Toyota Press Kogyo acquired all issued shares of peer Maruwa Kinzoku Kogyo, making it a wholly owned subsidiary. The acquisition price was approximately ¥700 million, and the companies will pursue new orders through the mutual use of equipment at their adjacent head offices.
Toyota Press Kogyo acquired shares in Maruwa Kinzoku Kogyo, located adjacent to Hirokute-cho, Toyota City, through the transfer of all issued shares, making it a wholly owned subsidiary effective 30 September. The acquisition price is reported to be approximately ¥700 million.
The acquisition aims to resolve Maruwa Kinzoku's business succession issue, expand the companies' coverage through the mutual use of their equipment, and increase the value provided to customers.
The two companies did not originally have a direct business relationship, but aim to deepen collaboration through the integration of their business platforms and generate new orders. Attention will focus on the companies' specific business developments and trends in new orders.