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Daito Trust Construction Co., Ltd. announces capital and business alliance
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with Daisue Construction Co., Ltd.
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Daito Trust Construction Co., Ltd. (President: Moritaka Asada, Head office:
Minato-ku, Tokyo, Japan) and Daisue Construction Co., Ltd. (1st section
of Tokyo and Osaka stock exchange, code: 1814, President: Takeji Yamamura)
agreed to a capital and business alliance and an acquisition of 10,137,000
of Daisue Construction's shares (10.0% of total voting right) at a board
of directors on February 16, 2006.
1. Purpose of capital and business alliance
Construction and management of rental apartments is a core business for
Daito Trust Construction Co., Ltd. While, condominium construction accounts
for 70% of Daisue Construction Co., Ltd business proceeds. Under current
conditions, consumers are concerned about the quality of mid-to-high rise
apartment building construction. Both companies believe that by sharing
Daito Trust Construction's knowledge of residential needs and Daisue Construction's
condominium construction techniques they can provide customers with high
quality housing. Daito Trust Construction and Daisue Construction have
reached a basic agreement to create a business alliance. The purpose of
the alliance will be to expand each of their businesses in the area of
rental apartment construction and other related businesses.
2．Outline of Daisue Construction Co., Ltd.
| (1) Company Name: |
Daisue Construction Co., Ltd. |
| (2) Representative: |
President Takeji Yamamura |
| (3) Location: |
2-11 Minami-Senba 2-Chome, Chuo-Ku,
Osaka JAPAN |
| (4) Date established: |
March 20, 1947 |
| (5) Business: |
Construction, design, management, and consultant of buildings. Civil engineering. |
| (6) End of fiscal year: |
March 31 |
| (7) Number of employees: |
851 (March 2006) |
| (8) Capital: |
JPY 5,307,112,500 |
| (9) Transaction with Daito: |
N/A |
3．Summary of business alliance
We agreed to discuss details of following issues
- cooperative procurement of materials
- cooperative development and order receipt for
rental midum and low rise apartment
- effective utilization of engineers
- coordination of sharing estate information
4．Summary of capital alliance
Daito Construction Co., Ltd takes over shares of Daisue Construction Co., Ltd. from Sojitsu Corporation and other investors.
Outline of Shares and Stock acquisition
| (1) Number of shares before the alliance: |
0 shares
（voting rights 0.0％） |
| (2) Number of shares acquired: |
10,137,000 shares |
| (3) Total number of shares after alliance: |
10,137,000 shares
（voting rights 10.0％） |
5．Schedule of share acquisition
February 16, 2006 share transfer agreement
February 20, 2006 stock transfer
6. Forecast
There is no change in the forecast of fiscal year 2005 by this alliance.
The forecast of fiscal year 2006 is going to be announced as soon as the
alliance concrete content is decided.
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