Business | Jul 21

Japan's H.I.S. considers selling resort Huis Ten Bosch

Jul 21 (Nikkei) - Japanese travel agency H.I.S. is making arrangements to sell its stake in Huis Ten Bosch, a well-known resort in the Nagasaki Prefecture city of Sasebo, Nikkei has learned. The company is considering a Hong Kong investment company as a possible buyer along with others, sources close to the situation say.

H.I.S. on Thursday posted a statement saying that in order to improve the corporate and share value of Huis Ten Bosch, it is considering various options, including share sales, but no concrete decisions have been made.

The deal is estimated to be in the tens of billions of yen. H.I.S. aims to secure funds through the sale since the company's business performance is deteriorating amid the prolonged decline in travel demand due to the COVID-19 pandemic.

H.I.S. holds 66.7% of Huis Ten Bosch shares. The remaining shares are held by local companies such as Saibu Gas and JR Kyushu. H.I.S. is currently negotiating with several investment funds that are not yet identified by name. Huis Ten Bosch is expected to continue operating after the sale.

Source: ANNnewsCH

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