Sofia Holdings <6942> announced that at the board of directors meeting on the 24th, the company's consolidated subsidiary Sofia Comprehensive Research Institute resolved to merge and absorb Sofia Tech, its subsidiary, and will come into effect on October 1, 2024 (scheduled).

The absorption merger method will retain Sofia Comprehensive Research Institute as the surviving company and dissolve Sofia Tech. As the dissolved company is a 100% subsidiary of Sofia Comprehensive Research Institute, there will be no changes in the surviving company's name, location, representative, business content, or capital stock after the merger. It also states that there will be no impact on the company's consolidated performance.

Sofia Holdings is considering and discussing the restructuring of its internet-related business, one of the group's main segments, and will focus on and strengthen existing businesses in the main segments through selection and concentration, as well as explore and invest in new businesses to aim for medium- and long-term corporate value enhancement. The purpose of the merger is to be part of these initiatives.