Asia
CK San-Etsu Unit to Absorb Subsidiary in Efficiency Drive
CK San-Etsu (TYO:5757) said its unit MITANI SHINDO will absorb wholly owned subsidiary SHIN KITAMI to streamline operations and improve efficiency, according to a Tuesday filing on the Tokyo Stock Exchange.The merger, scheduled to take effect Aug. 1, will consolidate overlapping operations at the two companies, which share the same location and workforce.No shares or consideration will be issued as part of the transaction, and there will be no changes to the surviving entity's structure.
TYO:5757
