Toyota Motor (TYO:7203) has revised its tender offer for Toyota Industries (TYO:6201), increasing the bid price to 18,800 yen per share, from the June offer of 16,300 yen.
Separately, Toyota's board has approved changes to its own share buyback terms, significantly raising the maximum purchase price cap from 2,691 yen to 3,641 yen per share, according to its bourse filing on Wednesday evening.
This adjustment increases the total potential outlay for its self-tender offer to approximately 4.34 trillion yen to repurchase up to 1.19 billion shares.
An independent advisory committee confirmed the revised terms are "fair and appropriate."
The tender offer for its own shares is now scheduled to commence around mid-February 2026, following the settlement of the Toyota Industries tender offer.
Shares of Toyota Motor climbed more than 2%, while those of Toyota Industries rose over 6% in recent trade.