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.