Ebisu Resort LLC completed the acquisition of Daiwa Resort Co., Ltd. from Daiwa House Industry Co., Ltd..
July 18, 2023
Share
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).
Ebisu Resort LLC completed the acquisition of Daiwa Resort Co., Ltd. from Daiwa House Industry Co., Ltd. (TSE:1925) on July 19, 2023.
Daiwa House Industry Company is a building and civil engineering works group organized around 5 areas of activity:
- construction and sale of business real estate assets (42.4% of net sales): offices, industrial sites, distribution centers, etc.;
- rental housing (25.4%);
- construction and sale of residential real estate assets (20.2%);
- renovation services (3.4%);
- other (8.6%): primarily production of building materials and logistic services.