Toyota, Denso to Offload Aisin Shares in $1.3 Billion Deal
- Denso, Toyota Industries also planning to sell some stock
- Government pushing corporate Japan to unwind cross holdings
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Toyota Motor Corp. is selling part of its stake in Aisin Corp., a major vehicle parts supplier, the latest sign momentum is building in Japan’s push to get large companies to unwind their cross shareholdings.
Denso Corp. and Toyota Industries Corp. are also planning to unwind a portion of their holdings in Aisin in a sale that could be worth as much as ¥204 billion ($1.3 billion) based on the company’s closing price, including shares offered as over allotment depending on demand.