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Japan Capital and Governance (Page 19)

Share buybacks, offerings, activist stakes, shareholder votes and board changes at Japanese companies.

  1. Investor Group Raises SATUDORA HOLDINGS Stake to 19.19%

    A four-investor group anchored by a Wakayama trading firm has pushed its stake in the Hokkaido drugstore chain past 19%, while the same filing keeps open an option to make unspecified proposals.

  2. SMBC Registers to Sell Up to ¥1tn in Unsecured Bonds Through 2028

    Sumitomo Mitsui Banking Corporation has filed a shelf registration letting it sell up to ¥1tn in unsecured bonds in pieces over two years, with coupons and redemption terms left blank until each tranche prices.

  3. Astroscale Puts Its Directors on a Four-Year Vesting Clock for New Stock Awards

    Astroscale's board wants inside directors to earn new stock awards over four years, not one, and can claw the shares back if misconduct triggers a restated audit.

  4. Astroscale to Erase ¥7.73bn Deficit by Zeroing Out Its Capital Reserve

    Astroscale plans to cut stated capital by ¥2.13bn and drain its entire ¥5.60bn capital reserve to wipe out a ¥7.73bn accumulated deficit, an accounting shuffle that leaves shareholders' stakes and the company's net worth unchanged.

  5. KYUDEN sets October launch as new Kyushu Electric parent

    Kyushu Electric ordinary shareholders are due to receive one new share for each one they hold, while the amended statement lists a provisional registered amount of ¥503.7bn.

  6. Kubota hits ¥30bn buyback cap with one June 12 purchase

    Kubota bought 11,104,900 shares for ¥29.9999bn on June 12, taking its April buyback authorisation to 100 per cent of the cash limit even though only 74.03 per cent of the share cap was used.

  7. TV Asahi shareholders push journalism clause, female director quota and ad-program safeguards

    The move: alongside a ¥40-a-share year-end dividend, TV Asahi shareholders used the AGM to press charter changes on impartial journalism, online content correction, one-third female representation among full-time directors and protections against ad-program confusion.

  8. Resona lines up ¥70bn unsecured bond sale across three- and five-year tranches

    The move: Resona Holdings is raising ¥70bn through unsecured bonds, split between ¥40bn of three-year notes and ¥30bn of five-year debt, under a ¥400bn shelf effective until May 2028.

  9. Komatsu plans ¥50bn bond issue with ¥20bn green tranche

    The move: Komatsu disclosed a two-tranche unsecured issue, a ¥20bn three-year green bond and a ¥30bn five-year bond. The filing puts the deal under a ¥100bn shelf registered in November 2024, with no prior draws shown on the cover page.

  10. Kyushu Electric lines up 1-for-1 swap for KYUDEN Holdings debut

    The move: existing common shareholders are slated to receive one KYUDEN Holdings share for each Kyushu Electric share on October 1, with the successor seeking technical listings in Tokyo and Fukuoka and disclosing a provisional registered amount of ¥503.7bn.

  11. TEPCO board slate approved as 190 shareholders press Kashiwazaki accident fund

    The move: TEPCO’s 13-director slate was approved, but 190 shareholders used the annual meeting to press a charter amendment for a Kashiwazaki-Kariwa accident fund, revised from ¥23.4tn to ¥3.8tn and designed to be funded through customer electricity charges.

  12. Blue Goats Capital and Aoyagi raise Vector Holdings stake to 8.56%

    The joint holding rose from 6.13% to 8.56%, with Blue Goats Capital and Kazuhiro Aoyagi still describing the position as pure investment and reporting their own cash as the funding source.

  13. Mizuho lays out ¥180.5bn subordinated bond plan with callable second tranche

    The move: Mizuho's plan pairs a ¥73.5bn 10-year subordinated note with a ¥107.0bn callable 10-year tranche. The catch is in the clauses, both carry write-down-upon-insolvency and subordination terms, so the filing reads as capital management as much as funding.

  14. Kawasaki Heavy lines up share sale and transition CB for factories and hydrogen

    The move: Kawasaki Heavy will sell 37.35mn shares overseas for factory expansion and issue ¥101bn of euro-yen convertibles, including what it calls the first transition CB, for physical AI and a liquefied-hydrogen chain.

  15. Oasis takes 5.07% of Infomart, flags asset sales, board changes and delisting options

    Oasis says it has already proposed asset disposals and business shutdowns at Infomart, and may seek broader restructuring moves while considering a larger stake.

  16. Mizuho taps ¥180.5bn of subordinated debt in second draw on current shelf

    The 10-year issue is split between a ¥73.5bn tranche and a ¥107bn tranche with an early-redemption clause, leaving ¥2.81tn of unused capacity under Mizuho's current programme.

  17. Kawasaki Heavy pairs overseas share sale with 2031 and 2033 euro-yen convertibles

    Kawasaki Heavy Industries has approved an overseas common-share offering and two euro-yen convertible bond tranches for foreign markets, but the filing excerpts leave the size and pricing terms unresolved.

  18. Kawasaki Heavy plans overseas share sale and CBs to fund factory AI and hydrogen projects

    About ¥92.7bn from the new-share leg is earmarked for factory investment through March 2029, as Kawasaki ties an overseas equity and convertible-bond sale to robotics, physical AI and a subsidised hydrogen build-out.

  19. Seino outside director quits over governance split

    Takahiko Ijichi left Seino Holdings on July 1 after what the company called a major difference over corporate governance, and the filing offers little detail beyond confirming the board still meets legal headcount rules.

  20. Hankyu Hanshin has used 74.4% of its buyback budget by June-end

    The number: June repurchases of ¥13.36bn lifted Hankyu Hanshin's total to ¥22.31bn and 4,868,700 shares, equal to 74.4% of the current ¥30bn authorisation by June 30.

  21. Nippon Beet Sugar Manufacturing approves Nitten rebrand, special dividend and one-year director terms

    The move: shareholders approved an October rename to Nitten, a 160 yen year-end dividend with an 80 yen special payout, and one-year director terms as management says the business now extends beyond beet sugar into food, feed and agricultural materials.

  22. JEOL shareholders approve ¥79 dividend and board slate

    Shareholders signed off on a ¥79 per-share year-end payout and elected a seven-director board including president and CEO Izumi Oi, alongside two Audit and Supervisory Board members.

  23. AHJIKAN locks in ¥52 dividend, shifts ¥800mn to reserves after AGM

    Shareholders approved a ¥52 a share year-end payout worth ¥389.2mn and an ¥800mn reserve transfer, while confirming seven director appointments including president Naozumi Ashikaga.

  24. Obic buyback goes quiet in June, cumulative spend stays at ¥10.0bn

    Obic bought no shares in June under its ¥50.0bn repurchase plan, leaving the cumulative tally at 2,395,900 shares and ¥10.0bn with the programme still open through March 2027.