Sumitomo Mitsui (SMFG) has released an update.
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Sumitomo Mitsui Financial Group, Inc. has announced its decision to tender a portion of its Toyota Motor Corporation shares, with a tender offer price of 2,781 yen per share, amounting to a total expected sale of 135 billion yen. The move is part of SMBC Group’s strategy to reallocate its business portfolio and improve capital efficiency. Despite the sale, both companies anticipate maintaining a strong relationship, with continued collaboration to enhance corporate value and support initiatives contributing to Japan’s growth.
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