Hero Co., Ltd. agreed to acquire Meitetsu Marukoshi Department Store Co., Ltd. and Kanazawa Sky Hotel Co., Ltd from Nagoya Railroad Co., Ltd..
March 07, 2021
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Hero Co., Ltd. agreed to acquire Meitetsu Marukoshi Department Store Co., Ltd. and Kanazawa Sky Hotel Co., Ltd from Nagoya Railroad Co., Ltd. (TSE:9048) on March 8, 2021. Under the terms Hero Co., Ltd. will acquire
55,840,000 shares and 30,000 shares of Meitetsu Marukoshi Department Store Co., Ltd. and Kanazawa Sky Hotel Co., Ltd respectively. For the period ended on March 31, 2020, Meitetsu Marukoshi Department Store Co., Ltd reported negative net assets of ¥1.72 billion, total assets of ¥6.14 billion, Revenues of ¥11.7 billion, operating loss of ¥254 million and net loss of ¥1.79 billion. For the period ended on March 31, 2020, Kanazawa Sky Hotel Co., Ltd reported negative net assets of ¥975 million, total assets of ¥382 million, Revenue of ¥826 million, operating loss of ¥38 million and net loss of ¥82 million. The transaction is resolved by the board and is expected to complete in March 31, 2021.
Nagoya Railroad Co., Ltd. is mainly engaged in the provision of transportation services. The Company operates through five business segments. The Traffic segment provides rail, bus, taxi passenger transportation services. The Transportation segment is engaged in trucking and marine transportation services. The Real Estate segment is engaged in the leasing and sales of real estate. The Leisure Service segment is engaged in the hotel, tourism, sightseeing facilities and advertising agency businesses. The Distribution segment is engaged in the department store and other retail businesses. The others business is engaged in the maintenance and construction of facilities, the airline business, the information processing business, the construction business, as well as the provision of information management and insurance services.
NAGOYA RAILROAD CO., LTD. 
