Melco Holdings Inc. (TSE:6676) announced the spin off of Shimadaya Corporation on January 23, 2023. As per the announcement, the Board of Directors resolved to distribute all of the shares of Shimadaya Corporation to shareholders through dividends in kind and to start preparations for listing the shares of Shimadaya. The shares of Shimadaya will be listed on the stock exchange of Tokyo Stock Exchange, Inc. As a result of the Spin-off, Shimadaya will no longer be a consolidated subsidiary of Melco Holdings, and will become an independent listed company.

The Spin-off is subject to receiving listing approval from the Tokyo Stock Exchange and other conditions.