ITOCHU Announces the Conclusion of Agreements Regarding BIGMOTOR’s Business Reconstruction
March 6, 2024
ITOCHU Corporation (headquartered in Minato-ku, Tokyo), ITOCHU ENEX Co., LTD. (headquartered in Chiyoda-ku, Tokyo) and J-Will Partners Co., Ltd. (headquartered in Chiyoda-ku, Tokyo) found that business reconstruction of BIGMOTOR Co., Ltd. (headquartered in Tama-shi, Tokyo; hereinafter "BM") would be viable and worthwhile as the result of Due Diligence which had been announced in the press release on November 17, 2023. In the form of company split, the main business of the BM will be transferred to a new company. Today the agreements regarding business succession are concluded among the parties, and the three companies will inaugurate the new company immediately after the predetermined conditions are fulfilled.