Kikkoman Corp. has today (27 April) had its plans to switch to a holding company system from October approved.

The Japanese soy sauce maker announced the plans earlier this year and said that the move would enable it to maximise the corporate value of its group operations.

The company plans to move to a holding company structure as of 1 October with the transition taking place through several newly established spin-offs.

Kikkoman’s food manufacturing and sales will be transferred to operating company Kikkoman Food Products Company, its beverage sales business will transfer to Kikkoman Beverage Company, and its general affairs, personnel, accounting, information systems, and other back-end operations will transfer to Kikkoman Business Service Company.

The Tokyo-based company said the new structure will support its growth strategy going forward.