Toyota Tsusho to buy 10% stake in Australia's Pentag Nidera

Toyota Tsusho Corp., a Japanese trading house, said Wednesday (Apr 25) that it will obtain a 10% stake in Pentag Nidera Pty Ltd, an Australian grain exporter.

Nagoya-based Toyota Tsusho envisions meeting demand for grains such as wheat and corn in Japan and elsewhere by making inroads into the grain collection market in Australia through the investment in the Queensland state-based grain exporter, the company said.

Toyota Tsusho plans to help bolster the Australian company's annual transaction volume to 4 million tonnes by the business year through March 31, 2017, it added.