CELEX: 32019M9551
Language: en
Date: 2019-10-09 00:00:00
Title: Commission Decision of 09/10/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9551 - TOYOTA / PANASONIC / PRIME LIFE TECHNOLOGIES JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 9.10.2019
                                                                C(2019) 7375 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9551 – TOYOTA / PANASONIC / PRIME LIFE
                TECHNOLOGIES JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 10 September 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Toyota Motor
        Corporation (“Toyota”, Japan) and Panasonic Corporation (“Panasonic”, Japan),
        acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint
        control over Prime Life Technologies Corporation (“the JV”, Japan) by way of
        purchase of shares in a newly created company constituting a joint venture.3 Toyota
        and Panasonic will contribute several companies currently owned by either Toyota or
        Panasonic to the JV which, in return will issue new shares to them (share transfer
        under Japanese corporate law).
2.      The business activities of the undertakings concerned are:
              for Toyota: primarily active in the design, manufacture, assembly and sale of
                 passenger vehicles, minivans and commercial vehicles (such as trucks) and
                 related parts and accessories globally, in real estate business in Japan,
                 Indonesia, Australia and the United States and in elderly care services in
                 Japan.
              for Panasonic: primarily active in the development, manufacture, and sale of a
                 wide range of audio-visual and communication products, home appliances,
                 electronic components and devices (including batteries), industrial and other
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 315, 19.9.2019, p. 8.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---            products globally, in real estate business in Japan, Taiwan, Malaysia and
           Indonesia and in elderly care services in Japan.
        for the JV: to be active in construction services, housing construction, home
           remodelling and/or elderly care services mainly in Japan.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                    For the Commission
                                                    (Signed)
                                                    Cecilio MADERO VILLAREJO
                                                    Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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