Tokyo Kiraboshi to Fully Repay Public Funds Early

Tokyo, May 8 (Jiji Press)--Tokyo Kiraboshi Financial Group Inc. said Friday that it will complete the repayment of 40 billion yen in public funds injected into its predecessor by the Tokyo metropolitan government ahead of schedule.

The parent of Kiraboshi Bank had previously set a target of completing repayments by fiscal 2028, but decided to do so earlier than planned thanks to its robust business performance.

Tokyo Kiraboshi Financial Group will buy back 40 billion yen in preferred shares held by the metropolitan government by the end of this month and retire them.

Tokyo Kiraboshi Financial Group President and Group CEO Hisanobu Watanabe told a press conference Friday that the retirement of the preferred shares is the company's "biggest wish."

"Considering the degree of management freedom, there are many advantages (to finishing repayment) ahead of schedule," he added.

[Copyright The Jiji Press, Ltd.]