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.