Key Facts
• June 10, 2025: Toyota Industries held its shareholder meeting in Takahama, Aichi.
• The company discussed Toyota Group’s buyout proposal and privatization plan.
• TOB (Tender Offer Bid) price set at ¥16,300 per share.
• Share price before official announcement: ¥18,000 range; TOB price 11% lower.
• Total privatization cost: approximately ¥4.7 trillion.
• 351 shareholders attended, 96 more than last year, with 24 questions raised.
• Meeting duration: 113 minutes, the longest in company history.
• CEO Koichi Ito emphasized long-term growth over short-term gains.
• Concerns raised about minority shareholder protection and undervaluation of assets.
• Toyota Chairman Akio Toyoda’s involvement seen as a commitment, not control.
• Post-privatization, re-listing is not currently planned but remains an option.
• Final privatization steps include a squeeze-out by February 2026 and a new structure by summer 2026.
Summary
Toyota Industries held its shareholder meeting on June 10, 2025, addressing concerns over Toyota Group’s buyout and privatization plan. The TOB price of ¥16,300 per share, 11% below the pre-announcement market price, sparked criticism from long-term and overseas shareholders, who questioned asset valuation and minority shareholder protection. CEO Koichi Ito defended the price as reflecting intrinsic value and highlighted the plan’s focus on long-term growth. The privatization, costing ¥4.7 trillion, involves a squeeze-out by February 2026 and a new structure by summer 2026. Toyota Chairman Akio Toyoda’s involvement was framed as a commitment to the company’s future. Re-listing is not planned but remains a possibility. The meeting, attended by 351 shareholders, was the longest in company history, reflecting the contentious nature of the proposal.
