Songwon Industrial Co Ltd <004430.KS> : Says its unit Songwon Internation AG will merge with wholly owned subsidiary Songwon Holdings AG, an investment company, to improve management efficiency . Says merger ratio is 1:0 between Songwon Internation AG and Songwon Holdings AG, Songwon Internation AG will survive and Songwon Holdings AG will be dissolved after the merger .Says merger effective date is Dec. 5 and expected registered date is Dec. 9.
Zhejiang Jiangshan Chemical Co., Ltd.<002061.SZ>: Says it plans to merge the business of its wholly owned chemical industrial unit .Says the unit to be dissolved due to continued loss.
Toyota Tsusho to transfer domestic insurance agent business to TOYOTA TSUSHO INSURANCE PARTNERS CORPORATION
Toyota Tsusho Corp <8015.T>:Says it plans to transfer its entire domestic insurance agent business to wholly owned unit TOYOTA TSUSHO INSURANCE PARTNERS CORPORATION on July 1, 2017.
Toyota Tsusho plans to merge two units Tomen Electronics, Toyota Tsusho Electronics - Nikkei<8015.T>
Nikkei: Toyota Tsusho plans to merge two wholly owned units Tomen Electronics and Toyota Tsusho Electronics - Nikkei . New company sees annual sales of around 460 billion yen, based on figures for the year ended in March - Nikkei .Merging two semiconductor trading houses will conclude major restructuring - Nikkei.
Corning Inc : Increasing cash we expect to distribute to shareholders to more than $12.5 billion .See continuing moderate sequential lcd glass-price declines, ongoing benefit from new hedges added to reduce exposure to weaker yen.
Ashland Inc:Provided an update on the previously announced plan to separate Ashland into two independent, publicly traded companies.That the separation process and timeline remain on track; the preparatory work for separation, including carve-out audit and creation of standalone operating entities, is proceeding on expected timetable.Expects to file a registration statement for the common stock of Valvoline with the Securities and Exchange Commission in mid-calendar year 2016.
Mitsubishi Chemical Holdings Corp:To take over all rights and obligations in existing corporation bonds management business in its units Mitsubishi Chemical Corporation and Mitsubishi Plastics, Inc., effective on March 28.
Mitsubishi Chemical Holdings Corp:Says Mitsubishi Chemical Corporation, Mitsubishi Plastics, Inc. and Mitsubishi Rayon Co., Ltd. to merge together and become one company.Mitsubishi Rayon Co., Ltd. to be survival company.Planned April 1, 2017.
BASF SE:Is reorganizing its paper, water, oilfield and mining businesses.Is combining Water Solutions and Paper Chemicals to form new global business unit “Paper & Water.”.Oilfield & Mining Solutions” will operate as global business unit.Both global business units will be headquartered in Ludwigshafen, Germany.Changes will be effective as of Jan. 1, 2016.Expects overall a reduction of about 120 positions worldwide until end of 2016 resulting from alignment and refocussing of business structures.
Toyota Tsusho Corp:To transfer part of metal business to two Nagoya-based subsidiaries TTH and TMI, effective April 1, 2016.