Shimizu Corpor.ation completed the acquisition of additional 25.26% stake in THE NIPPON ROAD Co., Ltd.
March 21, 2022
Share
Shimizu Corporation (TSE:1803) made an offer to acquire additional 25.26% stake in THE NIPPON ROAD Co., Ltd. (TSE:1884) for ¥22.2 billion on February 9, 2022. As per the transaction, Shimizu Corporation will acquire 2,220,200 shares at ¥10000 per share. The offer is expected to close on March 22, 2022. Nomura Securities Co., Ltd. acted as financial advisor and Nishimura & Asahi acted as legal advisor to Shimizu Corporation. Mizuho Securities Co., Ltd. acted as financial advisor and Gaien Partners acted as legal advisor to THE NIPPON ROAD Co., Ltd.
Shimizu Corporation (TSE:1803) completed the acquisition of additional 25.26% stake in THE NIPPON ROAD Co., Ltd. (TSE:1884) on March 22, 2022. Post completion, Shimizu Corporation holds 4.403 million shares representing 50.1% stake of THE NIPPON ROAD Co., Ltd. THE NIPPON ROAD Co., Ltd. has become subsidiary of Shimizu Corporation.
Nippon Road Co Ltd is a Japan-based company mainly engaged in the construction business, real estate business and insurance agency business, as well as the manufacture and sale of construction materials, and the leasing of automobiles and office equipment. The Company operates through three business segments. The Construction Business segment is engaged in paving works, civil engineering and architectural works, construction cooperation and civil engineering consultancy, and other general construction works related businesses. The Manufacture and Sale Business segment manufactures and sells asphalt mixtures and emulsions, and other materials for road paving. The Leasing Business segment is engaged in the leasing of automobiles and office equipment. The Company is also engaged in the development and sale of computer software, the sale of office equipment, and the planning and operation of sports facilities, as well as real estate business and insurance agency business.