Financial Wire

Toyota Industries to Cancel 25.4 Million Treasury Shares

-- Toyota Industries (TYO:6201) said it will cancel 25.4 million treasury shares, equivalent to 7.8% of its issued shares, subject to shareholder approval of a planned share consolidation, according to a Friday filing on the Tokyo Stock Exchange.

The company said the cancellation, scheduled for June 2, will retire all treasury shares held as of March 31.

Toyota Industries said the move is contingent on approval of a share consolidation proposal at an extraordinary shareholders meeting set for May 12.

Following the cancellation, the total number of issued shares will be 300.5 million, the company said.

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