Toyota Tsusho to Start Agribusiness In Kazakhstan

Nagoya, July 3 (Jiji Press)--Toyota Tsusho Corp. <8015> said Thursday that it has reached an agreement to buy a 20 pct equity stake in Kazakh agricultural company Koktem EA. Toyota Tsusho, an affiliate of leading Japanese automaker Toyota Motor Corp. <7203>, will be the first Japanese trading company to launch agribusiness in the Central Asian country. The company will purchase new shares to be issued by Koktem under a third-party allotment scheme. The size of the investment has not been disclosed. Toyota Tsusho will send an official to serve on the board of Koktem, based in Almaty, northeastern Kazakhstan. Koktem owns 6,000 hectares of farmland in the north of Kazakhstan where it grows such produce as wheat, barley, rapeseed and carrots. Toyota Tsusho will help Koktem improve cultivation, quality control, storage and distribution. The company also hopes to gain expertise and know-how on large-scale farming for application to its future agricultural businesses. Toyota Tsusho entered Kazakhstan in 1998 as a Toyota Motor dealer. END