LY (TYO:4689) will absorb its wholly owned subsidiary, Z Financial Corp., in a simplified merger effective Aug. 1, according to its filing on May 16.
The decision was formalized at a LY's board of directors meeting on the same day of filing.
This merger aims to optimize the resources of the LY group. As Z Financial, is a wholly owned subsidiary, no shares or money will be allotted through the merger.
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