Hulic Co., Ltd. (TSE:3003) entered into share exchange agreement to acquire remaining 73.2% stake in Nippon View Hotel Co., Ltd. (TSE:6097) from Nagoya Railroad Co., Ltd. (TSE:9048), Tachihi Holdings Co., Ltd., Nippon View Hotel Co., Ltd., Employees' Shareholding Association, Resona Bank, Limited, Suntory Liquors Limited and others for ¥9.2 billion on June 7, 2019. Hulic Co., Ltd will issue 1.57 shares for each share of Nippon View Hotel. Hulic Co., Ltd will issue a total of 10.8 million shares as part of the acquisition. Post completion, Nippon View Hotel Co., Ltd will become wholly owned subsidiary of Hulic Co., Ltd. The transaction is subject to approval by shareholders of Nippon View Hotel at a meeting to be held on July 25, 2019. The transaction is unanimously approved by the Board of Nippon View Hotel and is approved by the Board of Hulic. A third-party committee is formed by Nippon View Hotel consisting of Shigeru Takagi, Kazuya Suga and Tatsuhiro Maeda to look after the transaction.

Nippon View Hotel will be delisted from First Section of TSE on August 29, 2019. The transaction is expected to complete on September 1, 2019. Mori Hamada & Matsumoto LPC acted as legal advisor for Hulic. Nakamura, Tsunoda & Matsumoto acted as legal advisor, Frontier Management Inc. (TSE:7038) acted as financial advisor and Grant Thornton Taiyo LLC acted as financial and tax due diligence provider for Nippon View Hotel.

Hulic Co., Ltd. (TSE:3003) completed the acquisition of remaining 73.2% stake in Nippon View Hotel Co., Ltd. (TSE:6097) from Nagoya Railroad Co., Ltd. (TSE:9048), Tachihi Holdings Co., Ltd., Nippon View Hotel Co., Ltd., Employees' Shareholding Association, Resona Bank, Limited, Suntory Liquors Limited and others on August 29, 2019.