NISSEI PLASTIC INDUSTRIAL CO., LTD. (“Nissei”) and TOYO INNOVEX Co., Ltd. 1 (“TOYO”) have agreed to establish GMS Group Co., Ltd. (the “Joint Holding Company”) as the Companies' wholly-owning parent company through a joint share transfer with the effective date scheduled for April 1, 2026 and to implement a business integration of the Companies, and pursuant to resolutions passed at their respective board of directors held in November. Companies have entered into a Business Integration Agreement based on the principle of equality and have jointly prepared a share transfer plan.
Through extensive discussions, the Companies reached a shared understanding that relying solely on traditional approaches imposes limits on growth and long-term viability within the current challenging business environment. Furthermore, they determined that this Business Integration would enable initiatives that could not be achieved individually. Accordingly, the Business Integration is expected to maximize the value of the Companies, benefiting stakeholders including customers, employees, and shareholders.
The implementation of the Business Integration and the Share Transfer is subject to r necessary permits and approvals from relevant authorities.
