India, Aug. 13 -- Toyo Tire Corporation said Mitsubishi Corporation has ceased to be a major shareholder after tendering its entire holding through a treasury share buyback, ending its status as the company's largest shareholder.

The change took effect on 10th August, 2026, following Toyo Tire's acquisition of its own shares through off-auction trading (ToSTNeT-3). Mitsubishi tendered all its shares, excluding less than one unit, as part of the transaction.

As a result, Mitsubishi is no longer classified as a major shareholder or associated company of Toyo Tire, the company said.

Before the transaction, Mitsubishi held 30,822,206 shares, equivalent to 20.07 percent of total voting rights, and ranked as the largest shareholder. Followin...