Tokyo Century Corporation
Notice of Basic Agreement Signing Relating to the Transfer of an Interest in a Consolidated Subsidiary to an Equity-method Affiliate and Recording of Extraordinary Profit
Transfer of 50% of SKY-U to Itochu Corporation; SKY-U and ACG to become equity-method affiliates. Expectation of extraordinary profit of about 50 billion yen (consolidated) / about 70 billion yen (non-consolidated); timing and amount subject to final contract and antitrust approvals.
Key Figures
- Transferred shares: 3,281 shares (after transfer 50%)
- Transferred value: 1,946 million USD (planned)
- Special profit outlook: Consolidated about 500 hundred million yen, net income attributable to parent company for the period about 300 hundred million yen, and non-consolidated about 700 hundred million yen
- Shareholder structure of TC Skyward Aviation U.S., Inc.: Tokyo Century 100%, ACG 100% as a specified subsidiary of SKY-U
- ACG's consolidated financial position (last 3 years) total assets: 4,483→4,512→4,540 million USD, etc.
AI要約
Background and Transaction Overview
Toward the mid-term management plan 2030, Tokyo Century is pursuing a portfolio reform focused on capital efficiency and growth. A basic agreement has been signed to transfer 50% of the issued shares of consolidated subsidiary SKY-U to Itochu Corporation. After the transfer, SKY-U will maintain a 50% equity stake and will collaborate with ACG as an equity-method affiliate.
Purpose of the transfer and collaboration details
Aiming to expand ACG’s asset scale through collaboration with Itochu Corporation, the plan includes expanding the new aircraft leasing business, strengthening procurement and sales, improving financing capabilities, jointly considering acquisition opportunities, and creating revenue opportunities across the aircraft value chain. After the transfer, the 50% stake in ACG will be retained, pursuing a higher position.
Tokyo Century Corporation
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