At a Board of Directors meeting held today, Rakuten, Inc. (Chairman and CEO: Hiroshi Mikitani, hereinafter “the Company”) resolved to merge Voyagin Inc., a wholly owned subsidiary of VOYAGIN PTE. LTD., a wholly owned subsidiary of the Company into the Company effective July 1, 2020, as outlined below. VOYAGIN PTE. LTD. shall be dissolved after the merger is completed. Since this merger is an absorption-type merger of a wholly-owned subsidiary of VOYAGIN PTE. LTD., a wholly owned subsidiary of the Company, the disclosure of certain items and details has been omitted.
1. Purpose of merger
The company decided on the merger to increase operational efficiencies and to improve the quality of its services.
2. Summary of merger
Merger resolution by the Board of Directors April 24, 2020
Merger contract date April 24, 2020
Expected merger date (effective date) July 1, 2020
(Note 1) According to simplified merger rules in Company Law article 796 clause 2, the Company is proceeding with the merger without receiving approval at the Annual General Shareholders Meeting.
(Note 2) According to short form merger rules in Company Law article 784 clause 1, Voyagin Inc. is proceeding with the merger without receiving approval at the Annual General Shareholders Meeting.
(2) Merger method
The Company shall be the surviving company under absorption-type merger, and Voyagin Inc. shall be dissolved.