Sumitomo Corp. Plans $5.8 Billion SCSK Takeover in AI Bet (3)

Sumitomo Corp., one of Japan’s top trading houses, offered to make systems development firm SCSK Corp. a wholly owned subsidiary for 881 billion yen ($5.8 billion) amid a group-wide push to integrate AI across its businesses.

Sumitomo, which owns about 50.5% of SCSK, will launch a tender to buy the rest of the company for 5,700 yen per share, according to a filing on Wednesday. That is a roughly a 34% premium to the closing price on Tuesday. SCSK will be delisted from the stock exchange.

The goal is to enable faster strategic decision-making, as generative AI drives growing ...