For inquiries on this matter, please contact
- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd. (head office: Chiyoda-ku, Tokyo, President: Masami Iijima, "Mitsui" ), Mori Seiki Co., Ltd. (head office: Nagoya City, Aichi Prefecture, President: Masahiko Mori, "Mori Seiki") and Gildemeister AG (head office: Bielefeld, Germany, CEO: Rüdiger Kapitza, "DMG") have reached agreement on the transformation of a European machine tool sales and finance company into a joint venture.
Mitsui operates a wholly owned machine tool leasing company based in Germany (MFS Europe Gmbh, head office: Stuttgart). This company will be converted into a joint venture through the capital participation of Mori Seiki and DMG, which formed a business and capital alliance in March 2009. This joint venture will specialize in the provision of finance leases for products manufactured by Mori Seiki and DMG.
Mitsui will own 34% of the joint venture, with Mori Seiki and DMG each taking 33% stakes. The name of the company will be changed to MG Finance GmbH. It will develop its business operations across Europe and provide support for sales of machine tools from a financing perspective.
Mitsui is actively engaged in sales of Mori Seiki's machine tools in Japan, the United States, Russia and Brazil. By working with Mori Seiki and DMG, which are two of the world's leading manufacturers, it aims to provide increased finance-related support for machine tool sales and bring about a convergence of sales and finance.
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.