Ebisu Resort LLC agreed to acquire Daiwa Resort Co., Ltd. from Daiwa House Industry Co., Ltd. (TSE:1925) for ¥55.6 billion on December 8, 2022. For the period ended March 31, 2022, Daiwa Resort Co., Ltd. reported net worth of ¥4.8 billion, total assets of ¥32 billion, revenues of ¥18.8 billion, negative EBIT of ¥7.5 billion and a net loss of ¥6.9 billion. As a result of the transfer, Daiwa House plans to remove Daiwa Resort from the scope of consolidation subsidiaries.

The transaction is expected to close on April 3, 2023. As on March 28, 2023, The transaction is expected to complete on May 31, 2023. Daiwa Securities Co.

Ltd. acted as financial advisor to Daiwa House Industry Co., Ltd. (TSE:1925).