Descente Transferring Japanese Business to New Company

Descente Ltd. will transfer its Japanese business to Descente Japan, which is scheduled to be founded this month.

As part of reorganization of the group, Descente will function as the head office from April 1st, 2017, and Descente Japan will be responsible for business in Japan.
Descente will be a split company (absorption-type split), and its business in Japan will be succeeded by wholly owned Descente Japan.

The new company will be set up on September 12th with a capital of 90 million yen. The absorption-type split organization is expected to be approved at an extraordinary general meeting of shareholders next February and come into effect on April 1st.

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