Tokyo, Japan – Tokio Marine Holdings has announced it will sell its entire 85.9 million-share stake in Mitsubishi Corporation, as part of the trading house’s $1.34 billion buyback program. The shares, held by Tokio Marine’s subsidiary Tokio Marine & Nichido, will be sold at ¥2,291 ($15.65) per share, totaling ¥196.7 billion ($1.34 billion), according to a filing with the Tokyo Stock Exchange on Friday.
The sale is expected to generate a gain of ¥190 billion ($1.30 billion) for the insurer, which it plans to realize in the fiscal year ending March 2026, assuming the buyback offer is fully accepted.
This move aligns with Tokio Marine’s broader strategy to reduce its holdings in publicly traded business-related equities, with plans to complete the divestment by fiscal 2029.
The buyback offer is open from April 4 to May 2, with the settlement date set for May 28.
Exchange Rate: $1 = ¥146.36
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