SEVEN bank plans to sell its inventory shares to Itochu Corporation to raise 51.4 billion yen.

SEVEN Bank announced on September 26 that it has decided to sign a capital and business alliance agreement with Itochu Corporation and to conduct a third-party placement of its inventory shares to Itochu. SEVEN Bank will allocate 191,700,000 shares of inventory stock to Itochu, raising approximately 51.4 billion yen. As a result, Itochu's shareholding in SEVEN Bank is expected to reach 16.34%. In addition to acquiring the company's shares through this inventory stock disposition, Itochu plans to increase its shareholding in the company through market purchases or other means until it holds 20% voting rights.