Kajima Corporation restructures Sakura-jima Development silent partnership

Kajima Corporation announced a change in its 100% subsidiary, G.K. Sakura-jima Development silent partnership, by inviting three new external joint venture partners to invest. This move will result in the silent partnership no longer being a consolidated or specified subsidiary, but an equity-method affiliate. The agreement for the new silent partnership investments is scheduled to be concluded in two phases, in October and November 2025.

The restructuring is part of Kajima Corporation’s management strategy to bring in external partners for the silent partnership, which is engaged in the acquisition of trust beneficiary rights related to land in Osaka Prefecture and real estate development. As of May 31, 2019, Kajima Corporation held 100% of the yen 12.35 bn total investment. Post-transaction, Kajima's investment ratio will decrease from 100% to 38%, while the new joint venture partners will hold 62% of an expected total investment of yen 13.45 bn by December 2025.

The company stated that this change was already factored into its full-year consolidated earnings forecast for the fiscal year ending March 2026, which was announced on May 14, 2025. Therefore, there will be no revision to the current earnings forecast.