Toyota has agreed to increase its acquisition offer for Toyota Industries by 15%.

Toyota Motor Corporation announced on January 14 that it will increase its bid for the shares not held by Toyota Industries Corporation to 18,800 yen per share. The initial bid in June last year was 16,300 yen per share. The tender offer will begin on the 15th and last until February 12. The increased bid of 15% raises the valuation of the acquisition target to 6.1 trillion yen.