Primary contents from here.
TSE Filings 2000
On the Sale of a subsidiary of ITOCHU International Inc.
April 18, 2000
This document is an English translation of a statement written initially in Japanese.
The Japanese original should be considered the primary version.
ITOCHU International Inc., a 100% subsidiary of ITOCHU Corporation, has signed an agreement to sell a leasing company wholly owned by its subsidiary.
1. Name of Company Sold
Copelco Capital Inc. (Industry: leasing)
2. Sold to
Citibank, N.A.
3. Date of Signature
Friday, March 31, 2000 (local time)
The transaction is expected to be completed at the beginning of May subject to various regulatory approvals of the U.S. antitrust law.
4. Capital Gain
approx. USD302 million profit before tax
5. Reason for Sale
To improve the company's consolidated financial position through the reduction of total assets and interest-bearing debt and the realization of capital gain, and to change the portfolio of businesses in order to increase capital efficiency and further succeed in the 21st century.
ITOCHU Mission
Corporate Governance
CSR Report
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