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Lawson,Inc. Announces Business Transfer between Subsidiary and Sub-subsidiary; to Merge with Subsidiary and Waive Debts

Thursday, 14 Nov 2013 02:00am EST 

Lawson,Inc. announced that it will spin off store operation and instruction business as well as product related business of a wholly owned subsidiary Ninety-nine Plus Inc., into a Tokyo-based company, which is a wholly owned subsidiary of Ninety-nine Plus, effective February 1, 2014. After the transaction, the Company will merge with Ninety-nine Plus and waive part of debts for Ninety-nine Plus, effective February 1, 2014. As a result, Ninety-nine Plus will be dissolved.