Worth reading
46Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
14.27
% (ownership ratio of shares subject to the tender offer agreements and agreements to tender shares)Wording
Definitive
How definitive the wording is.This transaction
This tender offerCounterpartyアサヒビール株式会社, Mizuho Bank, Ltd., HAGOROMO FOODS CORPORATION, Morinaga & Co.,Ltd., Umios株式会社, S&B FOODS INC., 株式会社日清製粉ウェルナ, Meiji Co., Ltd., ポッカサッポロフード＆ビバレッジ株式会社, KIKKOMAN CORPORATION, Kewpie Corporation, SAPPORO BREWERIES LIMITED, サントリー株式会社, The Nisshin OilliO Group,Ltd., NISSIN FOODS HOLDINGS CO.,LTD., NIPPN CORPORATION, ネスレ日本株式会社, 株式会社Mizkan, 月桂冠株式会社, アサヒ飲料株式会社, 伊藤忠テクノソリューションズ株式会社, 大関株式会社, 宝酒造株式会社, 辰馬本家酒造株式会社, 白鶴酒造株式会社, BULL-DOG SAUCE CO.,LTD., Sumitomo Mitsui Trust Bank, Limited, YUASA FUNASHOKU Co.,Ltd., RIKEN VITAMIN CO.,LTD., TOYO SUISAN KAISHA,LTD., 株式会社ヨークベニマル, 伊藤忠食糧株式会社, テーブルマーク株式会社, ASAHIMATSU FOODS CO.,LTD., 公益財団法人伊藤忠兵衛基金, OHMORIYA Co.,LTD., サントリーフーズ株式会社, ヤマキ株式会社, 伊藤忠ロジスティクス株式会社, Ezaki Glico Co.,Ltd., EBARA Foods Industry,Inc., キング醸造株式会社, 株式会社真誠, ヤマモリ株式会社, イカリソース株式会社
Disclosing companyITOCHU Corporation
TimelineThe spacing between the points is proportional to the actual number of days.
Consideration and expenses
Type of ConsiderationCash (the tender offer price is ¥13,000 per share)
Tender offer price¥13,000 per common share. The tender offer price for share options is Not disclosed
Minimum number of shares to be purchased1,801,900 shares (ownership ratio: 14.20%)
Impact on Business Performance
This change does not alter the tender offer conditions or other terms. The impact on results is Not disclosed
Procedures and assumptions
Management structure after acquisitionThe target company’s shares are scheduled to be taken private. Following the privatization, the capital structure and operating framework will be considered from a broad range of options, and the ownership ratios of Itochu Corporation and the tender offerors in the target company are currently undetermined. The company name, representative and treatment of employees are Not disclosed
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Counterparty name | アサヒビール株式会社, Mizuho Bank, Ltd., HAGOROMO FOODS CORPORATION, Morinaga & Co.,Ltd., Umios株式会社, S&B FOODS INC., 株式会社日清製粉ウェルナ, Meiji Co., Ltd., ポッカサッポロフード＆ビバレッジ株式会社, KIKKOMAN CORPORATION, Kewpie Corporation, SAPPORO BREWERIES LIMITED, サントリー株式会社, The Nisshin OilliO Group,Ltd., NISSIN FOODS HOLDINGS CO.,LTD., NIPPN CORPORATION, ネスレ日本株式会社, 株式会社Mizkan, 月桂冠株式会社, アサヒ飲料株式会社, 伊藤忠テクノソリューションズ株式会社, 大関株式会社, 宝酒造株式会社, 辰馬本家酒造株式会社, 白鶴酒造株式会社, BULL-DOG SAUCE CO.,LTD., Sumitomo Mitsui Trust Bank, Limited, YUASA FUNASHOKU Co.,Ltd., RIKEN VITAMIN CO.,LTD., TOYO SUISAN KAISHA,LTD., 株式会社ヨークベニマル, 伊藤忠食糧株式会社, テーブルマーク株式会社, ASAHIMATSU FOODS CO.,LTD., 公益財団法人伊藤忠兵衛基金, OHMORIYA Co.,LTD., サントリーフーズ株式会社, ヤマキ株式会社, 伊藤忠ロジスティクス株式会社, Ezaki Glico Co.,Ltd., EBARA Foods Industry,Inc., キング醸造株式会社, 株式会社真誠, ヤマモリ株式会社, イカリソース株式会社 |
| Name of the Subject Company | 伊藤忠食品株式会社 |
| Type of Consideration | Cash (the tender offer price is ¥13,000 per share) |
| Tender offer price | ¥13,000 per common share. The tender offer price for share options is Not disclosed |
| Minimum number of shares to be purchased | 1,801,900 shares (ownership ratio: 14.20%) |
| Number of shares acquired | 1,810,075 shares subject to the tender offer agreements and agreements to tender shares (ownership ratio: 14.27%). The actual number of shares acquired is Not disclosed |
| Impact on Business Performance | This change does not alter the tender offer conditions or other terms. The impact on results is Not disclosed |
| Date of board resolution | 25 February 2026 (the date on which the tender offerors decided to proceed; whether this was a board resolution is Not disclosed) |
| Contract Date | 17 March 2026 and 26 March 2026 |
| Management structure after acquisition | The target company’s shares are scheduled to be taken private. Following the privatization, the capital structure and operating framework will be considered from a broad range of options, and the ownership ratios of Itochu Corporation and the tender offerors in the target company are currently undetermined. The company name, representative and treatment of employees are Not disclosed |
Items this document does not state (21)
Business Description of the Subject CompanyLocation of the Subject CompanyCapital Stock of the Subject CompanyDate of Establishment of the Subject CompanyNet Sales of the Subject CompanyOperating Profit of the Subject CompanyNet Income of the Subject CompanyNet Assets of the Subject CompanyAcquisition priceExpenses other than the acquisition priceMerger ratio/share exchange ratioTender offer periodVoting rights ownership percentageFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Execution Date / Effective DateValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.On 26 March 2026, tender offer agreements and agreements to tender shares were entered into with shareholder business partners and Mizuho Bank, Ltd. This update reflects their contents in the existing tender offer disclosure.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.