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Acquisition of Taiwan TV Shopping Outfit ShopNet Co., Ltd.

Mar. 27, 2009


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Mitsui & Co., Ltd. (headquarters: Chiyoda-ku, Tokyo; CEO: Shoei Utsuda; indicated below as "Mitsui & Co."), has acquired from Taiwan's Chinatrust Group's companies and others stock in ShopNet Co., Ltd. (office: Neihu District, Taipei; indicated below as "ShopNet"), a provider of 24-hour television shopping. Mitsui & Co. has reached an agreement with current shareholders that ShopNet will now become a subsidiary. As a result of the acquisition, Mitsui & Co. will assume 85% ownership of ShopNet stock, while Chinatrust Group companies will maintain 15%. This is the first time a Japanese corporation has assumed the business rights to a 24-hour shopping concern in Taiwan or anywhere else in Asia.

Economic growth in Asia in recent years has been accompanied by a sharp expansion in consumption. Having determined that 24-hour television shopping will expand rapidly in Asia as well, Mitsui & Co. decided to acquire ShopNet, Taiwan's third largest provider of 24-hour TV shopping.

Since January of 2006, ShopNet has been broadcasting 24-hour television shopping over cable TV on a channel called "ViVa." In Taiwan, cable television reaches about 6.3 million households (the equivalent of 84% of all households in Taiwan), and ShopNet is broadcast to all households with cable. Using ShopNet as a subsidiary, Mitsui & Co. plans to wed the respective TV-shopping business know-how of Taiwan and Japan while also adding to ShopNet's product portfolio both merchandise that is selling well via TV shopping in Japan and the finer products of Japanese companies.

Mitsui & Co. initiated its television shopping business in 1984 on late-night programs on terrestrial channels in Japan. It later established QVC Japan as a joint venture with the USA outfit QVC., Inc., in 2001 in order to begin 24-hour television shopping business operations. In 2004, it invested in Grand Marche Inc., a TV-shopping subsidiary of Tokyo Broadcasting System, Incorporated, and is currently pursuing multifaceted TV-shopping business operations. With 24-hour television shopping industries having been established in Japan, South Korea, and Taiwan, there are currently nascent developments taking place in China and India. Mitsui & Co. hopes to use its work in Taiwan to make inroads into the 24-hour television shopping business in Asia in order to accommodate the diversifying styles of consumption in each respective nation.

ShopNet Co., Ltd.

Founded 2005
Headquarters British Virgin Islands
Office Neihu District, Taipei
Chairman Shuichi Kanno (scheduled to assume position on April 1)
CEO Winston Hsia
Business operations 24-hour television shopping in Taiwan
No. of employees about 400

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

Media inquiries are to be directed to the following
Mitsui & Co., Ltd.
Corporate Communications Div.
Telephone: +81-3-3285-7562
Facsimile: +81-3-3285-9819
General inquiries are to be directed to the following
Mitsui & Co., Inc.
Kakuno, Asian Business Dept., Media Business Div.
Telephone: +81-3-3285-7259
Facsimile: +81-3-3285-8625