Tokyo Century publishes presentation on ITOCHU partnership to jointly manage Aviation Capital Group in 50-50 deal
Reuters2026/08/03 06:41- Tokyo Century reached an MOU for a strategic partnership with ITOCHU covering Aviation Capital Group, shifting ACG to 50:50 joint management.
- Tokyo Century plans to transfer a 50% stake in its subsidiary TC Skyward Aviation U.S. to ITOCHU for USD 1.95 billion.
- ACG will be deconsolidated and become an equity-method affiliate for both Tokyo Century and ITOCHU; definitive agreement expected in August 2026.
- Share transfer is expected in November 2026; valuation base date was Dec. 31, 2025, with adjustments including a special dividend.
- ACG reported a fleet of 446 aircraft as of Dec. 31, 2025, with 84% of net book value in narrowbody aircraft.
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