ITOCHU : Announces Acquisition of Shares in DOME Corporation, Exclusive Japanese Distributor of Under Armour Athletic Performance Brand
April 04, 2022 at 08:18 pm EDT
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ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that it has agreed to acquire a majority of issued shares in DOME Corporation (headquartered in Koto-ku, Tokyo; Shuichi Yasuda, Representative Director & CEO; hereinafter "DOME"), which is the exclusive Japanese distributor of Under Armour, Inc. (headquartered in Baltimore, USA; Patrik Frisk, President & CEO"; hereinafter "Under Armour"). DOME will be owned and managed by ITOCHU Corporation and Under Armour, an existing shareholder of DOME Corporation.
Founded in 1996, Under Armour is a leading inventor, marketer, and distributor of branded athletic performance apparel, footwear, and accessories. Designed to empower human performance, Under Armour's innovative products and experiences are engineered to make athletes better by delivering solutions they didn't know they needed and now can't imagine living without.
Under Armour began operations in Japan in 1998 when DOME became the brand's exclusive distributor, with the aim of making athletes better based on its business philosophy of enriching society through sports and creating social value.
ITOCHU has declared "realizing business transformation by shifting to a market-oriented perspective" as one of the basic policies in its Brand-new Deal 2023 medium-term management plan and has also positioned the expansion of the sports-related business under the Textile Company as one of its priority strategies. Going forward, ITOCHU will continue to identify changing trends in the world by looking closely from the customer perspective while leveraging its wide knowledge and extensive networks to further expand DOME's business and enhance its corporate value through distribution of Under Armour.
DOME Corporation
Headquarters
Ariake, Koto-ku, Tokyo, Japan
Representative
Shuichi Yasuda, CEO
Incorporated
May 8, 1996
Main Business
Manufacture and wholesale of sportswear
URL
http://www.domecorp.com/
Under Amour, Inc.
Headquarters
Baltimore, Maryland, U.S.
Representative
Patrik Frisk, President and CEO
Incorporated
September 25, 1996
Main Business
Manufacture and wholesale of sportswear
URL
https://about.underarmour.com/
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Itochu Corporation published this content on 05 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2022 00:17:06 UTC.
Itochu Corporation is a diversified group organized around 8 areas of activity:
- distribution of food products (34.9% of net sales): frozen food, vegetable oil, sweeteners, sugars, etc.;
- distribution of hydrocarbons (23.3%): hydrocarbons (natural gas, oil products, bioethanol, etc.). The group also develops manufacturing of chemical products activity;
- manufacturing and sale of industrial and construction machines, vehicles and ships (9.7%);
- production of metals and coal (8.5%);
- sale of consumer products (8.4%). The group also develops forest products sale and real estate development activities;
- distribution of computing and telecommunication equipments (7%): data transmission, Internet access, media content broadcasting and mobile telephony equipments. The group also offers financial services;
- sale of textile products (3.6%);
- other (4.6%).
Net sales are distributed geographically as follows: Japan (79.5%), Singapore (5.4%), the United States (4.5%), Australia (3.1%), China (2.8%) and other (4.7%).