Daniel J. Edelman, Inc. has agreed to buy every PRAP Japan share held by Cavendish Square Holding BV, the WPP Group holding company that is PRAP's largest shareholder. PRAP's board approved a capital and business alliance with Edelman on 1 October 2026, and the contract was signed the same day.
The block
Edelman will acquire 935,800 common shares at ¥1,358.64 each, a total of ¥1.27bn, in an off-market negotiated trade. The stake carries 21.03% of voting rights. Settlement is planned for 30 October. Edelman would then hold the shares as PRAP's largest shareholder and an "other affiliated company" of the listed group.
At the time of the announcement Edelman held no PRAP shares. Its capital, financial results and shareholder list were withheld at its request.
What the alliance covers
PRAP describes Edelman as an independent PR firm founded in 1952, with more than 60 offices and about 6,000 staff. The alliance centres on PR know-how combined with digital, marketing, management, creative, data-analysis and AI capabilities. PRAP lists three aims: stronger communications support for Japanese companies abroad, more chances for Edelman's global clients to buy services in Japan, and joint work focused on Asia.
Effect on PRAP
PRAP says the alliance will have a minor effect on its consolidated results. It expects the tie-up to lift corporate value over the medium to long term and has promised prompt disclosure if a material effect emerges. Those benefits are the company's own expectations, and the notice gives no financial targets for them.