ITOCHU Announces Acquisition of Shares in Mazda Motor Corporation
November 18, 2010
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it has decided to acquire additional shares in Mazda Motor Corporation (headquartered in Aki-gun, Hiroshima; Takashi Yamanouchi, President & CEO; hereinafter “Mazda”) from Ford Motor Company (headquartered in Dearborn, Michigan, the United States; Alan Mulally, President and CEO; hereinafter “Ford”). Details are as follows:
Details of Acquisition of Shares
|Type||Common shares outstanding of Mazda|
|Number of shares to be acquired||46,311,000 shares (2.6% of total shares outstanding)|
|Number of common shares owned by ITOCHU before acquisition||7,100,000 shares (0.4% of total shares outstanding)|
|Number of common shares to be owned by ITOCHU after acquisition||53,411,000 shares (3.0% of total shares outstanding)|
|Total amount of this acquisition||Approximately 10.8 billion yen|
|Planned acquisition date||November 19, 2010|
Purpose of Acquisition of Shares
ITOCHU has decided to acquire part of Mazda’s common shares owned by Ford, as a longtime business partner of Mazda.
ITOCHU aims to continue to develop the business with Mazda, strengthening the strategic partnership it has with Mazda through the acquisition of the shares. ITOCHU will expand business collaboration with Mazda in emerging markets and new business fields, making the most of the functions of the ITOCHU Group, as well as the existing business.