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Participation in Car Sharing Business

Dec. 5, 2008


Main Contents

Mitsui & Co., Ltd. (Head Office: Chiyoda, Tokyo; President: Mr. Shoei Utsuda) has established Car Sharing Japan Co., Ltd. ("CSJ"; Head Office: Shibuya, Tokyo) in order to launch a car sharing service business in which members share the same cars.
CSJ plans to begin the invitation of a new membership of the service and start its car sharing service in January 2009 in the Tokyo Metropolitan District, and to use its Tokyo operations as a launch-pad to future expansion of the business.

In Japan, with the number of new car sales declining and a recent increase in environmental awareness, the future trend in car usage has been moving towards car "use" and away from car "ownership". Car sharing has already become established in Europe and North America as a next-generation mobility service with strong local roots, and rapid growth is expected for Japan.

Mitsui aims to take the lead in building a new type of motorized society and contributing to more affluent lifestyles through the establishment of a car sharing service that allows users to drive cars any time of the day in a way that feels like driving a privately-owned car without the need for individuals or companies to own vehicles. Moreover, CSJ will be developing its business in a way that considers its impact upon the environment by using hybrid vehicles and vehicles with low fuel consumption.

Corporate Profile

Company Name Car Sharing Japan Co., Ltd.
Head Office Shibuya, Tokyo
Capital JPY 500 million
Shareholder Composition Mitsui & Co., Ltd. 100%
Representative Mr. Hideyuki Sato - President
Business Outline Provision of membership-style car sharing service

Notice:
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

Information

For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-3-3285-7562
Facsimile: +81-3-3285-9819