Toyota Fudosan Co., Ltd. and Akio Toyoda proposed to acquire 75.4% stake in Toyota Industries Corporation (TSE:6201) from Toyota Tsusho Corporation (TSE:8015), Aisin Corporation (TSE:7259) and DENSO Corporation (TSE:6902) and others for ¥3.7 trillion on June 3, 2025. A cash consideration of ¥3.7 trillion valued at ¥16300 per share will be paid by Toyota Fudosan Co., Ltd. and Toyota Motor Corporation. As part of consideration, ¥3.7 trillion is paid towards common equity of Toyota Industries Corporation. In order to privatize Toyota Industries, a new holding company will be established by Toyota Fudosan Co., Ltd., Toyota Motor Corporation and Akio Toyoda. 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. As of October 6, 2025, the company informs that Completion of all procedures and actions is expected to be from mid-January 2026 onwards, and as a result, the Tender Offer is expected to commence from February 2026 onwards. In the case that the Offeror is unable to acquire all of the Shares Subject to the Tender Offer through the Tender Offer, a share consolidation will be conducted through Squeeze-Out Procedures for the privatization of Toyota Industries Corporation. As of January 14, 2026, Toyota Industries increased the tender offer price from ¥16,300 to ¥18,800 yen. As of March 2, 2026, Toyota Industries increased the tender offer price from ¥18,800 to ¥20,600. The sources of such funds have been revised from approximately ¥180 billion to ¥200 billion for third-party allotment of common shares, and from approximately ¥710 billion to ¥800 billion for third-party allotment of preferred shares to Toyota Fudosan. The transaction is subject to minimum tender of approximately 130 million shares. As of January 18, 2026, Elliott Opposes Toyota Fudosan's Revised Tender Offer for Toyota Industries Corporation. As of February 12, 2026, the expected closing date of the offer is extended till March 2, 2026. As of February 16, 2026, Toyota Industries Corporation has announced that the record date for an extraordinary shareholders' meeting has been set for February 19, 2026. This meeting is planned to occur between late April and mid-May 2026. As of March 2, 2026 the offer period is extended to March 16, 2026. As of March 4, 2026, the Extraordinary Shareholders? Meeting will be necessary and determine the shareholders that can exercise voting rights at the Extraordinary Shareholders? Meeting, has decided to set March 31, 2026 as the record date. As of March 6, 2026 the offer period is extended to March 23, 2026.

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to the Special Committee of Toyota Industries. Nishimura & Asahi acted as a legal advisor and SMBC Nikko Securities Inc. acted as financial advisor to Toyota Industries Corporation. Plutus Consulting Co., Ltd. acted as fairness opinion provider to Toyota Industries Corporation.

Toyota Fudosan Co., Ltd. and Akio Toyoda completed the acquisition of 63.59% stake in Toyota Industries Corporation (TSE:6201) from Toyota Tsusho Corporation (TSE:8015), Aisin Corporation (TSE:7259) and DENSO Corporation (TSE:6902) and others for ¥3.9 trillion on March 23, 2026. 191,087,116 shares tendered as on March 23, 2026.