Ichinen Holdings (TYO:9619) will merge its consolidated subsidiary Ichinen Co. with sub-subsidiary Nomura Auto Leasing, aiming to streamline operations and strengthen its automobile leasing segment, according to a Tuesday filing on the Tokyo Stock Exchange.

Under the plan approved on April 8, Ichinen will absorb Nomura Auto Leasing, which will be dissolved. The effective date is set for Dec. 1.

Both companies, based in Osaka, focus on auto leasing. Ichinen also provides vehicle maintenance, sales, fuel supply, and repair management services.

The merger is expected to integrate sales capabilities and human resources, improving efficiency and enhancing customer responsiveness.

No new shares or consideration will be issued as the merger involves wholly owned units.

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