Tokyo Century to book windfall gain from aviation claims

Tokyo Century Corporation (TSE:8439) announced it expects to record extraordinary income in its fiscal year ending March 31, 2026, following insurance claim settlements by its consolidated subsidiary, Aviation Capital Group LLC (ACG). ACG, headquartered in California, has recently reached agreements with some of its insurers, securing proceeds totaling USD 398 million related to its exposure to Russian airlines. This will be booked as extraordinary income in Tokyo Century's consolidated financial results for fiscal 2025. The settlements arise after Tokyo Century recorded an extraordinary loss in fiscal 2023 due to the unlikelihood of recovering aircraft leased to Russian airlines and related receivables. ACG then pursued legal action to claim insurance payments. While settlements have been reached with some insurers, lawsuits against others are ongoing. Tokyo Century will announce its fiscal 2025 financial forecast on May 14, 2025.