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daiwahouse.com

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Investments

18

Partners & Customers

3

About Daiwa House Group

Daiwa House Group (TYO: 1925, OSE: 1925) is a homebuilding company specializing in prefabricated houses. The company is also engaged in the construction of factories, shopping centers, health care facilities, the management and operation of resort hotels, golf courses, and fitness clubs.

Daiwa House Group Headquarter Location

3-3-5 Umeda Kita-ku

Osaka, 530-8241,

Japan

+81-3-5214-2813

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Research containing Daiwa House Group

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CB Insights Intelligence Analysts have mentioned Daiwa House Group in 1 CB Insights research brief, most recently on Dec 13, 2021.

Latest Daiwa House Group News

Daiwa House Logistics Trust’s Singapore IPO 9.5 Times Subscribed

Nov 28, 2021

Mingtiandi Username 2021/11/28 Daiwa House’s combination of Japanese and Southeast Asian opportunities proved compelling to investors Units of Daiwa House Logistics Trust began trading Friday afternoon on the Singapore Exchange after the Japan-focused industrial REIT’s IPO proved a smash hit with investors. Priced at S$0.80 per unit, the public offering comprised an international placement of 219,438,000 units to investors outside the US and a placement of 25 million units to the public in Singapore. Signs pointed to a subscription rate of 4.5 times for the international placement and 9.5 times for the Singapore public offering, the latter of which received 7,543 valid applications for 236,990,660 units, DHLT’s manager said Thursday in a release . The REIT’s cornerstone investors subscribed for 336,062,000 units, representing 49.8 percent of outstanding units at the IPO. “We are pleased to have received such strong support from cornerstone, institutional and retail investors for our offering,” said Takeshi Fujita, chief executive of the trust’s manager. “We believe that this is testament to the attractiveness of our portfolio of high-quality modern logistics properties, as well as the strength of our sponsor — Daiwa House Industry Co Ltd, one of the largest construction and real estate development companies in Japan.” Strong Interest Seen The manager said the international placement attracted interest from a mix of institutional investors, insurance firms, multi-strategy funds, family offices and high-net-worth individuals, the REIT’s manager said in its statement, with Credit Suisse, DBS Bank, Nomura and Bangkok Life Assurance among the cornerstone backers. Daiwa House chief executive and president Keiichi Yoshii DHLT had sought to raise S$575.5 million ($423 million) from the public offering that closed Wednesday, including S$540 million from the public offering and the issuance of Daiwa House’s subscription units and the cornerstone investors’ units, plus S$35.5 million from the issuance of perpetual securities. That capital haul would make this week’s debut the biggest IPO on the Singapore Exchange since materials maker Nanofilm Technologies International raised $346 million in October 2020, Bloomberg reported . The trust’s seed portfolio comprises 14 warehouse assets across Japan valued at S$952.9 million and covering a net lettable area of 423,920 square metres (4,563,037 square feet), according to a final prospectus released last Friday . The portfolio’s acquisition cost is S$840.5 million, representing an 11.8 percent discount to its value as appraised by Savills and CBRE. The 14 seed assets have a weighted average lease expiry by occupied NLA of 7.2 years, an average age of 3.7 years and an occupancy rate of 96.3 percent. ASEAN Ambitions DHLT’s seed portfolio features six properties in Greater Tokyo, including the largest and highest-valued asset, DPL Kawasaki Yako, a 93,159 square metre facility appraised at JPY 20.75 billion ($180 million). Other large holdings include the 60,347 square metre DPL Sapporo Higashi Kariki on the island of Hokkaido, valued at JPY 12.25 billion, and the 63,119 square metre DPL Sendai Port northeast of Tokyo, valued at JPY 12.6 billion. While DHLT is the first Singapore-listed REIT to concentrate on Japanese industrial properties, the acquisition pipeline also includes 11 assets in Indonesia, Vietnam and Malaysia. The trust’s manager views the ASEAN region as a key area of focus given demand for overseas logistics and manufacturing bases, particularly from Japanese-based tenants. “The sponsor has granted a right of first refusal to DHLT over the sponsor’s pipeline of assets in Southeast Asia and Japan,” Fujita said. “With committed support from the sponsor and backed by the attractive fundamentals of the logistics market in Japan and Southeast Asia, we aim to generate stable distributions for unitholders, while achieving long-term growth.” When factoring in the acquisition pipeline Southeast Asia and Japan, the portfolio’s potential size is 42 assets and 1,536,000 square metres. Founded in 1955, sponsor Daiwa House has developed 1.9 million residential units and completed 54,900 commercial facility projects. A Nikkei survey conducted in June found the Osaka-based group to be the most recognisable logistics asset brand and developer in Japan. Related Stories

Daiwa House Group Investments

18 Investments

Daiwa House Group has made 18 investments. Their latest investment was in airCloset as part of their Corporate Minority on September 9, 2018.

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Daiwa House Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/27/2018

Corporate Minority

airCloset

Yes

1

9/6/2018

Series D

seven dreamers laboratories

$9.02M

No

4

9/29/2017

Series B

Hacobu

Yes

2

6/27/2017

Corporate Minority

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$99M

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10

4/3/2017

Corporate Minority

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10

Date

9/27/2018

9/6/2018

9/29/2017

6/27/2017

4/3/2017

Round

Corporate Minority

Series D

Series B

Corporate Minority

Corporate Minority

Company

airCloset

seven dreamers laboratories

Hacobu

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Amount

$9.02M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

1

4

2

10

10

Daiwa House Group Acquisitions

5 Acquisitions

Daiwa House Group acquired 5 companies. Their latest acquisition was CastleRock Communities on August 10, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/10/2021

$99M

Corporate Majority

1

12/21/2020

Growth Equity

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$99M

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10

1/21/2020

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$99M

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10

4/27/2018

Series B

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$99M

$99M

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10

10/26/2016

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$99M

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10

Date

8/10/2021

12/21/2020

1/21/2020

4/27/2018

10/26/2016

Investment Stage

Growth Equity

Series B

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Corporate Majority

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Sources

1

10

10

10

10

Daiwa House Group Partners & Customers

3 Partners and customers

Daiwa House Group has 3 strategic partners and customers. Daiwa House Group recently partnered with Continental Holdings on December 12, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

12/3/2020

Partner

Continental Holdings

Taiwan

Continental seals deal with Daiwa House

Continental Development Corp yesterday sealed an agreement with Daiwa House Industry Co to develop two buildings in Kaohsiung 's central area , the first foray into the city 's property market for both firms .

1

9/19/2019

Partner

Askul, Mitsui Fudosan, and Hacobu

Japan

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10

10/14/2010

Partner

Fujitsu

Japan

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10

Date

12/3/2020

9/19/2019

10/14/2010

Type

Partner

Partner

Partner

Business Partner

Continental Holdings

Askul, Mitsui Fudosan, and Hacobu

Fujitsu

Country

Taiwan

Japan

Japan

News Snippet

Continental seals deal with Daiwa House

Continental Development Corp yesterday sealed an agreement with Daiwa House Industry Co to develop two buildings in Kaohsiung 's central area , the first foray into the city 's property market for both firms .

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Sources

1

10

10

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