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Toyota to invest ¥400M in Albert

Toyota Motor Corp. said May 15 that it will invest about ¥400 million in Japanese analytical data solutions provider Albert Inc. in a business alliance for big data analysis.

The Japanese carmaker, which is seeking to promote the development of automated driving technology, will purchase new shares in Albert to be issued through a third-party allocation May 30.

Toyota said in a statement that it believes that the alliance will help strengthen elements such as data analysis processes in the company's development of AI technologies.

As of May 15, US$1 was equivalent to 110.26 Japanese yen.