January 21, 2010

H.I.S. Likely To Support Huis Ten Bosch's Rehabilitation

Travel agency H.I.S. Co. is considering taking part in supporting the turnaround of Huis Ten Bosch., an ailing theme park operator in Nagasaki Prefecture, according to Nikkei. Under a likely plan, Huis Ten Bosch would reduce its capital and issue new shares through a third-party allocation. H.I.S. would take a more than 50% stake with an investment of some 2 billion yen, and three to four local companies would collectively spend a little less than 1 billion yen to buy shares. Huis Ten Bosch filed for bankruptcy protection under the Corporate Rehabilitation Law in 2003, after continuously incurring operating losses since opening the theme park in 1992. Nomura Holding Inc., the parent company since 2003, wishes to discontinue its involvement and is seeking a company to support Huis Ten Bosch's reconstruction.

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