Abstract: In a tool transfer apparatus, a pair of support shafts, which have tool transfer arms fixed thereto, are coaxially mounted for rotational and axial movement. A pair of driven gears are respectively formed on the support shafts. A pair of elongated drive gears are engaged with each other and engageable with the driven gears. One of the drive gears is driven by a single drive device. The driven gears are selectively shiftable together into a first predetermined position where the driven gears are rotatable in opposite directions through the drive gears and into a second predetermined position where the driven gears are rotatable in the same direction through one of the drive gears.