With Toyota having sold some of its stake in Denso, KDDI and Harmonic Drive this year, it has set the ball rolling for unwinding its cross-shareholding. In this note, we look at potential candidates.
Boomeranged on Fri, 10 May 2024 14:28
KDDI has just announced that it will conduct a buyback at JPY3,896/share in which Toyota Motors plans to tender 49.8m shares or just around 2.3% of the company. KDDI was Toyota's largest cross-shareholding, apart from its group companies. Toyotal will stll have around 9% stake left.
SUMMARY
(Sign Up to Access)
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.