Itochu’s Consolidates wholesale Food Operations
Itochu Corporation’s decision to absorb Itochu Shokuhin for 78.4 billion JPY is less a family reunion than a bet on control in a squeezed wholesale market. By lifting its stake from 52.46% to 100% through a tender offer at 13,000 JPY per share, Itochu is trading stock-market scrutiny for speed. Once delisted, Itochu Shokuhin can…