Eliminating Duplicated Costs and Deploying Resources Overseas Through the Absorption Merger of 東京精工 and ティービーアール
First written in FY2024-Q2. 1 of 2 entries say "Achieved", first in FY2024-Q3. Latest entry: FY2024-Q3.
3 other companies' latest entry also says "Achieved".
- FY2024-Q3AchievedAnnual report
「At a meeting of the Board of Directors held on 26 September 2023, the Company resolved to absorb its consolidated subsidiaries 東京精工株式会社 and ティービーアール株式会社, and completed the absorption-type merger effective 1 January 2024. Through the merger of 東京精工株式会社 and ティービーアール株式会社, the Company will reduce costs and strengthen profitability by eliminating duplicate costs and consolidating management resources. It will also allocate human resources and other resources to overseas sites, which are sources of future growth.」
The absorption merger of 東京精工 and ティービーアール was completed effective 1 January 2024. The objectives are to eliminate duplicate costs, consolidate management resources, reduce costs, strengthen profitability and allocate human resources to overseas sites. - FY2024-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 26 September 2023, the Company resolved to conduct an absorption-type merger, effective 1 January 2024 (scheduled), in which the Company would be the surviving company and its wholly owned special subsidiaries 東京精工株式会社 and ティービーアール株式会社 would be the absorbed companies. The Company entered into the merger agreement on the same date. Through the merger of 東京精工株式会社 and ティービーアール株式会社, the Company will reduce costs and strengthen profitability by eliminating duplicate costs and consolidating management resources. It will also allocate human resources and other resources to overseas sites, which are sources of future growth.」
The Company first disclosed its plan to absorb its wholly owned subsidiaries 東京精工 and ティービーアール, with 1 January 2024 scheduled as the effective date. The objectives are to eliminate duplicate costs, consolidate management resources, reduce costs, strengthen profitability and allocate human resources and other resources to overseas sites.