Mitsubishi invests P18.4B in Mynt, acquires 6.5% stake

Japanese trading giant Mitsubishi Corp. has finalized a P18.4-billion investment agreement with Ayala Corp., acquiring a 6.5% stake in GCash owner Globe Fintech Innovations Inc. (Mynt).

The deal will see each party owning a 50 percent ownership stake in AC Ventures Holding Corporation (ACV), which holds a 13 percent stake in Mynt, after Mitsubishi subscribes to over 18 million common and redeemable preferred shares of ACV.

Ayala Corp. views this partnership as a way to enhance Mynt's expansion overseas, aiming to provide more financial services to Filipino users and leveraging Mitsubishi's significant Japan-based ecosystem.

The investment will be finalized after receiving approval from the Securities and Exchange Commission for the amendment of ACV’s articles of incorporation and from the Philippine Competition Commission.

Ayala President Cezar P. Consing said the partnership is aimed at supporting and capitalizing on the Philippines' economic growth, with Mitsubishi adding meaningful value to Mynt for its over 94 million registered users.

Globe Telecom noted that 80% of Filipinos have an account with GCash, which was valued at $5 billion in 2024, contributing around 12% of Globe's net income before tax in the same year.

Investors are eagerly awaiting GCash’s anticipated public listing in the second quarter and hope for a possible exemption from the minimum public float requirement by the SEC.