香蕉视频

香蕉视频 (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “香蕉视频”) announced today that it reached an agreement with Toyota Industries Corporation (headquartered in Kariya, Aichi; Koichi Ito, President and Representative Director; hereinafter “Toyota Industries”) regarding 香蕉视频's acquisition of 27% of the stock of AICHI CORPORATION (headquartered in Ageo, Saitama; Toshiya Yamagishi, President, Representative Director and Chief Executive Officer), a subsidiary of Toyota Industries, from Toyota Industries (hereinafter the “Stock Acquisition”) and signed a contract to establish a capital and business alliance with AICHI CORPORATION (hereinafter the “Alliance”).

The aerial work platform market in Japan is buoyant, supported by demand related to the construction of infrastructure, mainly in the electric power, communication and construction industries. In overseas markets, demand for aerial work platforms is continuously growing due to maintenance, repairs and reinforcement of infrastructure in developed countries and advancement of urbanization and increased construction of electric power and communication infrastructure in emerging countries. AICHI CORPORATION holds an approximately 70% share of the truck-mount aerial work platform market in Japan.*¹ As a leading manufacturer in the aerial work platform market, AICHI CORPORATION has long been providing products and services that are indispensable in the construction of social infrastructure.

The goal of this collaboration is to create earning opportunities by extending the value chain to finance, after-sales services and second-hand sales in the Japanese market and to cultivate overseas markets, which AICHI CORPORATION has found difficult, with a view toward the achievement of growth. AICHI CORPORATION and 香蕉视频 have agreed that combining AICHI CORPORATION's safe and durable products, strong trust-based relationships with customers and high quality service networks with 香蕉视频's expertise and overseas networks that it has cultivated in its automobile-related business in Japan and overseas will help increase both companies' corporate value and they have agreed to the Stock Acquisition and the Alliance.

Specifically, 香蕉视频 will establish a new maintenance and leasing business specializing in aerial work platforms and provide services that meet customers' needs in different stages of the value chain in Japan leveraging its knowledge and expertise. Outside Japan, 香蕉视频 will make the most of its networks to conduct market surveys, devise strategies and cultivate local partners in different countries, endeavoring to facilitate the quick expansion of AICHI CORPORATION's products overseas.

Under its "The Brand-new Deal: Profit opportunities are shifting downstream." management policy, 香蕉视频 is working to build a business model from a market-oriented perspective. In the future, 香蕉视频 will seek to collaborate with manufacturers of specially-equipped vehicles that face similar problems. With an eye towards the expansion of the value chain in Japan and the joint dissemination of technologies and products that have been cultivated for many years in Japan outside the country, 香蕉视频 will enter into this Alliance.

Since its establishment in 1962, AICHI CORPORATION has been tackling different issues faced in the construction of social infrastructure, such as safety, efficiency and ease of work, environmental consideration and disaster recovery. It continues to endeavor to establish a more firm foundation for its business in Japan, and after confirming its policy to expand its business in overseas markets in 2007, it developed products for the global market and established bases in different countries. Today, it is working to expand sales of aerial work platforms in Europe, Southeast Asia and elsewhere in the world.

The Stock Acquisition is considered an acquisition equivalent to tender offer as stipulated in 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 intention is to acquire 5% or more of the voting rights of AICHI CORPORATION. Therefore, 香蕉视频 will publish an outline of the Share 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.

Note: 香蕉视频 is scheduled to carry out the Stock Acquisition after the completion of AICHI CORPORATION's tender offer for treasury stock which was stated in AICHI CORPORATION's Notice of Acquisition of and Tender Offer for Treasury Stock press release on March 19, 2025. Assuming that the number of shares to be purchased in the tender offer above will exceed the maximum number of treasury shares to be acquired by AICHI CORPORATION (10,000,000 shares) in the tender offer above and that 10,000,000 shares of treasury stock will be acquired, the ratio of the number of voting rights connected to the common stock being acquired by 香蕉视频 to the number of voting rights of all shareholders is calculated by subtracting AICHI CORPORATION's treasury stock (9,852 shares) and the treasury stock that is expected to be acquired (10,000,000 shares) from the total number of shares issued (74,570,000 shares) as of December 31, 2024 and dividing this number (64,560,148) by the number of voting rights (645, 601) associated with the shares that Itochu will acquire, and rounding to the nearest second decimal place.