Shintetsu Tourist Co., Ltd. cancelled the acquisition of station kiosk business from Kobe Electric Railway Co., Ltd..
February 26, 2015 at 11:00 pm EST
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Shintetsu Tourist Co., Ltd. signed an agreement to acquire station kiosk business from Kobe Electric Railway Co., Ltd. (TSE:9046) for ¥6 million in cash on February 27, 2014. In a related transaction, Shintetsu Enterprise Co., Ltd signed an agreement to acquire food supermarket business for approximately ¥200 million. As of March 2013, station kiosk business reported ¥449 million. The Board of Directors of Kobe Electric Railway Co., Ltd. passed a resolution for the transaction on February 27, 2014 and the transaction is expected to close by April 1, 2014.
Shintetsu Tourist Co., Ltd. cancelled the acquisition of station kiosk business from Kobe Electric Railway Co., Ltd. (TSE:9046) on February 27, 2015.
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. 
