CELEX: 32020M9758
Language: en
Date: 2020-03-13 00:00:00
Title: Commission Decision of 13/03/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9758 - TOYOTA FINANCIAL SERVICES CORPORATION / MITSUI & CO / KINTO BRASIL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 13.3.2020
                                                                C(2020) 1709 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9758 - TOYOTA FINANCIAL SERVICES CORPORATION /
                MITSUI & CO / KINTO BRASIL
                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 19 February 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Toyota
        Financial Services Corporation (‘TFS’, Japan) and Mitsui & Co., Ltd. (‘Mitsui’,
        Japan) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger
        Regulation joint control of a newly created company to be named KINTO Brasil
        Serviços de Mobilidade Ltda (‘KINTO Brasil’, Brazil) by way of purchase of shares. 3
2.      The business activities of the undertakings concerned are:
              for TFS: financial services globally, including vehicle sales financing and
                 leasing services for individuals and businesses. TFS is controlled by Toyota
                 Motor Corporation, which engages, among other activities, in the manufacture,
                 sale, leasing and repair of motor vehicles.
              for Mitsui: general trading activities worldwide, including worldwide logistics
                 and financing.
              for KINTO Brasil: mobility services to end-customers in Brazil. These
                 services include the leasing of vehicle, car sharing services and multi-modal
                 mobility services.
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 (the ‘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 64, 27.2.2020, p. 37.
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--- 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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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