As announced in the news release of December 15, 2015, Mitsui & Co., Ltd. (President and CEO: Tatsuo Yasunaga) (hereinafter "Mitsui") and Komatsu Ltd. (President and CEO: Tetsuji Ohashi) (hereinafter "Komatsu") started a new distributorship business in Mexico on April 1, 2016, which covers both construction and mining equipment, by integrating construction equipment distributorship business in Mexico of Komatsu Maquinarias Mexico S.A. de C.V., an indirect wholly owned subsidiary of Komatsu held through its group companies, into Road Machinery Co., S.A. de C.V., a joint venture company between Mitsui group and Komatsu group (equity stakes: 40% by Mitsui group and 60% by Komatsu group) whose business is to provide service for Komatsu mining equipment in Mexico.
Mitsui and Komatsu position Mexico as an important market for its construction and mining equipment business, and are working for further growth by managing this distributor which covers both construction and mining equipment under Komatsu's leadership.
Mitsui and Komatsu expect minimal effect on their respective consolidated business results from the integration above.
Outline of the distributor after integration
||Komatsu Maquinarias Mexico S.A. de C.V.
(Road Machinery Co., S.A. de C.V. plans to change its name to the above.)
||Mexico City, Mexico D.F., The United Mexican States
||Mr. Manuel Eduardo Bennett Olivares
|Line of business
||Sales and product support for Komatsu construction and mining equipment
||40% by Mitsui group and 60% by Komatsu group
|Number of employees
||About 850 persons
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.