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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Mitsuboshi Belting Ltd.    5192   JP3904000001

MITSUBOSHI BELTING LTD.

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Toyota holds $293 million stake in Uber, governance report shows

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06/24/2020 | 05:53am EDT
A logo of Toyota is pictured at Bangkok Auto Salon 2019 in Bangkok

Toyota Motor Corp holds a $293 million (£234 million) stake in Uber Technologies, as it partners with the ride-hailing company to further expand into new mobility services, Toyota's latest corporate governance report released on Wednesday showed.

The Japanese automaker has also unloaded shares in some of its suppliers, adjusting its portfolio to reflect partnerships with rival automakers and technology firms as it transforms into a mobility services company, the report showed.

Reporting the total size of its stake in Uber, which became a listed company last year, Toyota said it held 10.25 million shares valued at 31.15 billion yen (£233.89 million) as of March 30. That is around 0.6% of Uber's outstanding shares, according to a Reuters calculation.

Toyota, one of the world's biggest automakers, said it had reduced its shareholdings in 24 companies and increased them in 10, including two listed companies.

In the past year, it took a stake in rival Suzuki Motor Corp as the pair deepen cooperation around the development of lower emission vehicles.

Toyota sold its stakes in cutting tool manufacturer OSG Corporation, Nippon Steel Corporation, automotive lights and interior mirrors maker Ichikoh Industries, and transmission belt maker Mitsuboshi Belting.

"If Toyota determines a shareholding is no longer meaningful or the meaning of a shareholding has been diluted due to changes in business environment or other reasons, (it) will proceed with the sale of such shares," the automaker said in the report.

Toyota currently has an interest in 174 firms, including 65 listed companies, compared with 200 firms in 2015, of which 80 were listed companies.

Toyota's biggest shareholders remained the same, although investors including Nippon Life Insurance Co, JPMorgan Chase Bank N.A. and State Street Bank and Trust Company slightly increased their stakes, the latter two through proxy Mizuho Bank.

(Reporting by Naomi Tajitsu; Editing by Kirsten Donovan)

Stocks mentioned in the article
ChangeLast1st jan.
ICHIKOH INDUSTRIES, LTD. -1.41% 488 End-of-day quote.-35.70%
JPMORGAN CHASE & CO. 0.04% 102.41 Delayed Quote.-26.54%
MITSUBOSHI BELTING LTD. -1.61% 1767 End-of-day quote.-16.18%
MIZUHO FINANCIAL GROUP, INC. -0.42% 143.8 End-of-day quote.-14.56%
NIPPON STEEL CORPORATION -0.15% 1028.5 End-of-day quote.-37.82%
OSG CORPORATION -2.29% 1578 End-of-day quote.-24.50%
OSG CORPORATION CO., LTD. 1.81% 1853 End-of-day quote.-6.41%
SUZUKI MOTOR CORPORATION -0.14% 4195 End-of-day quote.-8.15%
TOYOTA INDUSTRIES CORPORATION -0.32% 6160 End-of-day quote.-2.69%
TOYOTA MOTOR CORPORATION -1.43% 7181 End-of-day quote.-6.91%
UBER TECHNOLOGIES, INC. -1.54% 29.99 Delayed Quote.0.84%
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Toute l'actualité sur MITSUBOSHI BELTING LTD.
06/24Toyota holds $293 million stake in Uber, governance report shows
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03/30MITSUBOSHI BELTING LTD. : Ex-dividend day for final dividend
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2018MITSUBOSHI BELTING LTD. : REVERSE SPLIT: 1 of 2
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2018MITSUBOSHI BELTING LTD. : Ex-dividend day for interim dividend
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2018MITSUBOSHI BELTING LTD. : Ex-dividend day for final dividend
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2017MITSUBOSHI BELTING LTD. : Ex-dividend day for interim dividend
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2017MITSUBOSHI BELTING LTD. : Ex-dividend day for final dividend
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Financials
Sales 2021 69 000 M 647 M 647 M
Net income 2021 4 400 M 41,3 M 41,3 M
Net Debt 2021 - - -
P/E ratio 2021 11,7x
Yield 2021 3,06%
Capitalization 51 379 M 483 M 482 M
Capi. / Sales 2021 0,74x
Capi. / Sales 2022 0,73x
Nbr of Employees 4 277
Free-Float 78,2%
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Number of Analysts 1
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Last Close Price 1 767,00 
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Managers
NameTitle
Hajime Kakiuchi Executive President & Representative Director
Yoshio Yamaguchi Director & General Manager-Research & Development
Takashi Sasaki Manager-Information Systems & Head-Nagoya Region
Norio Nishikawa Honorary Chairman
Masayoshi Nakajima Director & Senior Managing Executive Officer
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