Toyota Tsusho (TYO:8015) said it will transfer its food and agribusiness in the lifestyle division to its wholly owned subsidiary Toyota Tsusho Foods Corporation, effective April 1, 2027, according to a Tokyo Stock Exchange filing on Thursday.
The Tokyo-listed company said that the split is aimed at consolidating the food business into TTFC and improving operational efficiency and expanding the trading area.
Under the absorption-type company split, TTFC will succeed assets, liabilities, and contractual positions related to the food business, while no shares will be allotted and no other consideration will be delivered.
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