From Yahoo Finance: 2025-06-11 19:06:00

Toyota Motor shareholders re-elected Akio Toyoda as chairman, despite criticism of the $33 billion buyout of Toyota Industries. Toyoda, grandson of the founder, was widely expected to be re-elected. The breakdown of voting is yet to be released, but he was estimated to have received at least 96%.

Shareholders questioned the buyout bid at the Toyota Industries meeting, labeling it unfair to minority shareholders. Toyota Motor plans to take Toyota Industries private to deepen collaboration and develop a broader mobility identity. Overseas shareholders argue the price undervalues the target’s intrinsic value.

Proxy advisers Glass Lewis and Institutional Shareholder Services recommended re-electing Toyoda after previous opposition. Toyoda’s position was scrutinized due to governance concerns, with his support slipping in recent years. Toyoda acknowledged his seat could be at risk if support continues to fall.

Toyota Industries, founded in 1926, originally made automatic looms before spinning off its automotive division as Toyota Motor. Despite criticism, shareholders expressed confidence in Toyota’s future growth.

Read more: Toyota chairman re-elected against backdrop of $33 billion buyout bid