Press Release

Press Release

Consolidation of ES-CON Japan Ltd.

February 24, 2021
Chubu Electric Power Co.,Inc.

Today, Chubu Electric Power Group decided to acquire additional shares in ES-CON Japan Ltd. ("ES-CON Japan") and convert the company into a consolidated subsidiary assuming that the annual shareholders meeting, which will be held in March 2021, authorizes a special resolution to amend the company's Articles of Incorporation allowing for an increase in the number of shares that may be issued as well as third-party allocation of newly issued shares.

In August 2018, Chubu Electric Power entered into a capital alliance with ES-CON and made the company an equity-method affiliate the following month (announced on August 28, 2018). Subsequently, Chubu Electric Power Group and ES-CON have generated synergies in the real estate business, including the commencement of multiple joint projects principally in the Chubu area.

Further strengthening this capital relationship now will accelerate the real estate business leading to realization of "new forms of community," which is one of the Chubu Electric Power Group's aims, and advance urban development that provides a safe and enjoyable lifestyle for community residents.

In addition, we believe that this consolidation will contribute to achieving our goal of "consolidated ordinary profit of 250 billion yen or more in the second half of the 2020s," which we cited in our Management Vision.

We will continue to respect ES-CON's autonomous and flexible management as a listed company and strive to increase the value of our group companies.

[Synopsis of Additional Share Acquisition]

Share price (unit price)

769 yen per share

No. of shares acquired


Total investment

20,470,011,000 yen

Scheduled payment date

April 05, 2021

Percentage of shares held


[REF]Corporate Profile (as of January 31, 2021)

Chubu Electric Power Co., Inc.


1 Higashi-shincho, Higashi-ku, Nagoya, Aichi, Japan


May 1951


430,777 million yen


Electricity and related businesses, gas business, community support infrastructure, etc.


President & Director: Kingo Hayashi

ES-CON Japan Ltd.


Tokyo Head Office: 2-10-4 Toranomon, Minato-ku, Tokyo
Osaka Head Office: 4-1-1 Fushimimachi, Chuo-ku, Osaka City, Osaka Prefecture


April 1995


6,284 million yen


Real estate sales, real estate leasing, and real estate planning, brokerage and consultation


Takatoshi Ito, President & Representative Director

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