Major Japanese insurers said ready to offload $3.1b of Honda shares

Major Japanese insurers said ready to offload $3.1b of Honda shares

FILE PHOTO: The Honda Motor logo is pictured at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha

Four of Japan’s top property and casualty insurers and other financial firms plan to sell around 500 billion yen ($3.1 billion) of shares in Honda Motor, three people said, as the unwinding of cross-shareholding practices accelerates.