TOKYO -- Four Toyota Motor Corp. group firms will form a joint venture to combine self-driving technologies to better compete with automotive component giants such as Bosch Group, the Nikkei business daily reported on Friday.

The new company, to be set up by Denso Corp., Aisin Seiki Co., Jtekt Corp. and Advics, will bring together technologies such as braking and steering, the Nikkei said.

Denso is expected to hold the majority stake.

The new company, to be launched by the end of this year, will primarily supply Toyota but also target European, U.S. and Chinese automakers, the Nikkei said.

Denso, Aisin and Jtekt declined to comment when contacted by Reuters. Representatives for Advics could not be immediately reached for comment.