Notice on “Kanaya Hotel” Corporate Recovery Participation

Nov 24th, 2005

RISA Partners today announces its participation in corporate recovery of Kanaya Hotel Inc., which owns and manages nation’s leading classic hotel, Nikko Kanaya Hotel, and a high-end resort hotel near Chuzenjiko lake, Chuzenji Kanaya Hotel.

Our comprehensive plan includes acquisition of Kanaya Hotel Inc.’s shares (anticipated at 58.7%) through RISA Partners’ SPC and dispatching of a director to the hotel.

Kanaya Hotel’s revival will be carried out by RISA Partners in partnership with the Ashikaga Bank, the Development Bank of Japan, the Shokochukin Bank, and the Tochigi Chamber of Commerce and Industry.

Kanaya Hotel Inc. Details
1. Business Name: Kanaya Hotel Co., Ltd.
2. Headquarters location: 1300 Kamihatsuishi-machi Nikko city Tochigi
3. Representative: Makiko Inoue
4. Establishment year: 1873
5. Capital: JPN97,200,00
6. Major Operation: ownership and operation of “Nikko Kanaya Hotel” and “Chuzenji Kanaya Hotel”
7. Number of Staff: 85 (full-time)

Click here for more details.