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Toyota Tsusho Corporation: Acquiring The French CFAO To Penetrate African Markets
Wiboon Kittilaksanawong; Mayeni GueyeCase IVEY-9B18M002-EEntrepreneurship, StrategyIn 2016, the Japanese company Toyota Tsusho Corporation (TTC) acquired the remaining shares of the French trading company Compagnie Française de l’Afrique Occidentale (CFAO), which was operating in Africa. That same year, TTC registered its first financial loss in 16 years. Several years earlier, in 2012, TTC had participated in CFAO’s equity as its majority shareholder. These strategic moves were all part of TTC’s corporate campaign Vision 2015,...Starting at €8.20