Subsidiaries / Associate Entitie

Subsidiaries

As of March 31, 2024, the Company has no Subsidiaries.

Associate Entities

DESCRIPTION

Established on September 1, 2008 under the name PT Hitachi Construction Machinery Finance Indonesia (HCMFI), Hexa Finance began its commercial operation in January 2009. Hexa Finance is engaged in heavy equipment financing, specifically those distributed by Hexindo. Hitachi Construction Machinery (HCM) Co., Ltd. owns 85% of HCMFI’s shares, while the remaining 15% is owned by Hexindo.

In March 2015, ITOCHU Corporation (ITOCHU Group, Japan) and Tokyo Century Corporation, Japan (formerly Century Tokyo Leasing Corporation, Japan) respectively acquired 50% and 20% of HCMFI’s shares. The acquisition allowed ITOCHU Group to advice on the business management side in Indonesia, including sales finance services, while Tokyo Century Corporation focuses on the leasing and finance sides. The main purpose of the acquisition was to provide high quality financing service to HCM, increase the sales of HCM products in Indonesia, anticipate the growing demand from the construction and infrastructure sectors, as well as raise awareness of the corporate values of HCMFI.

PT Hitachi Construction Machinery Finance Indonesia later changed its name to PT Hexa Finance Indonesia, with the following shareholder composition:

• ITOCHU Corporation, Japan (37.5%)
• Tokyo Century Corporation (20%)
• Hitachi Construction Machinery Co,. Ltd, Japan (15%)
• PT Hexindo Adiperkasa Tbk (15%)
• ITOCHU Indonesia (12.5%)

As a financing company with captive market for PT Hexindo Adiperkasa Tbk’s products, Hexa Finance has the potential to continue to grow and develop.