Toyota Motor Corporation has cut its stake in KDDI Corporation to 7.73%, down from 9.07%, according to an amended large shareholding report filed July 8, 2026. The reduction follows Toyota's participation in a self-tender offer that KDDI ran from May 13 to June 9, 2026.
Toyota tendered 53,763,400 of its KDDI shares into that buyback. Because the offer was allocated on a pro-rata basis, only 53,681,800 of Toyota's tendered shares were actually accepted. Those accepted shares changed hands off-market at ¥2,325 apiece, with settlement completing on July 1, 2026. At that price, the accepted block works out to roughly ¥124.8bn.
After the sale, Toyota still holds 309,684,100 KDDI shares, equal to 7.73% of KDDI's 4,007,450,967 shares outstanding, down from the 9.07% Toyota reported before the tender.
Toyota's filing describes the purpose of the remaining holding as a "policy investment" intended to maintain and develop the companies' business relationship. The filing does not say how long Toyota has held KDDI shares or spell out what the relationship covers beyond that description.
The document is amendment No. 11 to Toyota's large shareholding report on KDDI. It was triggered under Japan's disclosure rules by two events: the holding ratio dropping by more than one percentage point, and a change to what the filing calls a "significant contract" tied to the shares, meaning Toyota's participation in KDDI's tender offer. The filing lists the Tokai Local Finance Bureau as the office of record and was submitted through Japan's EDINET disclosure system.
Separately, the filing records that Toyota's funding for the KDDI shares it still holds totals ¥131.87bn, made up of ¥131.43bn in Toyota's own funds and ¥437.08mn from other sources, including shares acquired through a past merger and a 2025 stock split. That funding breakdown applies to the retained stake, not to the shares Toyota just sold.
The filing does not establish whether this sale is a one-off rebalancing or the start of a further reduction, and it does not specify KDDI's line of business beyond identifying it as a Tokyo Stock Exchange-listed company with securities code 9433.