TOKYO -- Snack maker Morinaga & Co. and Morinaga Milk Industry will integrate around April 2018, teaming up to bolster research and development operations and share sales channels abroad, The Nikkei learned Thursday.
The Japanese companies, which share a common origin but split decades ago, are expected to move under a new holding company. Morinaga Milk President Michio Miyahara is eyed as chairman of the holding company, while Toru Arai, his counterpart at Morinaga & Co., is likely to become president. A corporate name will be chosen and details of a share transfer set at a later date.