Back to 2006 listOn the Reorganization of Group Companies Eiraku Kaihatsu, Chuden Building, Chubu Greenery and Nittai
September 29, 2006
Chubu Electric Power Co., Inc.
Two new Chubu Electric Group companies, Chuden Real Estate Co., Ltd. and Chuden Haiden Support Co., Ltd., will launch October 1, 2006 after a reorganization of the Group's construction and building affiliates.
The new company Chuden Real Estate Co., Ltd., the result of a merger of Eiraku Kaihatsu Co., Ltd., Chuden Building Co., Ltd. and Chubu Greenery Co., Ltd., will specialize in building services (building management, real estate sales and leasing, building construction, etc.). The establishment of a single business to oversee these various operations will enable the Group to more efficiently maintain the electricity business buildings and other structures it already owns and develop and manage real estate on currently idle properties.
In addition, Eiraku Kaihatsu's functions on parcels related to power distribution will be transferred to Nittai, which performs similar functions, and a new company, Chuden Haiden Support Co., Ltd., will be formed to carry out these functions efficiently.
The reorganization of the four existing companies was previously announced on December 20, 2005, when the basic agreement was reached.
< Overview of reorganization >
| Merger | Spinoff | |
| New company name |
Chuden Real Estate Co., Ltd. | Chuden Haiden Support Co., Ltd. |
| Reorganization Date |
October 1, 2006 | October 1, 2006 |
| President | Shoichi Kinoshita | Atsunori Matsuda |
| Equity capital |
100 million yen | 30 million yen |
| Head office |
2-2-5 Sakae, Naka-ku, Nagoya (inside Denki Bunka Kaikan) |
2-10-1 Higashisakura, Higashi-ku, Nagoya |
| Employees | About 670 | About 440 |
| Business areas |
[Building management] Land and building management and operations [Real estate sales and leasing] Land and building buying and selling, leasing, brokering [Building construction] Construction, facility building, civil engineering, structural design and building [Landscape construction and maintenance] Vegetation / landscape design and installation, green tract and garden maintenance management and operation, etc. [Other] Exhibit and event planning and implementation, cultural facility management, etc. |
[Power distribution-related construction] Clearing of vegetation on power line routes for safety, taking grounding measurements and making improvements, etc. [Parcels for power distribution purposes] Examination, ground surveys, negotiations, etc. concerning ownership and use of lands including power line routes [Other] Sale of grounding materials, pipes, steel fixtures, etc. |
< Reference >
Overview of reorganization
Company profile
| Eiraku Kaihatsu Co., Ltd. | Chuden Building Co., Ltd. | |
| Head Office | 1-13-19 Yoshino, Higashi-ku, Nagoya |
2-2-5 Sakae, Naka-ku, Nagoya |
| Established | April 1957 | June 1960 |
| Equity capital | 100 million yen | 1.214 billion yen |
| Shareholders (as of September 29, 2006) |
Chubu Electric (100%) | Chubu Electric (100%) |
| President | Shoichi Kinoshita | Shoichi Kinoshita |
| Employees (end of FY2005) |
679 | 124 |
| Description of major businesses | • Building construction Construction, facility building, civil engineering, structural design and building [Building management] Land and building management and operations [Real estate sales and leasing] Land and building buying and selling, leasing, brokering [Parcels for power distribution purposes] Examination, ground surveys, negotiations, etc. concerning ownership and use of lands including power line routes |
[Building management] Land and building management and operations [Real estate leasing] Land and building leasing, brokering [Other] Exhibit and event planning and implementation, cultural facility management, etc. |
| Sales turnover (FY2005) |
15.28 billion yen | 6.84 billion yen |
| Chubu Greenery Co., Ltd. | Nittai Co., Ltd. | |
| Head Office | 2-4-2, Hamanaka-cho, Minami-ku, Nagoya | 2-10-1 Higashisakura, Higashi-ku, Nagoya |
| Established | August 1956 | August 1927 |
| Equity capital | 50 million yen | 30 million yen |
| Shareholders (as of September 29, 2006) |
Chubu Electric (100%) | Chubu Electric (100%) |
| President | Shoichi Kinoshita | Atsunori Matsuda |
| Employees (end of FY2005) |
73 | 224 |
| Description of major businesses | [Landscape construction] Vegetation / landscape design and installation [Landscape maintenance] Green tract and garden maintenance, management and operation [Other] Forest management, development, surveying, etc. |
[Power distribution-related construction] Clearing of vegetation on power line routes for safety, taking grounding measurements and making improvements, etc. [Other] Sale of grounding materials, pipes, steel fixtures, etc. |
| Sales turnover (FY2005) |
1.85 billion yen | 5.53 billion yen |
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