Toyota Tsusho Corp., a trading house affiliated with Toyota Motor Corp., will accept a request to take a stake of more than 10 percent in the embattled trading house Tomen Corp., sources close to Toyota Tsusho said Friday.
Tomen has asked Toyota Tsusho to purchase new shares worth 7.5 billion yen, giving Toyota Tsusho an equity stake bigger than that of Tokai Bank, Tomen's largest shareholder. It remains unclear exactly how much of a stake Toyota Tsusho will be given, the sources said.
Toyota Tsusho will formally announce the decision pending approval by its board at a meeting to be held after the weekend, the sources said.