Mitsui & Co. (Australia) Ltd. today announced the appointment of Mr. Yukio Takebe to the position of Chairman & CEO of Mitsui Australia.

Mr. Takebe will replace the current Chairman & CEO, Mr. Yasushi Takahashi, who has been promoted to Chief Operating Officer of the Americas Business Unit. The changes are effective from April 1, 2016.

Mr. Takebe, who completed his assignment as President and Chief Executive Officer of P.T. Mitsui Indonesia in March 2016, joins the Australian business with more than 30 years’ experience at Mitsui, particularly in trading, investment and development of coal, iron ore, non-ferrous metals and LNG.

Mr. Takebe has a strong connection to the Australian mineral resources and energy market, one of the most important markets for Mitsui globally, having frequently visited Mitsui’s business interests in Perth and Brisbane during his career. There he fostered strong regional relationships with industry that he plans to leverage in his new role.

Mr. Takebe will be responsible for overseeing Mitsui’s diverse portfolio of businesses in Australia including iron ore, coal, oil, gas, power generation, transportation, construction and mining machinery, chemicals, steel products, woodchips, salt, food, and financial services.

Mr. Takebe takes the reigns from Yasushi Takahashi who moves to the US to lead the Americas Business Unit. During Mr. Takahashi’s time at the helm of the Australian business he was a strong advocate for increased productivity and reduced costs within the resources sector, actively promoting the leading-edge construction and mining technology of Mitsui’s partner, Komatsu.

He was also responsible for driving Mitsui’s diversification strategy, overseeing the completion of the Bald Hills Wind Farm in 2015, and progressing Mitsui’s interests in agribusiness.

Mr. Takebe joined Mitsui in 1983 after graduating from Tohoku University majoring in law. He was previously Chief Operating Officer of the Mineral & Metal Resources Business Unit in Tokyo Headquarters and his overseas assignments have taken him to New York, London and most recently Jakarta.

 

Incoming Chairman & CEO, Mr Yukio Takebe (left) pictured with outgoing Chairman & CEO, Mr Yasushi Takahashi.

About Mitsui & Co. Ltd.

Mitsui & Co. Ltd. (“Mitsui”) is one of the world's most diversified trading, investment and services enterprises. The Mitsui group manages a diverse portfolio of businesses including iron ore, coal, gas, oil, food, grain, salt, woodchips, power generation, machinery, steel products, and chemicals in Australia. On an equity basis, Mitsui and its group companies account for an estimated $8 billion worth of Australian goods and commodities exports per annum. Mitsui is also a major investor in this country, and collectively its group companies have invested close to $15 billion into Australia over the last decade.

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. The information contained in this release is true and accurate at the time of publication; however, it may be subject to change without prior notice.