Toyota announces plans to take Toyota Industries private

Toyota Fudosan Co., Ltd. announced “Notice Concerning Planned Commencement of Tender Offer for the Share Certificates, Etc. of Toyota Industries Corporation”. Toyota Motor Corporation (TM), AISIN Corporation (ASEKY), DENSO CORPORATION (DNZOY), and Toyota Tsusho Corporation are participating in a series of transactions aimed at a tender offer for the shares of Toyota Industries Corporation and related 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. 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, 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.