Hitachi is selling around half its 51 per cent shareholding in Hitachi Construction Machinery Co Ltd for 200 billion yen (£1.271 billion; 1,524 billion euros; US$1.7 billion) to Kwik-Fit’s owner Itochu and investment fund Japan Industrial Partners, according to reports published by Nikkei on 13 January 2022. Itochu confirmed that it is “considering this matter”, but declined to give further details later the same day in a statement that read: