Sun Frontier Fudousan (TYO:8934) is merging with its wholly owned subsidiary, UT Trading, effective April 1, according to its Tuesday filing.
This absorption-type merger involves UT Trading, which operates a real estate leasing business, and aims to commercialize buildings as part of the company's replanning efforts.
The merger does not require a general shareholders meeting for approval due to its classification as a simple and summary merger under the Companies Act.
No new shares will be issued, nor will any monetary transactions occur, as UT Trading will be dissolved in the process.
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