TOKYO -- Shares in Toyota Industries, a key parts supplier to Toyota Motor, extended their gains on Wednesday on news of a potential buyout to take the company private for 6 trillion yen ($42 billion).
Toyota Industries is Toyota Motor's largest subsidiary and a major shareholder in the Japanese carmaker, holding 9% of its shares. Toyota Industries is one of the most important companies in the Toyota group, as Toyota Motor, the world's largest automaker by sales, was spun off from the subsidiary.
