FORD, TOYO KOGYO SLATE MORE TALKS
|Topics: Ford Motor Company, Mazda
Florida Automotive Journal
High ranking officials of the Ford Motor Co. will arrive in Tokyo next month for more negotiations on Ford's proposed investment in the Japanese auto maker, Toyo Kogyo.
Kohei Matsuda, Toyo Kogyo vice president, arrived in Tokyo Saturday, Oct. 17, following talks with high ranking Ford officials in New York.
He avoided a direct answer to newsmen's questions whether Ford has agreed to limit its investment in Toyo Kogyo to 20 per cent, as requested by the Japanese Government.
Mr. Matsuda said his talks in New York involved the degree of Ford's proposed participation in Toyo Kogyo, and exchanges of personnel and technical know-how.
He said the two companies have "virtually reached the point of an understanding" on these basic questions.
Mr. Matsuda said the outlook is for formal signing of an agreement between the two companies in November or later.
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