Koei, Tecmo Merger Official
11.18.08 - 12:04 PM
Koei and Tecmo today officially announced plans to go ahead with their previously proposed merger. Provided shareholders of both Koei and Tecmo approve of the proposed tie-up, a joint holding company named Koei Tecmo Holdings will be established on April 1st 2009.
The new company headquarters will be Koei's current headquarters in Yokohama. Koei Tecmo Holdings will be led by president Kenji Matsubara (Koei's current president) and chairman Yasuharu Kakihara (current president and chairman of Tecmo).
For the 2011 fiscal year, Koei Tecmo Holdings is aiming for a net profit of more than 21 billion yen ($217.11 million USD) on sales of more than 70 billion yen ($723.71 million USD). One Koei share will be traded in for 0.9 Tecmo shares to consummate the merger.