Tokyu Corporation (TSE:9005) agreed to acquire 45% stake in Shinjuku TOKYU MILANO Property from Tokyu Recreation Co., Ltd. (TSE:9631) for ¥5.3 billion on November 12, 2015. The Board of Directors of Tokyu Recreation Co., Ltd. (TSE:9631) resolved the transaction. The share transfer contract date is November 13, 2015. The transaction is expected to close on November 13, 2015.

Tokyu Corporation (TSE:9005) completed the acquisition of 45% stake in Shinjuku TOKYU MILANO Property from Tokyu Recreation Co., Ltd. (TSE:9631) on November 13, 2015.