Nippon Sangyo Suishin Kiko, a private equity firm, agreed to acquire a 61.8% stake in The Kamogawa Grand Hotel, a hotels operator, for $57m. Leveraging the business foundation that KGH has built and by providing the NVP and drawing on the expertise and domestic and international networks that its members have cultivated, NSSK intends to strengthen KGH's competitiveness and contribute to the enhancement of its corporate value, supporting the introduction of business management methods which include visualization of KPIs, strengthening governance and compliance systems, enhancing labor management systems, disseminating corporate philosophy, and promoting ESG activities so that KGH can achieve more robust growth in the next stage of its development.