Keisei Electric Railway has partially sold its shares in Oriental Land.
The company applied 18 million shares to the share buy-back transaction outside of the exchange conducted by Oriental Land. The sale price was 3,435 yen per share, amounting to a total of 61.83 billion yen. The shareholding voting rights percentage decreased to 20.17% after the sale. Gains on sales of affiliates, and losses due to changes in equity stakes, will be recorded as special income and losses, respectively. The amounts are currently being calculated.
Oriental Land will cancel the acquired shares. Due to Keisei Electric Railway’s share sale, the company stated that it would engage in share buybacks and cancellations to mitigate short-term impacts on share demand and supply, as well as to minimize the impact on existing shareholders.
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