Nomura Research Institute (TYO:4307) said its board approved an absorption-type merger with wholly-owned subsidiary NRI Social Information System Services, with the parent company as the surviving entity, according to a Thursday filing on the Tokyo Stock Exchange.
The merger agreement was signed on March 12 and is expected to take effect on May 1.
As the transaction involves a wholly owned subsidiary, no shares or cash will be issued. The move aims to consolidate resources, speed decision-making and strengthen the group's digital and social solution businesses.