At a meeting held today, the Adastria Co., Ltd. ("Company") Board of Directors resolved to transfer production business, data system solutions business, and businesses related to each of these businesses to consolidated subsidiary and ST Co., Ltd. ("and ST") through an absorption-type company split ("Company Split"), effective December 1, 2024 (tentative). The Company entered into an absorption-type company split agreement ("Agreement") with and ST today.
As the Company Split is a simplified, short-form merger with a wholly owned subsidiary, the Company has omitted certain disclosures.
* Details of the above release can be viewed in PDF file.
Notice Concerning of Company Split (Absorption-Type Company Split) With a Consolidated Subsidiary