Japan’s MUFG, SMFG to sell more than $8.5 billion of Toyota shares, Bloomberg reports

TOKYO (Reuters) – Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group are considering selling 1.32 trillion yen ($8.5 billion) worth of strategic shareholdings in Toyota Motor, Bloomberg News reported on Friday, citing sources.

The two Japanese megabanks seek to sell into Toyota’s share buybacks, Bloomberg said, citing people with knowledge of the matter.

($1 = 155.8100 yen)

(This story has been refiled to add a dropped word in the headline)

(Reporting by Kantaro Komiya; Editing by Chang-Ran Kim)