OREANDA-NEWS. Toyota Motor Corporation held 24.63% of the Toyota Industries Corporation's total voting rights. Toyota Industries Corporation is a TMC affiliate accounted for by the equity method.

Toyota Industries Corporation assembles certain cars and produces automobile engines under the consignment from TMC and our sales to TMC accounted for 58.5% of our net sales.

TMC held 24.63% of the Toyota Industries Corporation's total voting rights. Toyota Industries Corporation maintains close relationship with TMC in terms of capital and business dealings. Under the consignment from TMC, Toyota Industries Corporation has no negative conditions and limitations from TMC. The sales to TMC accounted for 58.5% of our net sales, so TMC's vehicle sales could have an impact on Toyota Industries Corporation's business results.

For the conditions of transactions and determination policies, Toyota Industries Corporation offers prices on such products based on their overall costs, and negotiates conditions for each fiscal year, as with conditions on arm's-length transactions.

As for the purchase of parts of automobiles and engines, Toyota Industries Corporation negotiates conditions for each fiscal year, based on offered prices on such products, as with conditions on arm's-length transactions.

Toyota Industries Corporation keeps the independency on business without any limitations from TMC.