Source disclosure: February 26, 2026, 12:30 JST
Mizuho Leasing Company,Limited [8425.T]
TOKYO, Feb 26 (Pulse News Wire) -- Mizuho Leasing Company, Limited (8425.T), led by President Akira Nakamura, announced today that its board of directors has approved a capital business alliance agreement ("AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT") and subscription rights agreement ("PURCHASE Agreement") with Star Asia Group LLC. The agreements aim to acquire a 25% stake in Star Asia, which will make it an equity-method affiliate company of Mizuho Leasing. Additionally, Mizuho's wholly-owned subsidiary, Emel Estate Co., Ltd., will subscribe to a third-party allotment share issuance by Ho-oh SPV LLC, allowing it to indirectly hold all shares in Star Asia after the completion of the allotment.
Mizuho Leasing aims to transform itself from a leasing company into a platform company that addresses societal issues such as decarbonization while creating a shared future with customers. This strategic move is part of its 'Mid-term Business Plan 2025' targeting significant growth between fiscal years 2023 and 2025 through strengthening both its business and management foundations. Star Asia Group, founded in 2006, operates multiple private funds and listed real estate investment trusts (REITs) in Japan, investing broadly across real estate-related bonds, securitized products, trust beneficiary rights, physical properties, and operating companies. It has established long-term partnerships with global investors including major U.S. university endowments, pension funds, and government-backed funds.
The partnership between Mizuho Leasing and Star Asia Group was built on previous collaborations involving financing and bridging functions provided by Mizuho Leasing to Star Asia’s funds. Both parties agreed that enhancing these efforts and establishing a stable capital relationship would benefit their respective business expansions and corporate value enhancement. Following the successful execution of this capital alliance, Mizuho plans to appoint one director to Star Asia to ensure smooth implementation.
Under the terms of the capital alliance, Mizuho Leasing intends to leverage Star Asia's expertise in real estate investment operations to support its own expansion goals. Specifically, the alliance will focus on providing bridge finance and mezzanine finance to Star Asia, collaborating on investment projects, jointly developing operational businesses, and exploring opportunities in fund and REIT operations. Furthermore, the two groups plan to facilitate knowledge sharing and talent exchange to accelerate strategic synergies.
Key details of the transaction include Mizuho subscribing to Class B Units of Star Asia via Ho-oh SPV LLC, resulting in a 25% ownership stake (with a voting right ratio of 24.9%). The total investment amount for this transaction is ¥300 billion. Prior to the deal, Mizuho had no stake in Star Asia; post-deal, it will hold a 25% stake. The subscription agreement is expected to be finalized on March 25, 2026, along with the capital business alliance contract.
Regarding the impact on Mizuho Leasing's consolidated performance for the fiscal year ending March 2026, the company anticipates minimal effects.
AI-translated content. 🟡 Confidence: Standard See terms • Original filing