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Toyota Sells $2 Billion in Cross-Held Listed Shares in FY2023/24

Toyota (NYSE: TM) has disclosed in a regulatory filing that it sold $2 billion worth of cross-shareholdings of listed companies during the fiscal year ending March 2024. This move by the Japanese automaker marks a significant reduction in its cross-shareholding portfolio.

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Key Details:

Toyota sold 325.9 billion yen ($2.04 billion) worth of cross-shareholdings in the past fiscal year.

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As a result of these sales, the number of such stakes held by Toyota has decreased to 124 from 141 previously.

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Notably, Toyota completely divested its stakes in airlines ANA Holdings, Japan Airlines, and East Japan Railway. These companies did not reciprocally hold shares in Toyota.

Market Implications:

The scale and pace of Toyota’s divestment from cross-shareholdings are closely monitored by the market, reflecting Toyota’s significant influence within corporate Japan. This strategic shift underscores Toyota’s focus on optimizing its investment portfolio and capital allocation strategy.

Toyota’s actions in reshaping its cross-shareholding portfolio are expected to influence market perceptions and strategies among other corporate entities engaging in similar cross-holding practices.

This disclosure underscores Toyota’s proactive approach in managing its financial assets and aligning its investment activities with strategic objectives.

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