On February 25, Itochu Corporation announced its plan to fully acquire its consolidated subsidiary, Itochu Foods, via a stock purchase offer (TOB) worth approximately 78.4 billion yen. The company currently holds 52.46% of the shares, roughly 6.65 million shares, and aims to purchase the remaining shares to consolidate its ownership. The TOB will take place from February 26 to April 9, with a proposed price of 13,000 yen per share, after which Itochu Foods is expected to be delisted from the Tokyo Stock Exchange Prime.

The move comes in response to the challenges faced by the food industry, particularly the rising logistics costs that have been affecting profitability. Itochu's strategy is to streamline operations by managing Itochu Foods more closely within the company group, thereby improving overall efficiency. This acquisition is seen as a strategic step to optimize resource management and maintain competitiveness within the sector.

Itochu has positioned itself as a key player in the food wholesale industry, and this full acquisition could have significant implications for its business model. By consolidating its subsidiary, Itochu may be able to navigate the logistical challenges more effectively and potentially expand its market reach in an increasingly competitive landscape. The financial commitment underscores Itochu's confidence in the long-term prospects of the food sector, even as it grapples with current industry pressures.