Business deals

Itochu caps off takeover of Descente with change in president

Battle over management ends as sportswear maker bows to demands

20180324N itochu descente logo composite

The dispute between Itochu and Descente led to what is believed to be the first successful hostile takeover between major Japanese companies.

Nikkei staff writers
March 25, 2019 02:04 JST

OSAKA - Japanese sportswear giant Descente will remove a founding family member as president in a move designed to end a monthslong dispute and appease its largest shareholder, trading house Itochu, Nikkei has learned.

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