09:13 AM EDT, 06/20/2024 (MT Newswires) -- Toyota Motor ( TM ) major suppliers Denso and Aisin have sold their stakes in several Toyota ( TM )-affiliated companies, including Toyota Boshoku, Toyota Tsusho, Toyoda Gosei, and Hino Motors, Reuters reported Thursday, citing regulatory filings.

Denso and Aisin reduced their holdings in those companies to zero, while Aisin also sold its stake in Denso, according to Reuters. Both companies still hold stakes in other Toyota Group firms.

Toyota ( TM ) has said it will sell cross-shareholdings in an effort to speed its transformation, according to the report. Shareholder support for Toyota ( TM ) Chairman Akio Toyoda declined for the second consecutive year at the automaker's annual meeting this week, Reuters reported.

Toyota Motor ( TM ) shares were marginally down in Thursday premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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