Mori Hamada & Matsumoto and Clifford Chance have advised on ITOCHU Corporation’s USD1.9 billion investment in aircraft lessor Aviation Capital Group.
The deal involved acquiring a 50% stake in TC Skyward Aviation US, the owner of Aviation Capital Group.
ITOCHU will acquire the 50% interest from Tokyo Century Corporation, which wholly owns TC Skyward Aviation. The transaction will also result in Aviation Capital Group moving to a joint management structure under ITOCHU and Tokyo Century.
Additionally, ITOCHU said it would subscribe to JPY10 billion (USD65 million) of bond-type class shares to be issued by Tokyo Century.
Mori Hamada advised Tokyo Century, with the team comprising partners Tomohiro Tsuchiya, Tomoya Fujita, Nobuhiko Suzuki and Junichi Tsuji, along with senior associates Masataka Hayano and Taisei Katano.
Clifford Chance represented ITOCHU, with the team led by partner Peter Laveran-Stiebar and counsel Christine Kim. Associates Peter Guinnane and Xue Zhang provided additional support.
ITOCHU expects to complete its investment in Aviation Capital Group in the third quarter of 2026, subject to approvals and permits from the relevant authorities and other customary conditions.
Through this investment, ITOCHU intends to further enhance Aviation Capital Group’s managed aircraft portfolio and expand its business scale.
ITOCHU is a general trading entity headquartered in Tokyo and Osaka, while TC Skyward Aviation US is an aircraft leasing and financing holding company. Tokyo Century is a Japanese financial services and equipment leasing firm.
