Sun Frontier to Absorb Wholly Owned Leasing Subsidiary in April Merger
MT Newswires Live
Feb 17
Sun Frontier Fudousan (TYO:8934) is set to absorb its wholly owned subsidiary, Kawakami Seihon, through an absorption-type merger scheduled to take effect on April 1, according to a Tokyo bourse filing on Tuesday.
The merger is aimed at commercializing a building owned by the subsidiary as part of the parent company's replanning business.
As Sun Frontier is the surviving entity and the subsidiary will be dissolved, no new shares or cash payments will be issued as part of the transaction.
Because the merger involves a wholly owned subsidiary, it qualifies as both a simple merger and an abbreviated merger, allowing the company to forgo a shareholder vote.
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