Sun Frontier Sado Co., Ltd and Sun Frontier Hotel Management Inc. agreed to acquire Hotel Osado, K.K. from Rinko Corporation.
Sun Frontier Sado Co., Ltd and Sun Frontier Hotel Management Inc. agreed to acquire Hotel Osado, K.K. from Rinko Corporation (TSE:9355) on March 29, 2021. As of March 31, 2020, Hotel Osado had total assets of ¥586 million and total assets of ¥632.5 million. For the year ended March 31, 2020, Hotel Osado generated revenue of ¥527.6 million, operating income of ¥30.9 million and net income of ¥29.9 million. Board of Directors of Rinko Corporation approved the transaction. Transaction is expected to complete on April 26, 2021.