Hulic excludes Nishi Tokyo Asset LLC from consolidation scope

Hulic Co., Ltd. (TSE:3003) announced that Nishi Tokyo Asset LCC will be excluded from the scope of consolidation of the Company and become a non-consolidated subsidiary on July 1, 2025. The decision follows a refund of investment received by Hulic after Nishi Tokyo Asset LCC sold trust beneficiary rights that were acquired through a silent partnership investment in April 2024. Nishi Tokyo Asset LCC, established on January 31, 2024, engages in the acquisition, ownership, disposal, leasing, and management of real estate and trust beneficiary rights. As of May 30, 2025, its paid-in capital was JPY25,600 million. Hulic owned 100% of Nishi Tokyo Asset LCC. For the fiscal year ended September 2024, Nishi Tokyo Asset LCC reported net assets of JPY26,890 million, total assets of JPY27,864 million, net sales of JPY1,108 million, operating profit of JPY584 million, ordinary profit of JPY590 million, and net income of JPY590 million. Hulic anticipates a minor impact on its performance from the return of the investment and confirms no changes to its consolidated earnings forecast for the fiscal year ending December 2025, as announced on January 30, 2025.