ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that the succession of the business operations of TOKYO-DO (headquartered in Koto-ku, Tokyo; Mitsutaka Onose, President; hereinafter “TOKYO-DO”) by absorption-type company split, through ITOCHU's subsidiary ITOCHU Retail Link Corporation (headquartered in Chuo-ku, Tokyo; Masanori Nakajima, President; hereinafter “ITOCHU Retail Link”).

Since its founding in 1917, TOKYO-DO has developed a commercial logistics network connecting retailers and manufacturers, and has played a key role in the distribution of products for major manufacturers of daily necessities and cosmetics, primarily to drugstores, convenience stores, supermarkets, and variety shops. ITOCHU acquired a stake in TOKYO-DO in 2005, with the aim of utilizing the company's wide-area commercial logistics functions.

ITOCHU Retail Link supplies daily necessities and household goods for consumers, and develops and sells products for convenience stores and other retail stores. After the succession, by inheriting TOKYO-DO's excellent network of business partners, ITOCHU Retail Link will continue to expand its sales channels, develop products with a market-oriented perspective, and collaborate with manufacturers of daily necessities and cosmetics. ITOCHU will drive logistics collaboration with ITOCHU Retail Link and other Group companies and the construction of a nationwide distribution network, as well as future collaborations with manufacturers of daily necessities and cosmetics, such as proposing new materials and raw materials and supporting overseas expansion. Through these initiatives, ITOCHU will aim to drive the further evolution of its retail business, in line with the rapidly changing needs of the retail industry.

ITOCHU has put forth the management policy "The Brand-New Deal: Profit is Downstream" and is developing our business areas by tracking needs as they diversify with social changes and by pioneering and evolving downstream businesses that are closer to the consumers.

Date of split (effective date): September 1, 2024 (planned)