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Toyota Delays Tender Offer for Toyota Industries to February or Later

The buyout plan uses a holding company to unwind cross-shareholdings across the group.

Toyota logo is seen in this illustration taken July 28, 2025. REUTERS/Dado Ruvic/Illustration
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Overview

  • Toyota said the tender launch once targeted for early December is now likely to begin in February or later.
  • The proposed acquisition price is 16,300 yen per share, implying a deal value of about 3.7 trillion yen.
  • Toyota Motor, Toyota Fudosan and chairman Akio Toyoda plan to invest in the holding company that would take Toyota Industries private.
  • As part of the restructuring, Toyota, Denso, Toyota Tsusho and Aisin will sell their stakes in Toyota Industries and repurchase their own shares held by it, with Toyota’s purchase expected to total around 1 trillion yen.
  • Some international investors argue the offer undervalues Toyota Industries’ real estate, while Toyota says the price reflects intrinsic value and represents a 23% premium to the pre-report share level.