Tokai Kogyo Holdings will acquire all of the voting shares of Kinugawa Rubber Industrial Holdings from Development Bank of Japan and Commons Share Holdings and integrate the two automotive rubber and plastics parts makers, the companies said in a joint announcement dated 2 November 2026. Terms were not disclosed.
Why Tokai Kogyo Holdings Co., Ltd. is buying Kinugawa Rubber Industrial Holdings Co., Ltd. (100% of voting shares, from Development Bank of Japan and Commons Share Holdings)
The companies said the market for automotive rubber and resin parts faces intensifying competition at home and abroad as Japanese, Western and Chinese carmakers compete globally. They expect synergies in technology, supply capacity and human capital, a stronger operating base and a firmer platform for global expansion as one group.
Deal terms and financing
Tokai Kogyo Holdings, based in Obu, Aichi, is buying all of Kinugawa's voting shares from Development Bank of Japan and Commons Share Holdings. Kinugawa has 540,080 shares in issue, including 80 dividend-preference shares. No consideration was given.
Market context
Tokai Kogyo, founded in 1947 and operating in nine regions, makes body seals, seats and in-vehicle electronic parts and had consolidated revenue of ¥87.6bn in the year to March 2026. Kinugawa, founded in 1939 and based in Chiba, makes body seals, hoses and anti-vibration rubber in seven regions and had revenue of ¥65.3bn. Development Bank of Japan acquired Kinugawa through a tender offer in 2016. Nikkei Asia described the companies as part of the Toyota and Nissan supplier networks respectively.
