Tokai Kisen Co., Ltd. (TSE:9173) agreed to acquire an additional 1% stake in Ogasawara Kaiun Co., Ltd. from Nippon Yusen Kabushiki Kaisha (TSE:9101) for ¥26.4 million on May 13, 2021. Under the transaction, Tokai Kisen will acquire 10 shares in Ogasawara Kaiun. As a result of the transaction, Tokai Kisen Co., Ltd. would own 51% stake in Ogasawara.

The transaction has been resolved by the Board of Directors of Tokai Kisen at its meeting held on May 13, 2021. The contract conclusion date is expected on May 21, 2021. The equity transfer is expected to complete on May 21, 2021.