Daito Trust Construction Co., Ltd. (head office: Tokyo, Japan) hereby announces that it plans to launch a purchase, renovation, and resale business that will entail the renovation and resale of properties purchased in the United States.
For our first such project, we have acquired 32 units in eight two-story wooden apartment buildings located in Redondo Beach (Los Angeles County), California. Starting at the end of 2024 and following comprehensive renovations, we plan to sell the properties to Daito Trust Group customer, businesses, and investors then manage the properties under contract after the sale.
As described in our Medium-Term Management Plan FY2024-2026 announced in May of this year, we plan to deploy the integrated services and rental management expertise developed in the Japanese market into the international markets. In July, our American subsidiary Daito Kentaku USA, LLC opened an office in El Segundo, Los Angeles, California. In building local networks and infrastructure and expanding the purchase, renovation, and resale business, the subsidiary will target net sales of 10 billion yen in the fiscal year ending March 2027 and a world-leading 1.5 million units managed, including 50,000 units overseas, by 2029.