Taiyo Nippon Sanso (TNSC) will transfer to have a holding company system from 1st October, the Gas Review reports.
At present, TNSC controls three regions (US, Europe and Asia/Oceania) from its headquarters in Japan, but will adopt and go to a system of holding company, under which the industrial gas and Thermos businesses will be positioned for control by each of the four regional business units at home and abroad.
This is so responsibility of each regional business can be made clear and decisions may be made more quickly.
The company will be renamed Nippon Sanso Holdings. Both names in Japanese and English are headed by ‘Nippon’.
In preparation for the transfer to the holdings system, a split promoting company fully affiliated by TNSC will be established, represented by President Ichihara of TNSC.
The assets and liabilities of the domestic gas business, excluding Thermos business, now owned by TNSC will be split into the split promoting company.
Under the holding company, there will also be the following groups: Matheson Tri-Gas Group engaged in the US gas business, Nippon Gases Group engaged in the European Gas business, Asia/Oceania Regional Group engaged in the Asian/Oceanian gas business and Thermos Business Group consisting of five companies.
According to TNSC’s plan, the split promoting company was founded on 4th February (2020).
With regards to the listing on the Tokyo Stock Exchange, the holding company will succeed and maintain it.
The Gas Review, issue no. 479