TKP Corporation enter into a letter of intent to acquire 14.5% stake in Escrit Inc. from Blocks Ltd for ¥570 million.
July 15, 2020
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TKP Corporation (TSE:3479) enter into a letter of intent to acquire 14.5% stake in Escrit Inc. (TSE:2196) from Blocks Ltd for ¥570 million on July 15, 2020. Under the terms of transaction, TKP Corporation will acquire 1.7 million shares at price of ¥334.4 per share. On July 15, 2020, Board of directors held meeting and resolved to conclude a capital and business alliance agreement in which block ltd will conclude the application and delivery date to transfer shares is on July 31, 2020.
TKP Corporation is a Japan-based company mainly engaged in space regeneration distribution business by utilizing idle real estate. It is mainly engaged in meeting rooms and banquet halls leasing services. It manages rental conference rooms through TKP Rental Conference Room Net which is a tool to attract customers. Meeting rooms are used for conferences, seminars and lectures, training, examinations, social gatherings, exhibitions. Rooms are mainly located in metropolitan areas such as Tokyo, Sapporo, Fukuoka, Nagoya, Kyoto, Osaka, Hiroshima, New York and New Jersey. It also provides related services such as drinks and catering, rental options, lodging, event production and management support. Optional services rent meeting equipment. Accommodation service operates new style business hotels with meeting room facilities. It also provides building management services, telemarketing services, medical association operation consulting services and event production services.
TKP CORPORATION 
