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The five companies are Tokio Marine Holdings Inc., Mitsui Sumitomo Insurance Group Holdings Inc., Sompo Japan Insurance Inc., Aioi Insurance Co. and Nipponkoa Insurance Co.
The five, which have already formed business relations with Mazda and Mazda-affiliated auto dealers in automobile insurance business, are apparently aiming to strengthen their ties with the Mazda group by purchasing its shares.
The share-purchase cost for each of the five insurers is estimated at about 4 billion yen based on Thursday's closing price of Mazda stock on the Tokyo Stock Exchange.
Other sources said earlier Thursday Denso Corp. is considering taking a stake of less than 1 percent in Mazda by purchasing shares offered by Ford.
If the major auto parts maker affiliated with Toyota Motor Corp.
takes Mazda shares off Ford's hands, the deal will in effect mean that the Toyota group will extend help to the beleaguered U.S.
automaker.
Ford owns a 33.4 percent equity stake in Mazda and aims to reduce it to about 13 percent so as to turn its battered business around.
The U.S. automaker is said to be asking some 30 firms to buy its Mazda shareholdings.
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