ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has acquired a 20% equity stake in Aspirant Group Inc. (headquartered in Minato-ku, Tokyo; Akitoshi Nakamura, CEO; hereinafter “Aspirant”), a company engaged in the operation and management of private equity (“PE”) funds in Japan, and that it has made Aspirant an equity-method affiliate.

In the Japanese market, the number of business succession transactions is increasing due to the aging of business owners, and the restructuring of industry continues to advance. In addition, the number of carve-out transactions driven by large companies reviewing their business portfolios is also increasing. Against this backdrop, the role of PE funds in enhancing corporate value is becoming more important than ever through their provision of hands-on management support and capital to support the growth and transformation of corporations.

Aspirant is an independent PE fund management company with strengths in the field of business succession and carve-out investments in Japanese companies. Since its establishment in 2012, Aspirant has aimed to establish funds that contribute to society, and it has pursued initiatives to improve the performance and enhance the corporate value of its portfolio companies, drawing on its extensive expertise in evaluating investments and providing support to businesses. To date, Aspirant has invested in 28 companies and its total assets under management exceed JPY 170 billion.

ITOCHU has developed a broad range of trading, business investment and other businesses in many different industries, including consumer-related industries, from a market-in perspective. Through ITOCHU’s ongoing relationship with Aspirant since its establishment, ITOCHU has invested in funds managed by Aspirant and provided support to its portfolio companies.

Through this investment, ITOCHU aims to create new investment opportunities by combining Aspirant’s investment and management support expertise and ITOCHU’s broad industry knowledge and global network. In addition, ITOCHU will leverage the ITOCHU Digital Value Chain , which enables it to comprehensively assist companies in achieving digital transformation (DX), bolster its support for the promotion of DX, including the use of AI, and transformation of businesses, and help Aspirant’s portfolio companies achieve sustainable growth.

ITOCHU will continue to contribute to creating corporate value through its PE fund business and to the sustainable growth of the Japanese economy based on its market-in approach rooted in creating solutions to the challenges faced by the market and its customers.