Mitsubishi Corporation is set to significantly increase its ownership stake in Philippine conglomerate Ayala Corporation through a deal valued at about $709.5 million (around P44.5 billion). Ayala says Mitsubishi has signed a definitive agreement that covers the acquisition of both primary and secondary shares, resulting in a substantially larger stake for Mitsubishi.

The reports describe this as a deepening of a relationship that has lasted more than five decades. While the outlets focus on the same transaction and overall value, they emphasize different ways of presenting the size of the increase—some frame it as boosting or tripling Mitsubishi’s stake. The structure includes purchases under the agreement that combine primary issuance and secondary share acquisitions, rather than a single method of purchase.

Overall, outlets agree on the core facts: a definitive agreement is signed, the transaction value is roughly $709.5 million, and the share purchases will materially increase Mitsubishi’s stake in Ayala.