Mitsui & Co., Ltd. ("Mitsui", head office: Tokyo, President and CEO: Masami Iijima) decided to acquire the land and building of "Ohtemachi PAL Building" ("the Property") from Promise Co., Ltd. ("Promise") jointly with Mitsui Fudosan Co., Ltd. (head office: Tokyo, President and CEO: Hiromichi Iwasa). Mitsui will acquire 50% portion of joint ownership of the Property for ¥36.0 billion, which will be leased to Promise for their headquarter use.
1. Outline of the Property to be acquired
|Name of asset||Ohtemachi PAL Building|
|Address||2-4, Ohtemachi 1-chome, Chiyoda-ku, Tokyo, Japan|
|Total floor area||27,923.18m2|
|Type of ownership||50% portion of joint ownership of the Property|
|Acquisition Price||¥36.0 billion|
2. Outline of Seller
|(1) Corporate name||Promise Co., Ltd.|
|(2) Location of head office||2-4, Ohtemachi 1-chome, Chiyoda-ku, Tokyo, Japan|
|(3) Representative||Ken Kubo,
President and Representative Director, CEO
|(4) Capital||¥80,737 million|
|(5) Business activities||Consumer finance|
3. Acquisition schedule
|March 14, 2011||Execution of agreement for the acquisition of the Property (scheduled)|
|March 22, 2011||Settlement and handover (scheduled)|
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
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