• Food & Consumer Services

2022-08-02

Toyota Tsusho Corporation ("Toyota Tsusho") announced today that it has reached an agreement to acquire 49% of the shares of Good Life Design Co., Ltd. ("Good Life Design") from Mitsubishi Corporation. This transaction will have completed following acquiring permissions required for the transfer of shares from competition authorities both in Japan and abroad.

Toyota Tsusho has already completed the procedures involved in acquiring permission from competition authorities, both in Japan and abroad, required for the transfer of shares.

1. Background
The Japanese health care industry market is forecast to grow from approximately 25 trillion yen in 2016 to approximately 33 trillion yen in 2025, and significant future growth is expected. As the rapid aging in various areas of Japan causes social security benefit expenses to rise, there is a demand for the creation of social systems that meet diverse regional health needs and provide people with a sense of security, enabling them to enjoy their lives.
2. Objectives and future outlook of the capital participation

Good Life Design was created in 2002 as a joint venture between Toyota Motor Corporation and Mitsubishi Corporation with the aim of providing people with "good lives," in which they enjoy good health and energy in their working lives by creating a new regional healthcare model. For over 20 years, as a healthcare company in the Toyota Group, it has engaged in health, medical care, and nursing-related businesses, first in Toyota City and the surrounding area and later expanding to Nagoya City, the Owari region, Osaka City, and the like.

Through this share acquisition, Toyota Tsusho, as a member of the Toyota Group, seeks to work with the regional healthcare platform developed by Good Life Design and create a new regional healthcare model that is even more closely tied to the community for the modern era of healthy 100 year lives.

Share acquisition details
After acquisition Before acquisition
No. of shares Shareholding ratio No. of shares Shareholding ratio
Toyota Motor Corporation
2,652 shares
51%
2,652 shares
51%
Toyota Tsusho Corporation
2,548 shares
49%
-
-
Mitsubishi Corporation
-
-
2,548 shares
49%
Total
5,200 shares
100%
5,200 shares
100%
Overview of Good Life Design
Company name
Good Life Design Co., Ltd.
Location
Toyota City, Aichi Prefecture
Established
June 2002
Representative
President & CEO Hiroshi Higuchi
Business description
Sale and management of pharmaceuticals, quasi-pharmaceutical products, and medical supplies; pharmacy operation; sale, rental, and management of medical devices, equipment, and supplies; residential care service provision and residential care support in accordance with the Long-Term Care Insurance Act; health investigation services such as nursing care consultation, health checks, comprehensive medical examinations, and company employee health studies; etc.

The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.

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Toyota Tsusho Corporation published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 08:19:02 UTC.