Toyota shares rose 4% on Thursday to a new all-time high, shortly after the company raised its offer to buy Toyota Industries to more than $35 billion, a significant increase from last year’s offer.
Toyota Industries’ own stock price rose nearly 6% to 19,080 yen, even higher than its new offering price of 18,800 yen.
Late Wednesday, Toyota announced it would pay 18,800 yen (about $118.11) per share to acquire Toyota Industries’ remaining stake. This is an increase of more than 15% from the offer price of 16,300 yen per share announced in June last year. The goal is complete privatization.
Toyota Industries announces that increase in acquisition price is still insufficient
Let’s back up. Last year, Toyota tried to buy the entire Toyota Group, a Japanese giant, for 4.7 trillion yen. The deal included 1 billion yen from Chairman Akio Toyoda’s personal pocket and 700 billion yen in preferred stock without voting rights.
But by December, Toyota Industries had rebounded. They said the deal wasn’t good enough and asked for more money. The move now appears to have worked.
However, there is still some backlash. The new price remains below the median of the range suggested by independent advisers. This suggests that even if the offer increases, Toyota Industries may still be undervalued. And the fact that the stock price has already risen above the revised estimate is adding to this.
Toyota Industries, which launched the Toyota brand decades ago, is more than just a side business. We manufacture forklifts, engines, electronic parts, metal stamping tools, etc. The board itself has weight, and the board knows it clearly.
In terms of management, Toyota is not in an easy situation. According to the latest report, global production in November fell by 5.5% to 821,723 vehicles. This was the first year-on-year decline in half a year. The Chinese market slumped after the government ended subsidies, and global sales fell 2.2%.
To make matters worse, Toyota said U.S. tariffs would hit it hard. They estimate a loss of 1.45 trillion yen (more than $9 billion) in the current fiscal year, which ends in March. It’s not pocket change.
Even with hits, they still keep spending. Back in November, Toyota announced it would invest $912 million in five plants in the southern states of the United States. This is part of a broader plan to pump up to $10 billion into U.S. operations by 2030.
Toyota in Europe sold 1,143,963 units in 2025, maintaining its position as the second best-selling passenger car brand across the continent. The electrification ratio reached 77%, an increase of 5% compared to the previous year. Of this, battery electric vehicles increased by 46%, plug-in hybrid vehicles by 76%, and hybrid models by 3%.
Commercial vans are also doing well. The Toyota Professional Light Van series achieved a record 158,270 units, an increase of 19% from the previous year.
Sales Director Til Conrad said: “We are very proud to achieve another strong sales performance in Europe in 2025. We continue to introduce exciting new models to our range, including the Aygo
And the promotion of EVs continues. Sales of plug-in hybrids reached 71,845 units, an increase of 91% compared to the previous year. Battery electric vehicles sold 51,919 units, an increase of 53%. The significant growth was driven by strong demand for the new C-HR plug-in hybrid.
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