Toyota Plans to Reduce Stake in Top Auto-Parts Supplier Denso

Toyota Plans to Reduce Stake in Top Auto-Parts Supplier Denso Bosch Fuel Injector For Kobelco

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Toyota Motor said it plans to sell about 125 million shares in its top auto-parts supplier Denso, a stake worth about $1.95 billion based on Denso’s share price as of Wednesday’s close.

Toyota’s stake in Denso would fall to 20% from around 24%, Toyota Chief Communications Officer Jun Nagata said, speaking online Wednesday. Denso said in a separate statement that it would buy back up to 125 million shares.

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Toyota Plans to Reduce Stake in Top Auto-Parts Supplier Denso - WSJ