Tokyo Kisen is acquiring Yokohama Trading Building and its stake in Tokyo Bay Ferry to consolidate operations and address financial challenges within the ferry business.

Target Information

Tokyo Kisen Ltd. (Ticker: 9193) has announced its acquisition of Yokohama Trading Building, a non-consolidated subsidiary engaged in the parking lot business. Moreover, Tokyo Kisen previously held an 80.1% stake in Tokyo Bay Ferry, located in Yokosuka, Kanagawa Prefecture, which is now being fully integrated into its operations. This acquisition is set to culminate in a merger planned for the end of November 2025, where Tokyo Bay Ferry will serve as the surviving entity.

Yokohama Trading Building has reported sales of ¥68.8 million, an operating profit of ¥24.8 million, and net assets amounting to ¥138 million. In contrast, Tokyo Bay Ferry shows sales of ¥916 million, but it has been facing financial difficulties, marked by an operating loss of ¥89.2 million and net liabilities totaling ¥410 million, as of the fiscal year ending March 2025.

Industry Overview

The parking industry in Japan has been gradually evolving, driven by increased urbanization and a rise in vehicle ownership. This sector has seen growth opportunities due to the convenience and necess