Itochu becomes main shareholder of Aichi

Itochu Corp has acquired a 27% share of Japanese aerial platform manufacturer Aichi Corp. The deal will see Itochi become the largest shareholder of Aichi, taking over from Toyota Industries Corp, which will remain a minority shareholder.

The deal, described as a “capital and business alliance”, will see Itochu help Aichi develop its export sales and well as its offer in areas such as finance, after-sales service and used equipment. The transaction is expected to close in mid-May.

Itochu, which is one of Japan’s largest trading companies, said it would establish a new maintenance and rental business for Aichi’s aerial platforms in Japan, and for export markets would “make the most of its networks to conduct market surveys, devise strategies and cultivate local partners in different countries, endeavouring to facilitate the quick expansion of Aichi Corp’s products overseas.”

Aichi produces a wide ranage of scissor lifts, telescopic booms, and truck-mounted aerial platforms. (Photo: Aichi)

It will be Itochu’s latest move into construction equipment and rental. It is owner of US equipment manufacturer Multiquip and is an investsor in the online rentals portal Big Rentz.

In recent years it has partnered with Hitachi Construction Machinery to offer finance to Hitachi’s customers in North America.

Aichi is a famous name in aerial platforms, producing truck mounted aerial platforms, scissors and self-propelled booms, and digger derricks. Itochu said it had a 70% market share for truck mounted units in Japan. It reported sales of €327 million in 2024 and is forecasting €358 million this year.

Itochu said its investment in Aichi was part of a new strategy that will seek it seek to collaborate with other Japanese manufacturers of special vehicles “that face similar problems” in exporting.

Aichi has exported its machines to Europe and North America for decades. In 2010 it started to sell aerial platforms in North America through Toyota Material Handling USA, and launched a range of slab scissors in 2017. In Europe, Aichi Sales Office in the Netherlands manages the European sales business.

Itochu, which has headquarters in both Tokyo and Osaka, is a large trading company active in multiple countries, with seven offices in Japan, 87 outside Japan and more than 4,100 employees.