Source disclosure: January 07, 2026
Mizuho Leasing Company,Limited [8425.T]
TOKYO, Jan 7 (Reuters) - Mizuho Leasing Co., Ltd., represented by President Akira Nakamura and listed on the Tokyo Stock Exchange Prime Market under code number 8425, announced today that its wholly-owned subsidiary Mizuho Power Corporation has decided to adjust the terms of an open tender offer initiated on November 7, 2025, for Japan Infrastructure Fund Investment Corporation investment units (stock code: 9287).
The revised terms include lowering the minimum purchase quantity from 292,814 units (representing 66.67%) to 263,532 units (representing 60.00%), increasing the bid price from 65,000 yen per unit to 67,000 yen per unit, and extending the bidding period until January 22, 2026, for a total of 48 business days. The company stated that no further changes to these conditions, including another extension of the bidding period, are anticipated.
Mizuho Leasing began this public tender offer on November 7, 2025, aiming to acquire all investment units of Japan Infrastructure Fund Investment Corporation through MM Power General Partnership, which is fully owned by Mizuho Power Corporation. This move seeks to consolidate the target entity as a wholly-owned subsidiary. The initial purpose was to ensure that the bidder would hold more than two-thirds of the voting rights required under the Investment Trust Law Article 81-2 for any subsequent merger process if not all units were acquired during the tender offer.
Following the adjustments, Mizuho Leasing also confirmed agreements reached with Marubeni Corporation, Mizuho Bank, and Mizuho Trust & Banking Co., Ltd., to transfer shares of Japan Infrastructure Advisors Co., Ltd. (JIA). These transfers will see Mizuho Leasing acquiring 39 percent of Marubeni's holdings, along with five percent each from Mizuho Bank and Mizuho Trust & Banking, totaling 49 percent of JIA shares. The transfer is scheduled to take place concurrently with the settlement date on January 15, 2026.
Japan Infrastructure Fund Investment Corporation had previously expressed support for the tender offer, recommending shareholders participate. Following the announcement of the adjusted terms, the corporation reaffirmed its recommendation, maintaining its stance based on the original rationale provided in their press release dated November 6, 2025. Details of the decision-making processes within the corporation can be found in their respective press releases and supplementary documents detailing measures to ensure fairness and avoid conflicts of interest in the tender offer process.
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