Main

Mitsui to Participate in a U.S. Light Aircraft Manufacturing and Sales Company

Jan. 13, 2016


Mitsui & Co., Ltd.
Setouchi Holdings, Inc.


Main Contents

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) has agreed with Setouchi Holdings, Inc. ("Setouchi Holdings", Head Office: Hiroshima Prefecture, Chairman: Katsushige Kambara) to acquire a third party share allocation in Quest Aircraft Company, L.L.C. ("Quest"), an American light aircraft company under the umbrella of the Setouchi Holdings group. Within January 2016, Mitsui will acquire a 12.5% equity stake in Quest for an investment of US$10 million.

Quest is a light aircraft manufacturer, which was founded in Sandpoint, Idaho, U.S.A. in 2001 for the purpose of manufacturing aircraft for use in international humanitarian activities. In February 2015 it became part of the Setouchi Holdings group. Quest manufactures and sells the Kodiak 100 10-seater propeller aircraft. First introduced in 2007, the Kodiak 100 has gained a steadily expanding share of the market thanks to its fuel efficiency, power performance and versatility. To date Quest has manufactured over 150 of these aircraft and sold them to buyers throughout the world. It is working to achieve further business expansion by combining the track record that it has built since its founding as an aircraft manufacturer, with the accumulated manufacturing and human resources development know-how of the Setouchi Holdings group.

Light aircraft are used mainly in the agriculture and mining sectors, and as transport for people and supplies in disaster situations. Moreover, as a convenient and readily accessible form of high-speed transportation infrastructure, the light aircraft market is expected to expand not only in Europe and North America, but also in Asian countries, including Japan, because of future rising demand from wealthy people and tourism operators. Setouchi Holdings is responding to these market trends by actively working to create demand through its light aircraft sales and aviation business in Japan and overseas.

Mitsui will with its capital participation in Quest, use its global networks to support the expansion of sales channels for the Kodiak 100 in previously uncultivated markets with the potential for demand growth and work to further enhance Quest's corporate value.

Profile of Quest

Company name Quest Aircraft Company, L.L.C.
Location of headquarters Idaho, U.S.A.
Establishment May 2001
Representative Samuel Dwight Hill
Main business activities Manufacture and sales of light aircraft
Website

http://questaircraft.com/

Profile of Setouchi Holdings

Company name Setouchi Holdings, Inc.
Location of headquarters Hiroshima Prefecture, Japan
Establishment Sep 2011
Representative Katsushige Kambara
Capital ¥40 million
Main business activities Regional revitalization projects, construction, light aircraft-related business
Website

http://setouchi-hd.com

Investment Structure

Investment Structure

Kodiak 100

Kodiak 100

Kodiak 100

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
Akihiro Tamo
Telephone: +81-3-3285-6645
Facsimile: +81-3-3285-9819
Setouchi Holdings, Inc.
Public Relations
Yumiko Unoki
Telephone: +81-3-6418-6395
Facsimile: +81-3-6419-7216