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Business deals

Under Armour's Japan distributor to be bought by Itochu

Japanese trading house continues push in sportswear market

An Under Armour store in Tokyo. The brand has about 30 directly run shops in Japan.

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.

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