CELEX: 32019M9382
Language: en
Date: 2019-07-05 00:00:00
Title: Commission Decision of 05/07/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9382 - Toyota Motor Corporation / Mazda Motor Corporation / SMM Auto Finance, Inc.) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 5.7.2019
                                                                C(2019) 5236 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9382 – TOYOTA FINANCIAL SERVICES / MAZDA MOTOR
                CORPORATION / SMM AUTO FINANCE
                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 13 June 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Toyota Financial Services Corporation (‘TFS’, Japan), ultimately
        controlled by the Toyota Motor Corporation (‘TMC’, Japan) and Mazda Motor
        Corporation (‘MMC’, Japan), acquire within the meaning of Article 3(1)(b) and
        Article 3(4) of the Merger Regulation joint control over the whole of the undertaking
        SMM Auto Finance, Inc. (‘SMMAF’, Japan) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             TFS offers a range of financial services, including auto sales financing, credit
              cards and insurance services,
             MMC is active in the development, manufacture and marketing of motor vehicles
              and related spare parts and accessories,
             SMMAF provides motor vehicle finance services to Japanese consumers for
              Mazda motor vehicles bought 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
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 209, 20.06.2019, p. 42.
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---    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)
                                                  Johannes LAITENBERGER
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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