Sojitz Corporation


Transfer of Nichimen's business related to Daihatsu Motor Co., Ltd. to Toyota Tsusho

Oct. 30, 2002
Nichimen Corporation
Toyota Tsusho Corporation

Nichimen Corporation ( hereinafter Nichimen, President: Toru Hambayashi) and Toyota Tsusho Corporation (hereinafter Toyota Tsusho, President: Masaaki Furukawa) agreed to transfer Nichimen's business related to Daihatsu Motor Co.,Ltd. (hereinafter Daihatsu) to Toyota Tsusho due on November 1, 2002.

1.Reason for the transfer
Nichimen and Toyota Tsusho continued to discuss the business related to Daihatsu, which is currently operated by Nichimen, Motor Vehicle Department (Osaka), and judged that, in order to expand the business further, it is the best way to transfer the business from Nichimen to Toyota Tsusho.
After the transfer, Toyota Tsusho aims to pursue synergy with its existing business related to Daihatsu and to expand it further.
On the other hand, Nichimen can pursue its selection and concentration strategy and accelerate to distribute its management resources to its strategic business fields.

2.Business to be transferred

(1)The business

【1】Annual sales

1.Export of Daihatsu automobile:     9.5 billion yen
2.Import of auto parts:          0.5 billion yen
Total                    10.0 billion yen

【2】Number of employees to be moved from Nichimen Group to Toyota Tsusho Group

1.Related to export of Daihatsu automobile: 11 employees
2.Related to import of auto parts: 3 employees

(2)Subsidiaries and affiliates to be transferred (All the companies conduct their business in foreign countries. For additional information of the companies, please refer to the attached sheet.)

【1】1 automobile manufacturing company
【2】1 automobile sales-finance company
【3】1 automobile sales company

October 30, 2002 : Sign on business transfer agreement
November 1,2002 : Date of the business transfer
(The stocks of the 3 companies described above 2(2) are scheduled to be transferred from Nichimen to Toyota Tsusho due on January 1, 2003.)

(Additional Information)

Subsidiaries and affiliates(Annual production, sales,and revenue shown below are the number for the fiscal year 2001.)

【1】Automobile manufacturing company:
P.T.Astra Daihatsu Motor (hereinafter ADM, which is operating in Indonesia.)

Stockholders Nichimen 6.38%, Daihatsu 61.75%, Astra International 31.87%
Annual production 20,711 cars
Annual sales 1,597,337 million rupiah (approximate 21.6 billion yen)

【2】Automobile sales-finance company:
P.T.Astra Auto Finance (hereinafer AAF, which is operating in Indonesia.)

Stockholders Nichimen 30%, ADM 35%, Astra group 35%
Annual revenue 83,997 million rupiah (approximate 1.1 billion yen)

【3】Automobile sales company:
DPS Daihatsu Parts Service S.r.l .(hereinafer DPS, which is operating in Italy.)

Stockholders Nichimen 80%, JAP srl 20%
Annual sales of automobiles 2,840 cars
Annual sales 33,121,000 Euro. (approximate 4 billion yen)

Nichimen:PR and IR Dept., Furuya or Ochi, Tel:(03)5446-1062
Toyota Tsusho:Corporate Communication Group,Kaga or Konishi, Tel:(052)584-5011

The original and official version of this notice is written in Japanese.
In case of any discrepancies between this notice and the original, the Japanese version shall govern.

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