June 20, 2006
Sumitomo Corporation
Tokio Marine Capital Co., Ltd.
Notice concerning Acquisition of Equity Stake in Barneys Japan Co., Ltd.
Sumitomo Corporation (head office: Chuo-ku, Tokyo; president: Motoyuki Oka) and Tokio
Marine Capital Co., Ltd., (head office: Chiyoda-ku, Tokyo; president: Hideaki Fukazawa) today
reached an agreement with Isetan Co. (head office: Shinjuku-ku, Tokyo; president: Nobukazu Muto) toacquire all outstanding shares of Barneys Japan Co., Ltd. (head office: Shinjuku-ku; president: Naoki
Nakamura), a wholly owned subsidiary of Isetan, from the department store chain operator. Under theagreement, Sumitomo Corporation and Tokio Marine Capital concluded a contract with Isetan for theshare-acquisition deal.
Barneys Japan obtained a master license from Barneys New York, Inc. (head office: NewYork State; president: Howard Socol) in 1989 to sell Barneys apparel and sundry goods as well as
imported luxury brands in Japan. At present, Barneys Japan operates three shops in the Tokyo
metropolitan area (Shinjuku, Yokohama, and Ginza). A Barneys store features a large, luxuriously
furnished interior; a unique assortment of the latest fashion, centering on imports; customer-oriented
service by sales clerks who possess professional expertise; and the creation of a unique shop
atmosphere through the use of seasonably fitted interior displays and decoration. Thanks to suchfeatures, Barneys, as a specialty store, has established a brand image unrivaled by other stores inJapan.
Sumitomo Corporation regards the brand business as a strategically important area with highgrowth potential. By stepping up its involvement in this business, the company does not aim to justexpand trading revenues, as import agents or companies with certain business licenses aim to do.
Behind the promotion of its brand business is the company's strategy for enhancing business value andeventually expanding revenues by concentrating financial and human resources into select brand areas.
Following the sale of its equity holding in Coach Japan to the company's U.S. parent, CoachInc.-a large-scale deal that was made last year-Sumitomo Corporation's latest equity acquisition ofBarneys Japan was designed to take advantage of Barneys' brand-name recognition in Japan. Thecompany is confident that its latest contract with Isetan will further enhance the corporate value ofBarneys Japan thanks to the use of Sumitomo Corporation's human resources, those who are experts inthe brand business, and store-operation know-how along with Barneys Japan's current marketing
power, particularly its existing human resources.
In addition to the brand business, Sumitomo Corporation has promoted business directlyrelated to consumers, such as the mail-order business (Otto-Sumisho Inc. and Jupiter Shop Channel
Co., Ltd.), supermarket chain business (Summit Inc.), and drugstore operation (Tomod's and American
Pharmacy). We will continue proposing ways to realize high-quality lifestyles to consumers bystepping up our business in these areas.
Tokio Marine Capital is a pioneer in corporate buyout investments, having undertaken suchbusiness since 1998. The company engages in various investment-related deals, from managementbuyouts meant for the business restructuring of big companies to efforts to revive failing companies.
Major investments by the company in the past include those in Zero Co., Ltd. (previously known as
Nissan Rikuso), which engages in the vehicle transportation business; Wanbishi Archives Co., Ltd., ageneral information management company; Sweet Garden Co., Ltd. (previously known asTakarabune), which makes and sells pastry; and Benex Corp., which manufactures and sells
butt-welding pipe fittings. In the latest deal with Isetan, Tokio Marine Capital will try to enhance thecorporate value of Barneys Japan in collaboration with Sumitomo Corporation by arranging financing
for its new store openings, providing negotiation support, and offering advice in the formulation offinancial and capital strategies. Tokio Marine Capital will acquire shares of Barneys Japan from Isetan
through TMCAP2005, a limited liability investment business association operated by Tokio Marine
Capital.
Sumitomo Corporation and Tokio Marine Capital will try to realize a growth strategy for
Barneys Japan (specifically, the business expansion of its existing stores in the Tokyo metropolitan
area and new store openings in major cities across the nation) by combining the outstanding brandpower of the Barneys name and the business resources of the two companies, while helping Barneys
Japan take a bigger leap forward.

<Outline of Barneys Japan Co., Ltd.>
Corporate Name:

Barneys Japan Co., Ltd.

Representative:

Naoki Nakamura, Representative Board Director and President

Head Office:5-17-18 Shinjuku, Shinjuku-ku, Tokyo

Establishment:

June 16, 1989

Primary Business Line:

Men's and women's apparel

Fiscal Year:

March-February

Employees:

281 (as of the end of February 2006)

Stores:

Shinjuku, Yokohama, and Ginza

Capita:¥2,490 million (as of the end of February 2006)

Outstanding Shares:

49,800 shares

Earnings Results:(Fiscal year ended Feb 2006)
Sales¥15,611 million

Operating Profit ¥515 million

Inquiries:

Pretax Profit¥467 million

Net Profit¥391 million

Sumitomo Corporation
Corporate Communications Department
Atsushi Yoroi
Tel:03-5166-3132
E-mail:atsushi.yoroi@sumitomocorp.co.jp
Tokio Marine Capital Co., Ltd.
Kazutaka Komori
Tel:03-5223-3516
E-mail:komori@tmcap.co.jp