MITSUBISHI UFJ Financial Group and Sumitomo Mitsui Financial Group will start divesting 1.32 trillion yen (S$11.4 billion) worth of strategic shareholdings in Toyota Motor, sources with knowledge of the matter said, the strongest sign yet that Japan’s big businesses are getting serious about unwinding their vast network of cross-held shares.
Home Investments Mitsubishi, Sumitomo Mitsui banks to divest 1.32 trillion yen in Toyota shareholdings
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