Insurers To Sell $3.1B In Honda Shares In Wake Of Governance Push: Report
Insurers To Sell $3.1B In Honda Shares In Wake Of Governance Push: Report
Four major Japanese property and casualty insurers are reportedly preparing to sell approximately 500 billion yen ($3.1 billion) worth of shares in Honda Motor Co. Ltd. (NYSE:HMC), signaling an accelerated trend of unwinding cross-shareholding practices.
据报道，四家日本主要财产和意外保险公司正准备以约5000亿元日元（31亿美元）的价格出售本田汽车股份，这标志着撤消交叉持股惯例的加速趋势。
Tokio Marine Holdings, Sompo Holdings, and two units of MS&AD Insurance Group Holdings will collectively sell their stakes in Honda, reported Reuters.
东京海上控股、梦洲控股和三菱日本海上火灾保险集团的两个单位将共同出售其在本田的股份，据路透社报道。
Additional financial institutions are also expected to reduce their Honda holdings, bringing the total sale to around 500 billion yen, the report added.
其他金融机构也有望减持本田股份，总销售额约为5,000亿日元，报告还说。
Honda is poised to formally authorize the insurers to proceed with the sale. The automaker has already committed to repurchasing up to 300 billion yen of its shares within the current fiscal year to mitigate the impact of the insurers' sell-off.
本田将会正式授权这些保险公司继续出售，在本财政年度内已经承诺回购多达3000亿日元的股票，以减轻保险公司抛售的影响。
The insurers, including MS&AD units Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance, have previously pledged to eliminate all cross-shareholding arrangements.
包括三菱日本海上火灾保险的三井住友保险和Aioi日本大和保险在内的保险公司之前已承诺要消除所有的交叉持股安排。
As of March, Honda was among the top five companies involved in cross-shareholding with these insurers, except for Aioi Nissay Dowa Insurance.
截至3月，除Aioi日本大和保险外，本田是这些保险公司中涉及交叉持股的前五个公司之一。
The planned sale underscores a broader trend in Japan to unwind cross-shareholding practices, which have been criticized for fostering poor corporate governance by shielding management from shareholder scrutiny.
计划中的出售凸显出日本纾解交叉持股惯例的一种更广泛趋势，这被批评为通过保护管理层不受股东审查来培育糟糕的企业治理。
Collectively, the four insurers held over 300 billion yen in Honda shares as of March, with Tokio Marine holding 161 billion yen, Sompo Japan holding 81 billion, Mitsui Sumitomo holding 73 billion, and Aioi Nissay holding 2.8 billion, according to securities filings, which the report noted.
据证券文件指出，截至3月，这四家保险公司共持有超过3000亿日元的本田股份，其中东京海上控股持有1610亿日元，梦洲日本持有810亿日元，三菱日本海上控股持有730亿日元，Aioi住友控股持有28亿日元，报告指出。
These insurers collectively held around 9 trillion yen in cross-shareholdings, with other significant holdings in companies such as Toyota Motor Corp. (NYSE:TM), Shin-Etsu Chemical Co. Ltd., and Itochu Corp.
这些保险公司在交叉持股中集体持有约9万亿日元的股份，还在丰田汽车公司（纽交所：TM）、信越化学工业株式会社和伊藤忠商事等公司拥有重要的持股。
In December, Japan's Financial Services Agency issued a business improvement order to the four insurers after discovering they had colluded to fix corporate insurance fees.
去年12月，日本金融服务机构在发现这四家保险公司勾结固定企业保险费后曾发布业务改进命令。
The regulator mandated the reduction of cross-shareholdings, further pressing the insurers to unwind these financial entanglements.
监管机构要求减少交叉持股，进一步促使保险公司解除这些金融纠缠。
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