The Japanese giant Toyota Motor would be preparing to sell a part of the shares of the components supplier Denso (the second largest in the world) that are owned by it and the two related companies Toyota Industries and Aisin. The operation - according to Automobilwoche - would aim to recover liquidity to support investments in eMobility that have now become 'central' also for the House of the two ellipses.
When the placement is completed, Toyota could collect the consideration of 4.3 billion euros, while remaining the main shareholder of Denso with 20% of shares (today the stake is 24.2%). Historically, the stake in the component supplier stems from the habit of cross-referencing shares, typical of the Japanese economy. In recent years, an increasing number of companies in Japan have liquidated these stake exchanges.
In the case of Denso, the re-introduction of its shares on the market could allow it to buy back and thus achieve greater stability in the stock market trend.
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