Chairman Wants Buyout Of Toyota Industries To Consolidate Control Of Empire

Toyota Chairman Akio Toyoda has reportedly proposed a buyout of Toyota Industries, aiming to consolidate his control over Japan’s largest business empire amid a broader wave of mergers and acquisitions, Bloomberg News reported.

Toyota Industries has formed a special committee and hired advisers to review the proposal’s viability. I Photo: Toyota

The buyout proposal is said to value Toyota Industries—manufacturer of textile looms and car parts—at ¥6 trillion ($42 billion), representing a roughly 40% premium over its market value as of last Friday’s close.

Toyota Industries, originally founded by Toyoda’s great-grandfather Sakichi and the seed of what became the world’s No. 1 carmaker, has formed a special committee and hired advisers to review the proposal’s viability.