Mitsui Fudosan To Buy Toyota Automall From Toyota Motor In August

(RTTNews) - Japanese real-estate company Mitsui Fudosan Co., Ltd., (MTSFY.PK) revealed on Wednesday that it will acquire all shares of Toyota Automall Development Corp. or TAC from Toyota Motor Corp. (TM) on August 29. The financial aspects of the deal are not known.

As part of the deal, Mitsui Fudosan and Toyota Fudosan Co., Ltd. will jointly acquire TAC's retail properties — Colorful Town Gifu and Tressa Yokohama. The acquisition is expected to benefit Mitsui Fudosan Group's retail facility management expertise and broaden the network to enhance customer satisfaction and property value.

The company said that the take over will help strengthen its collaboration with the retail properties in eastern Kanagawa and the Chukyo region.

Additionally, by incorporating TAC's expertise in automotive dealerships and mobility, Mitsui Fudosan expects to further grow its customer base and improve its asset value.