Osaka's Tsutenkaku Tower Operator Mulling Ties with Nankai

Osaka, Nov. 8 (Jiji Press)--The operator of Tsutenkaku Tower, a major tourist attraction in the western Japan city of Osaka, is considering forming a capital and business tie-up with Nankai Electric Railway Co., it was learned Friday.

The operator, Tsutenkaku Kanko Co., may come under the wing of the Osaka-based Nankai Electric Railway group, informed sources said.

The iconic tower is attracting many foreign tourists, with the COVID-19 pandemic already over. The two sides apparently hope to maintain the trend after the 2025 World Exposition in Osaka by deepening their cooperation.

In response to media reports of such a tie-up, Tsutenkaku Kanko released a statement that it is considering various options such as business and capital alliance over the medium to long term.

Nankai Electric Railway has been working to expand its real estate business by developing areas near Tsutenkaku Tower. The company is believed to expect that deeper cooperation with Tsutenkaku Kanko would help strengthen this business.

[Copyright The Jiji Press, Ltd.]