Rix Corporation's subsidiary merges sub-subsidiary to streamline operations

Rix Corporation (TSE:7525) disclosed that its board approved the merger of its subsidiary Rix Techno with its sub-subsidiary CEM. Rix Techno, specializing in manufacturing and maintenance of automotive parts and industrial machinery, will absorb CEM, which focuses on control systems and software development for industrial machinery. The merger aims to streamline operations, improve responsiveness to customer needs, and enhance management efficiency. The merger will be executed via an absorption-type merger, with Rix Techno continuing as the surviving entity and CEM ceasing to exist. As CEM is wholly owned by Rix Techno, no share allocation or other consideration will be provided. The company stated that the merger is not expected to have a material impact on its consolidated financial results.