ITOCHU Announces Partial Sale of Shares of eGuarantee, Inc.
May 21, 2020
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today that it has sold part of its shares of eGuarantee, Inc. (headquartered in Minato-ku, Tokyo; Masanori Eto, President & CEO; hereinafter “eGuarantee”), an equity-method affiliated company, as described below.
1. Details of shares sold
|Number of shares sold||3,900,000 shares|
|Date of sale||May 21, 2020|
|Number of shares held after sale||6,336,800 shares
(ratio to the total number of shares outstanding: 14.9%)
2. Future policy
Since establishing eGuarantee in 2000 as a subsidiary, ITOCHU has been collaborating with the subsidiary throughout its growth stage. ITOCHU does not plan to sell additional shares at this time, as ITOCHU intends to hold its shares to pursue the expansion of synergies with eGuarantee to build, maintain, and strengthen the business and collaborative relationships related to the guarantee business.