Toyota, Daihatsu and Fuji Heavy Industries have agreed to extend their co-operation in research, development and product supply.

The deal will mean that Toyota and Fuji will jointly develop a compact sports car, which is set to hit the market by the end of 2011.

Toyota will increase its stake in Fuji from 8.7% to 16.5%. Fuji will use the funds to build a new plant where the car will be manufactured.

As a further part of the deal Daihatsu, which is 51.2% owned by Toyota, will supply Fuji with a number of its small cars starting in the second half of 2009.

This move will allow Fuji to focus on its core products, such as the Subaru Legacy.

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