Odakyu Electric Railway to book $82m gain

Odakyu Electric Railway (TSE: 9007) announced it anticipates booking a special profit of ¥8.2 billion ($82 million) in its fiscal year ending March 2025, stemming from the sale of its holdings in Sotetsu Holdings Co., Ltd. The sale, part of Sotetsu Holdings' share offering, involves 4,302,500 shares of Sotetsu, excluding fractional shares. The total sale amount is ¥8.6 billion ($86 million), at a price of ¥2,011.48 per share. The transaction is scheduled for completion on March 10, 2025. Odakyu plans to use the proceeds for strategic investments, enhanced shareholder returns, and improvements to human capital, aiming to improve the company’s enterprise value.