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Bus company buys Naha Bus Terminal

Date Posted: 2012-01-27

The company that operates two local bus companies has bought all the stock in the Naha Bus Terminal in downtown Naha City’s Izumizaki district.

Kita-Kyushu City-based Dai-ichi Koutsu Industry, which operates Naha Bus and Ryukyu Bus, two of Okinawa’s four bus companies, as well as a taxi business, bought all 20,000 shares of stock from Naha Bus Terminal Company, operator of the bus terminal. The purchase comes at a time the bus terminal and the surrounding area is slated for redevelopment.

The company bought the terminal stock from real estate company RISSI in Tokyo, changing the bus terminal status to “fully owned” by Dai-ichi Koutsu Industry. Izumi Ootsuka, the company’s executive vice president, will handle operations in Naha. The deal gives Dai-ichi Koutsu the two-story terminal building and about 3,845 square meters of land. Okinawa Prefecture owns about 130,000 square meters of land in the same area.

Okinawa Kaiho Bank, which had a claim against the company, sold the land at an auction. Dai-ichi Koutsu bought the claim from Kaiho Bank and then made the successful bikd for the land. “The redevelopment will be possible now by what we get from the bus terminal,” explained Dai-ichi Koutsu of the purchase. The redevelopment project in the area includes new commerce and an office that includes keeping the bus terminal’s functions in Izumizaki.

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