Notice Regarding Results of (Second) Tender Offer for the Shares of The Kamogawa Grand Hotel, Ltd. (TSE Securities Code: 9695)
Nippon Sangyo Suishin Kiko (“NSSK”; www.nsskjapan.com), through investment partnerships and Exempted Limited Partnerships which NSSK affiliates manage or provide services to (collectively, “NSSK II”), commenced a tender offer (this “Tender Offer”) for all common shares, preferred shares, and stock acquisition rights issued by The Kamogawa Grand Hotel, Ltd. (“KGH”; www.kamogawagrandhotel.ne.jp) on January 24, 2022. We hereby announce that this Tender Offer was completed on February 21, 2022.
This Tender Offer as proposed by NSSK II received the approval of the KGH Board of Directors and the KGH Special Committee that was established to review the proposal, as well as the full support of KGH’s management team.
KGH began operations in April of 1952 as a limited liability company under the name of Yoshida-ya Ryokan. In February 1965, the company established a new hotel in Kamogawa, Chiba Prefecture, and changed its name to The Kamogawa Grand Hotel, Ltd. Today, the company is mainly engaged in operating hotels, with the Kamogawa Grand Hotel and Hotel Nishinagato Resort as its main properties. With a motto of “Our guests become cherished family members for life,” KGH has been looking to improve business performance through a corporate policy of “establishing a position as the top hotel operator in Chiba Prefecture,” striving to provide genuine hospitality to satisfy its guests.
Leveraging the business foundation that KGH has built and by providing the NVP and drawing on the expertise and domestic and international networks that its members have cultivated, NSSK intends to strengthen KGH’s competitiveness and contribute to the enhancement of its corporate value, supporting the introduction of business management methods which include visualization of KPIs, strengthening governance and compliance systems, enhancing labor management systems, disseminating corporate philosophy, and promoting ESG activities so that KGH can achieve more robust growth in the next stage of its development. NSSK is partnering with the KGH’s current management team, who will continue to manage the company.