Tokyo Century Corporation
Notice Regarding the Issuance of Bond-type Convertible Preferred Stock Through Third-Party Allotment and Reduction of Capital and Capital Reserve
Issuance of bond-type convertible preferred stock through third-party allotment totaling 12,000,000,000 yen, with total funds of 12 billion yen expected. Allottees are Itochu Corporation and Norin Chuo Kinko. Capital and capital reserve to be reduced by 6 billion yen each and reclassified to other capital surplus. Funds to be used for grid-scale storage battery equipment investments, etc. Issued shares total 56,000,000, with changes in shareholder composition but no voting rights attached.
Key Figures
- Total amount of bond-type convertible preferred stock from third-party allotment: 12,000,000,000 yen
- Total payment amount: 12,000,000,000 円
- Decrease in capital amount: 60 億円
- Decrease in capital reserve amount: 60 億円
- Payment date: 2026 年9 月18 日
- Allottees: Itochu Corporation and Norinchukin Bank
- Investment funds for grid-scale storage battery equipment: 119 億円
- Planned expenditure period: 2026年10月～2027年3月
AI要約
Overview
Tokyo Century, looking ahead to its consolidated group's long-term plan 2030, will actively pursue capital policy by issuing bond-type convertible preferred stock. Allottees are Itochu Corporation and Norinchukin Bank, with an estimated total funding of 12,000 million yen. The payment amount per share is 250 yen, and the total issued shares are 8,000,000 (First Issuance), 20,000,000 (Second Issuance), and 20,000,000 (Third Issuance), totaling 48,000,000 shares. The increases in capital and capital reserve of 6 billion yen each will be reduced and reclassified.
Financial impact and outlook
Proceeds will be allocated to grid-scale storage battery equipment investments, with planned expenditures from October 2026 to March 2027. The policy aims to balance financial soundness and liquidity while accelerating growth investment. The allottees are expected to maintain a long-term investment relationship. The fiscal year ending 2026 serves as the backdrop for executing the mid-term plan, and a highly equity-like funding approach is used to strengthen the financial base.
Tokyo Century Corporation
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