Japan’s MUFG, SMFG to sell more than $8.5 billion of Toyota shares, Bloomberg reports By Reuters

(Refiles to add dropped word in headline)

TOKYO (Reuters) -Mitsubishi UFJ Financial Group and Sumitomo Mitsui (NYSE:) Financial Group are considering selling 1.32 trillion yen ($8.5 billion) worth of strategic shareholdings in Toyota Motor (NYSE:), Bloomberg News reported on Friday, citing sources.

The two Japanese megabanks seek to sell into Toyota’s share buybacks, Bloomberg said, citing people with knowledge of the matter.

($1 = 155.8100 yen)