Itochu and Japan Industrial Partners to acquire a 26% stake in the construction unit of Hitachi for $1.7bn.

Itochu, a Japanese corporation based in Umeda, and Japan Industrial Partners, a venture capital firm based in Tokyo, agreed to acquire a 26% stake in the construction unit of Hitachi, a Japanese multinational conglomerate corporation, for $1.7bn. Hitachi will use the proceeds obtained from the acquisition as a source of funds for strengthening its financial base, returning to its shareholders, and investing in growth opportunities, and will strive to enhance its corporate value via sustainable growth through social innovation business.