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Toyota’s $31 Billion Plan to Take Toyota Industries Private Delayed Amid Antitrust Reviews

By  |  October 7, 2025

Toyota Motor Corp chairman Akio Toyoda’s ambitious $31 billion (¥4.7 trillion or RM130 billion) plan to privatize Toyota Industries Corp has been delayed as regulatory approvals in several countries take longer than expected. According to a statement released on Monday, the tender offer, originally set to begin in December, is now expected to be postponed until at least February 2026.

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    The deal, first announced in June, involves a real estate unit within the Toyota group making a tender offer for Toyota Industries’ shares. Per a statement from the company, the delay is due to extended antitrust reviews across multiple jurisdictions. So far, approvals have been obtained in Australia, Canada, Israel, and South Africa, but clearances in other regions remain pending. The company added that completion is now anticipated in mid-January 2026 or later.

    Under the proposal, Toyota Fudosan Co.—an unlisted real estate firm serving as the Toyoda family’s investment arm—would acquire Toyota Industries’ shares at a price that represented an 11% discount to its closing price at the time of the announcement. Some investors have criticized the bid, arguing it undervalues the manufacturer, which produces textile looms, forklifts, and automotive components. Toyota Industries is the original business that gave rise to Toyota Motor, now the world’s largest automaker.

    Related: Toyota’s $40.5 Billion Buyout of Toyota Industries Delayed Amid Antitrust Reviews

    The buyout is intended to simplify Toyota’s complex ownership structure, long criticized for its network of cross-shareholdings among group companies. According to the company’s statement, the transaction aims to streamline governance within the Toyota group. It would also reinforce the Toyoda family’s influence over the conglomerate founded by Akio Toyoda’s grandfather.

    Japan’s major banks—Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group—will provide $18 billion in loans to fund the buyout. Toyoda himself will invest about $6.6 million in a new holding company that will lead the privatization through Toyota Fudosan, per a statement detailing the financing arrangements.

    While the delay marks an early hurdle for one of Japan’s largest corporate restructurings, Toyota indicated that the project remains on course once all regulatory approvals are secured.

    Source: The Exchange Asia