Dentsu Soken said its board supports a tender offer from VIC LLC, an entity established by Itochu Corporation (8001.T), and recommends that shareholders tender their shares at ¥2,880 each. The offer is expected to require approximately ¥215.1 billion, or about $1.3 billion, and is scheduled to begin in early November 2026 for 20 business days, subject to competition-law approvals in Japan and overseas. VIC will seek at least 9,340,400 shares, equivalent to 38.22% of issued shares, with no upper limit. Dentsu Group (4324.T), which owns 61.78%, will not tender and plans to retain that ownership ratio. Completion would delist Dentsu Soken and create a private joint venture between Dentsu Group and Itochu Group. The transaction is intended to resolve the parent-subsidiary dual listing and strengthen digital and IT-services businesses through cooperation with Itochu and Itochu Techno-Solutions, or CTC. A 5.15% premium over the Aug. 27 closing price and the minimum tender threshold will be closely watched by minority shareholders.