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.