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4-Traders Homepage  >  Equities  >  Tokyo  >  Itochu Corp    8001   JP3143600009

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Itochu Corp : ITOCHU Announces Collaboration with AIR WATER INC. in the Healthcare Field

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02/14/2013 | 07:43am CEST

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February 14, 2013

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter "ITOCHU") announced today that it has agreed to transfer 60% of the shares of ITOCHU's wholly owned subsidiary, Healthcare-Tech Corporation (headquartered in Fuchu City, Tokyo; Kenichi Watanabe, President; hereinafter "Healthcare-Tech"), to AIR WATER INC. (headquartered in Osaka City, Osaka; Hiroshi Aoki Chairman & CEO; hereinafter "AIR WATER"). The shares will be transferred following the necessary approval of the relevant authorities.

Healthcare-Tech possesses know-how and a proven track record from 20 years' experience as one of the leading Supply Processing Distribution (hereinafter "SPD services") companies specializing in medical equipment and pharmaceuticals. The company has been steadily increasing its contract business, mainly for large hospitals in Japan. Healthcare-Tech also provides a range of services to medical organizations, including wholesale of generic pharmaceuticals and import and sales of medical equipment.

AIR WATER is one of the major suppliers of medical gas and hospital facility constructors in Japan. The company provides a wide range of total healthcare services to a number of domestic medical organizations, including SPD Services, contract sterilization services, manufacturing and sales of medical equipment, nursing care services and home medical care services. ITOCHU resolved to transfer part of its share of Healthcare-Tech, recognizing collaboration with AIR WATER in SPD Services as the best opportunity to accelerate the growth of Healthcare-Tech.

In a joint effort with AIR WATER, ITOCHU will continue to improve the corporate value of Healthcare-Tech and to create a new business model of high value, taking advantage of the know-how it has accumulated during its many years in the medical industry, and its procurement ability based on its domestic and international networks.

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Financials ( JPY)
Sales 2017 4 873 973 M
EBIT 2017 -
Net income 2017 347 174 M
Debt 2017 2 571 900 M
Yield 2017 4,30%
P/E ratio 2017 5,87
P/E ratio 2018 5,68
EV / Sales 2017 0,97x
EV / Sales 2018 0,93x
Capitalization 2 133 487 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 1 530  JPY
Spread / Average Target 19%
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NameTitle
Masahiro Okafuji President, CEO & Representative Director
Eizo Kobayashi Chairman
Tsuyoshi Hachimura Chief Financial Officer & Representative Director
Shunsuke Noda Manager-Information & Communications
Koji Takayanagi Representative Director & Executive Vice President
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