NAGOYA, Japan — A bid to take Toyota Industries private backed by Toyota Motor Chairman Akio Toyoda’s own money will increase the founding family scion’s influence over a company that holds stakes in many of the automotive group’s most important members.
“Toyota Industries was the first company in the Toyota group and is its keystone,” Toyoda said during a May 27 event at the automaker’s headquarters factory, when the buyout plan was still unconfirmed.
