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MARKETS LIVE BLOG:

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Toyota, Dentsu team up to improve marketing strategy

Reuters
·1 min read

TOKYO (Reuters) - Dentsu Group Inc <4324.T> and Toyota Motor Corp <7203.T> have agreed to form a business alliance and establish two companies to improve Toyota's communications and digital transformation strategy, Dentsu said in a statement on Wednesday.

Both the firms will operate under a holding company, of which Toyota will own 66% and Dentsu 34%. The companies are scheduled to start operations in January 2021.

One of the companies will focus on improving Toyota's marketing strategy to create "exceptional customer trust," while the other will work on digital transformation and the use of data to improve customer relationships, Dentsu said.

(Reporting by Sakura Murakami; editing by Uttaresh.V)