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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  ITOCHU Corporation    8001   JP3143600009

ITOCHU CORPORATION

(8001)
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Itochu : Acquisition of Membership Interests of Alta Forest Products LLC

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01/14/2018 | 09:14pm EDT

ITOCHU Corporation (ITOCHU) (TSE:8001; Head Office: Minato-ku, Tokyo; President and Chief Executive Officer: Masahiro Okafuji) and ITOCHU International Inc. (III) (Head Office: New York, NY; President and Chief Executive Officer: Tomofumi Yoshida) have reached an agreement with E.R. Probyn Ltd. (Probyn), a Canadian Corporation and Welco Lumber Company (Welco), a US Corporation to acquire all of the issued and outstanding membership interests of Alta Forest Products LLC (Alta) from Probyn and Welco.

Alta is the largest wood fence board manufacturer in North America, producing 360 million board feet annually in its four (4) manufacturing plants located in the Pacific Northwest of the United States.
Alta has established a leading position in the market for Western Red Cedar fence boards, a premium product, through outstanding production efficiency driven by its specialized manufacturing process.

ITOCHU Group has long been a leader in the North American fence distribution industry through III's ownership of MASTER-HALCO Inc. (MASTER-HALCO) (Head Office: Dallas, TX; President and Chief Executive Officer: Kotaro Yamamoto), which operates five (5) chain link fence manufacturing plants and 53 distribution centers in North America.
Through this acquisition, ITOCHU aims to strengthen its fencing business in North America further, capitalizing on the expected synergies between Alta's leading wood fencing supply position and MASTER-HALCO's leading sales and distribution network.

Alta Profile

Name Alta Forest Products LLC
URL https://www.altafp.com/
Head Office 810 NW Alta Way Chehalis, WA 98532
Title and Name of Representative Mike Pedersen (President and Chief Executive Officer)
Foundation 2014
Plant Locations 4 Manufacturing Plants (3 in Washington and 1 in Idaho, USA)
Revenue US$220million (FYE2017)
Number of Employees 450(as of November 2017)

MASTER-HALCO Profile

Name MASTER-HALCO, Inc.
URL https://www.masterhalco.com/
Head Office 3010 LBJ FREEWAY SUITE 800, DALLAS, TEXAS 75234
Title and Name of Representative Kotaro Yamamoto (President and Chief Executive Officer)
Foundation 1961
Plant Locations 3 Plants (USA) / 2 Plants (Canada)
Branch Location 48 Branches (USA) / 5 Branches (Canada)
Revenue US$427million(FYE2017)
Number of Employees 634(as of November 2017)

Western Red Cedar Fence

Overview of the Morton Plant

Itochu Corporation published this content on 15 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 January 2018 02:14:07 UTC.

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Financials
Sales 2020 11 415 B 107 B 107 B
Net income 2020 505 B 4 724 M 4 724 M
Net Debt 2020 2 450 B 22 895 M 22 895 M
P/E ratio 2020 7,84x
Yield 2020 3,39%
Capitalization 3 846 B 35 983 M 35 948 M
EV / Sales 2020 0,55x
EV / Sales 2021 0,54x
Nbr of Employees 119 796
Free-Float 89,2%
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Technical analysis trends ITOCHU CORPORATION
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 10
Average target price 2 628,89 JPY
Last Close Price 2 585,00 JPY
Spread / Highest target 12,2%
Spread / Average Target 1,70%
Spread / Lowest Target -14,9%
EPS Revisions
Managers
NameTitle
Masahiro Okafuji Chairman & Chief Executive Officer
Yoshihisa Suzuki President, COO, Representative Director & CIO
Tsuyoshi Hachimura Chief Financial Officer & Representative Director
Yuji Fukuda Representative Director & Executive Vice President
Tomofumi Yoshida Representative Director & Executive Vice President
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