13F-HR: Toyota Motor Corp Discloses $1.6 Billion in U.S. Equity Holdings in Retroactive 13F Filing

Toyota Motor Corp files a retroactive Form 13F-HR, revealing over $1.6 billion in U.S. equity holdings as of September 30, 2021, including significant positions in Didi Global, Joby Aviation, and Uber Technologies.

Summary

• Toyota Motor Corp (TMC) has submitted a retroactive Form 13F-HR for the quarter ended September 30, 2021.
• The filing reveals that TMC held $1,619,790,808 in U.S. equity holdings.
• The portfolio included 6 positions.
• Significant holdings included 41,231,364 shares of Didi Global Inc, valued at $321,192,326.
• TMC also held 72,871,831 shares of Joby Aviation Inc, valued at $733,090,620, and an additional 5,880,780 shares of Joby Aviation Inc, valued at $59,160,647.
• The filing also shows 10,251,736 shares of Uber Technologies Inc, valued at $459,277,773, and an additional 1,025,174 shares of Uber Technologies Inc, valued at $45,927,795.
• The filing is a self-correction measure after an internal determination that TMC was subject to Form 13F reporting for the period.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document primarily reports holdings. The retroactive nature of the filing is a minor concern, but the self-correction effort is a positive sign.

Positives

• The disclosure provides transparency into Toyota Motor Corp's U.S. equity holdings.

Negatives

• The filing is retroactive, indicating a prior lack of compliance with Form 13F reporting requirements.

Risks

• The retroactive nature of the filing may raise questions about Toyota Motor Corp's internal controls and compliance procedures.
• The significant holdings in companies like Didi Global, Joby Aviation, and Uber Technologies expose Toyota to the specific risks associated with these companies and their respective industries.

Management Comments

• Toyota Motor Corp ('TMC') is submitting this retroactive Form 13F-HR following an internal determination that it was subject to Form 13F reporting for the applicable period.
• Accordingly, TMC is submitting this filing as part of its self-correction measures.

Industry Context

The filing provides insight into Toyota's investment strategy in the technology and transportation sectors, particularly its interest in ride-sharing and electric vertical takeoff and landing (eVTOL) companies.

Comparison to Industry Standards

• Comparing Toyota's investment portfolio to other major automotive manufacturers' investment arms could reveal differences in strategic focus.
• For example, comparing Toyota's investment in Joby Aviation to investments made by Daimler or General Motors in similar eVTOL companies could provide insights into their respective approaches to future mobility.
• Benchmarking the returns on these investments against industry averages for venture capital or private equity investments in the transportation sector would also be relevant.

Stakeholder Impact

• Shareholders gain insight into Toyota's investment strategy.
• The filing may influence the market perception of the companies in which Toyota holds significant positions.

Key Dates

Keywords

Form 13F, Toyota Motor Corp, Equity Holdings, Investment, Didi Global, Joby Aviation, Uber Technologies