NSSK is pleased to announce that today it entered into definitive agreements to acquire Meotoiwa Paradise Co, Ltd. (“Meotoiwa Paradise”; http://www.futami-seaparadise.com) from Nagoya Railroad Co., Ltd.

Meotoiwa Paradise, is in Ise City, Mie Prefecture, and on a tour bus route from Ise Shrine. It is a shopping and entertainment arcade development that includes souvenir stores, restaurants and shops selling seafood and other local products. Contiguous with the arcade is Futami Sea Paradise, an aquarium which is famous for the close and personal encounter and interaction with walruses, seals and other marine mammals.

In close cooperation with local businesses, financial institutions and governments and in partnership with the employees, NSSK plans to help revitalize the business. The corporate carve-out investment in Meotoiwa Paradise illustrates NSSK’s commitment to invest in local businesses with high growth potential in Japan’s regional economy and represents its strategy of investing in businesses well positioned to benefit from increasing domestic and overseas tourist activity.