NAGOYA, Japan — Toyota Motor Chairman Akio Toyoda said he is personally investing in the buyout of supplier Toyota Industries to help the group “regain its identity,” but “that doesn’t mean the Toyota group now belongs to the founding family.”
The automaker on Friday posted a video of Toyoda, along with Toyota Industries President Koichi Ito, talking about the Toyota-led plan to take the company private. Toyoda has invested around 1 billion yen ($6.9 million) in the special-purpose company making the tender offer, equivalent to about 0.5% of voting rights.
