Ford shops Mazda shares to Japan insurers-Nikkei

DETROIT, Oct 16 (Reuters) - Ford Motor Co (F.N) has asked five Japanese insurers to buy some of its shares in Mazda Motor Co (7261.T), the Nikkei newspaper said on Thursday.

Both Ford and Mazda have declined to comment on reports that the U.S. automaker is looking to sell part of its 33.4-percent stake in Mazda.

The Nikkei reported on Wednesday that Ford had approached between 20 and 30 prospective buyers for its shares in Mazda.

In its report on Thursday, the Japanese business daily said Ford had approached five leading nonlife insurers: Tokio Marine Holdings Inc (8766.T), Mitsui Sumitomo Insurance Group Holdings Inc (8725.T), Sompo Japan Insurance Inc (8755.T), Nipponkoa Insurance Co (8754.T), Aioi Insurance Co.(8761.T)

Japanese trading companies and auto parts maker Denso Corp (6902.T) are also considering buying some of Ford's stake in Mazda, Nikkei said.

A person familiar with the matter told Reuters over the weekend that Ford was considering selling some of its $1.36 billion stake in Mazda as it struggles with weakening sales and a global credit crunch.