Dentsu Soken to go private via Itochu subsidiary tender offer

Dentsu Soken has announced its support for a tender offer (TOB) by VIC, a subsidiary of Itochu Corporation, to take the company private. The move aims to create synergies between Dentsu Soken’s consulting and application development capabilities and the Itochu Group’s extensive customer base and IT infrastructure expertise.

Under the terms of the offer, VIC will acquire shares at 2,880 yen per share, representing a 5.15% premium over the closing price on August 27. The total acquisition cost is estimated at approximately 215.1 billion yen. If successful, Dentsu Soken will be delisted from the Tokyo Stock Exchange and become a joint venture between the Dentsu Group and the Itochu Group. The Dentsu Group, which currently holds a 61.78% stake, does not intend to participate in the tender offer and will maintain its current shareholding.

Additionally, Dentsu Soken plans to enter into a business alliance with Itochu Techno-Solutions (CTC) to strengthen its IT service competitiveness. The tender offer is expected to commence in early November 2026, subject to regulatory approvals.