Japan’s Itochu acquires 20% stake in PE firm Aspirant Group

Itochu Corp (TYO:8001) reported record first-half net profit of 580.5 billion yen, up 16% YoY, with core profit rising 33% to 504.5 billion yen. The company maintained its full-year net profit forecast of 950 billion yen. Growth was driven by non-resource and resource-related segments, with machinery, metals, and energy contributing significantly. Itochu expects a slowdown in energy and chemicals earnings in the second half.

ITOCHU Corp., Mercuria Holdings, and En Growth Fund invested in Capital Ship Co., parent of Smart Technologies, a Japan-based duty-free tech provider. The investment aims to capitalize on Japan's growing inbound tourism and a 2026 duty-free system reform. Smart Technologies' services are used by 2,500+ retailers, and the new system is expected to boost demand for tax refund support.

Wei Ying-chiao, an executive of Ting Hsin International Group, acquired a 17.274% stake in Taipei Financial Center Corp. (TFCC), operator of Taipei 101, from Itochu. Wei's company, Cheng Mei Capital, will join other shareholders, including government-invested banks, in TFCC. Itochu had previously reduced its stake in TFCC.

The EU Commission approved Dentsu Group and ITOCHU's acquisition of Dentsu Soken. The deal involves enterprise services and software. The Commission found no competition concerns due to the joint venture's minimal EU activities. The case was reviewed under a simplified procedure.

Itochu and Tokyo Century plan to jointly acquire Aviation Capital Group. The deal involves purchasing shares, giving them joint control. Itochu is a diversified trading company with aircraft leasing operations.

ITOCHU Corporation is acquiring a 50% stake in TC Skyward Aviation U.S., which owns aircraft leasing firm Aviation Capital Group, for approximately US$1.946 billion. The deal includes a joint management structure with Tokyo Century Corporation. Clifford Chance is advising ITOCHU on the transaction.