Sojitz Corporation


Acquisition of Nichimen Corporation's IT-related subsidiaries by ITX Corporation

Jul. 13, 2000
Nissho Iwai Corporation
Code No. 8063
2-4-5 Akasaka, Minato-ku, Tokyo
2-5-8 Imabashi, Chuo-ku, Osaka
Ito TEL(03)3588-4715

To whom it may concern

It is hereby notified that with effect from July 13, 2000, the stock of Nichimen Corporation's 5 IT-related subsidiaries will be acquired by ITX Corporation, a subsidiary of Nissho Iwai Corporation.


1.Purpose of Transfer

ITX Corporation, a subsidiary of Nissho Iwai Corporation, recognizes Nichimen Corporation as a strategic business partner in the field of Information Technology. As the next strategic step in the expansion of its operations in this field, ITX Corporation has decided to acquire the stock of 5 IT-related subsidiaries of Nichimen Corporation.

2.Details of Transfer

(1) Corporate profiles, business performance, and total assets of the companies proposed to be acquired:

Please refer to the appendix.

(2) Valuation and settlement:

Outright purchase of all stock held by Nichimen Corporation
Transfer value: Approx. JPY43 billion (in cash)

3.Corporate profile of Nichimen Corporation

(1)Name : Nichimen Corporation
(2)Stock Exchange Listing : Tokyo, Osaka, Nagoya, Kyoto
(3)Direct relations with Nissho Iwai Corporation   None

July 13, 2000Conclusion of stock purchase agreement

5.Future prospects
This increase in the ranks of consolidated subsidiaries is expected to lead to increased sales revenues and profits, but the original performance forecast of fiscal 2000 is not changed at present.

Profile of the companies being acquired

Name Nichimen Telecom Inc. Nichimen Data Systems Co. Nichimen Graphics Co.
Major Business Sale & Service of mobile communication equipment Sale, maintenance of H/W and S/W pertaining to computers and network equipment, as well as training and consulting; Systems integration and solutions Sale of S/W and H/W; System Integration; Technical support; Systems training and maintenance services
Established 15 Nov.1993 30 Aug.1984 29 Jul.1985
Headquarters 2-51-3, Akabane Kita-ku , Tokyo 2-19, Yanagibashi Taito-ku, Tokyo 3-20-14 Higashi Gotanda, Shinagawa-ku, Tokyo
President Naganori Tanaka Takashi Yuri Ryuji Urushizaki
Number of Employees 204 (as of 30 June 2000) 132 (as of 30 June 2000) 40 (as of 30 June 2000)
Shareholders' equity 360 million Yen 100 million Yen 100 million Yen
Financial performance & Assets Dec.1999 Mar.2000 Mar.2000
 Sales 47,898millionYen 4,630millionYen 2,035millionYen
 Recurring Profit 893 123 82
 Total Assets 12,558 3,301 1,736

Name Nichimen Electronic Components Co. Nichimen Electronic Technology Co.
Major Business Wholesale trade in electronic components as well as telecommunication and home-use equipment Development, sale and consulting pertaining to equipment and machinery utilizing Plasma and related technologies
Established 4 Apr.1988 6 Apr.1993
Headquarters 1-6-28, Nakatsu, Kita-ku, Osaka 716-1, Ohnohara village shimo-Aksaka Kawagoe-shi, Saitama
President Shinichi Komeda Shigekazu Tada
Number of Employees 32 (as of 30 June 2000) 4 (as of 30 June 2000)
Shareholders' equity 320 million Yen 180 million Yen
Financial performance & Assets Mar.2000 Mar.2000
 Sales 3,501million Yen 1,311million Yen
 Recurring Profit 46 2
 Total Assets 2,191 239

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