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HOME Publications Capital Markets & IT -lakyara Capital Markets & IT -lakyara List Toyota to issue class shares

Capital Markets & IT -lakyara vol.218 Capital Markets

Toyota to issue class shares

Jun. 10, 2015

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Toyota Motor Corporation, one of Japan's flagship companies, plans to issue class shares in a novel form after amending its Articles of Incorporation at its general shareholder meeting in June. Its new "Model AA" shares will be preferred stock with the same voting rights as its common stock. However, they will be generally nontransferable for five years after issuance. Toyota plans to issue the Model AA shares serially over the five years from July 2015.

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Sadakazu Osaki

Head of Research

Center for Strategic Management & Innovation

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