Reiwa Travel has announced its plans to acquire shares of Aloha7 from Tabikobo and to make it a wholly-owned subsidiary.
Founded in 1973, Aloha7 is a land operator in Hawaii, responsible for procurement of accommodation facilities. It has posted net losses for the last three fiscal years.
Tabikobo has decided to transfer the shares as part of its cost control efforts, such as reducing fixed costs, and to focus on select management resources. Reiwa Travel aims to strengthen hotel procurement in Hawaii, which is popular with tourists, through Aloha7.
The contract will be concluded on December 31, with the transfer execution date set for January 31, 2024. The acquisition price will be based on 24 million yen, with adjustments made for increases or decreases in certain balance sheet items post-March 2023.
