October 11, 2022
Company name:
Representative:
Securities code:
Inquiries:

Kajima Corporation
Hiromasa Amano
President and Representative Director
1812(Tokyo Prime, Nagoya Premier)
Sachihiko Mikami
General Manager of Accounting
Department, Treasury Division
Tel. +81-(0)3-5544-1111

Notice Concerning Changes in Specified Subsidiary
Kajima Corporation (the “Company”), at the Board of Directors’ Meeting held today, adopted aresolution concerning changes in specified subsidiary. We hereby inform you of the following.
1.

Reason for the changes

As part of initiatives in the domestic real estate development business, the Company decided toestablish Eaton Real Estate Co. Ltd., and to acquire 100% preferred equities of Ginza Namiki Tokutei
Mokuteki Kaisha (Ginza Namiki TMK) and Ginza Kabuki Tokutei Mokuteki Kaisha (Ginza KabukiTMK) through Eaton Real Estate Co. Ltd.
Among those transactions, Eaton Real Estate Co. Ltd. and Ginza Namiki TMK will become aspecified subsidiary of the Company as each of these companies’ capital amount is equivalent to morethan 10% of the Company’s capital.
2.

Overview of the subsidiary subject to change・Eaton Real Estate Co. Ltd. (a specified subsidiary)(1) Name
Eaton Real Estate Co. Ltd.
7th floor, Fujikage Building, 1-5, Motoakasaka 1-chome,(2) Location
Minato-ku, Tokyo
Job title and name(3)
Takahiko Tsukaguchi, Directorof representative
Buying, selling and leasing of real estate as well as acting agency(4) Description of businessand brokage of such real estate transactions(5) Share capital¥19,700 million (after a capital increase on October 28, 2022)(6) Date of establishment
August 19, 2022
CapitalThe Company owns 100% outstanding shares ofrelationshipthe said company.
Relationship betweenPersonnel(7) the Company andA director is seconded from the Company.
relationshipthe said company
Business
Part of the office space which the Company isrelationshiprenting is subleased to the said company.
Note: Descriptions noted above are based on information expected as of October 31, 2022

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3.

Overview of the subsidiaries to be acquired

・Ginza Namiki TMK (a specified subsidiary)(1) Name
Ginza Namiki Tokutei Mokuteki Kaisha(2) Location
22-10-201, Toranomon 3-chome, Minato-ku, TokyoJob title and name(3)
Kazuhiro Matsuzawa, Directorof representativeAcquisition, administration and disposition of specified assets(4) Description of businessunder the asset securitization plan based on the Act on theSecuritization of Assets(5) Share capital¥11,100 million(6) Date of establishment
July 20, 2017
Ownership and its ratio of(7)
Grosvenor Limited, Japan Branch, 100%
preferred equities
Relationship between
No applicable items to be noted in capital, personnel and business(8) the Company andrelationshipthe said company(9) Operating results and financial positions of the said company for the last three years
December 31, 2019 December 31, 2020 December 31, 2021
As of / Fiscal year ended(Yen)
(Yen)
(Yen)
Net assets
11,931 million
11,432 million
11,437 million
Total assets
28,335 million
27,762 million
27,754 million
Net assets per share
51,430.39
51,496.30
51,519.51
Revenues
895 million
887 million
889 million
Operating profit
356 million
356 million
361 million
Ordinary profit
333 million
333 million
338 million
Net profit
331 million
332 million
337 million
Earnings per share
1,429.96
1,474.44
1,519.06
Dividend per share
1,429.96
1,495.85
1,519.06
・Ginza Kabuki TMK(1) Name(2) Location
Job title and name(3)of representative(4)

Description of business

(5)
(6)

Share capital
Date of establishment
Ownership and its ratio ofpreferred equities
Relationship between
the Company andthe said company

(7)
(8)

Ginza Kabuki Tokutei Mokuteki Kaisha
22-10-201, Toranomon 3-chome, Minato-ku, Tokyo
Kazuhiro Matsuzawa, Director
Acquisition, administration and disposition of specified assets
under the asset securitization plan based on the Act on theSecuritization of Assets¥5,200 million
March 13, 2020Grosvenor Limited, Japan Branch, 100%
No applicable items to be noted in capital, personnel and business
relationship24.

Overview of the counterparty to the acquisition of interests(1) Name
Grosvenor Limited
1910-1917 Jardine House, 1 Connaught Place, Central, Hong(2) Location
Kong
Job title and name(3)
Ian Douglas Mair, Directorof representative
Property investment, provision of managements services and(4) Description of businessbusiness holding(5) Share capital
400,244 thousand Hong Kong Dollars(6) Date of establishment
June 30, 1998
Relationship between
No applicable items to be noted in capital, personnel, business(7) the Company andand related party relationshipthe said company

5.

Number of preferred equities acquired, acquisition costs, and holding before and after acquisition(Ginza Namiki TMK) - (Ratio of interests held: -)Preferred equities held
(1)
before the change(Ginza Kabuki TMK) - (Ratio of interests held: -)Number of preferred(Ginza Namiki TMK) 222,000 units(2)equities to be acquired(Ginza Kabuki TMK) 104,000 units
Preferred equities of above 2 TMKs: about ¥19.0 billion(3) Acquisition costs(including associated expenses)
Preferred equities held
(Ginza Namiki TMK) 222,000 units (Ratio of interest held:100%)(4)after the change(Ginza Kabuki TMK) 104,000 units (Ratio of interest held:100%)

6.

Timetable
Date of resolution at the(1)board of directors’ meeting
Date of conclusion of the(2)agreement
Date of commencement(3)
of interests transfer

7.

October 11, 2022
October 12, 2022 (expected)
October 31, 2022 (expected)

Future outlook
This acquisition has only minor impact on the Company’s consolidated financial performance forthe fiscal year ending March 31, 2023.

Disclaimer: This document is an English translation of the announcement titled “Notice Concerning
Changes in Specified Subsidiary” which is filed with Stock Exchanges in Japan on October 11, 2022.
The Company provides this translation for your reference and convenience only without any warranty
as to its accuracy. In case of any discrepancy between the translation and the Japanese original, thelatter shall prevail.

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