The Competition Commission of India (“CCI”), vide Press Release No. 85/2025-26,[1] dated November 25, 2025, has approved the proposed acquisition of 100% (hundred percent) shareholding of Toyota Industries Corporation (TIC) (“Target”) by Toyota Asset Preparatory Co., Ltd. (“Acquirer”). The transaction forms part of a broader restructuring and consolidation exercise within the Toyota Group.
Details of the Transaction
- The Acquirer is a newly created investment entity set up specifically for this transaction.
- After the acquisition, the Acquirer will be 99% (ninety nine percent) owned by Toyota Fudosan Co., Ltd. (TFC).
- The Acquirer does not conduct any business activities in India or anywhere else.
Business Activities of Toyota Group Entities in India
Toyota Motor Corporation (TMC) is active in India in the manufacture and sale of automobiles and automotive parts. The Target has operations in India in the following areas:
- Selling and servicing material handling equipment,
- Manufacturing and selling engines and transmission parts for passenger vehicles,
- Manufacturing and selling textile machinery, and
- Providing automated logistics solutions.
Regulatory Outcome
CCI has approved the transaction under the provisions of the Competition Act, allowing the Toyota Group to proceed with the internal restructuring.
[1] https://www.cci.gov.in/media-gallery/press-release/details/593/0