Toyota City, Japan, June 27, 2024 - (JCN Newswire) - Toyota Motor Corporation (Toyota) has today decided to sell a portion of its shareholdings in AISIN CORPORATION (AISIN). This is a revision of capital ties aimed at the growth of the Toyota Group, an initiative that has been underway since last year.
Toyota has been restructuring its groupwide business with a "home & away" perspective since 2016, as it revamps the Toyota Group to deliver smiles and happiness to people around the world through mobility. Amid these efforts, the group companies of Toyota, AISIN, DENSO CORPORATION (DENSO), and Toyota Industries Corporation have held extensive discussions and have come to an agreement that, following last year's sale of a portion of shares in DENSO, Toyota will sell a portion of its shares in AISIN. By effectively leveraging funds obtained through the sale, Toyota believes it can boost capital efficiency and achieve further growth for the Group, while maintaining the capital ties that have sustained a strong relationship. AISIN will continue to strengthen the Toyota Group's competitiveness by utilizing its wide range of hardware and software product lines and manufacturing capabilities. Toyota plans to use the generated capital to make growth investments focused on electrification, intelligence, and diversification initiatives.
Toyota also intends to carefully review its capital ties with other group companies on an individual basis, examining elements such as human resources, operations, culture, and business relationships while exploring the potential for strengthening competitiveness. The Group will continue to create its optimum formation as a mobility company and work as one to maintain and improve its competitiveness.
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Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
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