Denso Corporation announced on Friday that it had sold a portion of its shareholding in Toyota Industries Corporation and executed a share forward agreement for the remainder of its shares.
The leading global automotive components manufacturer stated that it has sold 2,965,595 shares (0.91% of the total issued shares) and entered into a forward agreement concerning the remaining 26,682,300 shares (8.19% of the total issued shares), which will be phased out over two and a half years.
"The company will continue to maintain and strengthen its business relationship with Toyota Industries even after the completion of this share sale," Denso added in the statement.
