Toyota Industries shares poised to surge on potential buyout

Shares of Toyota Industries were set to surge on Monday after Japanese automaker Toyota said over the weekend it was exploring the possibility of investing in a potential buyout of the key parts supplier.

Toyota Industries shares remained untraded with a glut of buy orders on Monday. The bid and ask indicated that their price was poised to hit the daily upper limit of 16,225 yen, a 23% jump on Friday's closing price of 13,225 yen.

Such a rise would mark the stock's biggest one-day jump in at least more than 40 years, according to LSEG data going back to early 1984.


On Saturday, Toyota said in a filing with the Tokyo stock exchange it was exploring various possibilities, including a partial investment, in Toyota Industries.

Bloomberg News reported on Friday that Toyota Chairman Akio Toyoda and his founding family have proposed acquiring Toyota Industries in a potential 6 trillion yen ($42 billion) deal.

In a statement released Saturday, Toyota Industries confirmed it had received proposals about going private through a special purpose company but it denied receiving a buyout offer from the Toyota chairman or the Toyota group.