Nankai Electric Railway is to make Tsutenkaku Tourism a subsidiary.
It will acquire 70.8% of the issued shares from existing shareholders. It aims to create a system that combines diverse resources such as Tsutenkaku, public transportation, and real estate, and to vigorously promote the area management strategy, including the “Greater Namba” concept.
Tsutenkaku Tourism was established in 1955 and is responsible for operating Tsutenkaku, the symbol of Osaka’s Shinsekai area. For the fiscal year ending in March 2024, the company reported a revenue of 1.515 billion yen and a net profit of 495 million yen.
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