GT Capital Holdings, the diversified conglomerate that holds banking (Metrobank), automotive (Toyota), and real-estate (Federal Land) is making its first offshore investment: by buying 22.2 billion yen (P 10.723 billion) in Toyota Motor Corporation stock.
A Reuters report says that the GT Capital’s stake in the Japanese automaker amounts to less than 0.1 percent, but they’re still considering it attractive because of Toyota stock’s “dividend payment and potential increase in stock price.”
This news also makes the relationship of Toyota Motor Corporation and GT Capital even stronger. It must be remembered that the Ty-led GT Capital currently holds a 51 percent stake in Toyota Motor Philippines, the country’s largest automaker. In addition, Toyota Motor Philippines is said to be GT Capital’s biggest income contributor, generating around USD 3.2 billion (P 170.7 billion pesos).
Source: Reuters
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