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Pachinko operator Okura merges two key subsidiaries

Monday, 05 February 2018 06:58
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Japanese pachinko operator Okura Holdings Ltd has announced a merger of two key subsidiaries as part of an internal restructuring aimed at streamlining operations. The merger sees Okura Kyushu dissolved into Okura Japan in order to comply with local laws, which state that any machines certified by the Prefectural Public Safety Commission of Japan can only be transferred to different pachinko halls owned by the same company if done so within the same prefecture.

In a filing to the Hong Kong Stock Exchange, Okura said an absorption-type merger had been carried out “for the purpose of streamlining the group’s operations, as well as achieving a more flexible deployment of its pachinko machines and other assets across the pachinko halls operated by the group.

“Upon completion of the merger on 1 January 2018, Okura Japan survives and remains a wholly-owned subsidiary of the company while Okura Kyushu was absorbed and dissolved,” the company continued.

As of 30 June 2017, Okura Japan held assets of ¥15.2 billion (US$137.8 million) and Okura Kyushu held assets of ¥3.1 billion (US$28.1 million).

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