Hitachi Construction Machinery : Agreement Signed for Joint Investment in the Hitachi Construction Machinery Operators Training Center

Tokyo, Japan June 28, 2019 -- OUTSOURCING Inc. (TSE:2427; 'OS'), OS's subsidiary PEO Co., Ltd. ('PEO'), and Hitachi Construction Machinery Co., Ltd. (TSE: 6305; 'Hitachi Construction Machinery') today announced the signing of an agreement to jointly invest in Hitachi Construction Machinery Operators Training Center Co., Ltd. ('Training Center'), a 100% wholly owned subsidiary of Hitachi Construction Machinery which implements skills training for construction machinery and other equipment.

When the joint investment comes into effect on August 1, 2019, 51% of the issued shares held by Hitachi Construction Machinery will be transferred to PEO, and the shareholder composition of the Training Center will be 51% owned by PEO and 49% by Hitachi Construction Machinery. In addition, the company name will change to 'PEO Construction Machinery Operators Training Center Co., Ltd.' on the same date.

Since the announcement of the 'Basic Agreement Regarding the Hitachi Construction Machinery Operators Training Center Joint Investment Company' between the OS Group and Hitachi Construction Machinery on May 31, 2019, both parties have repeatedly discussed how to provide the 'training to learn about all stages of ICT construction' which is frequently requested by customers in addition to the existing construction machinery skills training. As a result, both parties signed an agreement to jointly operate the current Training Center as a joint investment company.

The company will draw on the personnel utilization know-how of the OS Group which extends from research and development to mass-production processes in the manufacturing industry and Hitachi Construction Machinery's knowledge of ICT construction solutions to develop and provide training which covers all stages of ICT construction from construction surveying to design and construction planning, construction, inspection, and data delivery in addition to the training previously provided by the Training Center to customers engaged in ICT construction.