Toyota’s Cross-Shareholding Structure: Unwind Progress and Future Expectations

Published: 04 Jun 2025

Author: Precedence Research

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Toyota Motor made a deal with Toyota Industries worth USD 33 billion, which is considered a landmark of cross-shareholding that is expected to significantly boost the group’s progression on a global level. It will benefit Toyota to merge into the private sector in terms of long-term business. As per the opinion expressed by a senior analyst at Morningstar, this collaboration helps streamline the cross-shareholdings a bit in the group. It is also essential to have a stake in Toyota industries that offer any possible technology to develop for logistics in the upcoming period. 

The complete acquisition cost registered by Toyota was nearly 4.7 trillion yen, among which was a USD 26 billion tender offer for Toyota industries and its shares at 16,300 yen each, exactly below the closing price of 18,400 yen before the deal was revealed. 

A deal is going to be set up for a new holding company, which includes an investment of 180 billion yen by the group real estate company Toyota Fudosan. Toyota Motor’s chair will invest 1 billion yen and Toyota Motor will invest 700 billion yen in shares that are non-voting. According to the data provided by the company, Toyota will focus more on the transport of goods, and it also emphasizes the movement of people, goods, data, and energy as it aims to transform into a mobility company. Toyota owned nearly 24% of Toyota industries up to September of last year.

Along with this, the Toyota industry is estimated at around 9% of the world’s largest automakers and exceeds 5% of Denso. Group companies, including Aisin, Denso, Toyota Tsusho, and Toyota Motor, will completely sell their shares in Toyota industries and gain their own shares now held by it. The deal was widely accepted, and, as per media reports, the tender offer would be nearly USD 42 billion, which is a 62% premium to the original offer price.