Denso to Sell Entire Stake in Toyota Industries as Group Unwinds

Denso Corp., a major supplier of electronics for car manufacturers, will sell its entire stake in Toyota Industries Corp. as the constellation of Toyota group companies unwind their cross shareholdings.

The manufacturer will divest as much as 29.6 million shares, valued at ¥464 billion ($3.1 billion) yen at current prices, according to Bloomberg calculations. Denso will adopt a phased sale over the next 30 months, in 10 installments, while considering the market impact of the sales, it said in a filing Friday.

Toyota Motor Corp. and its affiliates said in November that they will cut their shareholdings in ...