• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Thursday, July 10, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home News

Toyota announces $5.16 bn share buyback plan to boost governance

David Ijaseun by David Ijaseun
July 23, 2024
in News, Premium
0
Toyota shares

Toyota shares

852
SHARES
9.7k
VIEWS
Share on FacebookShare on Twitter

Toyota Motor Corporation announced on Tuesday its plan to initiate a tender offer worth 807 billion yen ($5.16 billion) to repurchase its own shares. This significant move comes as part of a broader governance reform prompted by the Tokyo Stock Exchange, urging major corporations to reduce cross-shareholdings.

Cross-shareholding, a practice where companies hold shares in each other to strengthen business relationships, has been criticized by governance experts and foreign investors for fostering weak governance. Critics argue that it shields management from shareholder scrutiny, potentially leading to less accountability and oversight.

READ ALSO

Why Volkswagen, Volvo, Toyota recall nearly 7,000 vehicles in South Africa

Porsche absorbs $351m tariff costs to shield U.S. buyers from price hikes

In line with these reforms, major Japanese banks, including Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group (SMFG), are set to divest Toyota shares valued at a combined $8.5 billion, according to a Bloomberg News report last month.

Toyota stated it will offer 2,781 yen per share for the buyback, which will be open from July 24 to August 26. This buyback initiative is seen as a strategic step towards enhancing corporate governance and improving shareholder value.

In addition to the tender offer, other prominent financial institutions such as SMFG, Tokio Marine Holdings, and MS&AD Insurance Group have announced their plans to sell back Toyota shares to the automaker. This collective effort by these companies underscores a significant shift in Japan’s corporate landscape, driven by the push for better governance and transparency.

The tender offer reflects a growing trend among Japanese corporations to adapt to global governance standards, aiming to attract more foreign investment and enhance overall market confidence. As Japan’s corporate governance reforms continue to unfold, the impact on business practices and investor relations is expected to be profound and far-reaching.

Read more on Toyota partners GAC to launch self-driving EV in China by 2025

Tags: HeadlineToyota

Related Posts

Vehicle recalls in South Africa
Africa

Why Volkswagen, Volvo, Toyota recall nearly 7,000 vehicles in South Africa

July 10, 2025
Porsche 911 by Singer
News

Porsche absorbs $351m tariff costs to shield U.S. buyers from price hikes

July 10, 2025
Lucid Motors
Electric Vehicles

Lucid sets new Guinness Record with 747-mile drive, leaving Tesla in the dust

July 10, 2025
Electric rush: American car buyers race to beat end of $7,500 EV tax credit
Electric Vehicles

Electric rush: American car buyers race to beat end of $7,500 EV tax credit

July 10, 2025
Christian Horner, sacked Red Bull team principal
News

End of an era: Why Red Bull sacked team principal Horner after 20 years, 124 wins

July 9, 2025
The automaker power shift: Who’s winning the U.S. market so far in 2025?
Business

The automaker power shift: Who’s winning the U.S. market so far in 2025?

July 9, 2025
Next Post
GM Cruise

GM pauses development of its self-driving car indefinitely

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Wealth on Wheels: Nigerian celebrities flaunt foreign luxury cars, but at what cost?

Wealth on Wheels: Nigerian celebrities flaunt foreign luxury cars, but at what cost?

August 8, 2023

Offer Cheap Tickets and Multiple Destinations Make Lion Air favorite

April 23, 2023
How Nigeria’s ELV recycling initiative could transform the auto industry

How Nigeria’s ELV recycling initiative could transform the auto industry

March 8, 2025
Zeekr

Russian EV market grows 350% with Zeekr at the forefront

June 27, 2024

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Why Volkswagen, Volvo, Toyota recall nearly 7,000 vehicles in South Africa
  • Porsche absorbs $351m tariff costs to shield U.S. buyers from price hikes
  • Lucid sets new Guinness Record with 747-mile drive, leaving Tesla in the dust
  • Electric rush: American car buyers race to beat end of $7,500 EV tax credit

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In