Toyota Motor Corp. President Hiroshi Okuda reiterated Wednesday that his firm will take workers’ job security and international relations into consideration along with bid prices in deciding what offer to accept for its shares in International Digital Communications Inc.
On Tuesday, Britain’s Cable & Wireless PLC again raised its takeover bid for IDC to 110,577 yen per share, up 3,205 yen from the previous offer.
It was reacting to a new bid Nippon Telegraph and Telephone Corp. made the day before.
Okuda denied a newspaper report earlier in the day that quoted an anonymous Toyota executive as saying the firm will base its decision solely on the bid price.
“The gap in the price offered by the two is not so wide now,” Okuda said, adding that Toyota has yet to reach a decision.
Among IDC’s 141 corporate shareholders, Toyota, C&W and Itochu Corp. each has a 17.7 percent stake, while AirTouch International of United States owns 10 percent.
C&W has extended the deadline of its offer from Saturday to June 15.
Okuda said he does not expect any IDC shareholder to make a decision before the new deadline.
Okuda made the remarks during and after a regular press conference held by the Japan Federation of Employers’ Associations (Nikkeiren) in Tokyo.
Okuda, who became Nikkeiren chairman last month, has stressed the importance that Japanese-style corporate management places on job security.