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Top related persons:
” - 1 Masahiro Yamamoto - 1 Yamamoto - 1 Yamamato - 1 Yuri Kageyama - 1
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TOKYO - 1 Toyota - 1 Toyota Motor Corp - 1 Denso Corp - 1 Toyota Industries - 1 Lexus - 1 KDDI Corp - 1

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☆ Toyota Selling Part of Denso Stake to Raise Cash to Develop Electric Vehicles
  + stars: | 2023-11-29 | by ( Associated Press | Nov. | At A.M. | ) www.usnews.com   time to read: +2 min
TOKYO (AP) — Toyota is selling a part of its stake in components maker Denso to raise cash for its drive toward electric vehicles and other innovations, Japan's top automaker said Wednesday. The move is estimated to raise about 290 billion yen ($2 billion), given recent share prices. Toyota affiliates, Toyota Industries and Aisin, are also selling a portion of their Denso shares, officials said. Toyota officials have acknowledged they have fallen behind in the industry shift toward electric vehicles, and they have been aggressively playing catch-up. Toyota officials hinted other such offers may be in the works but declined to give specifics.
Persons: ”, Masahiro Yamamoto, Yamamoto, Yamamato, Yuri Kageyama Organizations: TOKYO, Toyota, Toyota Motor Corp, Denso Corp, Toyota Industries, Lexus, KDDI Corp
☆ Toyota cuts output target amid chip crunch as profit tumbles 25%
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +3 min
Operating profit for the three months ended September fell to 562.7 billion yen ($3.79 billion), well short of an average estimate of 772.2 billion yen in a poll of 12 analysts by Refinitiv. A year earlier, Toyota sales reported a 749.9 billion yen profit. Toyota said it now expects to produce 9.2 million vehicles this fiscal year, down from the previously forecast 9.7 million but still ahead of last financial year's production of 8.6 million units. Amid the gloom, shares in Toyota fell more than 2%, versus a 0.1% rise in the Nikkei (.N225) average. Toyota estimated in August that materials costs for the full year will be 1.7 trillion yen, a 17% increase from previous estimate.
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