Improving Management and Operating Efficiency and Enhancing Workforce Mobility through Absorption Mergers of Subsidiaries

「Following the mergers, the company is progressively standardising its personnel systems, and will integrate its retirement benefit plans effective 1 April 2022. As a result, the method used to calculate the retirement benefit obligation of the absorbed company, 日東製器株式会社, changed from the simplified method to the standard method. The liability related to retirement benefits at the end of the current third quarter of the consolidated fiscal year increased by ¥194 million, which was recorded as an equal amount of extraordinary loss under retirement benefit expenses.」

「In the container business, 北海製罐株式会社 absorbed 日東製器株式会社, while in the filling business, 株式会社日本キャンパック absorbed 株式会社西日本キャンパック. As a result, 日東製器株式会社 and 株式会社西日本キャンパック have been excluded from the scope of consolidation from the current second quarter of the consolidated fiscal year.」

「The mergers will be carried out to enhance group corporate value by improving management and operational efficiency through the standardisation and integration of organisational structures, chains of command and internal systems, and by revitalising the organisation through workforce mobility among the companies.」