Worth reading
57In focus
Scored from 4 of 5 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
4768910
SharesWording
Conditional
How definitive the wording is.This transaction
This tender offerDisclosing companyITOCHU Corporation
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
Date of board resolution25 February 2026
Consideration and expenses
Type of ConsiderationCash
Tender offer price¥13,000 per common share
Minimum number of shares to be purchased1,801,900 shares
Tender offer periodFrom 26 February 2026 to 9 April 2026 (30 business days)
Procedures and assumptions
Management structure after acquisitionA squeeze-out procedure is planned to make the tender offerors the sole shareholders of the target company. The target company's shares are expected to be delisted. The company name, representative, and treatment of employees: not disclosed
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Name of the Subject Company | 伊藤忠食品株式会社 |
| Type of Consideration | Cash |
| Tender offer price | ¥13,000 per common share |
| Minimum number of shares to be purchased | 1,801,900 shares |
| Tender offer period | From 26 February 2026 to 9 April 2026 (30 business days) |
| Number of shares acquired | 4,768,910 shares; 47,689 voting rights |
| Voting rights ownership percentage | Before 0% (the offeror) → after 37.59% (tender offeror) |
| Date of board resolution | 25 February 2026 |
| Management structure after acquisition | A squeeze-out procedure is planned to make the tender offerors the sole shareholders of the target company. The target company's shares are expected to be delisted. The company name, representative, and treatment of employees: not disclosed |
Items this document does not state (22)
Counterparty nameBusiness 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 ratioFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Impact on Business PerformanceContract DateExecution 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.Following the results of the tender offer, a squeeze-out procedure is planned to make the tender offerors the sole shareholders of ITOCHU-SHOKUHIN. The company states that there are no changes to the policy and other matters following the tender offer as described in the commencement materials announced on 25 February 2026.
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.