FY2019-Q3AchievedAnnual report
「At a meeting of the Board of Directors held on 21 August 2019, the Company resolved to acquire all shares of イエスリノベーション株式会社 and make it a subsidiary. It entered into a share transfer agreement on the same date and acquired the shares on 11 September 2019.
イエスリノベーション株式会社 provides a distinctive renovation service specializing in solutions for vacancies in rental properties. Through thorough rationalization, including the reuse of existing facilities and standardization of designs, it has achieved a low price of ¥25,000 per square meter, approximately one-quarter of conventional renovation costs. In addition, properties it renovates have an average vacancy period of just one month, and rents have risen by approximately 10% on average.」
All shares were acquired and the company was made a subsidiary on 11 September 2019. The acquired company specializes in solutions for vacancies in rental properties and, through the reuse of existing facilities and design standardization, achieves a cost of ¥25,000 per square meter, approximately one-quarter of conventional costs. Its renovated properties have an average vacancy period of one month and a track record of increasing rents by approximately 10% on average. Synergies are expected with RENOSY's real estate sales, real estate investment and property management businesses.