Commission Decision No. 23-M-20:
Acquisition by Aisin Seiki Co. Ltd. of Shares in Toyota Autoparts Philippines Inc.
The proposed transaction is between Aisin Seiki Co., Ltd. (Aisin) and Toyota Motor Corporation (TMC). Aisin is currently a minority shareholder of Toyota Autoparts Philippines Inc. (TAP), a subsidiary of TMC in the Philippines.
Aisin is now considering acquiring additional shares of TAP from TMC, so that Aisin would newly become a majority shareholder of TAP.
Aisin and its subsidiaries are engaged in manufacture and sales of automotive parts, lifestyle- and energy-related products, and wellness-related products. TMC and its subsidiaries are engaged in manufacture and sales of automobiles, financial services, and other areas of business, including housing and information technology.