BAKU, Azerbaijan, April 15. ITOCHU Corporation
has completed a series of transactions to acquire additional shares
in Hitachi Construction Machinery Co., Ltd., following the
necessary regulatory approvals, the company said, Trend
reports.
The deal, initially announced on February 19, 2026, was executed
through a structure in which HCJI Holdings Ltd. acquired all shares
of HCJI previously held by HCJ Holdings. The latter had jointly
owned HCJI with Citrus Investment G.K. on an equal 50-50 basis. HCJ
Holdings operates as a special purpose vehicle backed by an
investment fund managed and advised by Japan Industrial Partners,
Inc..
The total acquisition price amounted to 134.08 billion yen.
Hitachi Construction Machinery is expected to undergo a
corporate rebranding and will be renamed LANDCROS Corporation in
April 2027.
ITOCHU said it is currently assessing the potential impact of
the transaction on its consolidated financial results for the
fiscal year ending March 31, 2027. Further details are expected to
be disclosed as part of its FY2026 Management Plan, scheduled for
release on May 1, 2026.
Looking ahead, the company plans to deepen cooperation with
Hitachi Construction Machinery across key markets, including North
America, with a focus on strengthening the company’s management
base and enhancing its global competitiveness.
