Toyota Tsusho's Ghana unit becomes "specified subsidiary" after capital increase

Toyota Tsusho Corporation's consolidated subsidiary, Toyota Tsusho Manufacturing Ghana Co. Limited (TTMG), will receive an additional capital contribution decided on October 24, 2025, classifying TTMG as a "specified subsidiary" for Toyota Tsusho. TTMG was initially established in June 2020 as a wholly owned vehicle assembly company to expand automotive operations in Ghana. In July 2025, shares were transferred to CFAO SAS, another wholly owned consolidated subsidiary of Toyota Tsusho.

The latest capital increase of $55 million by CFAO aims to further expand the automotive business in Ghana. This will raise TTMG's capital to $63 million, exceeding 10% of Toyota Tsusho's capital. TTMG’s net assets are projected to be GHS 112.7 million by March 2025, with total assets of GHS 404.5 million and sales of GHS 982.8 million.

Toyota Tsusho expects the impact of this change on its consolidated performance for the fiscal year ending March 2026 to be minor.