ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has completed its acquisition of additional shares of AICHI CORPORATION (headquartered in Ageo, Saitama; Shunichi Nakazawa, President, Representative Director and Chief Executive Officer; hereinafter “AICHI CORPORATION”). For details of the additional share acquisition, please refer to ITOCHU’s news release* dated April 7, 2026. This is a part of ITOCHU's initiative to further accelerate the business collaboration the two companies have been working on together since a capital and business tie-up agreement was signed in May 2025, and also to increase AICHI CORPORATION's corporate value over the medium and long term.

AICHI CORPORATION and ITOCHU are stepping up their collaboration in the domains specified below by integrating ITOCHU's networks in Japan and overseas, finance capabilities and business development expertise with AICHI CORPORATION's technical strengths and customer base in the area of aerial work platforms.

1. Expansion of the life cycle business in Japan
Since its formation, the alliance has achieved tangible results, such as the launch of a maintenance and leasing business for aerial work platforms in September 2025. This was followed by the construction of a used vehicle distribution network in November 2025, leveraging ISUZU UMAX Corporation, an auction operator in which ITOCHU has a stake.
With this acquisition of additional shares, ITOCHU will further leverage its knowledge in finance and resale businesses and the management resources it has cultivated in the area of machinery. Specifically, it will implement data-driven marketing measures using digital transformation (DX) tools and sales data to expand the maintenance and leasing business and establish a scheme facilitating seamless trade-in sales and purchases to step up its strategic procurement of high-quality used vehicles.
Through these initiatives, ITOCHU aims to increase revenue, not only from new vehicle sales, but from the entire product life cycle.

2. Acceleration of the growth of overseas business
AICHI CORPORATION and ITOCHU are jointly conducting market research and cultivating demand with a focus on Europe, ASEAN and other markets where urbanization is progressing and there is growing demand related to the maintenance and replacement of infrastructure. Using ITOCHU's global distribution network and trade finance capabilities, the companies have been pursuing a wide range of initiatives, including used vehicle sales in emerging countries, full-scale entry into major markets, including the United Kingdom and other countries, and strategic alliances with leading local companies.
They will continuously strengthen their alliance and strive for the steady growth of their overseas business in a phased manner with a view toward achieving an overseas sales ratio of 20% and net sales of 15 billion yen by FY2029.

Under its management policy, "The Brand-new Deal – Profit opportunities are shifting downstream –," ITOCHU is working to build a business model from a market-oriented perspective. Moving forward, ITOCHU will continue to deepen collaboration between the two companies to expand their diversified businesses in Japan and abroad to help maintain and develop social infrastructure.