Nishimura & Asahi has advised automotive parts manufacturer Toyodenso on its acquisition by Japanese automotive instrument manufacturer Nippon Seiki for JPY49.8 billion (USD312 million).
The transaction will see Nippon Seiki acquire all shares in Toyodenso from major shareholders, including Kiyoshi Koide, Koide Kosan, Honda Motor and others, making it a wholly owned subsidiary. Tokyo-based partners Yuji Shiga, Tsukasa Tahara and Yuta Tanoue led the transaction team.
“We advised on competition law globally, as well as foreign investment restrictions and environmental regulations in jurisdictions where Toyodenso’s subsidiaries are located. The deal involved complex negotiations with numerous Toyodenso’s shareholders, including Honda Motor,” Tanoue told Asia Business Law Journal.
The share acquisition, to be financed via borrowing from financial institutions, is expected to be completed on 1 October 2026, pending regulatory approvals.
Bringing Toyodenso, which manufactures automotive parts, into Nippon Seiki’s fold will establish a foundation in the long-term growth of the company’s human-machine interfaces (HMI) domain, the company said in a notice on the share transfer agreements. The HMI field enables humans to interact with and control machines, systems and processes, it added.
