Notice Regarding the Organizational Structure Change
Note: This English document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translation and the Japanese original, the Japanese original shall prevail.
Tosei Corporation assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
To whom it may concern
November 24, 2017
Tosei Corporation
Toranomon Tosei Building, 4-2-3 Toranomon, Minato-ku, Tokyo
President and CEO: Seiichiro Yamaguchi
Securities code: 8923 (Tokyo Stock Exchange, First Section)
S2D (Singapore Exchange, Mainboard)
Contact: Director and CFO: Noboru Hirano
TEL: +81-3-3435-2865
Notice Regarding the Organizational Structure Change
Tosei Corporation (the “Company”) hereby announces that the Board of Directors at the meeting held today has resolved the following organizational structure change.
1. Organizational Structure Change
We will establish new business organizations as part of the development of systems to promote the next medium-term management plan that we are currently developing.
I. Group Strategy Department
II. Asset Solution Department 1 Section 3
III. Asset Solution Department 3 Section 3
2. Main operations of each organization
I. Group Strategy Department
Strengthening of Group governance and development of systems to promote M&A
In the Group, the quantitative expansion of its business, such as the expansion of business size and advancement into peripheral business areas, as well as increases in subsidiaries and employees using M&A and diversification of the Group’s business, are progressing, and the Group is in a situation where it very much needs to improve its management efficiency and the effectiveness of cross-cutting risk management across the Group. For this reason, we will manage risks and compliance, etc., including those of Group companies, in a comprehensive manner by establishing a Group Strategy Department.
In addition to strengthening the Group governance function above, we will also promote M&A of companies with real estate holdings and peripheral business operators exclusively and strategically for the purpose of establishing a new business foundation.
II. Asset Solution Department 1 Section 3
Further strengthening of purchase and sales
To further strengthen our purchase and sales in the Revitalization Business and the Development Business, the growth drivers of the Group, we will set up Section 3 under the current Asset Solution Department 1.
III. Asset Solution Department 3 Section 3
Preparation for a real estate specified joint enterprise using crowdfunding
Ahead of the solicitation of investment through crowdfunding based on the Real Estate Specified Joint Enterprise Act (Act No. 77 of 1994 including subsequent amendments), which will be revised and enforced on December 1, 2017, and the implementation of a specified joint real estate venture that will become the destination of the investment, we will set up Section 3 under the current Asset Solution Department 3 to proceed with preparations such as the acquisition of approvals and licenses and the study of product details.
As an approach to crowdfunding, we will study the design and development of products using the expertise in value regeneration we have cultivated in our Revitalization Business and Fund and Consulting Business.
※As of today, the Company has not obtained the permission for the business in Item 3 (Type 3 Business) of Article 2, Paragraph 4 of the Real Estate Specified Joint Enterprise Act and the business in Item 4 of the same Article (Type 4 Business) that are defined in the same paragraph.
The above image is the scheme assumed at this moment. It is subject to change following future study.
3. Implementation date
We plan to establish the new organizations on December 1, 2017, which is the beginning of the new fiscal year (ending November 30, 2018).
End
