TOWA PHARMACEUTICAL CO.,LTD. [4553.T]
TOKYO, May 21 (Pulse News Wire) – Towa Pharmaceutical CO.,LTD. (4553.T) resolved at its board meeting held on May 21 to issue up to ¥148.9 billion worth of preferred shares through a third-party allocation to Japan Policy Investment Bank (DBJ).
The funds raised will be used for enhancing manufacturing lines and strategic investments aimed at ensuring stable supply of pharmaceutical products. The issuance includes two tranches: the first tranche totaling ¥74.45 billion will close on June 24, while the second tranche's size and closing date will depend on future needs. Both tranches come without voting rights and carry preferential dividend rates. The proceeds will support capital expenditures from August 2026 to March 2028.
Additionally, the company plans to reduce its capital by the amount received from the first tranche’s subscription payment, effective upon closure. The reduction requires approval at the upcoming annual shareholders' meeting scheduled for July 31. DBJ, which holds a significant stake in the transaction, agreed to invest based on its understanding of Towa Pharmaceutical's business environment and growth strategy. The investment aligns with DBJ’s mission to strengthen supply chains and infrastructure through its Special Investment Program.
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