Royal In-Flight Catering Co.,Ltd. announced that it has entered into an agreement to issue 296,000 shares on February 15, 2021. The transaction includes participation from returning investor, ROYAL HOLDINGS Co., Ltd. (TSE:8179) for 70,400 shares and new investor, Sojitz Corporation (TSE:2768) for 225,600 shares to take 40% stake in the company. The stake of ROYAL HOLDINGS Co., Ltd. (TSE:8179) will reduce from 100% to 60% post closing of the transaction.

The transaction is expected to close on March 31, 2021. The transaction has been approved by the board of directors of ROYAL HOLDINGS Co., Ltd. (TSE:8179).