ITOCHU Announces the Conversion of Nishimatsu Construction Co., Ltd. to an Equity-method Associated Company
May 30, 2025
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced that ITOCHU made Nishimatsu Construction Co., Ltd. (headquartered in Minato-ku, Tokyo; Masakazu Hosokawa, Representative Director and President; hereinafter “Nishimatsu Construction”) an equity method affiliate by acquiring 2.1% of its outstanding shares to make its aggregate interest in Nishimatsu Construction 22.0%.
Since the formation of a capital and business alliance with Nishimatsu Construction in December 2021, ITOCHU has realized substantial synergies, mainly through the joint implementation of real estate development including construction by Nishimatsu Construction, the procurement of materials in cooperation with ITOCHU Group companies and collaboration in the renewable energy business ITOCHU operates.
On this occasion, ITOCHU has made an additional investment as of the date of this announcement because we determined that, by committing additional resources to measures to address pressing problems such as worker shortages which Nishimatsu Construction faces.
ITOCHU and Nishimatsu Construction will work to further expand business and enhance corporate value based on the strong relationship that have been built up through joint efforts.
Outline of Nishimatsu Construction
| Company name | Nishimatsu Construction Co., Ltd. |
|---|---|
| Headquarters | 17-1, Toranomon 1-chome, Minato-ku, Tokyo |
| Representative | Masakazu Hosokawa, Representative Director and President |
| Business | Construction, development and realty |
| Capital | 23,513 million yen |
| Established | September 20, 1937 |
| URL | https://www.nishimatsu.co.jp/eng/ |