Source disclosure: January 14, 2026
TOYOTA INDUSTRIES CORPORATION [6201.T]
TOKYO — Toyota Industries Corporation announced on January 14 that its board supports and recommends shareholders to tender their shares in response to an upcoming tender offer by Toyota Asset Preparation Corporation, a company established by Toyota Real Estate Co., Ltd.
According to a press release issued earlier this year, Toyota Asset Preparation Corporation plans to commence the tender offer on January 15, 2026. The board of Toyota Industries Corporation convened today to re-examine the proposed tender offer and has decided to endorse it while recommending that shareholders participate in the tender process. This decision was made after receiving confirmation from the buyer that all necessary regulatory approvals and conditions precedent had been satisfied.
Toyota Asset Preparation Corporation, headquartered in Tokyo's Chiyoda Ward, is wholly owned by Toyota Asset Corporation. The tender offer will be conducted at a price of ¥18,800 per share. However, U.S. depositary receipts (DRs) related to Toyota Industries' stock will not be included in the tender offer. Holders of these DRs who wish to participate must first exchange them for underlying common shares before submitting their tenders.
In addition to endorsing the tender offer, the board also highlighted several key factors supporting their recommendation. These include thorough due diligence conducted by an independent special committee, which reviewed the transaction's compliance with competition laws across multiple jurisdictions such as Japan, the United States, Canada, Mexico, Germany, Austria, Czech Republic, Poland, Slovakia, Turkey, Saudi Arabia, Morocco, South Africa, Spain, Israel, India, and Australia. Furthermore, the committee confirmed adherence to European Union rules regarding state aid and investment regulations in Italy, Spain, and Germany. All relevant regulatory clearances have now been obtained, including those from British and Swedish financial authorities.
This comprehensive review process underscores the board’s confidence in both the fairness of the offered price and the overall integrity of the tender offer procedure. The board believes that participating in the tender offer represents a prudent course of action for shareholders given the current market environment and the strategic alignment between Toyota Industries and Toyota Real Estate.
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