TMC Decides to Repurchase and Cancel First Series Model AA Class Shares | Corporate | Global Newsroom

Toyota City, Japan, December 14, 2020―Toyota Motor Corporation (TMC) has decided to repurchase First Series Model AA Class Shares (AA Shares) and to cancel all AA Shares on the condition that said shares are repurchased.

Viewing the continuous creation of cutting-edge next-generation technologies that contribute to society and the Earth’s environment as essential for mid-to-long-term corporate growth, TMC issued AA Shares, which assumed a mid-to-long-term holding period, on July 24, 2015, to finance R&D aligned with new automotive business cycles stemming from such technologies.

From the time when the AA Shares were issued up to the present, TMC has been accelerating initiatives related to ESG factors, the SDGs, and others necessary for realizing a sustainable society in the mid-to-long term, centered on all stakeholders, such as various organizations and individuals, including not only shareholders but also businesses and consumers, investors, and employees. In doing so, a way of thinking that evaluates corporate growth and development from a more mid-to-long-term perspective has begun to spread within TMC, along with the forming of a value system that questions a company’s meaning of existence in society. AA Shares were issued precisely to make such ways of thinking and new value systems a reality.

Since the issuance of AA Shares, TMC has steadily advanced its investments in the future by, among others, investing in the new areas of CASE (connected, autonomous/automated, shared, and electric), developing next-generation environment-friendly vehicles, and forming alliances with various partners including those in other industries, as it builds the foundation for a future society of mobility. Meanwhile, holders of AA Shares, by exercising their voting rights to a high degree, have actively participated in the management of TMC. TMC has been able to advance its initiatives for the future thanks to its shareholders, who have believed in TMC and provided it with funding, and to whom TMC is sincerely grateful.

Going forward, toward “producing happiness for all”, TMC intends to take up challenges for the future and to endeavor to earn the support of even a greater number of shareholders and investors.