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Notice of the Sale of Shares in B Food Science Co., Ltd.

Jan. 15, 2025


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Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Kenichi Hori) has contributed to society by providing a stable supply of functional materials such as sugar-based polyols for over 50 years through its wholly-owned subsidiary B Food Science Co., Ltd. (“BFS”). As part of the reconfiguration of its business portfolio, Mitsui today decided to sell all of its shares in BFS to PTCJ-7 Holdings Inc., a subsidiary of Polaris Capital Group Co., Ltd., and has signed a share purchase agreement (the “Transaction”).

1. Overview of the subsidiary to be sold (BFS)

(1) Name B Food Science Co., Ltd.
(2) Location 24-12 Kitahama-cho, Chita City, Aichi, Japan
(3) Title and name of representative Akito Umeda (President and CEO)
(4) Description of business Manufacturing and sales, contract manufacturing, and wholesale of functional food materials, pharmaceutical materials, and chemical materials, mainly centered on sugar-based polyols
(5) Capital 250 million yen
(6) Date of establishment Established in 1969, became a wholly-owned subsidiary of Mitsui in 2002
(7) Major shareholders and ownership ratios Mitsui (Ownership ratio: 100%)
(8) Relationship between Mitsui and the said company Capital relationship 100% owned by Mitsui
Personnel relationship Mitsui dispatches a Managing Officer, an Audit & Supervisory Board Member, and an employee to BFS
Business relationship There are no material business relationships
(9) Financial position of said company for the last three fiscal years
Fiscal year ended March, 2022 March, 2023 March, 2024
Total assets 11,635 million yen 12,619 million yen 13,867 million yen
Net assets 7,249 million yen 7,625 million yen 8,194 million yen

2. Overview of the counterparty acquiring the shares

(1) Name PTCJ-7 Holdings Inc.
(2) Location 1-9-1 Marunouchi, Chiyoda-ku, Tokyo, Japan
(3) Description of business Management of corporate equity and share ownership
(4) Capital 25 thousand yen
(5) Date of establishment December 9, 2024
(6) Major shareholders and ownership ratios Polaris Capital Group Co., Ltd. (Ownership ratio: 100%)
(7) Relationship between Mitsui and the said company Capital relationship None
Personnel relationship None
Business relationship None

3. Number of shares transferred, transfer price, and shareholding before and after the transfer

(1) Number of shares held before the change 250,000 shares
(Ratio of voting rights held: 100%)
(2) Number of shares transferred 250,000 shares
(3) Number of shares held after the change 0 shares
(Ratio of voting rights held: 0%)
(4) Transfer price Not disclosed

4. Schedule

(1) Date of decision January 15, 2025
(2) Date of agreement signing January 15, 2025
(3) Completion date of transfer February 2025 (scheduled)

5. Outlook

This Transaction is expected to be completed by the end of the fiscal year ending March 2025, subject to the satisfaction of conditions precedent, such as obtaining the necessary approval by relevant authorities. Mitsui will record a profit in the fourth quarter of the fiscal year ending March 2025 following the completion of the Transaction, part of which has been reflected in Mitsui’s forecast for the fiscal year ending March 2025 announced on November 1, 2024.

Information

For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Investor Relations Division
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Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-5912-0321
Facsimile: +81-3-3285-9819
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