AZ-COM Maruwa Holdings (TYO:9090) plans to repurchase and cancel all outstanding Euro-Yen Convertible Bonds due 2025, according to its Tokyo bourse filing on Thursday.
The bonds, originally issued in December 2020 with attached stock acquisition rights, carry a maximum principal value of 20 billion yen..
Mizuho Securities Co. and its subsidiary Mizuho International will facilitate this transaction by acquiring the bonds before transferring them to AZ-COM Maruwa for cancellation.
The transfer is scheduled for Sept. 25, supporting the company's capital structure management objectives.
Both Mizuho entities have explicitly stated they will not exercise the bonds' attached stock acquisition rights or voting rights, the filing read.
This transaction may result in Mizuho temporarily holding 5% or more of voting rights, potentially constituting "buying up" under Japanese financial regulations.
While the full 20 billion yen repurchase is targeted, the final acquisition amount remains undetermined.
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