Mitsui & Co., Ltd. (“Mitsui”, head office: Tokyo, President and CEO: Kenichi Hori) decided on April 2, 2025 (European time) to acquire 50% of shares in ITC Rubis Terminal Antwerp NV (“ITC Rubis”), a European tank terminal operator in which Mitsui currently holds 50% of shares through a subsidiary, thereby making it a wholly owned subsidiary (the “Acquisition”), and has signed a share purchase agreement.

ITC Rubis, which specializes in the storage, handling, and logistics of liquid chemicals, has been operated as a joint venture company since 2008 by Mitsui and Rubis Terminal Infra SAS, currently known as Tepsa Infra SAS (“Tepsa”), each investing 50%. Operations began in 2010, and business has since expanded by leveraging the strategic location of Antwerp, Belgium, a key chemical logistics hub in Europe. Storage capacity is currently approximately 300,000 ㎥.

Through ITC Rubis becoming a wholly owned subsidiary, Mitsui will double its earnings from ITC Rubis, and quickly and actively accelerate the further expansion of the tank terminal.

The Acquisition is scheduled to be completed in the fiscal year ending March 2026, subject to the fulfillment of conditions precedent, including obtaining the necessary approvals from relevant authorities. As a result of the Acquisition, Mitsui will revalue the fair value of its existing shares in ITC Rubis and expects to record a valuation gain of approximately 9 billion JPY in the consolidated financial results for the fiscal year ending March 2026.

About Mitsui

Mitsui & Co., Ltd. is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries. Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world's main mega-trends: sustainability, health & wellness, digitalization, and the growing power of the consumer.