Establishment of Joint Venture in Thailand

Tadano is pleased to announce that we have agreed with Italthai Industrial Co., Ltd. (ITI), our distributor operating in Thailand, to establish a joint venture as a base to strengthen the sales of truck loader cranes in Thailand.

1. Background
The Tadano Group has set "Becoming No. 1 Worldwide in the Lifting Equipment Industry" as its long-term goal, and is working to strengthen sales and expand market share of Group products in overseas markets. We are expanding the truck loader crane business overseas, especially in Thailand, which we have designated as an important region for our business. Tadano Thailand Co., Ltd., a manufacturing subsidiary of truck loader cranes, and Tadano Thai Parts and Service Co., Ltd., a sales and service company, were established in 2012 and 2013, respectively, in striving for expansion of truck loader crane sales.

In order to further increase our truck loader crane share in the Thai market, we have agreed to establish a local joint venture with our long term distributor, ITI. By doing this, we plan to integrate Tadano Group manufacturing know-how with the sales know-how of ITI. Through this, we aim to respond more closely to market needs and further accelerate the sales of truck loader cranes in Thailand.

Photo: (From Left) Mr. Koichi Tadano, CEO of the Tadano Group, and Mr. Yuthachai Charanachitta, CEO of the Italthai Group, at the Signing Ceremony held at Tadano Ltd. Head Office on April 20, 2017.

2. Corporate Data

Corporate Name	Tadano Italthai Co., Ltd.
Establishment*	May 2017
Office	Bangkok, Thailand
Paid-in Capital	THB 50 million (Approx. JPY 160 million, THB 1 = JPY 3.2) (Shareholders: Tadano 49%, ITI 48%, MHCB Consulting (Thailand) Co., Ltd. 3%)
Description of Business	Sales of truck loader cranes
Representative	Hidetoshi Iga, President
Estimate Sales	JPY 810 million by FY 2018

*The corporate name of Tadano Thai Parts and Service Co., Ltd. shall be changed to Tadano Italthai Co., Ltd. Tadano will increase its capital, and ITI will make capital injection to the company. MHCB Consulting (Thailand) Co. Ltd. is a consultancy firm aligned with Mizuho Bank.

Reference:

1. Truck Loader Crane Produced by Tadano Thailand Co., Ltd.:

2. Italthai Industrial Co., Ltd. Corporate Data

Corporate Name	Italthai Industrial Co., Ltd.
Office	2013 New Petchburi Road, Bangkapi,Huay Kwang, Bangkok, 10310 Thailand
Description of Business	Sales of construction machinery and after-sales service
Representatives	Mr. Yuthachai Charanachitta、CEO Italthai Group Mr. Adis Peukpattanaruks、CEO Italthai Industrial Co.,Ltd.
Number of Employees	484
Sales	THB 4.038 billion (Approx. JPY12.92 billion, THB 1 = JPY 3.2) <as of December 2015>