ST Corp. (TYO:4951) will absorb its logistics subsidiary, ST Business Support, on July 1 to streamline operations and improve productivity, according to a Wednesday filing on the Tokyo Stock Exchange.
The simplified merger requires no shareholder approval and involves no share issuance or cash payout.
The unit, fully owned by ST Corp, posted 1 billion yen in sales and 29 million yen in profit for the year ended March.
Price (JPY): $1443.00, Change: $+1.0, Percent Change: +0.07%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.