![](https://cdn.benzinga.com/files/imagecache/2048x1536xUP/images/story/2012/aaconsumerv3_2749.png)
- Trading house Itochu has agreed to acquire a majority stake in Under Armour Inc’s (NYSE:UAA) Japanese distributor, Dome, Nikkei Asia reported.
- Itochu is expected to own about 70% of Dome after completing the transactions, leaving Under Armour with a 30% stake.
- The report noted that Itochu and Under Armour are expected to manage the business in Japan together.
- Itochu is the top shareholder in Japanese sportswear maker Descente.
- Price Action: UAA shares are trading higher by 2.21% at $17.14 on the last check Monday.