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Umios to Absorb Aquaculture, Processed Foods Businesses from Taiyo A&F

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Japanese seafood company Umios (TYO:1333) plans to carry out an absorption-type company split under which it will absorb the aquaculture and processed foods businesses of its wholly-owned subsidiary Taiyo A&F, according to a Monday filing with the Tokyo Exchange.

The move is aimed at strengthening Umios Corporation's product portfolio, improving operational efficiency, and combining aquaculture expertise to boost production, the filing said.

The company split is expected to be carried out on Oct. 1, it said.

Shares of Umios Corporation added nearly 1% in recent trade.

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