TOKYO, May 18 (Pulse News Wire) – Marche Corporation (7524.T) announced today that its board of directors has approved plans to appoint Atsushi Morishita as chairman, pending approval of a third-party capital increase at an upcoming shareholders' meeting. Following the capital increase, Tempo Holdings Co., Ltd.
Is expected to become Maru Che's parent company. Morishita, born on February 13, 1947, currently serves as president of Tempo Holdings and will continue to hold this position alongside his role as chairman of Maru Che. His appointment is aimed at enhancing cooperation and strengthening management through shared resources, purchasing power, and talent development within the Tempo Group.
In addition, Maru Che will maintain its independence as an independent public company. Key decisions will be made based on laws and regulations, ensuring thorough deliberation by the board. An external director and two independent audit committee members will oversee operations, with ongoing quarterly reports to the board on transactions with Tempo Holdings.
Any transaction exceeding the annual limit of ¥1.5 billion will require additional board approval.
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