Xebio Holdings Co (TYO:8281) has completed extensive renovation work on XEBIO Arena Sendai and transferred the asset to Sendai City as a conditional donation on June 2, according to its bourse filing on Tuesday.
This transfer resulted in a finalized extraordinary loss of 2.37 billion yen for the company in the current fiscal year.
Moving forward, Xross Sports Marketing, a subsidiary, will continue to manage and operate the arena under a new 20-year agreement with Sendai City.
The facility will retain its name and continue to serve as a vital regional hub for sports and culture, with XEBIO Holdings committed to community contributions.
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