Kintetsu Group Holdings Inc. announced that it is aiming to raise approximately 40 billion yen by selling multiple buildings owned by its subsidiaries to the fund because its business performance has deteriorated due to the effects of the new coronavirus.
Kintetsu Group Holdings announced on the 4th that it has established a fund jointly with the Development Bank of Japan.
The company aims to raise approximately 40 billion yen by selling multiple buildings owned by its subsidiary Kintetsu Real Estate to this fund.
As the first project, we sold the Kintetsu Kasumigaseki Building, which has 9 floors above ground and 1 floor below ground in Chiyoda-ku, Tokyo.
According to the people concerned, the "Kintetsudojima Building" in Kita-ku, Osaka and the "Kintetsu New Namba Building" in Naniwa-ku, Osaka are also considering selling.
At Kintetsu Group Holdings, the number of railway users has decreased significantly due to the impact of the new corona, and the travel giant "KNT-CT Holdings", which owns "Kinki Nippon Tourist", has fallen into insolvency. I will.
By utilizing the funds established by the company and financial institutions, it is thought that the aim is to create an environment where the real estate can be sold once to secure funds and the building can be bought back after the corona has converged.