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2w ago

Toyota Fudosan Launches Tender Offer to Privatize Toyota Industries

Toyota Fudosan’s 180 billion yen bid aims to simplify group shareholdings in order to empower Toyota Industries’ pivot to autonomous logistics solutions

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A Toyota logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/ File Photo

Overview

  • The tender offer covers all remaining shares of Toyota Industries at an estimated cost of 180 billion yen ($1.26 billion).
  • Akio Toyoda will contribute 1 billion yen ($7 million) and Toyota Motor will invest 700 billion yen ($4.9 billion) in non-voting preferred shares to finance the deal.
  • AISIN, DENSO and Toyota Tsusho will repurchase their Toyota Industries shares to unwind existing cross-shareholdings as part of the restructuring.
  • Toyota Motor will retain a substantial non-voting stake in Toyota Industries after it is taken private to preserve strategic ties.
  • Privatization is designed to accelerate Toyota Industries’ work on autonomous logistics equipment, logistics management software and eco-friendly powertrains.