Toyota Motor Corp. is one of the industry's most vertically integrated auto companies. More significantly, it is on a different path than the Big 3 and other producers.
While the Big 3 have tried to decrease holdings in parts operations over the past decade, Toyota has moved to increase such holdings.
It also has moved to make its financially related keiretsu suppliers stronger so they can handle more Toyota business.
By contrast, Visteon Corp. and Delphi Corp. - spinoffs from Ford Motor Co. and General Motors - have tried to reduce their share of business with their former parents. Visteon needed a bailout from Ford in May, and Delphi filed for Chapter 11 reorganization Oct. 8.
Several times since the 1990s, Toyota has moved to increase its ownership interest in various suppliers. Between 1995 and 2000, it bumped up its control of electronics supplier Denso Corp. and raised its stake in transmission and drivetrain supplier Aisin Seiki.