TOKYO: Toyota Motor and two affiliates will sell 33.9 million shares in group supplier Aisin, the companies said on Thursday, a deal worth 177.5 billion yen ($1.11 billion) as of the latest stock price.
The other sellers are Denso and Toyota Industries , Aisin said, adding the sale price has yet to be determined.
Toyota, the world’s top-selling automaker, said in a separate statement it will reduce its stake in Aisin to 20% from 24.8% of issued shares by selling about 13 million shares.
The latest sale follows a similar move in November when Toyota, Aisin and Toyota Industries decided to sell shares in Denso, an action that sparked investor hopes the automaker would shed more of its cross-shareholdings.
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