Hiroshi Okuda, president of Toyota Motor Corp., said Monday that a higher bid would not be the only element it will consider in a sale of its stake in International Digital Communications Inc.
Okuda said Toyota will make a decision on the issue from “more comprehensive points of view,” saying it will also study such factors as job security for IDC workers and bilateral relations with Britain.
Okuda was responding to a new bid launched Friday by Cable and Wireless PLC of Britain to take full control of the Japanese carrier through a 107,372 yen per-share offer.
Nippon Telegraph and Telephone Corp. and C&W are fighting to take over IDC.
Toyota, C&W and Itochu Corp. are IDC’s three largest shareholders, each with 17.7 percent stakes.
On the matter of Hino Motors Ltd., Okuda said that Toyota is not planning to increase its stake in the firm from some 20 percent before the end of fiscal 1999.
Toyota will make a final decision after examining Hino’s efforts to restructure its ailing operations and improve its earnings, he said.