Toyota (7203.T), opens new tab sold $2 billion worth of cross shareholdings of listed companies in the year that just ended, the Japanese automaker disclosed in a regulatory filing on Tuesday.
The world's top-selling automaker sold 325.9 billion yen ($2.04 billion) worth of such shares in the business year to end-March. It still has 124 such stakes, from 141 previously, the filing showed. The scope of its cross-shareholding and the pace of the selling is being closely watched by the market, given Toyota's influence and stature in corporate Japan.
Toyota reduced its stakes in airlines ANA Holdings (9202.T), opens new tab, Japan Airlines (9201.T), opens new tab and East Japan Railway (9020.T), opens new tab to zero. Those firms did not hold shares of the car maker.
