Acquisition of Shares of Fiber Marketing International, Inc., a U.S. Dealer
Tokyo Century Corporation (TC) hereby announces that its consolidated subsidiary Tokyo Century (USA) Inc.
(TCUSA, headquartered in New York, US) has acquired 100% of shares of the U.S.-based equipment dealer
Fiber Marketing International, Inc. (FMI, headquartered in Washington, US) and made it a wholly owned
1. Purpose of the share acquisition
FMI provides comprehensive services related to the sales of specialized equipment, including the sales of
small construction equipment and arbor equipment and vehicles, as well as after-sales service such as parts
replacement, maintenance and inspection, and equipment rental, mainly in the State of Washington. Demand
for small construction equipment offered by FMI is expected to increase with the expansion of infrastructure
investment and repairs in the U.S. In addition, the sustained growth of the market for arbor equipment and
vehicles is expected due to increased focus on active prevention and mitigation of wildfires on the West Coast.
TCUSA has made AP Equipment Financing Inc. (API, headquartered in Oregon, US), a leasing and financing
company with a focus on small and medium-sized trucks and arbor equipment and vehicles, a wholly owned
subsidiary in 2019. Furthermore, it has positioned API’s business as one of the growth drivers in North America
and made Work Truck Direct, Inc. (WTD, headquartered in Oregon, US), a dealer of small and medium-sized
trucks and arbor equipment and vehicles, a wholly owned subsidiary in May 2021. TCUSA has established a
One-Stop Service structure, which provides not only leasing and financing, but also sales and after-sales
The main equipment provided by FMI does not overlap with that of WTD. Moreover, FMI and WTD are based
in neighboring marketing areas that form a mutually complementary relationship, which can increase financing
opportunities for API. In addition, they are expected to achieve synergies that will lead to an increase in sales
volume by introducing manufacturers to each other and strengthening purchasing ability.
With the addition of FMI to the collaborative structure of API and WTD, TCUSA will be able to expand its OneStop Service model that offers sales and financing of niche products in the U.S. as an integrated service,
which was formulated in its strategy. Going forward, TC will continue to accelerate the expansion of its
business domains in the U.S., the important strategic area of its International Business segment.