Toyota Industries Corporation
Notice Regarding Commencement of Tender Offer for Shares of Toyota Industries Corporation (Securities Code: 6201)
Toyota Asset Preparation Co., Ltd. will commence a tender offer for shares of Toyota Industries Corporation starting January 15, 2026. The offer price is 18,800 yen per share with a minimum number of shares planned to purchase at 126,215,300 shares (42.01%), totaling approximately 4.2558 trillion yen.
Key Figures
- Offer Price: 18,800 yen (per share)
- Minimum Number of Shares Planned for Purchase: 126,215,300 shares (42.01%)
- Total Purchase Amount: Approximately 4.2558 trillion yen
- Tender Offer Period: January 15, 2026 to February 12, 2026 (20 business days)
- Settlement Start Date: February 19, 2026
AI要約
Overview of the Tender Offer
Toyota Asset Preparation Co., Ltd. has initiated a tender offer for the common shares of Toyota Industries Corporation for the purpose of delisting. The target shares exclude shares owned by Toyota Motor Corporation and treasury shares, with an offer price of 18,800 yen per share. The minimum number of shares planned for purchase is 126,215,300 shares (42.01%), and the tender offer will not proceed if this threshold is not met. The total purchase amount is approximately 4.2558 trillion yen. The tender offer period is set from January 15, 2026 to February 12, 2026, covering 20 business days.
Background and Purpose of the Tender Offer
Toyota Real Estate Co., Ltd. is the lead entity promoting the delisting as part of the Toyota Group’s growth strategy. The target company aims to achieve growth in the mobility sector and has chosen to go private to enable faster decision-making and investment. Toyota Motor Corporation emphasizes securing the independence of the target’s non-automotive businesses, and expects synergy effects for the entire group by having Toyota Real Estate act as the buyer.
Fairness of the Offer Price and Evaluation by the Special Committee
The target company’s Independent Special Committee, taking into account the evaluations by multiple third-party appraisal institutions (SMBC Nikko Securities, Mitsubishi UFJ Morgan Stanley Securities, EY Strategy and Consulting), determined that the offer price of 18,800 yen appropriately reflects the intrinsic value of the target and is fair and reasonable for minority shareholders. The Special Committee expressed its support to the Board of Directors and resolved to recommend shareholders to tender their shares.
Post-Tender Management Policy and Organizational Restructuring
Following privatization, the operational structure of the target’s automotive and textile machinery businesses will be maintained. The industrial vehicles business aims to accelerate growth through strengthened collaboration within the Toyota Group. After the tender offer is completed, a squeeze-out procedure through share consolidation will be conducted for any remaining shares not purchased, ultimately resulting in delisting.
