Toyota Group, with its mission of “producing happiness for all,” is taking on the challenge of “transforming into a mobility company” and aiming to contribute to the development of the mobility industry in Japan and the world through these challenges.
Today, Toyota Fudosan Co., Ltd. (“Toyota Fudosan”) announced “Notice Concerning Planned Commencement of Tender Offer for the Share Certificates, Etc. of Toyota Industries Corporation”. Toyota Motor Corporation (“Toyota Motor”), AISIN Corporation (“AISIN”), DENSO CORPORATION (“DENSO”), and Toyota Tsusho Corporation (“Toyota Tsusho”) are participating in a series of transactions aimed at a tender offer for the shares of Toyota Industries Corporation (“Toyota Industries”) and related transactions (the “Transactions”) to privatize Toyota Industries as stated in the announcement.
In order to privatize Toyota Industries, a new holding company will be established. Toyota Fudosan, whose shares are held by Toyota Group companies, will invest approximately 180 billion yen for the purpose of collaboration and cooperation with Toyota Group. Mr. Akio Toyoda will invest 1 billion yen as a commitment to the Transactions. Additionally, Toyota Motor will invest approximately 700 billion yen in non-voting preferred shares. The plan is for these investments to be implemented by reinvesting a portion of the amount obtained by selling the shares of Toyota Industries in the Transactions which have been held by Toyota Fudosan, Mr. Akio Toyoda, and Toyota Motor since Toyota Industries was listed.
Furthermore, Toyota Motor, AISIN, DENSO, and Toyota Tsusho will sell their shares in Toyota Industries in the Transactions, and simultaneously, will acquire their shares held by Toyota Industries through the tender offers for their treasury shares. This will dissolve the cross-shareholding between Toyota Industries and those four companies, except Toyota Motor will continue to invest in Toyota Industries in the form of preferred shares mentioned above.
Toyota Group is focusing on the movement of people, goods, information, and energy as it progresses towards transforming into a mobility company. Under this framework, Toyota Industries is concentrating on “goods.” To meet the increasingly diverse and sophisticated needs of logistics sites, Toyota Industries is focusing on the development of autonomous technologies for logistics equipment such as forklifts, logistics management software, and environmentally friendly powertrains, and it will work on utilization of data related to the movement of goods.
Through this privatization, Toyota Industries intends to deepen collaboration within Toyota Group, dynamically and swiftly advance these activities, and lead the way in the mobility sector with respect to “goods” for transformation of Toyota Group.
Toyota Group companies are reviewing their capital relationships from FY2023 to ensure that Toyota Group continues to grow. Toyota Group will continue to discuss how its optimum formation as a mobility company should be created and how its capital relationships should be realized, and will strive to maintain and enhance its competitiveness.
Toyota Group will continue to drive its transformation in order to ensure that Toyota Group continues to create a more prosperous future and remains indispensable.
