In a regulatory filing, Harmonic Drive Systems stipulated that Toyota would sell 4,379,400 shares in the company, however, no price has been specified. According to Wednesday’s closing price of 4,135 yen per share, Toyota’s stake in the precision control equipment maker would be worth 18.1 billion yen ($123 million).

As a means of limiting the impact of Toyota’s sale on its shareholders, Harmonic Drive Systems confirmed that it would buy back 700,000 of its shares. This accounts for about 0.73% of its outstanding stock.

The post Toyota to Sell Entire Stake in Harmonic Drive Systems appeared first on theprimarymarket.com.

The motion of support for the resolution from the ISS comes after several climate activist bodies have already placed pressure on the automaker to transition towards all-battery electric vehicles.

Among those firms that have expressed an interest in this transition are Danish pension fund AkademikerPension, Dutch pension investor APG Asset Management, and Norway’s Storebrand Asset Management, all of whom want the Japanese automaker to commit to an annual review of its climate-change lobbying.

Toyota had urged its shareholders to vote against the proposed legislation, however, saying that the level of disclosure that is required by the resolution is unsuitable to implement in the company’s existing articles of incorporation.

The post Toyota Climate Resolution Receives Backing From ISS appeared first on theprimarymarket.com.

Quarterly sales surged almost 20% to 9.69 trillion yen ($72 billion). According to the automaker, the rise in sales was complemented by the fact that the global chip supply shortage has subsided as of late.

Global automakers were affected by the chip shortage, which was caused by work restrictions that were implemented because of the coronavirus pandemic. This led to a major halt in production.

From January through March, Toyota experienced rising sales across several global markets, including Japan, the United States, and Europe, along with several regions across Asia, the Middle East, and South America.

Toyota confirmed in a statement that it is committed to fueling further growth and expanding its ecological offerings, including hybrids, plugins, and battery electric vehicles. New company CEO Koji Sato confirmed that the company needs to expand its EV offerings in order to compete with market leaders such as Tesla and BYD.

The post Toyota Q1 Profit Rises as Chip Shortage Subsides appeared first on theprimarymarket.com.

Subaru Corp., in which Toyota has a 20 percent stake, had it even worse after being forced to recall its first EV model Solterra. Around 2,600 Solterras, a model with many similarities with bZ4X, have been taken off the market. In the immediate aftermath, Subaru’s stock lost close to five percent of its value on Friday.

Detailing the issue with bZ4X, Toyota indicated that only a handful of units were affected by the issue. The problem, fortunately, didn’t cause any accidents, and the automaker is expecting to fix it in the near future.

Toyota was a pioneer in the electric car movement with its hybrid Prius model, but the company has struggled to make a mark on the EV market so far. The major issues for the company have been the global shortage of materials, which caused production delays, as well as slow urgency to put a bigger focus on all-electric cars. The recent recalls certainly don’t help, and it will be interesting to see how Toyota (and Subaru) bounce back after it.

The post Toyota and Subaru Stocks Plunge Amid Electric Cars Recall appeared first on theprimarymarket.com.

In a regulatory filing, Harmonic Drive Systems stipulated that Toyota would sell 4,379,400 shares in the company, however, no price has been specified. According to Wednesday’s closing price of 4,135 yen per share, Toyota’s stake in the precision control equipment maker would be worth 18.1 billion yen ($123 million).

As a means of limiting the impact of Toyota’s sale on its shareholders, Harmonic Drive Systems confirmed that it would buy back 700,000 of its shares. This accounts for about 0.73% of its outstanding stock.

The post Toyota to Sell Entire Stake in Harmonic Drive Systems appeared first on theprimarymarket.com.

The motion of support for the resolution from the ISS comes after several climate activist bodies have already placed pressure on the automaker to transition towards all-battery electric vehicles.

Among those firms that have expressed an interest in this transition are Danish pension fund AkademikerPension, Dutch pension investor APG Asset Management, and Norway’s Storebrand Asset Management, all of whom want the Japanese automaker to commit to an annual review of its climate-change lobbying.

Toyota had urged its shareholders to vote against the proposed legislation, however, saying that the level of disclosure that is required by the resolution is unsuitable to implement in the company’s existing articles of incorporation.

The post Toyota Climate Resolution Receives Backing From ISS appeared first on theprimarymarket.com.

Quarterly sales surged almost 20% to 9.69 trillion yen ($72 billion). According to the automaker, the rise in sales was complemented by the fact that the global chip supply shortage has subsided as of late.

Global automakers were affected by the chip shortage, which was caused by work restrictions that were implemented because of the coronavirus pandemic. This led to a major halt in production.

From January through March, Toyota experienced rising sales across several global markets, including Japan, the United States, and Europe, along with several regions across Asia, the Middle East, and South America.

Toyota confirmed in a statement that it is committed to fueling further growth and expanding its ecological offerings, including hybrids, plugins, and battery electric vehicles. New company CEO Koji Sato confirmed that the company needs to expand its EV offerings in order to compete with market leaders such as Tesla and BYD.

The post Toyota Q1 Profit Rises as Chip Shortage Subsides appeared first on theprimarymarket.com.

Subaru Corp., in which Toyota has a 20 percent stake, had it even worse after being forced to recall its first EV model Solterra. Around 2,600 Solterras, a model with many similarities with bZ4X, have been taken off the market. In the immediate aftermath, Subaru’s stock lost close to five percent of its value on Friday.

Detailing the issue with bZ4X, Toyota indicated that only a handful of units were affected by the issue. The problem, fortunately, didn’t cause any accidents, and the automaker is expecting to fix it in the near future.

Toyota was a pioneer in the electric car movement with its hybrid Prius model, but the company has struggled to make a mark on the EV market so far. The major issues for the company have been the global shortage of materials, which caused production delays, as well as slow urgency to put a bigger focus on all-electric cars. The recent recalls certainly don’t help, and it will be interesting to see how Toyota (and Subaru) bounce back after it.

The post Toyota and Subaru Stocks Plunge Amid Electric Cars Recall appeared first on theprimarymarket.com.