Nankai to Acquire Operator of Osaka's Tsutenkaku Tower

Osaka, Dec. 4 (Jiji Press)--Nankai Electric Railway Co. said Wednesday that it will acquire a 70.8 pct stake in Tsutenkaku Kanko Co., which operates Tsutenkaku Tower, a major tourist attraction in the western Japan city of Osaka, for an undisclosed sum.

The Osaka-based railway operator plans to develop infrastructure for tourists around the tower.

Nankai aims to build deeper relations with Tsutenkaku Kanko to promote the further development of Osaka, Nobuyuki Okajima, president and chief operating officer at the railway firm, said in a press conference.

Tsutenkaku Kanko thinks that Nankai is its best partner, said Ryuko Takai, president of the tower operator.

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