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Kawasaki Heavy Industries, Ltd. (TYO:7012) shares tumbled more than 7% on Wednesday after a Reuters report said the Japanese industrial conglomerate is preparing to raise approximately 200 billion yen ($1.23 billion) through a mix of new share issuance and convertible bonds.
The company's stock fell as much as 7.3% to 2,709 yen, marking its lowest level since February 3, as investors reacted to concerns over potential shareholder dilution. The decline came despite a 0.6% gain in Japan's Nikkei 225 index, making Kawasaki Heavy one of the benchmark's weakest-performing stocks during the session.
According to Reuters, which cited two people familiar with the matter, the fundraising is expected to focus primarily on overseas institutional investors. The report added that the company could finalize the details of the capital raising as early as this week.
Kawasaki Heavy responded by saying it is evaluating multiple financing options, including the issuance of new shares and bonds, but emphasized that no final decision has been made regarding any fundraising plan.
The reported capital raise is expected to support the company's long-term growth strategy by funding capital expenditures across several high-priority business segments. Planned investments include aircraft engines, gas turbines, industrial robots used in semiconductor manufacturing equipment, and hydrogen supply chain infrastructure.
The move comes as Japan continues to increase investments in strategic industries such as advanced manufacturing, clean energy, and defense, creating new opportunities for major industrial companies like Kawasaki Heavy.
The company has also strengthened its position in artificial intelligence and defense technologies through strategic partnerships with global firms, including Nvidia and Airbus. These collaborations are expected to enhance Kawasaki Heavy's competitiveness in next-generation industrial and aerospace markets.
Despite the market's negative reaction to the reported fundraising, Kawasaki Heavy recently projected record operating profit for the current fiscal year after achieving all-time high sales and earnings in the fiscal year ended March. Investors will now closely watch for official confirmation of the fundraising plans and further details on how the proceeds will be deployed to support the company's long-term expansion strategy.
