Toyota to Sell $4.7B Stake in Denso to Fund EV Transition

The sale, part of Toyota's strategy to liquidate stakes in group companies, follows a similar move in July when it sold a stake in telecoms company KDDI Corp.

Toyota and its affiliates plan to sell about 10% of their shares in Denso, a major automotive components manufacturer, by the end of the year. The sale is expected to raise about $4.7 billion.
The sale is part of Toyota's strategy to liquidate stakes in group companies to fund its transition to electric vehicles (EVs).
Denso plans to buy back some of its own shares to offset the potential impact on its share price.
Toyota, which held a 24.2% stake in Denso as of the end of September, is expected to remain the top shareholder after the sale.
This move follows Toyota's sale of a stake in telecoms company KDDI Corp in July, which raised nearly $1.7 billion.