UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events.
On November 19, 2021, Toyota Motor Credit Corporation (the “Company” and together with certain of its affiliates “Toyota”) announced, in furtherance of its private label financial services initiative for third party automotive and mobility companies, that Toyota had entered into a nonbinding letter of intent with Great American Outdoors Group LLC, the parent company of Bass Pro Shops, Cabela’s and the White River Marine Group (“Bass Pro Shops”) to provide private label financial services for Bass Pro Shop’s boats, all-terrain vehicle products, and other mobility products under the name Bass Pro Shops Financial Services. The Company expects to provide inventory financing for Bass Pro Shops, its affiliates, and authorized independent dealers, starting in May 2022, with additional private label services, including consumer financing and voluntary protection products and services, to be added over time.
Forward-looking Statements
All statements in this report that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations and currently available information. Actual results and events in future periods may differ materially from these expectations due to certain risks, uncertainties and other important factors, including, among others, our ability to reach agreement with Bass Pro Shops for the provision of private label financial services, our ability to leverage our strengths and capabilities to serve and retain new private label and other customers, our ability to manage costs and realize benefits related to our private label financing programs, our ability to successfully accommodate any additional risk exposure relating to the provision of financing Bass Pro Shops, its affiliates and authorized independent dealer network and any resulting impact to our financial results, consumer demand for Bass Pro Shops products and services, the profitability and financial condition of Bass Pro Shops, its affiliates and authorized independent dealer network, and the risk factors set forth in the most recent annual and periodic reports of the Company. The Company does not undertake to update the forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking statements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TOYOTA MOTOR CREDIT CORPORATION | |||
| Date: November 19, 2021 | By: | /s/ Scott Cooke | |
| Scott Cooke | |||
| Group Vice President and Chief Financial Officer | |||