For inquiries on this matter, please contact
- Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-5912-0321
Facsimile: +81-3-3285-9819 - Contact form
Main Contents
Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has decided to subscribe to a third-party allocation of new shares by Okamoto Machine Tool Works, Ltd. ("Okamoto", Head Office: Annaka, Gunma; President and CEO: Tsuneyuki Ishii). Mitsui and Okamoto have concluded a capital and business alliance agreement. Mitsui will subscribe to shares amounting to 9.8billion yen and will own 30.0% of the voting rights in Okamoto after the completion of the investment, making Okamoto an equity-method associated company of Mitsui.
Okamoto manufactures and supplies high-performance machine tools including surface grinding machines and semiconductor manufacturing equipment including wafer polishing machines, boasting high global market shares. Additionally, as a long-term vision toward 2030, the company aims to be the global top in their business fields as an unparalleled "Total Abrasive Machine Manufacturer in the World."
To achieve its Medium-term Management Plan 2026, Mitsui promotes the "sustained evolution of domestic business" through the creation of business models that support structural change of Japanese industry and business development with partners utilizing Japan's leading-edge technology. Over the years, Mitsui has established a business foundation in the manufacturing and industrial machinery sector and explored new business opportunities.
Mitsui and Okamoto have entered into a capital and business alliance agreement to further accelerate growth in both the machine tools and semiconductor manufacturing equipment businesses by leveraging their management resources and expertise. Mitsui, along with its group companies, aims to strengthen Okamoto's global sales foundation and customer base, furthermore, promotes human resources development and corporate function strengthening, contributing to enhancing Okamoto's corporate value.
Schedule until the investment is confirmed (planned)
- Date of contract conclusion regarding capital and business alliance and third-party allocation: May 22, 2024.
- Payment date for third-party allocation and start date of capital and business alliance: Expected to be June 7, 2024
Company Profile
| Official name | Okamoto Machine Tool Works, Ltd. |
|---|---|
| Head Office Location | Annaka, Gunma |
| Established | 1935 (Founded:1926) |
| Representative | Tsuneyuki Ishii |
| Number of employees | 2,173 |
| Business Activities | Manufacture and sales of grinding machine and semiconductor manufacturing equipment |
| Website |
The surface grinding machine that boasts top domestic market share in ultra-precision finishing.
High-precision semiconductor wafer polishing equipment with a well-proven track record of global delivery.
Mitsui’s Materiality
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified six material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Establish a foundation for sustainable and stable supply”
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Establish a foundation for sustainable and stable supply
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Create a community coexisting with nature
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Foster a well-being society
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Cultivate societies that respect human rights
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Empower our people to build brighter futures
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Build an organization with integrity