ITOCHU Acquires Additional Stake in YANASE & CO., LTD.
In December 2013, ITOCHU acquired 6,484,000 shares of common stock in YANASE & CO., LTD., through a tender offer from Nippon Tochi-Tatemono Co., Ltd., amounting to a 13.72% share of voting rights in YANASE and increasing ITOCHU’s ownership of the company to 39.44%. With more than 200 outlets throughout Japan, YANASE is the country’s leading car dealer in terms of units sold. This investment aims to ensure that the company continues to develop its operations further and build a highly profitable operation by promoting the consolidated operation of its three pillars: new car sales, used car sales, and after-sales services; reinforcing its management of the value chain; and making management improvements that will lead to further growth. ITOCHU will continue to support YANASE’s management on both the capital and operational fronts. We will also make use chiefly of ITOCHU Group networks to expand the company’s overseas business and contribute to increases in its corporate value.