Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) and SHO-BOND Holdings Co., Ltd. ("SHO-BOND", Head office: Tokyo, President and Representative Director: Tatsuya Kishimoto), a specialist in infrastructure maintenance, have concluded a shareholder agreement to establish a joint venture company for the development of business overseas.

SHO-BOND is a domestic leader in comprehensive maintenance support. It is engaged in research and development of construction methods and materials centering on the design and construction of roads, bridges, railways, ports, and buildings. It also manufactures and sells these materials and construction methods. With the establishment of this joint venture company, Mitsui and SHO-BOND plan to pursue development of this infrastructure maintenance business abroad by utilizing Mitsui's overseas business know-how and global network, including a wide range of customers and partner companies, and SHO-BOND's comprehensive technical abilities.

As aging infrastructure becomes an increasingly urgent social issue, particularly in developed countries, demand is expected to grow not just for the supply of steel for new infrastructure projects, but also for preventative maintenance and infrastructure life extension through repair and reinforcement. SHO-BOND's technology gives it a competitive edge overseas due to its long track record of repairing fatigue damage beyond what was expected at the time of construction, and of dealing with the effects of Japan's climatic zones and frequent natural disasters, such as earthquakes.

Mitsui's Iron & Steel Products segment is engaged in the procurement and sale of various steel products, mainly focusing on the automotive, infrastructure, and energy industries. It also invests in fabrication and functional logistics businesses. Looking ahead, our aim is to provide high-value added services, from parts manufacturing to maintenance and repair, and create new business through this joint venture.

Outline of the joint venture