Business deals

Itochu purchase marks Japanese hostile-takeover milestone

Trading house amasses 40% stake in sportswear company Descente

20190314N Descente Logo

Itochu has criticized Descente for not expanding its Chinese business fast enough to capitalize on the 2022 Winter Olympics in Beijing.

YUJI OHIRA, Nikkei staff writer
March 15, 2019 03:11 JST

TOKYO -- Trading conglomerate Itochu appears to have acquired enough shares in sportswear maker Descente to complete what is seen as the first successful hostile takeover between major Japanese companies.

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