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Market Chatter: Itochu Unit to Take Over SunMed's Japan Sales Operations as Weak Yen Hits Profits

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Itochu's (TYO:8001) subsidiary, Century Medical, is taking over the Japan sales and logistics operations of U.S. medical equipment maker SunMed Group, Bloomberg News reported on Wednesday.

SunMed has struggled with profitability in the country due to the weak yen and inflationary pressures, the news wire said, citing sources familiar with the matter.

Century Medical will handle sales, delivery, inventory management, and other logistics for SunMed products, including closed suction catheters in Japan, the publication said.

SunMed does business in Japan under the AirLife brand following a 2023 rebranding, the report said.

The transaction, expected to be completed as early as July, involves no capital movement; an AirLife spokesperson confirmed the deal without elaborating, it added.

Itochu did not reply to MTNewswire's queries at press time.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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