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TYO:8439

10 stories mentioning TYO:8439Updated 8d ago

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Asia

Tokyo Century to Raise 12 Billion Yen Through Bond-Type Class Share Issuance

Tokyo Century (TYO:8439) has resolved to issue 1st through 3rd Series Bond-Type Class Shares via third-party allotment, raising a total of 12 billion yen.Of the total, 10 billion yen will be raised from Itochu (TYO:8001) and 2 billion yen from The Norinchukin Bank with payment scheduled for Sept. 18.The non-voting shares carry a preferred dividend of 3.800% per annum through fiscal 2032, stepping up to the 1-year JGB yield plus 1.8% thereafter, and feature call options exercisable after five or more years, according to a Tokyo bourse filing on Monday.Proceeds of about 11.9 billion yen will be allocated to grid-scale storage battery facilities as part of Tokyo Century's growth investments plan exceeding 2 trillion yen.Simultaneously, the company will reduce capital stock and capital reserve by 6 billion yen each, transferring the amounts to other capital surplus, with no dilution impact on common shareholders as the shares lack conversion rights.

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Asia

Itochu to Acquire 50% Stake in TC Skyward Aviation

Itochu (TYO:8001) has resolved to acquire a 50% equity interest in TC Skyward Aviation from Tokyo Century (TYO:8439) for $1.95 billion, making the aircraft leasing platform a jointly managed venture.The transaction will give Itochu shared control over Aviation Capital Group (ACG), a U.S.-based aircraft lessor with over $13.7 billion in total assets, according to a Tokyo bourse filing on Monday.In conjunction with the stake acquisition, Itochu will subscribe to 40 million bond-type class shares issued by Tokyo Century for 10 billion yen to strengthen Tokyo Century's financial base.The deal, expected to close by November, is classified as a related-party transaction but will be conducted on fair terms with independent oversight.The financial impact has already been reflected in Itochu's profit forecast of 950 billion yen for the fiscal year ending March 2027.

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Asia

Tokyo Century's Profit Climbs 59% in Fiscal Q1

Tokyo Century (TYO:8439) recorded a 59% rise in attributable net income in the first fiscal quarter to 35.1 billion yen from 22.1 billion yen a year prior.Earnings per share increased to 71.66 yen from 45.06 yen, according to a Monday Tokyo bourse filing.The Japanese financial services company's revenue jumped 12% to 388.4 billion yen from 347.6 billion yen in the year-ago period.The company expects an attributable net income of 123 billion yen, basic EPS of 251.66 yen, and a total dividend of 90 yen per share for the fiscal year ending March 31, 2027.

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Asia

Tokyo Century Denies Nikkei Report on Itochu Stake in Aviation Capital

Tokyo Century (TYO:8439) said that a Nikkei report stating that it and Itochu (TYO:8001) will each hold a 50% stake in Aviation Capital Group was not based on a company announcement, according to a Monday release.The Japanese financial services company said that Aviation Capital remains its wholly owned subsidiary and added that the matter will be discussed at its board meeting the same day.

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Asia

Itochu Confirms Talks to Invest in Tokyo Century's Aviation Capital Group

Itochu (TYO:8001) confirms it is considering an investment in Aviation Capital Group, a US subsidiary of Tokyo Century (TYO:8439), though no final decisions have been made.The trading house acknowledged a recent Nikkei report regarding the potential transaction, noting that the matter is slated for discussion at its board meeting Monday, according to a Tokyo Stock Exchange filing the same day.Itochu's shares fell nearly 3%, while Tokyo Century dropped more than 4% in recent trade on Monday.

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Asia

Update: Market Chatter: Itochu Said to Buy 50% Stake in Tokyo Century's Aviation Capital Group

(Updates last paragraph to add statement from Itochu)Itochu (TYO:8001) and Tokyo Century (TYO:8439) are believed to be in talks for equal ownership of US aircraft lessor Aviation Capital Group, Nikkei Asia reported Friday.Specifically, Tokyo Century is reportedly planning to sell a 50% stake in Aviation Capital, which it wholly owns since 2019, to the Japanese trading house for a 300 billion-yen investment.Itochu toldthat it has not made any decisions yet, while Aviation Capital Group and Tokyo Century did not immediately respond to requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Itochu Said to Buy 50% Stake in Tokyo Century's Aviation Capital Group

Itochu (TYO:8001) and Tokyo Century (TYO:8439) are believed to be in talks for equal ownership of US aircraft lessor Aviation Capital Group, Nikkei Asia reported Friday.Specifically, Tokyo Century is reportedly planning to sell a 50% stake in Aviation Capital, which it wholly owns since 2019, to the Japanese trading house for a 300 billion-yen investment.Itochu, Aviation Capital Group and Tokyo Century did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Tokyo Century's ACG Unit Signs $1.48 Billion Term Loan with Financial Covenants

Tokyo Century (TYO:8439) has arranged a $1.48 billion term loan facility through its Irish SPC, ACG Aircraft Financing Ireland DAC, with DBS Bank leading a syndicate of 33 lenders.The five-year unsecured facility will fund general corporate purposes, including aircraft acquisitions and debt refinancing, according to a Tokyo bourse filing on Friday.The loan carries financial covenants applied to ACG's consolidated figures, requiring an interest coverage ratio above 1.50 times, net assets of at least $1.5 billion, and unencumbered assets at 125% or more of unsecured liabilities.The agreement was executed on July 2 and matures five years from that date.

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Asia

OUE-Tokyo Century JV to Acquire Crowne Plaza Changi Airport in SG$500 Million Deal

Real estate and healthcare firm OUE (SGX:LJ3) and finance services provider Tokyo Century (TYO:8439) established a joint venture to acquire the Crowne Plaza Changi Airport from OUE Real Estate Investment Trust (SGX:TS0U) for SG$500 million, Tokyo Century said in a Wednesday release.Crowne Plaza Changi Airport is a 575-room hotel managed by IHG Hotels & Resorts, situated at Singapore Changi Airport's Terminal 3. The property comprises a 332-room main building and a 243-room extension, with direct connectivity to all airport terminals.The deal reflects OUE's and Tokyo Century's confidence in Singapore's tourism and aviation sectors, as well as the long-term growth prospects of Changi Airport, which comprises the planned Terminal 5 expansion, according to the release.Shares of OUE fell nearly 2% in recent trade, while those of OUE Real Estate Investment Trust added over 1%. In Tokyo, shares of Tokyo Century edged up nearly 1%.

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Asia

Tokyo Century's Full-Year Net Income Jumps 31%

Tokyo Century's (TYO:8439) net income attributable to owners of the parent surged 31% to 111.3 billion yen for the fiscal year ended March 31 from 85.3 billion yen a year earlier.The finance service company's earnings per share increased to 227.06 yen from 173.77 yen a year ago, according to a Tokyo bourse filing on Monday.Revenues climbed 6.5% to 1.458 trillion yen from 1.369 trillion yen in the prior year.In a separate disclosure, Tokyo Century raised its final dividend to 44 yen per share, from 36 yen per share, payable from June 26.For the fiscal year ending March 31, 2027, the company expects attributable profit of 123 billion yen, and basic EPS of 251.66 yen.Tokyo Century plans to pay interim and year-end dividends of 45.00 yen per share, each, for the year, which is higher than the amount paid in the year-ago period.

TYO:8439

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