CJ conducted business restructuring by merging affiliated firms.
CJ announced on April 9 that CJ Morningwell Inc., one of its affiliated firms, which produces frozen food, was merged into CJ. CJ also divided CJ Entertainment Inc., a holding company in the entertainment and media industry, into a business division and a holding company, which was absorbed into CJ.
CJ expects to have strengthened business competitiveness of processed and instant food with the merged organization and manpower of CJ Morningwell, which has been operated mainly as a manufacturing business.
In addition, previous CJ Entertainment was divided into a holding company and new CJ Entertainment. The holding company is merged into CJ, and CJ Entertainment will be able to focus on the movie industry and the distribution business.
With these decisions, CJ can support the entertainment and media business, which requires large-scale investments as a promising industry of 21st century, more actively than before. Furthermore, active investments on the business of affiliated firms such as CJ Entertainment and CJ Media were made possible.