Toyota Motor TSE:7203 and Daimler Truck XETR:DTG will reduce their stakes in truckmaker Archion TSE:543A this month, selling shares worth 200 billion to 300 billion yen ($1.24 billion to $1.87 billion), the Nikkei daily business reported on Friday.
Toyota and Daimler will offer approximately 900 million shares, or about 30% of the total outstanding shares, through a public offering to meet Archion's listing requirements, the Nikkei reported, without disclosing sources.
In a statement, Archion said it was considering various capital policy options, including a possible share sale, but that nothing had been decided. Toyota was not immediately able to comment.
Nikkei said Archion was set to make an announcement on share sales as early as next week.
($1 = 160.7800 yen)