Notice regarding the Share Acquisition (Consolidation as a Subsidiary) of Satohide Corporation
November 30, 2023
Taisei Corporation
We, Taisei Corporation (President and CEO: Yoshiro AIKAWA) hereby notify that we have obtained all the shares of Satohide Corporation (President and CEO: Tadao MURANO, hereinafter “Satohide”) and consolidated Satohide as our wholly owned subsidiary as of today.
Satohide is a general contractor engaged in the construction of high-quality residences and buildings based on its advanced technological capabilities, which cover high-end residential buildings, traditional buildings such as shrines and temples, innovative designer condominiums and office buildings, mainly in the Tokyo metropolitan area.
In order to realize "the CDE3 (Cubed) Company: a pioneering corporate group contributing to the development of a resilient society where people can live affluence and cultural lives" in “TAISEI VISION 2030”, which was announced in May 2021, we believe that, by working together with Satohide in our group at the business areas such as high-end residential buildings and traditional buildings, it will enable us to further satisfy the wide range of customers’ needs.
Going forward, we intend to strive to maximize synergies by utilizing the clienteles and the management resources of both companies and further enhance our corporate value as the group.
1.Outline of the subsidiary (Satohide) whose shares we have obtained
| (1)Trade name | Satohide Corporation |
|---|---|
| (2)Contents of business | The trade or business of designing and construction relating to building works; and The trade or business of purchase, sale, lease, brokerage and maintenance of real property |
| (3)Date of establishment | May 6, 1948 |
| (4)Address of principal office | 6-11 Shinjuku 5-chome, Shinjuku-ku, Tokyo |
| (5)Title and name of representative | President and CEO, Tadao MURANO |
| (6)Capital stock | 100 million Japanese Yen |
2.Ownership rate of shares of Satohide after our share acquisition
| (1)Ownership rate of shares before share acquisition | - |
|---|---|
| (2)Share acquisition of ownership rate of shares | 100% |
| (3)Ownership rate of shares after share acquisition | 100% |