In Line With Electric Vehicle Transformation, Toyota Is Ready To Sell 10 Percent Of Denso Shares

JAKARTA - Toyota Motor Company and its two affiliates, Toyota Industries and Aisin, are planning to sell about 10 percent of shares from the vehicle component maker's division, Denso, by the end of this year for around $4.7 billion.

This step marks the efforts of the Japanese vehicle manufacturer to profit from its affiliated shares in line with the increase in the production of electric vehicles completely.

Reporting from Reuters, Tuesday, November 28, Denso also plans to buy back some of its shares in the open market to ease the potential impact on its share price. However, Denso is still in the process of being considered regarding these measures, including the sale and buyback of shares.

A Toyota spokesperson stated that their company had not been able to provide official comments regarding Denso's plans, while a Toyota Industries spokesman confirmed that no decision had yet been made. Aisin stated that the report on the sale of shares was not something that had been officially announced.

With a value of 4.7 billion US dollars, the sale of these shares will be Japan's second-largest stock offering this year, after the sale of shares in the Japan Post Bank worth more than $9 billion in March, as LSEG data said. It will also be the largest stock offering in the automotive industry in more than a decade, reflecting a massive shift towards electric vehicles.