BookTitleToyota Tsusho 70-Year History

Summary

Toyota Tsusho 70-Year History

service base for the Forklift Division in Saint Nicolas, a suburb of Antwerp. Sincesales of forklift trucks in Europe were strong but the Forklift Division’s rentaloffices in Saint Nicholas were too small, in December 1989 TTESA purchased18,000 square meters of land in Temse, close to Saint Nicolas, and constructeda new company building. The building was completed in May 1992 and ForkliftDivision moved in.Toyota Motor Hungary Kft.New Business in HungaryIn December 1991, Toyota Motor Hungary Kft. (TMH) was established as a50/50 joint venture with Toyota Motor Europe (TME) and became an authorizeddealer for Toyota vehicles. (Toyota Tsusho’s shares in TMH were sold to TME atthe end of March 2014.)In July 1992, Ibusz Toyota Tsusho was established as a joint venture withHungary’s largest travel company, Ibusz, and it started operating a rental carbusiness. In March 1996, however, the joint venture with Ibusz was dissolvedbecause the visions of Ibusz and Toyota Tsusho did not align. Toyota Tsusho,however, established Toyota Tsusho Budapest (TOP) and this 100% ToyotaTsusho?owned Toyota vehicle dealer took over the car rental business. TOP wasreorganized in 2005 by Toyota Tsusho as Toyota Tsusho Euroleasing HungaryKFT (TTEH) and a local company (Euro Leasing) was brought on board as a jointventure partner. TOP was sold to the joint venture partner in March 2012.Toyota Tsusho Praha spol s r.o.Toyota Vehicle Sales in the Czech RepublicIn the Czechoslovakia, sales of Toyota vehicles depended on local corporations.But after the Velvet Revolution in 1989, the corporations discontinued sellingToyotas, so Toyota Tsusho stepped in to import and wholesale vehicles andopened an office in Prague in what was now the Czech Republic in 1991. In 1992,Toyota Tsusho established Toyota Tsusho Czechoslovakia spol. s.r.o., a pilotcompany, as a foothold for an authorized Toyota dealer. In 1993, Toyota Tsushoestablished Toyota Motor Czech spol. s.r.o. (TMCZ) through a joint investmentwith TMC and established Toyota Tsusho Prague (TTP) as a direct dealer basedon the pilot company.In November 1998, Toyota Adria d.o.o. (TAD) was established in Ljubljana, thecapital of Slovenia in the former Yugoslavia. It began sales and after-sales serviceof Toyota vehicles in four countries: Slovenia, Croatia, Yugoslavia, and BosniaToyota Tsusho Ukraina114