August 4, 2017 / 4:01 AM / a year ago

Mazda to issue new shares for Toyota to take stake - Nikkei

TOKYO, Aug 4 (Reuters) - Mazda Motor Corp will issue new shares to Toyota Motor Corp as part of an agreement that will see Toyota take a roughly 5 percent stake in its smaller rival, the Nikkei business daily reported in its online edition.

Toyota President Akio Toyoda and Mazda President Masamichi Kogai will hold a joint news conference as early as Friday to announce the deal, the paper said, without citing its sources.

The Nikkei earlier reported the plan for a capital alliance. Toyota and Mazda have said they would discuss cooperation at a board meeting Friday. (Reporting by Tokyo Newsroom; Editing by Clara Ferreira Marques)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below