Tokio Marine sells Mitsubishi stake in $1.34b buyback

The shares will be sold at $15.65 each.

Tokio Marine Holdings will tender all 85.9 million shares of Mitsubishi Corp held by its subsidiary, Tokio Marine & Nichido, in the trading house’s buyback offer. 

The shares will be sold at $15.65 (¥2,291) each, amounting to $1.34b (¥196.7b), according to a filing on the Tokyo Stock Exchange on Friday.

The insurer expects to record a gain of $1.30b (¥190b) in the fiscal year ending March 2026 if the entire stake is accepted. 

The transaction is part of Tokio Marine’s plan to divest from listed business-related equities by fiscal 2029.

The offer period runs from 4 April to 2 May, with the settlement scheduled for 28 May.

($1.00 = ¥146.36)