Toyota Investors to Sell $19 Billion in Stock, Reuters Says

Toyota Motor Corp. is planning to unwind about ¥3 trillion ($19 billion) of strategic shareholdings held by banks and other financial institutions, in a major boost to Japan’s corporate reform efforts, Reuters reported.

The value of the sale may be higher, depending on the willingness of shareholders to sell, Reuters said, citing people familiar with the matter it didn’t identify. Toyota is aiming for the sale to happen as early as this year, though the timing and scale could change — or the plan could be abandoned altogether, it said.