Mizuho Bank, Ltd. entered into share transfer agreements to acquire an additional 5.4% stake in IBJ Leasing Company, Limited from existing shareholders.
February 25, 2019
Share
Mizuho Bank, Ltd. entered into share transfer agreements to acquire an additional 5.4% stake in IBJ Leasing Company, Limited (TSE:8425) from existing shareholders on February 26, 2019. Under the terms of transaction, Mizuho Bank, Ltd. will acquire 2.65 million shares in IBJ Leasing Company, Limited. In a related transaction, Mizuho Bank, Ltd. will acquire entire shares of common stock of IBJ Leasing Company, Limited to be issued by IBJ Leasing Company, Limited through a capital increase by third-party allotment. Upon completion of the transaction and capital increase, Mizuho Financial Group, Inc., parent of Mizuho Bank, Ltd., its group as a whole, shall hold 22.2% of the shares of common stock of enlarged share capital of IBJ Leasing Company, Limited and before the transaction, Mizuho Bank, Ltd. held 3.81% stake in IBJ Leasing Company, Limited. IBJ Leasing Company, Limited planned to change its trade name to Mizuho Leasing on the premise of approval at the 50th ordinary general meeting of shareholders scheduled to be held in June 2019.
In addition, IBJ Leasing planned to make one person nominated by Mizuho Financial Group a candidate for an outside director of IBJ Leasing on the premise of undergoing necessary internal selection procedure. The implementation of the share transfers are subject to obtaining permissions and approvals from the relevant competition authorities. The transaction was resolved by the Board of Directors of Mizuho Bank, Ltd. on February 26, 2019 and is expected to be completed by March 29, 2019.
Mizuho Leasing Company, Limited, formerly IBJ Leasing Company, Limited, is mainly engaged in lease, installment sales and various financial transactions for industrial machinery, transportation equipment, information-related equipment. The Company operates in three business segments. The Leasing and Installment segment is engaged in the installment sales business of leasing operations (including expiration of lease transactions and property sales due to halfway cancellation) and production facilities, construction earthmoving machines, commercial facilities etc. for industrial machine tools, transportation equipment, information related equipment. The Finance segment is involved in corporate finance, ship financing, factoring business and investment business of securities owned to earn profits for business purpose. The Others segment is engaged in used property buying and selling, solar power selling business.
Mizuho Bank, Ltd. entered into share transfer agreements to acquire an additional 5.4% stake in IBJ Leasing Company, Limited from existing shareholders.
MIZUHO LEASING COMPANY, LIMITED 
