-- Nextage (TYO:3186) said it will split its vehicle dealership businesses into four wholly owned subsidiaries as part of a restructuring aimed at improving operational efficiency, according to a Wednesday filing on the Tokyo Stock Exchange.
The company plans to transfer its Volvo business to ett, Jaguar Land Rover and BYD operations to Shin, Maserati operations to Fiorente, and its Auto Stage business to ism through a simplified absorption-type company split effective June 1.
The move is intended to clarify responsibilities across business units, accelerate decision-making and enhance flexibility in responding to market changes, the company said.