ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it will acquire a 51% stake in Yungtay-Hitachi Construction Machinery Co., Ltd. (headquartered in Taoyuan, Taiwan; hereinafter “YHCM”), a company engaged in the sale and servicing of the products of Hitachi Construction Machinery Co., Ltd. (headquartered in Taito-ku, Tokyo; hereinafter “Hitachi Construction Machinery”) and other manufacturers in Taiwan. The shares will be acquired from Hitachi Yungtay Elevator Co., Ltd. (a Taiwan subsidiary of Hitachi, Ltd.), making YHCM a consolidated subsidiary of ITOCHU. Hitachi Construction Machinery will continue to hold the remaining 49% stake in YHCM. The investment will be made upon completion of the necessary procedures.
This initiative is ITOCHU’s first entry into the dealership business since forming a capital alliance with Hitachi Construction Machinery in 2022. By participating in the management of customer-facing sales and service operations, ITOCHU will strive to enhance the corporate value of YHCM and further strengthen the construction machinery value chain with Hitachi Construction Machinery and expand its profitability.

Since forming a capital alliance with Hitachi Construction Machinery in 2022, ITOCHU has advanced various collaborative projects with the company. In 2023, ITOCHU and Hitachi Construction Machinery jointly established a construction machinery finance company ZAXIS Financial Services Americas, LLC (hereinafter “ZAXIS Finance”) in North America to provide financial support for customers’ equipment investments. In April 2026, ITOCHU increased its equity stake in Hitachi Construction Machinery to 33.4%, further reinforcing their partnership. Following the provision of financial services via ZAXIS Finance, this investment in YHCM will facilitate collaboration regarding the customer touchpoints that are the front lines of sales and service operations. The partnership between ITOCHU and Hitachi Construction Machinery continues to steadily expand from equipment supply to sales, and further to the provision of services supporting customers’ business activities.

Since its foundation in 1998, YHCM has sold and serviced products manufactured by Hitachi Construction Machinery and Sumitomo Heavy Industries Construction Cranes Co., Ltd. throughout Taiwan. With four locations in Taoyuan, Taichung, Kaohsiung, and Hualien, YHCM covers all of Taiwan. The company’s strengths include tailored proposals addressing the diverse needs of individual customers and a rapid after-sales service system leveraging its branches. YHCM has long supported the development of Taiwan’s construction and infrastructure sectors. Demand for construction machinery in Taiwan is expected to remain robust, supported by continued investment in various industries, including advanced fields such as AI, data centers, and semiconductors, as well as public infrastructure development.

The construction machinery business addresses a wide range of customer needs, extending beyond new equipment sales to include parts and services, used equipment, rentals, and financing of machinery. YHCM aims to continue to enhance its existing business and strengthen its services throughout the entire construction machinery lifecycle, facilitating continued growth and the expansion of its business. ITOCHU will dispatch management personnel to Taiwan to participate in YHCM’s management. By leveraging the business management expertise it has developed as a trading company and its domestic and international networks, while further deepening collaboration with Hitachi Construction Machinery, ITOCHU will work to enhance YHCM’s corporate value.

ITOCHU believes the insights gained from frontline sales and service activities through this initiative will play a significant role in further collaboration with Hitachi Construction Machinery. Under its management policy, “The Brand-New Deal: Profit opportunities are shifting downstream,” ITOCHU is reinforcing its business expansion and growth investments starting in downstream sectors. ITOCHU will continue to deepen its collaboration with Hitachi Construction Machinery and seek to further strengthen and expand its business platform in the construction machinery sector.

Note: Amounts are converted to Japanese yen at the rate of 1 Taiwan dollar = 5 yen.