ITOCHU Announces Acquisition of Additional Shares of AICHI CORPORATIONNew

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that it has decided to acquire additional shares of AICHI CORPORATION (headquartered in Ageo, Saitama; Shunichi Nakazawa, President and Representative Director and Chief Executive Officer; hereinafter "AICHI CORPORATION"), an equity-method affiliate of ITOCHU (hereinafter the "Stock Acquisition").

In recent years, the aerial work platform market in Japan has remained firm, supported by expanding demand related to infrastructure development projects, mainly in the electric power, communication and construction industries. In overseas markets as well, demand for aerial work platforms is increasing due to the maintenance, repair and reinforcement of infrastructure in developed countries and the advancement of urbanization and growing demand for the development of electrical and communication infrastructure in emerging countries.

AICHI CORPORATION holds an approximately 70% share of the truck-mounted aerial work platform market in Japan. It is a leading company in the industry that has long provided products and services which are indispensable in the construction of social infrastructure. Since the capital alliance in May 2025, ITOCHU has built a strong partnership with AICHI CORPORATION and jointly promoted initiatives aimed at continued growth, including the strengthening of value chains in the domestic market in areas such as finance, after-sales services and used vehicle sales, as well as the development of overseas markets. As a result, synergies between the two companies have steadily begun to emerge.

Through this Stock Acquisition, ITOCHU will further strengthen its collaboration with AICHI CORPORATION and further accelerate the company's sustainable growth and the creation of synergies with the ITOCHU Group.

Under its management policy, "The Brand-new Deal: Profit opportunities are shifting downstream," ITOCHU is working to build a business model from a market-oriented perspective. Going forward, ITOCHU will continue to contribute to the maintenance and development of social infrastructure through this Stock Acquisition.

About AICHI CORPORATION

About the Stock Acquisition

The Stock Acquisition is considered an acquisition equivalent to a tender offer pursuant to paragraph (1) of Article 167 of the Financial Instruments and Exchange Act and in Article 31 of the Order for Enforcement of the Financial Instruments and Exchange Act, as the intent is to acquire 5% or more of the voting rights of AICHI CORPORATION. Therefore, ITOCHU will publish an outline of the Stock Acquisition below pursuant to paragraph (4) of Article 167 of the Financial Instruments and Exchange Act and in item (i) of Article 30 of the Order for Enforcement of the Financial Instruments and Exchange Act.