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Toyota's stock split aims to reel in small investors

Leading automaker touches record high ahead of 5-for-1 split

Toyota Motor looks to improve its reputation as hard-to-access stock for retail investors.    © Reuters

NAGOYA, Japan -- Toyota Motor is embarking on its first stock split in three decades in an apparent bid to drive up the number of loyal retail investors among its rank of shareholders.

During Monday's trading in Tokyo, Toyota hit a new record high of 10,350 yen, rising 2% from the previous close. The stock had been weighted down by production cuts from the coronavirus epidemic in Southeast Asia.

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