Toyo Construction plans share consolidation, delisting after Taisei tender offer

Toyo Construction will hold an extraordinary general meeting of shareholders on November 13, 2025, to approve a share consolidation and amendments to its articles of incorporation. The share consolidation will merge 18,812,083 shares into one, aiming to make Taisei Construction and Maeda Construction Co., Ltd. the sole shareholders.

This action follows Taisei Construction's tender offer, which concluded on September 24, 2025, resulting in Taisei holding 58,305,532 shares (61.81%) of Toyo Construction. Post-consolidation, Toyo Construction's common stock will be designated for delisting from November 13, 2025, to December 15, 2025, with delisting effective December 16, 2025.

Toyo Construction's board of directors also resolved to cancel 310,764 treasury shares, effective December 17, 2025. This cancellation is conditional on the approval of the share consolidation. Proceeds from fractional share sales after the consolidation will be paid to eligible shareholders at 1,750 yen per share.