ITOCHU Announces Partial Sale of Shares of Space Shower Networks Inc.
March 1, 2022
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that it has sold part of its shares of Space Shower Networks Inc. (headquartered in Minato-ku, Tokyo; Yoshito Hayashi, President and CEO; hereinafter "Space Shower Networks"), an equity-method affiliated company. Details are as follows.
1. Details of shares sold
| Number of shares sold | 2,245,500 shares |
|---|---|
| Date of sale | March 1, 2022 |
| Number of shares held after sale | 1,650,500 shares (ratio to the total number of shares outstanding: 19.86%) |
2. Future policy
Since the establishment of Space Shower Networks as a subsidiary, ITOCHU has been collaborating with the subsidiary in line with its business development.
ITOCHU does not plan to sell additional shares at this time, and ITOCHU intends to work on enhancing the company's corporate value, mainly by supporting its efforts for building business tie-ups or collaborative relationships with third parties.