JTOWER Inc. (TSE:4485) entered into the master transaction agreement to acquire 1,552 Telecommunication Towers of NTT DOCOMO, INC for ¥17 billion on September 26, 2023. The towers generated annual revenues of ¥1.4 billion. The transaction has been funded through borrowings and self-financing.

For the borrowings, JTOWER has received an intention from Mizuho Bank, Ltd. to provide a certain amount of loans. In addition, JTOWER has received intentions from the investors for the preferred equity investments. The remaining amount other than the above will be covered using own funds.

The transfer of assets will gradually start from Q4 FY03/2024 onwards and complete within FY03/2025. Mitsubishi UFJ Morgan Stanley Securities acted as financial advisor to JTOWER.