News Releases / 2012

Return to 2012 News List

February 21, 2012
Business and Capital Alliance with Seibu Electric & Machinery Co., Ltd.
Toyota Industries Corporation (TICO — Tetsuro Toyoda, President) has entered into a business and capital alliance agreement today with Seibu Electric & Machinery Co., Ltd. (Seibu Electric — Kaoru Kimura, President). Details are as follows.
  1. Reason for the Alliance
    TICO develops, manufactures, and sells industrial vehicles and material handling systems/equipment to help customers streamline their logistics operations through the creation of total systems that leverage its accumulated know-how in the logistics field. This alliance aims to enhance competitiveness in material handling systems/equipment, including automated storage and retrieval system, conveying equipment, and more.

  2. Details of the Alliance
  3. A. Business Alliance
      TICO entrusts to Seibu Electric part of the custom design and manufacturing for material handling systems/equipment such as automated storage and retrieval systems, and conveying equipment that are sold by TICO.
    B. Capital Alliance
      To facilitate the business alliance, TICO plans to acquire 1.106 million shares of Seibu Electric's treasury stock (approximately 7.3% of total issued shares) through third-party allocation. An overview follows.
      1. Payment date: March 12, 2012
      2. Number of shares acquired: 1.106 million common shares
      3. Acquisition price*: 365 yen per share (total payment: 403 million yen)
      4. Acquisition method: Subscription for treasury stock of Seibu Electric through third-party allocation
      * The closing price on the business day prior to the resolution date of the board of directors meeting of Seibu Electric for this third-party allocation of shares (February 20) was determined to be the acquisition price.

  4. Schedule
    February 21, 2012   Conclusion of business and capital alliance agreement Resolution at the respective meetings of the boards of directors of both companies
    March 12, 2012   Payment date for the third-party allocation of shares
    April 2012 (planned)   Start of design and manufacture entrustment

  5. Overview of the Alliance Partner
    2. Representative Kaoru Kimura, President
    3. Location 3-3-1 Eki-higashi, Koga, Fukuoka
    4. Established February 1939
    5. Description of main business Manufacture and sale of transfer machinery, industrial machinery, and precision machinery
    6. Capital 2.658 billion yen (end of March 2011)
    7. Number of issued shares 15.160 million (end of March 2011)
    8. Consolidated net sales 12.4 billion yen (fiscal year ended March 2011)

  6. Effect on Business Performance
    Effects on the business performance of this fiscal year and the next will be minimal.

Return to Top