The Competition Commission of India has approved the proposed acquisition of Toyota Industries Corporation by Toyota Asset Preparatory Co, Ltd. The transaction involves the Acquirer obtaining 100 per cent shareholding in Toyota Industries Corporation as part of a broader restructuring and consolidation exercise within the Toyota group. Toyota Asset Preparatory Co, Ltd. will eventually be held about 99 per cent by Toyota Fudosan Co, Ltd.

The Acquirer is an investment vehicle created specifically for the transaction and has no business operations in India or globally. Within India, Toyota Motor Corporation is engaged in the manufacture and sale of passenger vehicles and automotive components.

Toyota Industries Corporation operates in India through activities including the sale and servicing of material-handling equipment, manufacture and sale of engines and transmission parts for passenger vehicles, manufacture and sale of textile machinery, and the provision of automated logistics solutions.

A detailed order from the Commission will be issued separately.