Itochu buys majority share of Hitachi dealer in Taiwan

Japanese trading business Itochu Corp is further deepening its cooperation with Hitachi Construction Machinery through the acquisition of a 51% share of its dealer in Taiwan, Yungtay-Hitachi Construction Machinery Co.

The seller is Hitachi Yungtay Elevator Co, which is Taiwan subsidiary of Hitachi Ltd, and Hitachi Construction Machinery will retain the remaining 49% ownership.

Based in Taoyuan, Yungtay-Hitachi sells Hitachi’s construction equipment throughout Taiwan. It has four locations – in Taoyuan, Taichung, Kaohsiung and Hualien – and employs 56 people. Its revenues in 2025 were around €44.5 million.

The deal will be Itochu’s first entry into the dealership business since it formed a capital alliance with Hitachi Construction Machinery in 2022. Since then, Itochu has increased its shareholding in Hitachi CM to 33.4%, and in 2023 Itochu and Hitachi CM created ZAXIS Financial Services Americas in North America to provide finance to customers.

Itochu said it will support Yungtay-Hitachi in strengthening its services throughout the entire construction machinery lifecycle. It will send staff to be part of Yungtay-Hitachi’s management team.

The company added; “Demand for construction machinery in Taiwan is expected to remain robust, supported by continued investment in various industries, including advanced fields such as AI, data centres, and semiconductors, as well as public infrastructure development.”

Itochu said the Taiwan deal was part of a wider project to “deepen its collaboration with Hitachi Construction Machinery and seek to further strengthen and expand its business platform in the construction machinery sector.”