RESORT SOLUTION Co. Ltd cancelled the acquisition of 90% stake in Shintetsu Hyogo Golf Co., Ltd. from Kobe Electric Railway Co., Ltd..
February 23, 2013 at 11:00 pm EST
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RESORT SOLUTION Co. Ltd (TSE:5261) agreed to acquire 90% stake in Shintetsu Hyogo Golf Co., Ltd. from Kobe Electric Railway Co., Ltd. (OSE:9046) on February 24, 2012. An agreement is expected to be signed on March 16, 2012. The Board of Directors of Kobe Electric Railway Co., Ltd resolved the transaction on February 24, 2012 and the transaction is expected to be completed on March 31, 2015. The transaction will result in a loss of ¥557 million to Kobe Electric Railway Co., Ltd. Shintetsu Hyogo Golf Co., Ltd will be removed from the consolidated balance sheet, therefore it will have no effect on Kobe Electric Railway Co., Ltd's consolidated performance.
RESORT SOLUTION Co. Ltd (TSE:5261) cancelled the acquisition of 90% stake in Shintetsu Hyogo Golf Co., Ltd. from Kobe Electric Railway Co., Ltd. (OSE:9046) on February 24, 2013.
Kobe Electric Railway Co., Ltd. is a Japan-based transportation company engaged in four business segments. The Transportation segment is involved in the railway, bus and taxi businesses. The Distribution segment is engaged in the sale of commodities. The Real Estate segment is involved in the sale and leasing of real estate properties. The Others segment is engaged in businesses related to travel, nursing care service, health and childcare service, golf course, advertising agency, construction, facility management and security, finance, and information processing service.
KOBE ELECTRIC RAILWAY CO., LTD. 
