Toyota Industries Corporation
(Amendment) Partial Change Regarding ‘Notice of Expression of Support and Recommendation for Subscription Concerning the Tender Offer for Our Shares by Toyota Real Estate Co., Ltd.’
Toyota Real Estate Co., Ltd. has extended the tender offer period for our shares until March 16, 2026, and raised the tender offer price from 18,800 yen to 20,600 yen. There is an expressed intention to subscribe for a total of 12,447,738 shares (4.14%).
Key Figures
- Tender Offer Price: 20,600 yen (final price after increase)
- Number of Shares with Expressed Intention to Subscribe: 12,447,738 shares (ownership ratio 4.14%)
- Number of Shares Owned by Toyota Motor Corporation: 74,100,604 shares (ownership ratio 24.66%)
AI要約
Overview of the Tender Offer and Changes
Regarding the tender offer for Toyota Industries Corporation shares by Toyota Real Estate Co., Ltd., the tender offer period has been extended until March 16, 2026, and the tender offer price increased from 18,800 yen to 20,600 yen. This is a pre-announcement type tender offer with a relatively long period secured after the disclosure of the offer conditions. Following the completion of the tender offer, a series of procedures including multiple treasury stock acquisitions and share consolidation (squeeze-out process) are planned.
Subscription Status and Shareholder Response
There have been expressed intentions to subscribe for a total of 12,447,738 shares (ownership ratio of 4.14%) from multiple shareholders. Moreover, Elliott and its affiliates have entered into a subscription agreement to apply for 20,036,150 shares (6.7%), which has led to extending the tender offer period to 41 business days. Toyota Real Estate and major Toyota Group shareholders intend to subscribe for all their held shares. Appropriate opportunities for decision-making regarding the tender offer are secured, and the opportunity for competing acquisition proposals is maintained.
