Enhancing the agility of group management by making トラストバンク a wholly owned subsidiary
First written in FY2020-Q3. 1 of 2 entries say "Achieved", first in FY2020. Latest entry: FY2020.
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- FY2020AchievedAnnual report
「The share exchange was carried out with an effective date of 8 October 2020 after the share exchange agreement was approved by resolutions at the respective shareholders’ meetings of the company and 株式会社トラストバンク.」
The planned share exchange was carried out on 8 October 2020, completing the process of making 株式会社トラストバンク a wholly owned subsidiary. - FY2020-Q3First statedAnnual report
「At a meeting of its Board of Directors held on 12 August 2020, the company resolved to conduct a share exchange with its consolidated subsidiary 株式会社トラストバンク, under which the company would be the wholly owning parent company and 株式会社トラストバンク the wholly owned subsidiary, and the two companies entered into a share exchange agreement on the same day. Subject to approval of the agreement by resolutions at the respective shareholders’ meetings of the company and 株式会社トラストバンク, the share exchange was scheduled to take effect on 8 October 2020. In this context, the company believes that making 株式会社トラストバンク a wholly owned subsidiary will further improve the agility and flexibility of the Group’s management structure and enable sustainable business growth and enhancement of corporate value through the use of management resources across the Group.」
The company has for the first time described a plan to make 株式会社トラストバンク a wholly owned subsidiary through a share exchange. It stated that the effective date would be 8 October 2020, that 992,365 common shares were scheduled to be issued, and that the share exchange ratio would be 1:6,361.32, with the aim of improving the agility and flexibility of Group management and using management resources.