Toyota to launch tender offer for own shares, delist Toyota Industries

Toyota Motor Corporation (TMC) [TSE:7203] announced plans to launch a tender offer for its own shares, a key step in a series of transactions aimed at streamlining its group structure and facilitating the delisting of Toyota Industries Corporation. As part of the plan, TMC will repurchase up to 1,192,331,020 of its own shares, representing approximately 9.14% of outstanding shares, at a price discounted 10% from market value, capped at JPY 2,691 per share, for a total purchase price of up to JPY 3,208,562,774,820. Toyota will also purchase from Toyota Industries, at a discounted price, all shares they hold.