Tsuruha Holdings Inc. (TSE:3391) signed a contract to acquire 51% stake in JR Kyushu Drug Eleven Co.,Ltd. from Kyushu Railway Company (TSE:9142) for ¥14 billion on April 30, 2020. Tsuruha Holdings will acquire 2.7 million shares of JR Kyushu Drug Eleven. Upon completion of the transaction, Kyushu Railway will retain 49% stake in JR Kyushu. The transaction is expected to close on May 28, 2020. Kyushu Railway expects to record an extraordinary gain of approximately ¥9.0 billion in the fiscal year ending March 31, 2021.

Tsuruha Holdings Inc. (TSE:3391) completed the acquisition of 51% stake in JR Kyushu Drug Eleven Co.,Ltd. from Kyushu Railway Company (TSE:9142) on May 2020.