ITOCHU Corporation (TSE:8001) proposed to acquire the remaining 47.54% stake in ITOCHU-SHOKUHIN Co., Ltd. (TSE:2692) from group of shareholders for ¥78.4 billion on February 25, 2026. The consideration consists of ¥13,000 per common share in cash. The Tender Offeror has set 1,801,900 shares as the minimum number of shares to be purchased in the Tender Offer (ownership ratio: 14.20%). If the total number of shares, etc., tendered in the Tender Offer is less than the minimum number of shares to be purchased as set out above, the Tender Offeror will not purchase any of the Tendered Shares, Etc. Conversely, the Tender Offeror has not set an upper limit on the number of shares to be purchased in the Tender Offer, and, if the total number of Tendered Shares, Etc. meets or exceeds the minimum number of shares to be purchased, the Tender Offeror will purchase all of the Tendered Shares, Etc. As of As of March 17, 2026, the Tender Offeror entered into respective tender contracts with ASAHI BREWERIES, LTD., Hagoromo Foods Corporation, Morinaga & Co., Ltd., Umios Corporation, S&B FOODS INC., Meiji Co., Ltd., Kewpie Corporation, The Nisshin OilliO Group, Ltd., NIPPN CORPORATION, Nestlé Japan Ltd., Gekkeikan Sake Company, Limited, Asahi Soft Drinks Co., Ltd., Ozeki Co., Ltd., Tatsuuma-Honke Brewing Co. Ltd., HAKUTSURU SAKE BREWING CO.,LTD., BULL-DOG SAUCE CO.,LTD., Sumitomo Mitsui Trust Bank, Limited, and YUASA FUNASHOKU Co., Ltd., who are shareholders of the Target Company, whereby they agreed to tender all of their Target Company Shares in the Tender Offer and not to withdraw their tenders.
ITOCHU Corporation (TSE:8001) completed the acquisition of remaining 47.54% stake in ITOCHU-SHOKUHIN Co., Ltd. (TSE:2692) from group of shareholders on April 9, 2026. On closing of the offer, 4,768,910 shares were tendered and the balance will be acquired through the Squeeze-Out Procedures. ITOCHU Corporation now owns 11,425,026 Company Shares representing 90.05% stake in ITOCHU-SHOKUHIN Co., Ltd. As of April 28, 2026, the Squeeze-Out Procedures has commenced and the shares of ITOCHU-SHOKUHIN Co., Ltd. is expected to de-list on May 19, 2026. Nomura Securities Co., Ltd. acted as financial advisor and fairness opinion provider to ITOCHU Corporation.
Umios Corp, formerly Maruha Nichiro Corp, is a Japan-based company mainly engaged in the marine resources, food distribution and processed food business. It operates through three business segments. Marine Resources Business segment consists of the fisheries unit, aquaculture unit, which farms yellowtail, amberjack and tuna domestically and North America unit, which has business bases in North America and Europe. Food Distribution Business segment consists of the seafood trading unit, which has a sales network including procurement and market distribution of seafood, food distribution unit, which manufactures and sells marine products and commercial products to various business types and agriculture and livestock unit, which handles livestock and agricultural products. Processed Food Business segment consists of the processed food unit, and fine chemical unit. Other businesses include storage, transportation, and delivery of frozen foods and feed, as well as real estate.
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