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Merger of two consolidated subsidiaries |
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Daito Trust Construction would like to announce a merger of its subsidiaries, Daito Building Management Co., Ltd. which provides comprehensive building management services and Daito Kyosaikai Co., Ltd. which offers rent guarantee service.
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1. Purpose of merger
Daito group has implemented "Lease Management Trust System" which
provides thirty-year whole building lease service as it released on July
3, 2007. Under the new business model, Daito Building Management will take
over Kyosaikai's rent guarantee service by leasing owners' buildings. Due
to the remodeled business practice, contracts of Daito Kyosaikai members
will be transfered to whole building lease contract and it is scheduled
to be completed by January 2008. (Daito Kyosaikai will continue its business
until March 2008 as a special certified insurance company. It is approved
on August 16, 2006).
Therefore, Daito group agreed to merge Daito Building Management and Daito
Kyosaikai on April 1, 2008.
2. Method of merger
Daito Building Management will absorb Daito Kyosaikai, which will be subsequently
dissolved.
3. Date of merger
April 1, 2008
4. Summary of parties
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Trade name
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Daito Building Management Co., Ltd
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Daito Kyosaikai Co., Ltd.
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Location of head office
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16-1, Konan 2-chome
Minato-ku, Tokyo |
16-1, Konan 2-chome
Minato-ku, Tokyo
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Date of establishment
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July 1, 1994 |
March 17, 1980
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Capital
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100 million yen
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480 million yen
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| Net sales |
24,900 million yen
(fiscal year ended March 2007)
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16,600 million yen
(fiscal year ended March 2007) |
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Net income
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1,600 million yen
(fiscal year ended March 2007)
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1,400 million
(fiscal year ended March 2007)
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| Number of employees |
1,354
as of the end of March 2007
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8
as of the end of March 2007
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4. After completion of merger
| Trade name |
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Daito Building Management Co., Ltd. |
| Business |
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Lease building management |
| Location of head office |
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16-1, Konan 2-chome Minato-ku, Tokyo |
| Representative |
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Hitoshi Kadouchi, Representative director and president |
| Capital |
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100 million yen |
5. Forecast
The merger of two wholly owned subsidiaries will not have an impact on Daito Trust Construction's consolidated results.
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