The European Commission has cleared Dentsu Group and Itochu’s acquisition of joint control over Dentsu Soken, finding no competition concerns in the European Economic Area. The transaction centres on enterprise services and software, with the target’s limited European activity central to the assessment, according to The Brussels Times.
The case, M.12635, appears in the Commission’s public competition register with a decision dated 15 October 2026 and a simplified-procedure designation.
A change from sole control to joint control
The earlier Official Journal notification describes Dentsu Soken as previously ultimately controlled solely by Dentsu Group. Itochu and Dentsu would acquire joint control of the business through a public bid announced on 31 August.
Joint control is therefore the relevant ownership change. Describing the transaction simply as Dentsu buying an unrelated software company would obscure the existing relationship between Dentsu Group and Dentsu Soken.
The notification identifies Dentsu Soken’s activities as IT services and consulting, including systems integration, software development, business-process outsourcing and digital-transformation work, principally in Japan. Itochu operates across trading and investment sectors, while Dentsu Group is active in advertising and communications.
The decision addresses European competition
The Commission’s reasoning, as reported, relies on negligible target activity in the EEA and a limited combined market position. The EEA comprises the EU alongside Iceland, Liechtenstein and Norway.
Simplified review is a streamlined route for transactions considered unlikely to raise competition problems. Its use does not mean the companies are exempt from merger rules, or that the transaction has received a blanket endorsement across every regulatory issue and jurisdiction.
The distinction is particularly relevant for an acquisition involving Japanese businesses: EU review examines the transaction’s implications within the scope of European merger control. It is not a general assessment of the commercial merits of the deal or a guarantee about outcomes for every customer.
The clearance removes the European merger-control obstacle identified in this case. Any conclusion about completion of the transaction, financing or other approvals would require separate confirmation from the parties or the relevant authorities.
