Itochu (TYO:8001) has resolved to acquire a 50% equity interest in TC Skyward Aviation from Tokyo Century (TYO:8439) for $1.95 billion, making the aircraft leasing platform a jointly managed venture.

The transaction will give Itochu shared control over Aviation Capital Group (ACG), a U.S.-based aircraft lessor with over $13.7 billion in total assets, according to a Tokyo bourse filing on Monday.

In conjunction with the stake acquisition, Itochu will subscribe to 40 million bond-type class shares issued by Tokyo Century for 10 billion yen to strengthen Tokyo Century's financial base.

The deal, expected to close by November, is classified as a related-party transaction but will be conducted on fair terms with independent oversight.

The financial impact has already been reflected in Itochu's profit forecast of 950 billion yen for the fiscal year ending March 2027.