Taisei acquires Toyo Construction, leading to delisting

The tender offer by Taisei Corporation for common shares of Toyo Construction Co., Ltd., which began on August 12, 2025, closed successfully on September 24, 2025. A total of 58,305,532 shares were tendered, exceeding the minimum acquisition volume of 33,035,700 shares. The tender offer price was JPY 1,750 per common share.

Following the settlement on September 30, 2025, Taisei Corporation will become the parent company and principal shareholder of Toyo Construction, holding 61.81% of voting rights. As a result, Toyo Construction will become a consolidated and specified subsidiary of Taisei. Current principal shareholder WK 1 LLC and its joint holders are no longer considered affiliated companies or principal shareholders, having tendered all their shares.

Toyo Construction shares will be delisted from the Tokyo Stock Exchange Prime Market following prescribed procedures, after which they will no longer be tradable. Taisei and Maeda Corporation are expected to become the sole shareholders. The company will announce the timing and detailed procedures for these changes after consulting with the Offeror.