The Announcement of Business Merger with Daiwa Odakyu Construction Co., Ltd.
We are announcing today, August 4th, 2015, Fujita Corporation ("Fujita") and Daiwa Odakyu Construction Co., Ltd. ("Daiwa Odakyu") have agreed on the business merger scheduled to be in effect on October 1st, 2015. We would like to ask your continuous support for our business.
1. The purpose of this merger
Both Fujita and Daiwa Odakyu have been engaging in business focused on construction, while Fujita has also been developing business overseas. Although there has been an increase in public construction works due to the earthquake and tsunami restoration, and an increase in construction investment due to the scheduled Tokyo Olympic is anticipated, the future of construction management remains unclear due to a predicted lack of labor and increased construction costs. In addition, it is expected that investment in construction will be gradually reduced in Japan.
Under these circumstances, we aim to maximize the Daiwa House Group's benefit with this merger. We will combine our resources to achieve maximum efficiency, as well as pursuing greater earning capacity with a nationwide construction business, and driving the expansion of overseas business.
2. Merger overview
1. Dates
Corporate Resolution: August 4th, 2015
Conclusion of Merger Agreement: August 4th, 2015
Merger Date (Effective Date): October 1st, 2015 (Plan)
2. Form of Merger
Absorption-type merger with Fujita as the surviving company, and Daiwa Odakyu will eventually be dissolved.
3. Allotment in relation to the merger
The issued stocks of Fujita and Daiwa Odakyu are solely owned by our parent company, Daiwa House Industry Co., Ltd. ("Daiwa House"). Therefore there is no monetary transfer between the two company merged and their stockholders.
3. Merging companies information
Company Name | Fujita Corporation (Surviving Company) | Daiwa Odakyu Construction Co., Ltd. (Dissolving Company) |
---|---|---|
Address | 4-25-2 Sendagaya, Shibuya-ku, Tokyo | 4-32-22 Nishi-Shinjuku, Shinjuku-ku, Tokyo |
Representative | Yoji Okumura, President | Atsushi Kanakubo, President |
Business | Construction, Engineering, Development etc. | Construction, Engineering, Real Estate |
Established | October 1st, 2002 (Founded on December 1st, 1910) | January 26th, 1939 (Founded on October 1st, 1869) |
Capital | 14,002 million yen | 1,086 million yen |
Employees | 1,909 employees | 818 employees |
Stockholder | Daiwa House Industry Co., Ltd. (100%) | Daiwa House Industry Co., Ltd. (100%) |
*information correct as of 30 June 2015
4. Overview of the New Merged Company (Plan)
Company Name | Fujita Corporation |
---|---|
Address | 4-25-2 Sendagaya, Shibuya-ku, Tokyo (Commercial Registered Address: 4-32-22 Nishi-Shinjuku, Shinjuku-ku, Tokyo) |
Representative | Yoji Okumura, President, Atsushi Kanakubo, Vice President |
Capital | 14,002 million yen |
Stockholder | Daiwa House Industry Co., Ltd. (100%) |
---
ENDS
---
Fujita Corporation
Public Relations Office
Tel. +81-3-3402-1911
Fax. +81-3-3404-8477
Email. info@fujita.co.jp