Mitsubishi Materials Corporation's board resolved on July 8, 2026 to sell two series of euro-yen convertible bonds abroad, betting that investors in Europe and Asia, excluding the United States, will accept a zero coupon in exchange for the right to convert into the company's shares.
The nearer-dated series matures July 24, 2030, London time, with an aggregate face value of ¥35bn. The bonds carry no interest and will be sold to investors at 102.5% of face value, a premium that stands in for the missing coupon. Holders can convert the notes into Mitsubishi Materials common stock; the conversion price itself was not disclosed in the portion of the filing made public.
A second series, maturing in 2032, was authorized in the same board resolution, but the disclosed filing does not break out that tranche's issue amount or offer price separately from the 2030 notes.
Both series target investors in Europe and Asia rather than the US market. For a Tokyo-listed industrial group, raising zero-coupon debt from euro-yen buyers taps offshore liquidity without touching the domestic bond market or paying a yen coupon, provided the share price holds up enough to make conversion worthwhile.
The document is an amended extraordinary report, filed with the Kanto Local Finance Bureau on July 8, 2026, correcting an earlier version of the same disclosure over an inline XBRL attachment. The bond terms match the original announcement; only the filing's technical formatting changed.