Tosei Corporation signed a contract to acquire NBF Shinkawa Building from Nippon Building Fund Incorporation for ¥11.9 billion.

Tosei Corporation (TSE:8923) signed a contract to acquire NBF Shinkawa Building from Nippon Building Fund Incorporation (TSE:8951) for ¥11.9 billion on August 17, 2020. Tosei Corporation has decided for the deal at a meeting of its Board of Directors held on August 17, 2020. 50% stake will be transferred on December 25, 2020 and 50% will be transferred on March 31, 2021.

50% of the stake is transferred in H2 2020. The impact of this asset acquisition is minor to the financial forecast for the fiscal year ending November 30, 2020 for Tosei Corporation.