Toyota sold $2bn worth of cross-held listed shares, reducing stakes in airlines and railways, as part of its streamlined cross-shareholding strategy.
Toyota, the world's top-selling automaker, sold $2bn worth of cross-held listed shares in the fiscal year ending March 2024, according to a regulatory filing. The company reduced its stakes in airlines ANA Holdings, Japan Airlines, and East Japan Railway to zero, as part of its streamlined cross-shareholding strategy. Toyota now holds 124 cross shares, down from 141 previously, with its actions closely monitored due to its influence in corporate Japan.
June 25, 2024
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