Tokai Tokyo Financial : The notice update concerning “the Commencement of Discussion about Merger between our Consolidated Subsidiaries (Tokai Tokyo SEC and ACE SEC)
September 22, 2021 at 12:42 pm IST
Share
Press Release
6-2, NIHONBASHI 3-CHOME,CHUO-KU, TOKYO 103-0027 JAPAN
Note: This English translation is for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
We assume no responsibility for this translation or for direct, indirect or any other form of damage arising from the translation.
(TSE, NSE: 8616) September 22, 2021
The notice update concerning "the Commencement of Discussion about Merger between our Consolidated Subsidiaries (Tokai Tokyo Securities and ACE Securities)"
As we, Tokai Tokyo Financial Holdings, Inc. (hereinafter "the Company"), announced in our press release dated May 28, 2021, the discussion has been underway about an absorption merger (hereinafter "the Merger") between our wholly owned subsidiaries, Tokai Tokyo Securities Co., Ltd. (hereinafter "Tokai Tokyo Securities") and ACE Securities Co., Ltd. (hereinafter "ACE Securities"). In this reference, we now update you on the scheduled date of the merger as described below, and the Board of Directors Meeting of Tokai Tokyo Securities held today and the same of ACE Securities held on September 17, 2021 made resolutions respectively to approve such an update.
The update
We previously announced you that the planned date of the Merger between our wholly owned subsidiaries, Tokai Tokyo Securities and ACE Securities would be sometime during the first half of fiscal year 2022. We now advise you of the updated target date of the Merger as May 1, 2022.
The background for update
We, the Company, have been discussing tri-laterally as a group including ourselves, Tokai Tokyo Securities and ACE Securities about the Merger, and specifically at this time about the scheduled date of the Merger. We now set the target date as May 1, 2022 as a result of the deliberation on the issues such as system integration and other material preparatory processes.
(end)
Contact: +81-(0)3-3517-8618, Corporate Communications, Tokai Tokyo Financial Holdings, Inc.
Attachments
Original document
Permalink
Disclaimer
Tokai Tokyo Financial Holdings Inc. published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 07:11:04 UTC.
Tokai Tokyo Financial Holdings Inc is a Japan-based company primarily engaged in investment and financial service business. The Company is engaged in the purchase and sale of securities, the brokerage of securities, the underwriting, sale, public offering and private offering of securities, as well as other financial product transaction businesses and financial product-related businesses. The Company is also engaged in the provision of financing and fund management services for clients in overseas markets, including Asian, American and European financial markets.
Tokai Tokyo Financial : The notice update concerning “the Commencement of Discussion about Merger between our Consolidated Subsidiaries (Tokai Tokyo SEC and ACE SEC)
TOKAI TOKYO FINANCIAL HOLDINGS, INC. 
