TSE:1803Construction
Shimizu (TSE:1803) Is Up 6.2% After Consolidating Aomi Construction And Issuing ¥20bn Bond – Has The Bull Case Changed?
On 29 January 2026, Shimizu Corporation’s board approved subscribing to a third-party capital increase at Aomi Construction, making Aomi a consolidated and specified subsidiary with capital equivalent to at least one-tenth of Shimizu’s own.
This move, alongside Shimizu’s recent ¥20,000,000,000 unsecured bond issuance maturing in 2031, highlights a meaningful expansion of its construction footprint and financing commitments.
We will now examine how bringing Aomi Construction under full...