ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) has acquired a 19.5% stake in Wood Partners (headquartered in Atlanta, Georgia, USA; Joseph Keough, Chairman & CEO; hereinafter "Wood"), a leading multifamily developer in the U.S., and entered into a partnership with Wood, including a capital and business alliance agreement (the "Alliance"). This initiative represents a symbolic step in ITOCHU’s comprehensive approach to the U.S. multifamily housing sector, encompassing supply of building materials, development, and operations.

The U.S. housing market is experiencing a chronic shortage of homes, and it is projected to see an increase of approx. 12.3 million households^*1 over the next decade, making it a highly promising and growing market. In particular, rising mortgage rates have increased the financial burden of purchasing homes, while demand for multifamily remains robust.

Since its founding in 1998, Wood has established an outstanding track record in the development and construction of multifamily. Currently operating in 17 locations nationwide, Wood is ranked as the third-largest multifamily developer in the U.S.^*2 as of 2025. While Wood already maintains strong partnerships, particularly with U.S. Investors, this Alliance marks a new step as ITOCHU becomes a long-term strategic partner. Leveraging ITOCHU’s extensive network with Japanese investors, Wood aims for further business expansion.

In Japan, the ITOCHU Group has accumulated extensive expertise in the development, management, and operation of both for-sale and rental housing, including the management of the largest residential-focused J-REIT^*3 in Japan. Since resuming its real estate business in 2014 in the U.S., ITOCHU has made numerous project investments, primarily in the multifamily sector. Through this Alliance, ITOCHU will enter the U.S. developer business—the world’s largest real estate market—and position its collaboration with Wood as a core element of its overseas real estate strategy, aiming to build a stable profit. Additionally, by partnering with Japanese investors to invest in multifamily projects with a target of $1 billion, ITOCHU will further expand its real estate-related profit. By coordinating with its building materials business in North America^*4 (approximately 100 locations, annual sales of $2.2 billion), ITOCHU will maximize synergies, including stable material supply for Wood’s development projects, thereby enhancing corporate value.

ITOCHU has put forth the management policy "The Brand-new Deal – Profit opportunities are shifting downstream –" and is developing our business areas by tracking needs as they diversify with social changes and by pioneering and evolving downstream businesses that are closer to the consumers. Through this Alliance, ITOCHU will continue to provide high-value-added investment opportunities to distinguished partners in Japan and abroad, while contributing to the supply of essential housing for society.