By Kosaku NariokaToyota Motor plans to buy back shares worth more than $5 billion held by Japanese banks and insurers. The Japanese automaker said Tuesday that it would start a tender offer to repurchase shares worth Y806.8 billion ($5.14 billion) at Y2,781 apiece. Toyota said it planned to buy 290.1 million shares from Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, MS&AD Insurance Group Holdings and Tokio Marine Holdings. Write to Kosaku Narioka at kosaku.narioka@wsj.com(END) Dow Jones NewswiresJuly 23, 2024 03:38 ET (07:38 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal July 23, 2024 19:43 UTC