H.I.S. (HIS) has decided to acquire shares in Develop, making it an equity method affiliate.
Founded in February 2007, Develop operates 96 container hotels nationwide, designed to be movable and flexible in response to various demands. These hotels also serve as “rescue hotels” that can be used as shelters in case of disasters, holding disaster agreements with 147 municipalities across Japan.
HIS will acquire 2.6 million shares from Develop’s CEO, Takeshi Okamura, holding a 20.21% voting rights ratio and making it an equity method affiliate. The acquisition price has not been disclosed.
