Japan Insurers Plan to Sell $3.1 Billion Honda Shares, Reuters Reports.

Japan's top property and casualty insurers, including Tokio Marine Holdings Inc., Sompo Holdings Inc., and two units of MS&AD Insurance Group Holdings Inc., are planning to sell approximately $3.1 billion worth of shares in Honda Motor Co. Other unidentified financial institutions are also expected to reduce their stakes in Honda. This move comes as Japanese companies face pressure from the government and investors to reduce cross shareholdings. Honda has not yet given approval for the sale of its shares. [Extracted from the article]

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