Harmonic Drive Systems, a Japanese maker of speed reducers, said on Wednesday that Toyota Motor will sell its entire stake in the company in the open market overseas.
The move could fan hopes among investors that Toyota will accelerate sales of shareholdings in affiliates and partners following last week’s announcement it would divest a stake in supplier Denso, a pillar of the Toyota group.
That share sale came after the world’s top-selling automaker said in July it would sell some of its holdings in telecom giant KDDI, as it invests to speed up electrification.
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