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Latest Tokyo Brief coverage on MITSUBISHI MATERIALS CORPORATION, tracking filings, financial news, and market signals from Japan.
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The metals group will collect no interest on ¥35bn of new bonds due 2030, priced above face value and sold only to investors in Europe and Asia, with a second tranche maturing in 2032 filed alongside it but not yet detailed.
Mitsubishi Materials is issuing ¥70bn of zero-coupon convertible bonds, priced above today's share price to limit dilution, to fund a shift from mined ore to recycled copper and tungsten by early 2029; a separate filing shows an offshore buyer repackaging the same bonds for credit investors.
Mitsubishi Materials' board approved roughly ¥70bn in zero-coupon convertible bonds to fund a pivot into metals recycling, but a separate buyer's plan to repackage those bonds could carry voting rights over 12.37% of the company, a threshold it says it will never actually use.