Toyota Japan Press Release on Entering Recreational Boat Building Industry

December 18, 1996 Toyota Press Release 
from their Japanese Web site

Spring is the time when lovers of water sports begin thinking of summer fun ahead. This year, Toyota will be taking part in the fun. The automaker will launch a line of motorboats and marine engines in Japan this spring.

This 28-foot cabin cruiser is Toyota's first offering in motorboats. A newly assembled team of designers and engineers at Toyota designed and developed the craft. A partner in New Zealand will produce the cabin cruiser under contract, and Toyota will handle the marketing.

	Leisure and recreation are a fast-growing market in Japan and a target of Toyota's diversification strategy. In addition to marketing cabin cruisers, the automaker will sell a pair of marine engines based on engines used in its Hilux Surf (4Runner) and Celsior (Lexus LS 400). Toyota also is investing in marine resorts in Japan.