Toyota Willing to Sell U.S. Cars in Japan

THE JOURNAL RECORD, May 23, 1991 | Go to article overview

Toyota Willing to Sell U.S. Cars in Japan


Toyota Willing to Sell U.S. Cars in Japan TOKYO _ Toyota Motor Corp., Japan's largest automaker, is ready to consider selling U.S. cars in Japan if such a request is made, a company official said Wednesday. Kimiaki Kuroki, a Toyota spokesman, said the company already is negotiating with Volkswagen AG of Germany about selling its cars in Japan. "We are basically ready to consider the selling of U.S. cars in Japan as well if this is proposed by any U.S. automaker," Kuroki said. Kuroki said, however, that no U.S. automaker had made such a request. On Monday, U.S. Vice President Dan Quayle urged Japanese government efforts to increase American car and auto parts sales in Japan. Eiichi Nakao, minister of international trade and industry, told Quayle that Toyota was ready to import and sell General Motors Corp. cars in Japan, ministry officials said. GM President Lloyd Reuss said in Detroit that GM would like to increase sales in Japan, but added, "We're not working on anything specific with Toyota." U.S. automakers have been suffering from declining sales and severe Japanese competition on the U.S. market. A total of 221,706 imported passenger cars were sold in Japan in 1990, up 22.9 percent from a year earlier, the Japan Automobile Importers Association said. Hitachi to Open HDTV Lab in July TOKYO _ Hitachi Ltd., a leading Japanese electronics maker, will open a research center in the United States to develop advanced high-definition television technology, a company official said Wednesday. Hitachi America Ltd. will open a HDTV laboratory in July in Princeton, N.J., and initially employ about 20 researchers, he said. Hitachi operates Hitachi Computer Products (America) Inc. in Norman. Hitachi hopes to market HDTV equipment developed at the research center by 1998, said the official, who spoke on condition of anonymity. HDTV equipment provides images that are proportionately wider and much more detailed than current televisions. Lowe Named President, CEO of Gulfstream SAVANNAH, Ga. _ William C. Lowe, a former high ranking executive at Xerox Corp., has been named president and chief operating officer of the corporate jet maker Gulfstream Aerospace Corp. Lowe will help run Gulfstream with Allen E. Paulson, the company's founder and chairman, it was announced Wednesday. Gulfstream Aerospace Technologies Inc., 7400 NW 50th St. in Bethany, is a subsidiary. Paulson, along with New York-based investment firm Forstmann, Little & Co., bought Gulfstream from Chrysler Corp. last year. Lowe, 50, was executive vice president for development and manufacturing at Xerox, which he joined in 1988. Prior to that he spent 26 years at International Business Machines Corp. FNN Purchase Doubles NBC Chanel's Audi- ence NEW YORK _ NBC's Consumer News and Business Channel more than doubled its potential audience after completing the purchase of its former cable television rival, Financial News Network. Network executives said Wednesday the merger of the two services should give the new CNBC more clout with advertisers, cable system operators and news sources. CNBC completed its $154.3 million purchase of FNN shortly before midnight Tuesday and promptly merged the operations, shutting down FNN, which pioneered business news coverage on cable television nearly 10 years ago. Negotiators Warn of Trade Problems for Japan TOKYO _ Japan must make urgent efforts to open itself to foreign investment and trade or be hurt by rising protectionist sentiment in other major industrialized nations, U.S. trade negotiators are warning. The stern verdict was delivered Wednesday as part of a progress report on a historic U.S.-Japan trade agreement signed a year ago. But it was only the latest blow to Japan in a week of renewed frictions with the United States and Europe. …

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