LY Corporation (JP:4689) has released an update.
LY Corporation has announced a strategic absorption-type merger with its wholly owned subsidiary, Z Lab Corporation, effective from October 1, 2024, which aims to enhance development efficiency and optimize management resources. The merger, which has been simplified due to Z Lab being a wholly owned subsidiary, will not require the approval from a General Meeting of Shareholders and will result in Z Lab’s dissolution. No share allotments will be made as a result of the merger, with LY Corporation remaining as the surviving entity.
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