Es-Con Japan acquires Shiba Real Estate, expanding asset portfolio

Es-Con Japan (TSE:8892) announced the completion of its acquisition of Shiba Real Estate Inc. on April 1, 2025, converting Shiba Real Estate into a wholly-owned subsidiary. The acquisition, initially announced in December 2024, involves ES-CON JAPAN acquiring all 1,000 shares of Shiba Real Estate for an estimated total of JPY 20.3 billion. Shiba Real Estate was newly formed from a carve-out of Mitsubishi Chemical Corporation's real estate business, which includes rental apartments, office buildings, and other promising assets primarily in the Tokyo metropolitan area. The deal aligns with ES-CON JAPAN's 5th Mid-Term Management Plan, aimed at securing rental income, boosting sales revenue through real estate sales, and sourcing new development sites. ES-CON JAPAN holds 100% stake in Shiba Real Estate, which was established on January 17, 2025 with a capital of JPY 5 million. Es-Con Japan's consolidated results for the current fiscal year will not be significantly impacted.