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TYO:4324

8 stories mentioning TYO:4324Updated 13d ago

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Asia

Itochu to Proceed With Privatization Offer for Dentsu Soken

Itochu (TYO:8001) has decided to proceed with a tender offer that will take consulting and solution development company Dentsu Soken (TYO:4812) private, according to Tokyo bourse filings on Monday.Itochu determined and agreed to the terms of the tender offer on Friday, but reaffirmed its position after confirming the interpretation of some provisions in the agreements with Dentsu Soken.The offer's purchase price amounts to 2,880 yen per share for about 9.3 million shares.VIC, an entity formed by Itochu, will acquire a 38.22% stake in Dentsu Soken, with the remaining shares to be retained by Dentsu Group (TYO:4324).The tender offer will begin in early November, subject to approval from competition regulators in Japan, China and the European Union.Following the tender offer, Dentsu Soken will delist from the Tokyo Stock Exchange and become a joint venture between Dentsu Group and VIC.Dentsu Soken extended its support for the offer and recommended that shareholders tender their shares.Dentsu Soken and Itochu Techno-Solutions will also sign a business alliance agreement, while Dentsu Inc. has entered into business alliance deals with Itochu Group companies Data One and Gate One.Shares of Dentsu Soken fell 2% in recent trade

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Itochu Bids to Take Dentsu Soken Private in Joint Deal with Dentsu Group
US Markets

Itochu Bids to Take Dentsu Soken Private in Joint Deal with Dentsu Group

Japanese trading house Itochu (TYO:8001) proposed to acquire a significant stake in technology services and consulting company Dentsu Soken (TYO:4812) at 2,880 yen per share, the Dentsu Group (TYO:4324) unit said in a Friday disclosure to the Tokyo exchange.Shares in Dentsu Soken jumped 6% after the midday break on Friday following its confirmation of support of Itochu's offer that came after Nikkei first reported on the offer.The offer comes as Dentsu Soken has faced criticism over its parent-subsidiary dual-listing setup, according to Nikkei.Itochu reportedly plans to purchase a 38.2% stake in Dentsu Soken for about 250 billion yen. Dentsu Group, which holds 61.8% of Dentsu Soken, will delist the IT services and consulting unit post-transaction, according to Nikkei.Itochu made the offer through its subsidiary to acquire Dentsu Soken shares not already owned by Dentsu Group.Both companies will discuss the matter during board meetings on Friday and will announce the offer formally once approved, they said in separate releases.

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Asia

Dentsu Soken Backs Itochu's Privatization Offer; Shares Jump 5%

Dentsu Soken (TYO:4812) has received a formal tender offer proposal from Itochu (TYO:8001) to acquire shares held by minority investors at 2,880 yen each and take the company private.The company issued a statement on Friday, confirming an earlier Nikkei report that it received an offer from Itochu. The report said Itochu plans to acquire a 38.2% stake in the IT services provider for 250 billion yen and take it private alongside parent company Dentsu Group (TYO:4324), which will retain a 61.8% stake.Dentsu Soken said it supports the offer and recommends that shareholders tender their shares.Shares of Dentsu Soken rose 5% in recent trade.

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Asia

Update: Dentsu Board to Decide on Soken Privatization After Reported Itochu Acquisition

(Updates to add Dentsu Soken's ticker)Dentsu Group (TYO:4324) said its board of directors will meet Friday to decide on matters related to its system developer unit, Dentsu Soken (TYO:4812), with a formal announcement to follow.The move is in response to a Nikkei report that trading house Itochu (TYO:8001) plans to acquire a 38.2% stake in Dentsu Soken for about 250 billion yen and subsequently take it private.Dentsu acknowledged the report in a stock exchange filing Friday, but clarified that no official decision had been released by the company prior to the media coverage.

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Asia

Dentsu Board to Decide on Soken Privatization After Reported Itochu Acquisition

Dentsu Group (TYO:4324) said its board of directors will meet Friday to decide on matters related to its system developer unit, Dentsu Soken, with a formal announcement to follow.The move is in response to a Nikkei report that trading house Itochu (TYO:8001) plans to acquire a 38.2% stake in Dentsu Soken for about 250 billion yen and subsequently take it private.Dentsu acknowledged the report in a stock exchange filing Friday, but clarified that no official decision had been released by the company prior to the media coverage.

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Asia

Dentsu Group Returns to Profit in H1

Dentsu Group (TYO:4324) posted attributable profit of 46.3 billion yen in the fiscal first half, recovering from a loss of 73.6 billion yen in the year-ago period.EPS was 177.58 yen, compared with a loss per share of 283.72 yen a year earlier, according to a Tokyo bourse filing on Friday.Revenue rose 5% to 717.4 billion yen from 683.9 billion yen for the six months ended June 30.For the fiscal year ending Dec. 31, 2026, the advertising company expects attributable profit of 69.7 billion yen, basic EPS of 268.50 yen and revenue of 1.492 trillion yen.Shares of the company rose nearly 2% in recent trade.

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Asia

Dentsu Says No Decision on Reported Dentsu Soken Privatization

Dentsu Group (TYO:4324) has made no announcements regarding its domestic management strategy involving group company Dentsu Soken.Responding to a Nikkei report, the advertising company said Thursday it was considering a range of options, including the privatization of Dentsu Soken, but has no information to disclose at this time.

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Asia

Market Chatter: BlackRock Eyes 15% Stake in Go Ahead of Taxi App's June 16 Listing

BlackRock plans to acquire a 15.2% stake in Japanese taxi app Go for roughly 28 billion yen as part of the company's upcoming initial public offering, Nikkei Asia reported Tuesday.The purchase amounts to 11.81 million shares, the report said.Go detailed its secondary offering in a Monday statement, announcing plans to sell up to 36.9 million shares at an indicative price range of 2,350 to 2,400 yen per share, plus an overallotment option of up to 3.55 million shares managed by Nomura Securities.Major existing shareholders selling down their stakes include DeNA(TYO:2432), NTT DOCOMO, and Toyota (TYO:7203), along with domestic sellers such as Aioi Nissin Dowa Insurance, SMBC Trust Bank, KDDI (TYO:9433), and Dentsu Group (TYO:4324).(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.)

Nikkei 225TYO:2432TYO:4324TYO:7203TYO:9433

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