TOKYO -- Trading house Itochu will buy a majority stake in U.S. sportswear company Under Armour's exclusive Japanese distributor, Nikkei has learned, as it pursues a larger foothold in a market expected to grow.
Itochu has agreed to acquire shares in the distributor, Dome, held by the founder and the company's other executives. Itochu is expected to own about 70% of Dome after the transactions are complete, with Under Armour retaining its roughly 30% stake.
