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Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.

Toyota and Suzuki are looking at an R&D partnership because they admit they're behind

The Chairman of Suzuki Motor Corporation, Osamu Suzuki, and the President of Toyota, Akio Toyoda, have convened at Toyota's Tokyo offices to declare plans to join hands regarding research and development. According to Toyoda, Toyota "hasn't been good at creating alliances," and its partnership with the small carmaker Daihatsu has been the most well-known collaboration so far. Perhaps the comment has a tinge of regret from Toyota and GM's NUMMI days in Fremont, especially as the statement released by Toyota says that "Toyota is conscious of the fact that it may be behind competitors in North America and Europe when it comes to the establishment of standardizations and partnership with other companies." But as different technologies advance at breakneck speed and it is difficult for companies both big and small to stay competitive, let alone ahead of the game, Toyota is accepting the need for collaboration. Toyoda referred to passenger safety, environmental issues, automated driving, and hydrogen technology, all of which are key challenges for any carmaker looking to stay relevant, and all expensive to experiment with. Spreading the cost over more vehicles should help. "We received an offer from Suzuki regarding collaboration possibilities on advanced and future technologies such as in information technology. Suzuki made a frank proposal to us, and in understanding that Toyota is facing the challenges which I had mentioned earlier, we thought that with the relationship between both companies, there is an opportunity for a business partnership to help solve such challenges. As such, we decided to explore such possibilities together," said Toyoda. In the future, Daihatsu will still be Toyota's tool in emerging markets, but now Toyota could have access to Suzuki's small-car know-how. Osamu Suzuki acknowledges that "Suzuki's current business focuses on minivehicles in Japan and India," as Suzuki withdrew from the US and Canada in 2013. A joint effort will help Suzuki remain relevant, and as a manufacturer of predominantly small vehicles it has been focusing on competitive pricing more than cutting edge technology. Related Video:

Bronco, Yukon, Hummer and a CES recap | Autoblog Podcast #610

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Assistant Editor Zac Palmer. They kick things off by talking about recent news, including the revival of the Hummer name as an electric pickup, revealing Ford Bronco spy shots and the unveiling of the 2021 GMC Yukon. Then Zac tells about his time in Las Vegas attending CES 2020. They talk about the cars they've been driving: a JCW-tuned Mini Clubman, the long-term Subaru Forester with its new gold wheels, a Volvo S60 PHEV that's been added to the long-term fleet, and a Camry Hybrid. Last, but not least, they help a listener decide how to spend his money on a sports car. Autoblog Podcast #610 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Hummer returning as an electric GMC pickup The latest on the Ford Bronco 2021 GMC Yukon CES 2020 recap Cars we're driving:2020 John Cooper Works Mini Clubman 2020 Subaru Forester long-termer (now with gold wheels!) 2020 Volvo S60 T8 Inscription 2019 Toyota Camry Hybrid XLE Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.