Worth reading
50Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
300
¥100 million (target renovation business revenue in 2030)Wording
Conditional
How definitive the wording is.This transaction
This organizational reorganization (Absorption-Type Mergers ① and ② and the consolidation of functions related to the renovation business)Counterparty株式会社安江工務店, 株式会社リビングサーラ, サーラ住宅株式会社, サーラハウスサポート株式会社, サーラＥ＆Ｌ名古屋株式会社
Disclosing companySALA CORPORATION
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
株式会社安江工務店: • Renovation business • New housing business • Real estate brokerage business, 株式会社リビングサーラ: • Renovation business • Interior sales business • Real estate brokerage business, サーラ住宅株式会社: • New housing business • Sales of subdivision housing and land, サーラハウスサポート株式会社: • Renovation business • Inspections and construction management, サーラＥ＆Ｌ名古屋株式会社: Functions related to the renovation business (other business activities: Not disclosed)
Location 株式会社安江工務店: Naka-ku, Nagoya, Aichi Prefecture, 株式会社リビングサーラ: Toyohashi, Aichi Prefecture, サーラ住宅株式会社: Toyohashi, Aichi Prefecture, サーラハウスサポート株式会社: Toyohashi, Aichi Prefecture, サーラＥ＆Ｌ名古屋株式会社: Not disclosedShare capital 株式会社安江工務店: ¥50 million, 株式会社リビングサーラ: ¥90 million, サーラ住宅株式会社: ¥300 million, サーラハウスサポート株式会社: ¥80 million, サーラＥ＆Ｌ名古屋株式会社: Not disclosedDate of incorporation 株式会社安江工務店: 2 June 1975, 株式会社リビングサーラ: 20 July 1994, サーラ住宅株式会社: 17 November 1969, サーラハウスサポート株式会社: 17 December 1998, サーラＥ＆Ｌ名古屋株式会社: Not disclosed
Net Sales株式会社安江工務店: ¥5,237 million (the fiscal year ended immediately before 30 November 2025), 株式会社リビングサーラ: ¥2,728 million (the fiscal year ended immediately before 30 November 2025), サーラ住宅株式会社: ¥13,749 million (the fiscal year ended immediately before 30 November 2025), サーラハウスサポート株式会社: ¥1,471 million (the fiscal year ended immediately before 30 November 2025), サーラＥ＆Ｌ名古屋株式会社: Not disclosed
Operating profit株式会社安江工務店: ¥303 million (the fiscal year ended immediately before 30 November 2025), 株式会社リビングサーラ: ¥93 million (the fiscal year ended immediately before 30 November 2025), サーラ住宅株式会社: ¥264 million (the fiscal year ended immediately before 30 November 2025), サーラハウスサポート株式会社: ¥12 million (the fiscal year ended immediately before 30 November 2025), サーラＥ＆Ｌ名古屋株式会社: Not disclosed
Net income for the current fiscal year株式会社安江工務店: ¥135 million (the fiscal year ended immediately before 30 November 2025), 株式会社リビングサーラ: ¥54 million (the fiscal year ended immediately before 30 November 2025), サーラ住宅株式会社: ¥285 million (the fiscal year ended immediately before 30 November 2025), サーラハウスサポート株式会社: ¥14 million (the fiscal year ended immediately before 30 November 2025), サーラＥ＆Ｌ名古屋株式会社: Not disclosed
Net assets株式会社安江工務店: ¥2,737 million (as of 30 November 2025), 株式会社リビングサーラ: ¥462 million (as of 30 November 2025), サーラ住宅株式会社: ¥7,045 million (as of 30 November 2025), サーラハウスサポート株式会社: ¥445 million (as of 30 November 2025), サーラＥ＆Ｌ名古屋株式会社: Not disclosed
Consideration and expenses
Type of ConsiderationMixed (shares for Absorption-Type Merger ① and no consideration for Absorption-Type Merger ②)
Merger ratio/share exchange ratioAbsorption-Type Merger ①: The number of common shares of 安江工務店 allocated will be equal to the number of shares of リビングサーラ held by our company multiplied by 160. 安江工務店 will be the surviving company and リビングサーラ will be the disappearing company. Absorption-Type Merger ②: As this is a merger between a wholly owned parent company and its wholly owned subsidiary, no shares, cash or other assets will be allocated. サーラ住宅 will be the surviving company and サーラハウスサポート will be the disappearing company.
Impact on Business Performance
As this organizational reorganization involves reorganizing consolidated subsidiaries of our company, its impact on consolidated results for the current fiscal year will be limited.
Procedures and assumptions
Conditions Precedent to ExecutionShareholders' meeting resolutions of each party to Absorption-Type Mergers ① and ② are scheduled for 24 August 2026.
Management structure after acquisition安江工務店 is scheduled to change its corporate name to 株式会社サーラリフォーム. Its business activities will comprise the renovation business, new housing business, real estate brokerage business and interior sales. The representative has not been determined. Employee treatment is Not disclosed.
| Item | Details |
|---|---|
| Transaction name | This organizational reorganization (Absorption-Type Mergers ① and ② and the consolidation of functions related to the renovation business) |
| Counterparty name | 株式会社安江工務店, 株式会社リビングサーラ, サーラ住宅株式会社, サーラハウスサポート株式会社, サーラＥ＆Ｌ名古屋株式会社 |
| Name of the Subject Company | 株式会社リビングサーラ, サーラハウスサポート株式会社, 株式会社安江工務店 (to be renamed 株式会社サーラリフォーム following the merger), サーラ住宅株式会社 |
| Business Description of the Subject Company | 株式会社安江工務店: • Renovation business • New housing business • Real estate brokerage business, 株式会社リビングサーラ: • Renovation business • Interior sales business • Real estate brokerage business, サーラ住宅株式会社: • New housing business • Sales of subdivision housing and land, サーラハウスサポート株式会社: • Renovation business • Inspections and construction management, サーラＥ＆Ｌ名古屋株式会社: Functions related to the renovation business (other business activities: Not disclosed) |
| Location of the Subject Company | 株式会社安江工務店: Naka-ku, Nagoya, Aichi Prefecture, 株式会社リビングサーラ: Toyohashi, Aichi Prefecture, サーラ住宅株式会社: Toyohashi, Aichi Prefecture, サーラハウスサポート株式会社: Toyohashi, Aichi Prefecture, サーラＥ＆Ｌ名古屋株式会社: Not disclosed |
| Capital Stock of the Subject Company | 株式会社安江工務店: ¥50 million, 株式会社リビングサーラ: ¥90 million, サーラ住宅株式会社: ¥300 million, サーラハウスサポート株式会社: ¥80 million, サーラＥ＆Ｌ名古屋株式会社: Not disclosed |
| Date of Establishment of the Subject Company | 株式会社安江工務店: 2 June 1975, 株式会社リビングサーラ: 20 July 1994, サーラ住宅株式会社: 17 November 1969, サーラハウスサポート株式会社: 17 December 1998, サーラＥ＆Ｌ名古屋株式会社: Not disclosed |
| Net Sales of the Subject Company | 株式会社安江工務店: ¥5,237 million (the fiscal year ended immediately before 30 November 2025), 株式会社リビングサーラ: ¥2,728 million (the fiscal year ended immediately before 30 November 2025), サーラ住宅株式会社: ¥13,749 million (the fiscal year ended immediately before 30 November 2025), サーラハウスサポート株式会社: ¥1,471 million (the fiscal year ended immediately before 30 November 2025), サーラＥ＆Ｌ名古屋株式会社: Not disclosed |
| Operating Profit of the Subject Company | 株式会社安江工務店: ¥303 million (the fiscal year ended immediately before 30 November 2025), 株式会社リビングサーラ: ¥93 million (the fiscal year ended immediately before 30 November 2025), サーラ住宅株式会社: ¥264 million (the fiscal year ended immediately before 30 November 2025), サーラハウスサポート株式会社: ¥12 million (the fiscal year ended immediately before 30 November 2025), サーラＥ＆Ｌ名古屋株式会社: Not disclosed |
| Net Income of the Subject Company | 株式会社安江工務店: ¥135 million (the fiscal year ended immediately before 30 November 2025), 株式会社リビングサーラ: ¥54 million (the fiscal year ended immediately before 30 November 2025), サーラ住宅株式会社: ¥285 million (the fiscal year ended immediately before 30 November 2025), サーラハウスサポート株式会社: ¥14 million (the fiscal year ended immediately before 30 November 2025), サーラＥ＆Ｌ名古屋株式会社: Not disclosed |
| Net Assets of the Subject Company | 株式会社安江工務店: ¥2,737 million (as of 30 November 2025), 株式会社リビングサーラ: ¥462 million (as of 30 November 2025), サーラ住宅株式会社: ¥7,045 million (as of 30 November 2025), サーラハウスサポート株式会社: ¥445 million (as of 30 November 2025), サーラＥ＆Ｌ名古屋株式会社: Not disclosed |
| Type of Consideration | Mixed (shares for Absorption-Type Merger ① and no consideration for Absorption-Type Merger ②) |
| Merger ratio/share exchange ratio | Absorption-Type Merger ①: The number of common shares of 安江工務店 allocated will be equal to the number of shares of リビングサーラ held by our company multiplied by 160. 安江工務店 will be the surviving company and リビングサーラ will be the disappearing company. Absorption-Type Merger ②: As this is a merger between a wholly owned parent company and its wholly owned subsidiary, no shares, cash or other assets will be allocated. サーラ住宅 will be the surviving company and サーラハウスサポート will be the disappearing company. |
| Number of shares acquired | Absorption-Type Merger ①: Common shares of 安江工務店 equal to the number of shares of リビングサーラ held by our company multiplied by 160 (リビングサーラ has 1,800 issued shares). The number of voting rights is Not disclosed. Absorption-Type Merger ②: No shares will be allocated. |
| Voting rights ownership percentage | Before 安江工務店: 99.88%; サーラ住宅: 100% → after サーラリフォーム (formerly 安江工務店): 99.90%. The percentage for サーラ住宅 following this organizational reorganization is Not disclosed. |
| Impact on Business Performance | As this organizational reorganization involves reorganizing consolidated subsidiaries of our company, its impact on consolidated results for the current fiscal year will be limited. |
| Date of board resolution | 6 July 2026 (安江工務店 and リビングサーラ), 2 July 2026 (サーラ住宅), 3 July 2026 (サーラハウスサポート), 7 July 2026 (our company) |
| Contract Date | 8 July 2026 (Absorption-Type Mergers ① and ②) |
| Execution Date / Effective Date | 1 December 2026 (effective date of Absorption-Type Mergers ① and ②) |
| Conditions Precedent to Execution | Shareholders' meeting resolutions of each party to Absorption-Type Mergers ① and ② are scheduled for 24 August 2026. |
| Management structure after acquisition | 安江工務店 is scheduled to change its corporate name to 株式会社サーラリフォーム. Its business activities will comprise the renovation business, new housing business, real estate brokerage business and interior sales. The representative has not been determined. Employee treatment is Not disclosed. |
Items this document does not state (11)
Acquisition priceExpenses other than the acquisition priceTender offer priceMinimum number of shares to be purchasedTender offer periodFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Valuation methodologyIndependent valuation institutionSpecial Committee
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The purpose is to respond to the shift from a market centered on new construction to one that utilizes high-quality existing housing, the vacant-house issue and the shortage of construction personnel, and to accelerate the establishment and expansion of a stock housing business model centered on renovation.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.