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Marubeni's Investment Corporation to Be Listed on Infrastructure Fund Market

2020/01/25 10:46
Kenji Kaneko, Nikkei BP Intelligence Group, CleanTech Labo
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"Ishikawa Noto Gouroku Solar Power Plant," which Japan Infrastructure Fund Investment plans to obtain (source: prospectus for the notification of the issuance and sale of new investment units, Japan Infrastructure Fund Investment)

The Tokyo Stock Exchange (TSE) approved the listing of investment units of Japan Infrastructure Fund Investment Corp (Chuo-ku, Tokyo) on its Infrastructure Fund Market Jan 15, 2020.

Japan Infrastructure Fund Advisors Ltd (Chuo-ku, Tokyo) manages the assets of the Japan Infrastructure Fund Investment. The asset management firm is invested in by Marubeni Corp (90%), Mizuho Bank Ltd (5%) and Mizuho Trust & Banking Co Ltd (5%).

The TSE's Infrastructure Fund Market was established in April 2015. In June 2016, Takara Leben Infrastructure Investment Corp (Chiyoda-ku, Tokyo) was listed as the first issue. Japan Infrastructure Fund Investment will be the seventh issue listed on the market.

It is scheduled to be listed Feb 20, 2020. As of January 15, the number of issued investment units is 1,200, and the total investment is ¥120 million (¥100,000 per unit). The number of issued investment units is planned to be increased to 71,700 at the time of the listing.

Japan Infrastructure Fund Investment invests in 15 solar power plants operating based on the feed-in tariff (FIT) scheme. The main sponsor is Marubeni, and Mizuho Bank and Mizuho Trust & Banking participate as sponsors. The total value of its assets is about ¥12,430,810,000, of which about ¥10,498,470,000 is accounted for by infrastructure assets. And 84.4% of the total value of the infrastructure assets is accounted for by investments in solar power generation facilities.

Rating and Investment Information Inc (R&I) announced Jan 15, 2020, that the rating of Japan Infrastructure Fund Investment is "A" (stable).