Mitsui Announces Partial Sale of Investment in Recruit Holdings Co., Ltd.

LONDON--()-- 

This announcement is for our U.S.$5,000,000,000 Euro Medium Term Note Programme.

August 28, 2019

For Immediate Release
To Whom It May Concern

Company Name: Mitsui & Co., Ltd.
Representative: Tatsuo Yasunaga, President & CEO
(Code No.: 8031)
Head office: 1-3, Marunouchi 1-chome, Chiyoda-ku, Tokyo

Mitsui Announces Partial Sale of Investment in Recruit Holdings Co., Ltd.

Mitsui & Co., Ltd. (hereinafter “Mitsui” or “the Company”, President and CEO: Tatsuo Yasunaga) announced today that it has decided to sell a portion of the common stock that it owns in Recruit Holdings Co., Ltd. (hereinafter “Recruit Holdings”, Tokyo Stock Exchange First Section, Code No.: 6098) as one of the selling companies taking part in a secondary offering of common stock by Recruit Holdings under the Company’s policy on shareholdings in accordance with Japan’s Corporate Governance Code. For further details, please refer to the announcement “Announcement of Secondary Offering of Shares” made by Recruit Holdings today.

1. Stock to be sold

(1) Common Stock in Recruit Holdings: 15,000,000 shares

With regard to the remaining shares of Recruit Holdings that Mitsui will continue to hold, the Company has agreed with the joint global coordinators of this secondary offering that no share disposal of any kind shall be performed without the prior written consent of the joint global coordinators during the period starting from the date on which the share sale price is determined and ending on the date that is 180th day from and including the date of delivery of the shares regarding this global offering(lock-up period).

(2) The sales price from Mitsui to the underwriters is to be determined on any of the days during the period from September 10, 2019 (Tuesday) to September 12, 2019 (Thursday).

2. Mitsui’s stock ownership before and after the sale

(1) Number of shares owned before the sale: 27,000,000 shares

(2) Number of shares owned after the sale: 12,000,000 shares

3. Impact on earnings forecasts

Mitsui will make a prompt announcement as needed regarding the impact on earnings forecasts after the sales price is determined. On a consolidated basis, the gain and loss on sale of investment securities associated with the sale of Recruit Holdings shares is accounted for as comprehensive income on the consolidated financial statements and does not have any impact on the consolidated earnings forecasts.

For further information, please contact:

Mitsui & Co., Ltd.

Investor Relations Division Tel: +81-3-3285-7588

Corporate Communications Division Tel: +81-3-3285-6645

Notice:

This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements. This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

Short Name: Mitsui & Co., Ltd.
Category Code: MSCH
Sequence Number: 674749
Time of Receipt (offset from UTC): 20190828T090908+0100

Contacts

Mitsui & Co Ltd

Contacts

Mitsui & Co Ltd