Nankai Electric Railway will make Meiko Bus its subsidiary effective October 1.
It will acquire the shares of Meiko Bus currently held by Kintetsu Bus and Kintetsu Insurance Service, raising its investment ratio from 17.6% to 72.9%. The purchase price is not disclosed.
Meiko Bus operates local bus routes within Tanabe City, Shirahama Town, and Kamitonda Town in Wakayama Prefecture, as well as express bus services between Shirahama and Osaka, and between Shirahama/Tanabe and Yokohama/Tokyo. Nankai cites the acquisition as essential for its ‘Tourism-related Business Enhancement’ strategy focused on the Wakayama Area, aimed at revitalizing the region through public transportation improvements, refurbishing tourist and accommodation hubs, and capturing inbound business.
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