Boeing [NYSE: BA] and Tokyo-based Japan Investment Adviser Co., Ltd., (JIA) [TSE: 7172] today announced at the Paris Air Show a commitment to purchase 10 Boeing 737 MAX 8s.

The commitment, valued at $1.12 billion at current list prices, will become JIA’s first direct purchase of new airplanes. The order will be reflected on Boeing’s Orders and Deliveries website once it has been finalized.

“With its clear performance advantages, the 737 MAX will make a great addition to our single aisle aircraft assets and will diversify our operating lease portfolio,” said JIA president and CEO Naoto Shiraiwa. “We are proud to be here to deliver this message with Boeing and are convinced that the 737 MAX will provide us with a stronger competitive edge to contribute to our existing and future airline clients as an operating lessor.”

JIA is an innovative Financial Solutions Provider, who is listed on the Tokyo Stock Exchange. Its Group activities include operating a lease business that manages a fleet of around 60 aircraft worldwide through its operating lease arm, JP Lease Products & Services (JLPS). The current managed fleet includes Next Generation Boeing 737s as well as Boeing 777s.

“We are honored to partner with Japan Investment Adviser on their first direct airplane purchase,” said Ihssane Mounir, senior vice president of Global Sales and Marketing, Boeing Commercial Airplanes. “JIA has been very successful in managing a large fleet of Boeing airplanes through JLPS and we are proud to welcome them into our 737 MAX family as our newest customer. This significant milestone will be the first of many as we look to build on our strong partnership going forward.”