Chiba Kogyo Bank has turned a broad preferred-share cleanup plan into a very specific first move: it will buy back all outstanding Second Series Seventh preferred shares on August 17 for up to ¥2.38bn. The bank said this class should go first because it has the largest number of shareholders among its preferred issues, making it the most effective place to start as it prepares for a joint share transfer with Chiba Bank that is intended to create Chiba Financial Group as the full parent of both banks on April 1, 2027, subject to shareholder approval and regulatory authorisations.
| Feature | Detail |
|---|---|
| Target security | Second Series Seventh preferred shares |
| Maximum shares | 4,723 shares, the full issue excluding treasury stock |
| Price per share | ¥503,427.40 |
| Maximum total consideration | ¥2.38bn |
| Method | Paid acquisition by agreement with holders after notice or public announcement to all holders |
| Acquisition date | August 17, 2026 |
| Earlier buyback window announced on March 25 | July 1, 2026 to January 31, 2027 |
| Planned holding-company date | April 1, 2027, subject to approvals and authorisations |
Tuesday's board resolution sets the mechanics. Chiba Kogyo plans to acquire up to 4,723 shares, or all issued Second Series Seventh preferred shares excluding treasury stock, for cash through a paid acquisition agreed with holders after notice or public announcement to all holders. The price is fixed at ¥503,427.40 a share, which the filing says is the ¥500,000 paid-in amount plus ¥3,427.40 in accrued preferred year-end dividend from April 1 through the acquisition date.
That makes this more than a filing-room technicality. On March 25, the bank had already said it intended to buy back its Second Series, Second Series Sixth and Second Series Seventh preferred shares between July 1, 2026 and January 31, 2027. What it had not done was pin down which class would move first, or on what date. The new resolution answers both questions, and in doing so shows how the bank wants to simplify its capital structure before the planned holding-company setup takes effect.
The filing also spells out the capital-policy logic, and the caveat. After the planned share transfer, Chiba Kogyo Bank and Chiba Bank expect to consider capital support through the new holding company, including capital increases or other methods. Chiba Kogyo says it will work to secure the capital level it assumes is needed to run the bank appropriately, above 8%, but it does not say those support measures are settled yet. In other words, the sequencing is now clear, but the wider reorganisation still depends on approvals and later decisions on how support will actually be delivered.