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Participation in Plum Grove to expand Australian grain business

Dec. 20, 2012


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Mitsui & Co., Ltd. ("Mitsui," Head office: Tokyo, President & CEO: Masami Iijima) has signed an agreement with Plum Grove Pty Ltd ("Plum Grove"), a grain accumulator in Australia, for a 25% stake in Plum Grove. Mitsui subscribed to newly issued shares and also purchased shares from the existing shareholders.

Plum Grove is a grain accumulator based in Western Australia which accumulates wheat and other grains in Australia. One of the Plum Grove's strengths is its network with Australian farmers which provides it with a strong accumulation platform. Plum Grove aims to expand its handling volume in Western Australia and broaden out its business platform in other areas in Australia.

Mitsui commenced a joint operation in Western Australia with Plum Grove in October 2011 by financing Plum Grove's grain accumulation. Mitsui now purchases grains in Australia and exports them to offshore markets. Through the participation in Plum Grove, Mitsui will further strengthen its grain accumulation in Australia by operating in the grain growing areas in Australia. Mitsui will contribute to the Japanese market by providing Western Australian wheat for noodle and other grains with stability, and also expand its global distribution to the Asian and Middle Eastern markets where high growth in grain demand is expected. Moreover, Mitsui will look for opportunities to cooperate with the other shareholders of Plum Grove by way of Mitsui's capabilities in the food business as well as many other business fields.

With growing demand for grains all over the world, Mitsui will strengthen its ability to supply grains from its diversified grain originations. The grains from Australia have a complementary relationship with grains growing in the northern hemisphere and geographical advantages to the Asian and Middle Eastern markets. Mitsui will contribute to a stable grain supply from grain originations in North America, South America, Russia and Australia to Japan and other global markets.

Summary of Plum Grove

Company Name Plum Grove Pty Ltd
Location Australia , Fremantle
Foundation 2003
Representative Andrew Young, Chairman & Managing Director
Capital composition
(After Mitsui's capital injection)
Management 25%
Pacific Agrifoods Investments Pty Ltd 25%
Seaboard Corporation 25%
Mitsui 25%
Business Activities Collection and marketing of grains in Australia

Notice:
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement 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
Kayo Kobayashi
Telephone: +81-3-3285-7618
Facsimile: +81-3-3285-9819