CELEX: 32014M7426
Language: en
Date: 2014-11-04 00:00:00
Title: Commission Decision of 04/11/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7426 - GALLANT VENTURE / SUMITOMO / TOYOTA MOTOR / INDONESIAN JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 4.11.2014
                                        C(2014) 8328 final

|PUBLIC VERSION                                   |
|                                                 |
|SIMPLIFIED MERGER PROCEDURE                      |

                                        |                                                                       |To the notifying parties:                                              |

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7426 – GALLANT VENTURE/ SUMITOMO/ TOYOTA MOTOR/ INDONESIAN JV
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

 1. On 10 October 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation
    by which Hino Motors, Ltd. ("Hino", Japan), Indomobil Multi Jasa, TBK. ("Indomobil", Indonesia), and Summit  Global  Auto  Management,  B.V.
    ("Summit", Netherlands), owned by the Sumitomo Corporation ("Sumitomo", Japan), acquire within the meaning of Article 3(1)(b) of the  Merger
    Regulation joint control of a newly created company constituting a joint venture, PT. Hino Finance Indonesia, ("JVC", Indonesia) by  way  of
    purchase of shares.[2]

 2. The business activities of the undertakings concerned are:

  – Hino, part of Toyota Motors Corporation, is a producer of heavy-duty trucks and buses in Japan. Its product portfolio also  includes  light-
    commercial vehicles, passenger vehicles (commissioned from Toyota Motor Corporation) and a variety of engines and  spare  parts.  Hino  also
    designs and develops related products.

  – Indomobil, a fully controlled subsidiary of the Singaporean incorporated investment holding company Gallant Venture Ltd., is an  Indonesian-
    based company primarily active in vehicle sales distribution, after sales service, vehicle  ownership  financing,  spare  part  distribution
    vehicle assembly, automotive parts/component manufacturing and other related support services. They are the sole agents in Indonesia  for  a
    number of international automobile brands.

  – Sumitomo is an integrated Japan-based public trading company active in a variety  of  business  sectors,  both  within  and  outside  Japan,
    including: metal products, transportation and construction systems, environment and infrastructure, media,  network  and  lifestyle  related
    goods, mineral resources, energy, chemical and electronics.

  – JVC will provide financing services, such as auto leasing services and consumer finance, in Indonesia.

 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.[3]

 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.

                                        For the Commission

                                        (Signed)
                                        Alexander ITALIANER
                                        Director-General
-----------------------
[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]   Publication in the Official Journal of the European Union No C 368, 17.10.2014, p. 19.

[3]   OJ C 366, 14.12.2013, p. 5.