Sega Sammy Holdings Inc. announced on Tuesday that it is merging its Sega Games Co., Ltd. and Sega Interactive Co, Ltd. companies with an effective date of April 1 for the merger. Sega Games Co., Ltd will be the surviving company, but under the new name Sega Corporation. Sega Sammy Holdings Inc. will not be issuing new shares for the merger as the merger is an absorption merger between two wholly owned subsidiaries of Sega Sammy Holdings Inc.
Sega Games Co., Ltd. was established in June 1960, and Sega Interactive Co., Ltd. was established in April 2015. Sega Games Co., Ltd. handles planning, development, and sales of games for consoles, PCs, and smartphone devices. Sega Interactive Co., Ltd handles development and sales of amusement machines.
Sega Holdings Co., Ltd. will also change its name on April 1 to Sega Group Corporation.
Haruki Satomi will serve as President and CEO of Sega Group Corporation, as well as Chairman and CEO of Sega Corporation.
Sega Sammy Holdings Inc. stated that it is reorganizing the company “with the aim of expanding corporate value over the medium to long term.”