Mitsubishi UFJ and Sumitomo Mitsui Financial Group plan to sell $8.5bn Toyota shares as part of Japan's efforts to reduce cross-shareholdings.
Mitsubishi UFJ and Sumitomo Mitsui Financial Group plan to sell $8.5bn worth of Toyota shares, part of Japan's efforts to reduce cross-shareholdings. The banks will sell shares in stages, taking advantage of Toyota's buyback plan. Toyota is also unwinding shareholdings within its manufacturing partners, such as Denso Corp and KDDI Corp, to fund its shift to electric vehicles.
June 07, 2024
5 Articles