KKR Announces Tender Offer to Acquire Hitachi Transport System
Summary
Under a newly published medium-term management plan ending March 2025 (“LOGISTEED 2024”), the Company looks to enhance its capabilities through the integration of digital transformation, logistics technology and on-site capabilities in order to strengthen and expand its overseas presence, become a leading 3PL player in Asia, evolve its “Smart Logistics”, and bolster its Environmental, Social, and Governance (ESG) management practices. This transaction will be financed predominantly from KKR’s Asia IV Fund and is designed with a low-leverage capital structure for HTS’s sustainable growth. For details regarding the conditions of the commencement of the tender offer, please refer to the full text of the filing notice issued today titled, “Notice regarding the commencement of the tender offer for Hitachi Transport System Ltd. (TSE stock code 9086).” Hiro Hirano, Co-Head of Asia Pacific Private Equity at KKR and CEO of KKR Japan, said, “We are pleased to have this opportunity to invest in Hitachi Transport System, a pioneer in the Japanese 3PL market that has provided innovative logistics and supply chain solutions for many years. We look forward to utilizing KKR’s global network and expertise to accelerate Hitachi Transport System’s next phase of growth and help the Company achieve its goal of becoming the leading 3PL company in Asia through technology enablement and inorganic growth in a collaborative manner.” Japan continues to be a key market for KKR in Asia Pacific and globally. The financial advisors to the Offeror, Hitachi, and HTS as well as the tender offer agent (including their respective affiliates) may engage prior to the commencement of, or during, the tender offer period in the purchase or arrangement to purchase shares of the Company for their own account or for their customers’ accounts to the extent permitted under the Japanese Financial Instruments and Exchange Act, Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934, as amended and other applicable laws and regulations.