Tokio Marine subsidiary to tender Mitsubishi shares in buyback

Tokio Marine Holdings (TSE: 8766) announced today that its subsidiary, Tokio Marine & Nichido Fire Insurance, will tender its entire holding of Mitsubishi Corporation (MC) common shares, totaling 85,851,615 shares, in MC's announced tender offer. The tender offer price is set at JPY2,291 per share, resulting in a total sale price of JPY196,686 million. This decision aligns with Tokio Marine Holdings' previously stated policy to reduce its business-related equities to zero by the end of fiscal year 2029. The company aims to reallocate capital towards social problem-solving and other growth areas. Tokio Marine & Nichido had communicated its intention to sell its MC shares, leading to MC's proposal for the tender offer. Tokio Marine & Nichido has assessed the tender offer's terms as reasonable. If all shares are purchased, Tokio Marine Holdings anticipates recording a gain on sales of securities of JPY190 billion in its consolidated business results for the fiscal year ending March 2026. The plan for the sales of business-related equities and the consolidated business forecast for the fiscal year ending March 2026 will be announced on May 20, 2025. The tender offer period is scheduled from April 4, 2025, to May 2, 2025, with a settlement commencement date of May 28, 2025.