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Toyota sold $2 billion worth of cross-held listed shares in FY2023/24, filing shows

2024.06.25 02:50

TOKYO (Reuters) – Toyota (NYSE:) sold $2 billion worth of cross shareholdings of listed companies in the year that just ended, the Japanese automaker disclosed in a regulatory filing on Tuesday.

The world’s top-selling automaker sold 325.9 billion yen ($2.04 billion) worth of such shares in the business year to end-March.

It still has 124 such stakes, from 141 previously, the filing showed.

The scope of its cross-shareholding and the pace of the selling is being closely watched by the market, given Toyota’s influence and stature in corporate Japan.

© Reuters. FILE PHOTO: A Toyota logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo

Toyota reduced its stakes in airlines ANA Holdings, Japan Airlines and East Japan Railway to zero. Those firms did not hold shares of the car maker.

($1 = 159.4300 yen)



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