Nintendo Plans Around $1.9 Billion Share Sale by Kyoto Bank And Others, Sources Say

Nintendo is planning to reduce its strategic cross-shareholdings, which could lead to banks like MUFG Bank and Bank of Kyoto selling about 300 billion yen ($1.9 billion) worth of its shares. The company may also announce a share buyback soon. This move follows pressure from regulators and the Tokyo Stock Exchange to reduce cross shareholding practices, where companies hold shares in each other to strengthen business ties. Similar steps are being considered by other major firms, including Toyota.