Notice Concerning Recording of Gain on Sale of Investment Securities (Extraordinary income)
[Translation]
Toyota Industries Corporation (President: Koichi Ito; "Toyota Industries"), as announced in the "Notice Concerning Sale of Part of Shares in DENSO CORPORATION Held by Toyota Industries" dated November 29, 2023, has decided to participate, as one of the sellers, in the secondary distribution of common stock of DENSO CORPORATION (President: Shinnosuke Hayashi) implemented by that company (the "Secondary Distribution"), and will sell part of its shares in DENSO CORPORATION (the "Sale of Shares").
Toyota Industries announces that it expects to record a gain on sale of investment securities (extraordinary income) in its non-consolidated financial statements for the fiscal year ending March 31, 2024, following today's determination of the selling price and other relevant matters in connection with the Sale of Shares.
For detailed information on the determination of the selling price, etc., please refer to the "DENSO Announces Determination of Selling Price, etc." published today by DENSO CORPORATION.
1. Sale of investment securities
| (1) | Investment securities to be sold by the Toyota Industries: | Common stock of DENSO CORPORATION | |
| (2) | Number of shares to be sold: | 119,785,400 shares | |
| (3) | Total amount to be sold: | 237.6 billion yen (1,984.14 yen per share) | |
| (4) | Gain on sale of investment securities: | 219.3 billion yen |
2. Future prospects
In connection with the Sale of the Shares, Toyota Industries plans to record a gain on sale of investment securities of 219.3 billion yen under extraordinary incomes in its non-consolidated financial statements for the fiscal year ending March 31 2024. The Sale of Shares will have no impact on profit in the consolidated financial statements because Toyota Industries adopts the International Financial Reporting Standards (IFRS).