Toyota explores Y3tn stake divestment plan – report

Toyota Motor is considering disposing of strategic shareholdings worth about Y3tn ($19.21bn), with financial institutions and likely to begin sales this year, Reuters reported, citing sources. The potential divestment - which could expand depending on participation by shareholders - would represent a notable development in Japan’s ongoing corporate governance reforms. Toyota is expected to repurchase shares via buybacks, while a secondary placement to other investors has also been explored, one source t ...