Toyobo Co (JP:3101) has released an update.
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Toyobo Co., Ltd. aims to secure 40 billion yen through a mix of subordinated loans and bonds to invest in its growth strategy and to enhance corporate value as part of its ‘Sustainable Vision 2030’. The financial instruments chosen are hybrids with equity-like features but will not dilute existing shares, with the raised funds projected to be recognized as 50% equity by rating agencies. The funds will support the expansion of its films, life science, and environmental and functional materials businesses, despite challenging economic conditions.
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