Keisei Electric Railway Co., Ltd. (TSE:9009) resolved to acquire the remaining 3.62% stake in Chibakotsu co., ltd. for approximately ¥140 million in stock on January 31, 2014. Keisei Electric Railway Co., Ltd. signed a share exchange agreement for the acquisition on February 4, 2014. Under the terms of the agreement, for every 1 common share of Chibakotsu, 3.6 common shares of Keisei Electric Railway will be allocated in exchange. For the year ending March 31, 2013, Chibakotsu reported net assets of ¥5.33 billion, total assets of ¥7.45 billion, operating profit of ¥873 million, operating revenue of ¥4.6 billion and net profit of ¥607 million. The Board of Director of Chibakotsu resolved the deal on January 31, 2014 and the Board of Directors of Keisei Electric resolved the deal on February 4, 2014. The transaction is expected to close on March 10, 2014. Mizuho Corporate Advisory Co., Ltd acted as financial advisor for Keisei Electric and ReEx Accounting acted as an accountant for Chibakotsu.

Keisei Electric Railway Co., Ltd. (TSE:9009) cancelled the acquisition of remaining 3.62% stake in Chibakotsu co., ltd. on January 31, 2015.