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Yokogawa Bridge to Merge Three Subsidiaries; Shares Down 3%

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Yokogawa Bridge (TYO:5911) plans to carry out an absorption-type merger, which will see subsidiary Kyokuto Kowa absorbing two other subsidiaries, Br. Holdings Corp. and Kyokuto Takamiya, according to a Monday filing with the Tokyo Stock Exchange.

The company also approved the acquisition of all shares in Higashi Nihon Concrete through an in-kind dividend from Kyokuto Kowa, making Higashi Nihon a direct subsidiary, the filing said.

The merger is expected to be carried out on Oct. 1.

Shares of Yokogawa Bridge fell over 3% in recent trade.

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Yokogawa Bridge to Merge Three Subsidiaries; Shares Down 3% | FINWIRES