ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that, jointly with NISSIN FOODS HOLDINGS CO., LTD. (headquartered in Shinjuku-ku, Tokyo; Koki Ando, President, Chief Executive Officer) subsidiary Nissin Foods Company Limited (headquartered in Hong Kong; Kiyotaka Ando, Chairman; hereinafter "Hong Kong Nissin"), it has increased the capital of Nissin Marketing and Sales (H.K.) Limited (headquartered in Hong Kong; hereinafter "NMS"), which oversees the food wholesale business in Hong Kong and Mainland China. This joint increase of capital was conducted via ITOCHU HONG KONG LTD. (headquartered in Hong Kong; Hiroaki Shiokawa, Managing Director; hereinafter "ITOCHU HONG KONG").

NMS oversees sales subsidiaries dealing widely in foods, beverages, and other products in Hong Kong and Mainland China. Through this joint capital increase, ITOCHU will drive initiatives to attract food brand partners in the region, leveraging the ITOCHU Group's merchandise procurement capabilities and global network in the food products marketing and distribution area and providing a wide range of high-quality branded products to local consumers via the broad customer networks of the sales subsidiaries of NMS.

In the Hong Kong and Mainland China market, strengthening merchandise procurement capabilities, enhancing the brand portfolio, opening up both online and offline sales routes, and streamlining logistics are increasingly important due to the increasing diversity of consumers' needs and changing lifestyles and sales channels. Through this project, Hong Kong Nissin and ITOCHU HONG KONG will reinforce the logistics platform of NMS, aiming to achieve sustainable growth and increased competitiveness.

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.