Apparel maker Gunze Ltd. said Tuesday it will liquidate its sales arm, Gunze Sales Inc., on March 31 as part of organizational changes at the parent firm.
Gunze said the operations of Gunze Sales, owned 97 percent by the parent firm, will be handed over to two departments to be set up at the parent firm, Men's & Kids Co. and Ladies' & Leg Co.
The two new departments will be divisions of Gunze but will function as if they are independent companies, the company said.
Gunze Sales' employees will be transferred to Gunze, it said.