Toyota Housing Corporation signed a share exchange agreement to acquire remaining 48.99% stake in Misawa Homes Co., Ltd. (TSE:1722) for ¥22.1 billion on May 9, 2019. For each share of Misawa Homes Toyota Housing Corporation will issue 0.155 shares of Toyota Motor Corporation (TSE:7203) and will issue 3.27 million shares in total. Toyota Housing holds 51.01% stake in Misawa Homes. Post transaction, Misawa Homes will become a wholly owned subsidiary of Toyota Housing. The shares of Misawa Homes are planned to be delisted on December 30, 2019 with last day of trading planned as December 27, 2019. The transaction is subject to the approval of extraordinary general meetings of shareholders of Toyota Housing and Misawa Homes, planned to be held around November 2019. As of October 15, 2019, general meetings of shareholders of Toyota Housing and Misawa Homes are planned for November 20, 2019 and November 26, 2019 respectively. The transaction was resolved and approved by boards of directors of Toyota Housing and Misawa Homes on May 9, 2019. The transaction is expected to close on January 7, 2020. Nagashima Ohno & Tsunematsu acted as the legal advisor to Toyota Motor and Toyota Housing. Shearman & Sterling LLP acted as legal advisor to Toyota Motor Corporation. Hibiya Park Law Offices acted as the legal advisor to Misawa Homes. Nomura Securities Co., Ltd. acted as the financial advisor and valuer to Toyota. SMBC Nikko Securities, Inc. acted as the financial advisor and valuer to Misawa Homes. Deloitte Tohmatsu Financial Advisory LLC acted as the accounting and tax advisor to Toyota. Toyota Housing Corporation completed the acquisition of remaining 48.99% stake in Misawa Homes Co., Ltd. (TSE:1722) on January 7, 2020.