Japan's Sumitomo to spend $5.9 billion to buy IT firm SCSK

Sumitomo

29/10/2025 09:28

TOKYO, Oct 29 (Reuters) - Japan's Sumitomo Corp 8053.T said on Wednesday it would spend  about 881.7 billion yen ($5.85 billion) to turn SCSK 9719.T, an IT service company, into a wholly owned subsidiary.

The Japanese trading house will launch a tender offer on Thursday for 5,700 yen apiece, representing a 32% premium over SCSK's closing share price on Wednesday.

Sumitomo already owns a 50.49% stake in SCSK, according to LSEG data.

($1 = 150.7800 yen)

 (Reporting by Satoshi Sugiyama
Editing by Chang-Ran Kim)

 ((Satoshi.Sugiyama@thomsonreuters.com;))