Serendip Holdings resolved to merge its consolidated subsidiaries and announced a plan under which Serendip Automotive will be the surviving company, while Mitsuiya Kogyo and Excel will be the non-surviving companies. Full integration is targeted for April 2027.
Serendip Holdings announced that it had resolved to conduct an absorption-type merger between its consolidated subsidiaries. Serendip Automotive will be the surviving company, while Mitsuiya Kogyo and Excel will be the non-surviving companies.
The purpose of the merger is to integrate technology, production and development functions centered on resin molding, accelerate decision-making and optimize the allocation of management resources. The company aims to strengthen its organizational capabilities by integrating human resources and administrative functions, thereby accelerating growth in the automotive parts business through roll-up M&A.
Full integration is planned for April 2027. Integrated management will be advanced under a four-division structure comprising the Business, Engineering, Corporate and Manufacturing divisions. No new shares will be issued and no cash consideration will be paid as part of the allocation.