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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Toyota to sell entire stake in Japan’s Harmonic Drive Systems – filing

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Photo Credit: Alexandr Blinov Photo Credit: Alexandr Blinov
Toyota Logo
Photo Credit: Alexandr Blinov Photo Credit: Alexandr Blinov

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On Wednesday, the Japanese manufacturer of speed reducers, Harmonic Drive Systems (6324.T), announced that Toyota Motor (7203.T) will sell its full ownership in the firm on the open market in other countries.

Investors may have high hopes that Toyota will speed up the sale of its shareholdings in affiliates and partners as a result of this action. This comes after the company said last week that it would sell a stake in Denso (6902.T), a supplier that is a cornerstone of the Toyota group.

After announcing in July that it would sell part of its assets in the telecom giant KDDI (9433.T), the world’s most famous automobile manufacturer said it would sell some of its shares to accelerate the electrification process.

According to a regulatory filing, the manufacturer of precision control equipment, Toyota, will sell 4,379,400 shares of Harmonic Drive Systems at a price that has not yet been determined.

At the closing price of 4,135 yen per share on Wednesday, the holding was valued at 18.1 billion yen, equivalent to 123 million dollars.

To mitigate the transaction’s impact on its shareholders, Harmonic Drive Systems has announced that it will repurchase up to 700,000 of its shares, which would amount to up to 0.73% of its total outstanding stock.


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