TOKYO: Toyota Industries Corp plans to accept a tender offer by Toyota Motor Corp, the automaker’s Chairman Akio Toyoda and others, and is making arrangements to announce its intention as early as May, Kyodo news agency reported on Monday.
Both Toyota Motor and auto parts supplier Toyota Industries declined to comment on the report, saying that neither had made any announcement.
“We are always examining the optimal approach regarding our holdings in Toyota Group shares, but currently no decisions have been made,” a Toyota statement said.
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Bloomberg News reported last month that Toyota Motor Chairman Toyoda had proposed the potential acquisition of supplier Toyota Industries in a possible 6 trillion yen ($41 billion) deal.
Following the Bloomberg report, Toyota said it was considering a potential buyout of the parts supplier in a deal that could transform Japan’s most influential corporate group.
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