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Financials
Size
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Market Cap £23.60bn
Enterprise Value £615.4m
Revenue £19.66bn
Position in Universe 30th / 3862

Toyota holds $293 mln stake in Uber, governance report shows

Wed 24th June, 2020 12:44pm
TOKYO, June 24 (Reuters) - Toyota Motor Corp  7203.T  holds
a $293 million stake in Uber Technologies  UBER.N , as it
partners with the ride-hailing company to further expand into
new mobility services, Toyota's latest corporate governance
report released on Wednesday showed. 
    The Japanese automaker has also unloaded shares in some of
its suppliers, adjusting its portfolio to reflect partnerships
with rival automakers and technology firms as it transforms into
a mobility services company, the report showed.
    Reporting the total size of its stake in Uber, which became
a listed company last year, Toyota said it held 10.25 million
shares valued at 31.15 billion yen ($292.46 million) as of March
30. That is around 0.6% of Uber's outstanding shares, according
to a Reuters calculation.
    Toyota, one of the world's biggest automakers, said it had
reduced its shareholdings in 24 companies and increased them in
10, including two listed companies.
    In the past year, it took a stake in rival Suzuki Motor Corp
 7269.T  as the pair deepen cooperation around the development
of lower emission vehicles. 
    Toyota sold its stakes in cutting tool manufacturer OSG
Corporation  6136.T , Nippon Steel Corporation  5401.T ,
automotive lights and interior mirrors maker Ichikoh Industries
 7244.T , and transmission belt maker Mitsuboshi Belting
 5192.T .
    "If Toyota determines a shareholding is no longer meaningful
or the meaning of a shareholding has been diluted due to changes
in business environment or other reasons, (it) will proceed with
the sale of such shares," the automaker said in the report. 
    Toyota currently has an interest in 174 firms, including 65
listed companies, compared with 200 firms in 2015, of which 80
were listed companies. 
    Toyota's biggest shareholders remained the same, although
investors including Nippon Life Insurance Co  NPNLI.UL ,
JPMorgan Chase Bank N.A.  JPM_pd.N  and State Street Bank and
Trust Company  STTBT.UL  slightly increased their stakes, the
latter two through proxy Mizuho Bank  8411.T . 


($1 = 106.5100 yen)

 (Reporting by Naomi Tajitsu; Editing by Kirsten Donovan)
 ((naomi.tajitsu@thomsonreuters.com; +81364411078; Reuters
Messaging: naomi.tajitsu.thomsonreuters.com@reuters.net))
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