Daiwa House Industry Co., Ltd. announced that its Board of Directors voted at an extraordinary meeting on November 28, 2017, to acquire all shares of Rawson Group Pty., Ltd. (hereinafter Rawson Group), a residential housing construction and land development business located in Sydney, New South Wales, Australia, through its wholly-owned subsidiary Daiwa House Australia Pty., Ltd. (hereinafter Daiwa House Australia).

Reasons for the acquisition

The Daiwa House Group 5th Medium-Term Management Plan, which concludes in March 2019, outlines measures for responding to future environment changes and building a platform for achieving net sales of 4 trillion yen. This entails adopting a basic policy of accelerating the expansion of overseas businesses and designating leading nations with stable growth such as the United States and Australia as well as the ASEAN countries, which are expected to see medium- to long-term growth, as core investment areas through which the Daiwa House Group will strive to record net sales of 250 billion yen.

On February 14, 2017, the Daiwa House Group acquired Stanley-Martin Communities, LLC, a single-family housing business mainly operating in Virginia and the surrounding mid-Atlantic states, as a subsidiary of Daiwa House USA Inc. to accelerate the expansion of the Daiwa House Group’s business in the United States.

To further this initiative, the Board of Directors passed a motion at its extraordinary meeting on November 28, 2017, to acquire all shares of Rawson Group, an Australian single-family housing construction and land development business, and executed a share sale agreement to this effect.

Rawson Group is a 40-year-old private corporation focused on land development and the construction of single-family homes in Sydney, New South Wales, and in the Australian Capital Territory (ACT). Rawson Group is the parent entity of Rawson Homes, Thrive Homes and Rawson Communities. The corporate group started 1,188 single-family homes in fiscal 2017 (as of the fiscal year-end of June 30, 2017), making them the second-largest detached homebuilder in the NSW market. The single-family homes sold by Rawson Group consistently win the residential construction industry’s top design awards. Embracing a corporate philosophy of "it's not about being the biggest, it's about being the best," Rawson Group is a trusted company that offers customers the best-quality products and the best service while lifting the standard in the residential construction industry.

Moving forward, the Daiwa House Group will collaborate with Rawson Group to further expand the partner's businesses in Australia. Further, the Daiwa House Group seeks to accelerate business expansion in Australia by leveraging Rawson Group's experience and knowledge related to the residential construction industry in Australia.

For details, please visit

https://prw.kyodonews.jp/prwfile/release/M000427/201711288446/_prw_PA1fl_n65j7v30.pdf

About Daiwa House Industry Co., Ltd.

Code number: 1925 (First Section of Tokyo Stock Exchange)

Representative: Keiichi Yoshii, President and COO

Website: https://www.daiwahouse.co.jp/English/index.html