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

By  |  October 6, 2025
Toyota

Toyota Motor chairman Akio Toyoda’s ambitious plan to acquire Toyota Industries for 4.7 trillion yen (S$40.5 billion) has been delayed as global regulators take longer than expected to approve the deal. According to a statement from Toyota Industries on Monday (Oct 6), the takeover bid, initially scheduled to launch in December, is now unlikely to proceed before February 2026.

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    The company revealed that the transaction — which involves a real estate unit owned by Toyota group companies making a tender offer for Toyota Industries’ shares — is still under review in several jurisdictions. Clearances have so far been granted in Australia, Canada, Israel, and South Africa, per a statement from Toyota Industries. “The remaining clearances are still pending, and the completion of all procedures is now expected to be in mid-January 2026 or later,” the company said.

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    The buyout plan, first announced in June, is part of Toyoda’s broader strategy to consolidate the founding family’s influence over Japan’s largest business group. If completed, it would rank among the largest corporate buyouts in history. However, some investors have criticized the offer, saying it undervalues Toyota Industries. The proposal includes a tender offer of 16,300 yen per share — an 11 per cent discount compared to the company’s closing price on the day of the announcement.

    Toyota Industries, which began as a manufacturer of textile looms and now produces forklifts and vehicle components, is the company from which Toyota Motor was originally spun off. The buyout, according to analysts, could simplify Toyota’s complex parent-subsidiary structure — a longstanding feature of Japan’s corporate landscape. According to a statement from the company, the move could align with government initiatives encouraging major corporations to unwind cross-shareholdings that obscure governance and financial transparency.

    While the proposed acquisition might streamline ownership and support reform efforts, it would also tighten the Toyoda family’s control over a key pillar of the Toyota Group — deepening its influence within Japan’s most powerful industrial network.

    Source: Business Times