Daniel J. Edelman, Inc. to purchase 21 per cent equity stake in Japan's PRAP
Daniel J. Edelman, Inc.
("DJE"), the parent company of Edelman, the world's largest independent communications
consultancy, and PRAP Japan, Inc. ("PRAP"), one of Japan's leading communications and
public relations companies listed on the Tokyo Stock Exchange, have announced a strategic
collaboration to support Japanese and global clients as they navigate the evolving
communications and stakeholder engagement needs. The collaboration is formalised through a Memorandum of Understanding (“MOU”).
As part of its commitment to the collaboration, DJE has entered into a purchase agreement with an existing shareholder to acquire a 21 percent equity stake in PRAP. Completion of the transaction remains subject to customary closing conditions and is expected to be completed before the end of the calendar year.
Richard Edelman, chief executive officer, Edelman, said, “Japan is the world’s fourth-largest economy and home to some of the most important companies in the world. I have long admired PRAP, its leadership and the reputation it has built over more than five decades. There is something special about bringing together two companies that share a belief in trust, long-term relationships and putting clients first. PRAP brings extraordinary knowledge of Japan; Edelman brings the global reach to help Japanese companies succeed around the world. Together, we have an opportunity to build something distinctive for our clients and our people, in Japan and globally. I look forward to beginning this next chapter together.”
Isao Suzuki, president and CEO of PRAP Japan Co., Ltd. stated, "I am very pleased that we have entered into a strategic collaboration with Edelman, the world’s largest independent communications consultancy. Through our discussions with Edelman’s management, I felt a strong affinity between PRAP’s value of “integrity” and Edelman’s emphasis on “trust,” as well as our shared commitment to clients and people. I also deeply resonate with Edelman’s approach of understanding and respecting the cultures, markets and ways of working in each country and region. Moving forward, by combining the insights and networks of both companies while preserving what makes PRAP unique, we aim to create new value for clients in Japan and around the world."
