Brief: Kawai Musical Instruments Manufacturing plans merger with units
28/03/2017 07:34
March 28 (Reuters) - Kawai Musical Instruments Manufacturing
Co Ltd 7952.T :
* Says co plans merger of musical instruments units with two
phases
* Says, as phase one, co's Shizuoka-based 55 percent owned
unit plans to merge with co's 85.7 percent owned unit Diapason
via stock swap, and unit Diapason will be dissolved after
transaction
* One share of unit Diapason's stock will be exchanged with
455.74 shares of co's Shizuoka-based 55 percent owned unit's
stock, and 546,888 shares of Nippon co's Shizuoka-based 55
percent owned unit's stock will be exchanged
* As phase two, the company will merge the surviving unit
after phase one merger, and the surviving unit will be dissolved
after transaction
* Restructures will be effective on June 1
Source text in Japanese: https://goo.gl/jmSq2H
Further company coverage: 7952.T
(Beijing Headline News)
((Beijing.HeadlineNews@thomsonreuters.com; +86 62674724;
Reuters Messaging: Cheng.Li@thomsonreuters.com@reuters.net))