TOKYO, Mar 25 (Pulse News Wire) – Wealth Management, Inc. (3772.T) announced today that its subsidiary, Richesse/Management Kabushiki Kaisha, will transfer the hostel “&AND HOSTEL MINAMISENJU” to a newly established joint-stock company, Chunan South Logistics Co., Ltd., which is partially funded by Dai-Ichi Life Insurance Co., Ltd.
The decision was approved by the parent company’s board of directors and the subsidiary's board on March 26, 2026. Details of the transaction include: - Target asset: "&AND HOSTEL MINAMISENJU" - Buyer: Chunan South Logistics Co., Ltd. - Location: Inside Asuna Accounting Office, Tokyo, Chiyoda Kunai Kanda Ichi Choume 3-7-401 - Business scope: Real estate acquisition, holding, and disposal - Transaction date: Scheduled for March 26, 2026 - Settlement date: Scheduled for March 26, 2026 Chunan South Logistics Co., Ltd. is capitalized by Dai-Ichi Life Insurance Co., Ltd., but there are no capital, personal, or transactional relationships between the buyer and the seller. The hostel, located at Tokyo, Arakawa Ku Minamisenju 3-2-9, covers a land area of 153.65 square meters and has a total floor space of 766.04 square meters.
It opened in November 2019 and currently offers 60 guest rooms. In connection with this transaction, the company expects ordinary profit for the fiscal year ending March 2026 to exceed the previous year's ordinary profit by more than 30%. This forecast is based on the previously disclosed earnings estimate for the fiscal year ending March 2025. The subsidiary, Richesse Management Co., Ltd., specializes in real estate finance and has a capital of ¥65 million. Founded in April 2006, it operates out of Tokyo, Minato Ku Akasaka Ichi Choume 12-32.
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