Kyocera Plans to Sell Down KDDI Stake to Shore Up Its Finances
Bloomberg
30 Oct 2024
(Bloomberg) -- Kyocera Corp. said it plans to sell down about one-third of its stake in Japan’s No. 2 telecom operator KDDI Corp. over the next five years.
The Kyoto-based maker of telecom equipment and semiconductor materials holds 15.3% of KDDI, according to data compiled by Bloomberg. Kyocera plans to use the proceeds of the sale to bolster its finances and may also use KDDI shares as collateral to take out loans, it said in a statement.
Kyocera on Wednesday slashed its annual operating income forecast, citing weakness in its semiconductor components business.
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