Companies to Merge on March 1, 2006
While the deed is not yet done, the respective boards of directors of Tomy
have agreed to merge and have signed an agreement to merge.
All that remains is for the shareholders of each company to aprove the merger in special general meetings that will take place on September 6.
With the shareholder's aproval. Tomy
will will implement a one-for-two stock split on September 30 and will issue 0.356 Tomy
shares for each Takara
share. The official merger will take place on March 1, 2006.
The new company will be known as Kabushiki Kaisha Takara
TOMY or simply TOMY COMPANY, LTD
is currently the second largest toymaker in Japan and Takara
the third. Their combined sales will still only make them the second largest toy maker in Japan, behind Bandai, which has more sales than the two companies combined. Furthermore, Bandai itself is set to merge with Namco
A full press release was issued by Tomy
, an English translation of which can be read here