>>79272000Depends on whether they do a soft merge or a hard merge. Hard merge is Riku announcing the wind-down of the branch, everyone formally graduating at once, and anyone who wants to stay being rolled into JP.
Soft merge would be winding the branch down quietly with no announcement. All resources would be cut off and they'd report to some JP manager who just ignores them for the most part. No events, no merch deals, no sponsorships, just whatever crumbs they get from streaming revenue unless they're a high earner (probably no one left in EN counts as a high earner anymore). Graduations would restart and one would be permitted every 1-2 months until everyone who wanted to leave was finally gone.
There's problems with both approaches. A hard merge will likely drop the stock price further, but the ongoing stock buyback program will help mitigate that. It would also bring an end from having to awkwardly explain the EN situation to investors every quarter. A soft merge would let Riku and the company save some face, but it would mean awkward questions from investors and it would mean they'd have to deal with the headache and expense of winding down EN very slowly. The smart thing to do is to just take the "L" and hard merge and amputate the gangrenous limb, but Nijisanji is notorious for being stupid.
