Nishi-Nippon Railroad to absorb Nishitetsu Kanko Bus in merger

** Nishi-Nippon Railroad (TSE:9031) announced that it will absorb its wholly-owned subsidiary, Nishitetsu Kanko Bus Co., Ltd., through an absorption-type merger effective April 1, 2026. The merger, structured as a simplified merger for Nishi-Nippon Railroad and a short-form merger for Nishitetsu Kanko Bus, will not require shareholder approval. The primary goal is to enhance safety by ensuring a stable supply of charter bus drivers and to improve responsiveness to increasing tourism demand. As part of the restructuring, the Kitakyushu area operations of Nishitetsu Kanko Bus will be transferred to another wholly-owned subsidiary, Nishitetsu Bus Kitakyushu Co., Ltd., via an absorption-type split. Upon completion of the merger, Nishitetsu Kanko Bus will be dissolved. The financial impact of the merger on Nishi-Nippon Railroad's consolidated financial results is expected to be minor. Nishi-Nippon Railroad owns 100% of Nishitetstu Kanko Bus and so no shares or other compensation will be issued.