ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) and ISUZU MOTORS Limited (headquartered in Yokohama-shi, Kanagawa; Masanori Katayama, President and Representative Director; hereinafter "ISUZU") announced today that they agreed to make the equity securities composition of ISUZU Leasing Services Limited (hereinafter, "ISUZU Leasing Services"), which runs a leasing business, and ISUZU UMAX Corporation (hereinafter, "ISUZU UMAX"), which runs a used car commercial distribution business, to be 51% ISUZU Motors Sales Limited and 49% ITOCHU on July 1 this year to further strengthen their ability to respond to the environmental changes surrounding the ISUZU Group's businesses peripheral to the new vehicle business.

We must respond to the changes in the environment surrounding the domestic commercial truck market, such as the efforts to address medium- and long-term depopulation and other social issues and efforts from an LCA (Life Cycle Assessment) perspective toward the implementation of CASE (Connected, Autonomous, Shared Services, Electrification) and the realization of a carbon-neutral society.

ISUZU and ITOCHU will respond these changes in the environment and position ISUZU Leasing Services and ISUZU UMAX as the companies that will engage in new initiatives in the businesses peripheral to the new vehicle business, in which to utilize the experience through ISUZU’s commercial vehicle business, and leverage ITOCHU’s expertise across the company, in order to respond to the domestic commercial truck market needs.

ISUZU continues to contribute in building a sustainable society by focusing on two axes of innovations: carbon neutral strategy and contribution to logistics evolution specified in the Mid-Term Business Plan 2024 in order to respond to societal challenges surrounding commercial vehicles.

ITOCHU aims to realize business transformation by shifting to a market-oriented perspective and enhance our contribution to and engagement with the SDGs through business activities as stated in the basic policies in its Medium-Term Management Plan. Based on those policies, ITOCHU's goal is to help achieve the SDGs through the evolution of business models, maintaining the infrastructure supporting human lives, and protecting the environment.