Announcement • May 20
Seibu Real Estate Inc. completed the acquisition of e'grand Co.,Ltd (TSE:3294) from Verdissimo co., Ltd, Jutec Corporation and others. Seibu Real Estate Inc. submitted a non binding letter of intent to acquire e'grand Co.,Ltd (TSE:3294) from Verdissimo co., Ltd, Jutec Corporation and others for ¥30 billion on January 19, 2026. Seibu Real Estate Inc. entered into an agreement to acquire e'grand Co.,Ltd from Verdissimo co., Ltd, Jutec Corporation and others on March 31, 2026. A cash consideration valued at ¥4858 per share will be paid by Seibu Real Estate Inc. After the transaction e'grand Co.,Ltd act as wholly owned subsidiary of Seibu Real Estate Inc.
The transaction is subject to minimum tender. The Board of Directors of e'grand Co.,Ltd formed a special committee for the transaction. The tender offer commence from April 1, 2026 to May 18, 2026. The expected completion of the transaction is May 18, 2026.
Deloitte Tohmatsu Financial Advisory LLC acted as financial advisor and fairness opinion provider for Seibu Real Estate Inc. TMI Associates acted as legal advisor for Seibu Real Estate Inc. and e'grand Co.,Ltd. Plutus Consulting Co., Ltd. acted as financial advisor and fairness opinion provider for e'grand Co.,Ltd. Nagashima Ohno & Tsunematsu acted as legal advisor for Seibu Real Estate Inc.
Seibu Real Estate Inc. completed the acquisition of e'grand Co.,Ltd (TSE:3294) from Verdissimo co., Ltd, Jutec Corporation and others on May 18, 2026. On close of the offer, 5,610,751 shares were tendered and will purchase all of the Tendered Shares. Reported Earnings • May 13
Full year 2026 earnings released: EPS: JP¥300 (vs JP¥145 in FY 2025) Full year 2026 results: EPS: JP¥300 (up from JP¥145 in FY 2025). Revenue: JP¥40.1b (up 31% from FY 2025). Net income: JP¥1.83b (up 108% from FY 2025). Profit margin: 4.6% (up from 2.9% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
e'grand Co.,Ltd, Annual General Meeting, Jun 25, 2026 e'grand Co.,Ltd, Annual General Meeting, Jun 25, 2026. 
