BAKU, Azerbaijan, Feb.18. ITOCHU Corporation
has agreed to raise its shareholding in Hitachi Construction
Machinery Co., Ltd. (HCM) to 33.4% by acquiring shares held by a
special purpose company invested by funds managed or advised by
Japan Industrial Partners, Inc., through an affiliated company,
Trend reports citing ITOCHU.
ITOCHU does not plan any further acquisition of HCM shares.
The move is aimed at deepening the partnership between ITOCHU
and HCM, supporting HCM’s medium- to long-term growth and enhancing
its corporate value.
As part of the transaction, HCJI Holdings, Ltd., a company
jointly owned on a 50-50 basis by Citrus Investment G.K., a wholly
owned ITOCHU subsidiary, and JIP’s special purpose company, will
acquire JIP’s stake in HCM.
Prior to this transaction, Citrus acquired an additional 0.4% of
HCM shares through market purchases in early February 2026. With
these transactions, ITOCHU’s total shareholding in HCM, including
direct and indirect holdings, is expected to reach 33.4%.
Regulatory clearance for the deal is expected between February
and April 2026, with HCJI Holdings’ acquisition of JIP’s stake
anticipated to be completed in April 2026.
HCM is pursuing sustainable growth under its medium-term
management plan, “BUILDING THE FUTURE 2025,” with a focus on
innovative solutions, value chain expansion, operations growth in
the Americas, and strengthening corporate capabilities. The company
also announced plans to rebrand as LANDCROS Corporation in April
2027, accelerating its global expansion under the new brand.
Since forming a capital alliance in 2022, ITOCHU has supported
HCM from both business and management perspectives. The additional
share acquisition strengthens ITOCHU’s commitment to HCM’s brand
transformation and long-term growth strategies.
