JVCKENWOOD raises 30 bn yen, buys back shares

JVCKENWOOD Corporation announced the final terms for the issuance of Zero Coupon Convertible Bonds Due 2030, totaling 30 billion yen, alongside a share repurchase program of up to 5 billion yen or 5 million shares. The bonds, offered in overseas markets, primarily Europe and Asia, have a 5-year maturity from the December 1, 2025 closing date, with an initial conversion price of 1,892.5 yen.

The net proceeds of approximately 30 billion yen will primarily fund growth initiatives, including 15 billion yen for M&A in Communications Systems and Overseas OEM Business, 10 billion yen for capital expenditures and product development in the Safety & Security and Mobility & Telematics Services Sectors, and 5 billion yen for the share repurchase. The share repurchase will occur between November 14, 2025, and December 23, 2025, primarily via ToSTNeT-3.

Separately, Spica Limited announced its intention to purchase JVCKENWOOD's convertible bonds, with the purpose of investing in the credit component of the CBs or providing investment opportunities. Spica Limited does not intend to exercise the stock acquisition rights to acquire common stock or vote on such common stock. The maximum number of voting rights associated with the CBs Spica Limited intends to purchase will be 10.72% of JVCKENWOOD's total voting rights.