Toyota Boshuku Japan, Toyota’s main automotive interior systems supplier, is spending 1.2 billion baht to purchase a local automotive seat producer, the Thai Automotive Seating and Interior Co (TASI).

Earlier, Toyota Boshuku held a stake of 50 percent in TASI. NHK Spring in Thailand with 35 percent and NHK Spring Japan are other stake holders. The deal has been made through Toyota Boshuku Asia Co., Toyota Boshuku’s Thai operation. Toyota Boshuku Asia general manager Akihiko Shimanouchi said that Toyota Boshuku Japan and Toyota Boshuku Asia would hold 50 percent each in TASI after the acquisition.

Toyota Boshuku Asia’s capital that would be raised to 210 million baht this month from 30 million would finance the investment. Operating cash flow and loans would also be the sources of 500 million baht funds.