August 4, 2017 / 4:06 AM / 6 months ago

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

TOKYO (Reuters) - Mazda Motor Corp (7261.T) will issue new shares to Toyota Motor Corp (7203.T) 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

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