SEATTLE--(BUSINESS WIRE)--Acucela Inc. (located in Seattle, Washington, U.S.A.; the “Company”) (TOKYO:4589), a clinical stage ophthalmology company that specializes in identifying and developing novel therapeutics to treat and slow the progression of sight-threatening ophthalmic diseases, has unanimously resolved at its board of directors meeting held on March 28, 2016 (Pacific Daylight Time) to (i) convert Acucela Japan Kabushiki Kaisha (the “Japan Holding Company”), which was established as a Japanese subsidiary of the Company in December 2015, into a holding company that controls Acucela North America Inc. (the “U.S. Subsidiary”), which will succeed to the business of the Company, in order to relocate the head office functions of the Company to Japan, by conducting a triangular merger (the “Triangular Merger”) whereby one share of common stock of the Japan Holding Company will be distributed in exchange for each share of common stock of the Company, and (ii) apply for listing of shares of common stock of the Japan Holding Company on the Tokyo Stock Exchange (the “TSE”).
