CSK Holdings To Boost Capital From ACA

CSK Holding Corp., a information service company, announced that it will issue about 16 billion yen in preferred shares and around 6 billion yen in equity warrants to Ant Corporate Advisory (ACA) Inc., a Tokyo-based investment firm affiliated with Sumitomo Corp. CSK will also issue 30 billion yen in preferred shares to four partner banks-- Sumitomo Trust & Banking Co., Sumitomo Mitsui Banking Corp., Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank -- under a debt-for-equity arrangement. In addition, the banks will roll over about 50 billion yen in outstanding short-term debts by converting them into longer-term debts. Those capital-enhanced steps will be implemented on Sep. 30 following approval at an extraordinary shareholders meeting.