Obayashi Corporation
Notice Regarding Investment in New Zealand Solar Power Business and Establishment of New Companies in Connection with Strategic Partnership with Lightyears Group
Announced an investment including a strategic partnership with the New York-based Lightyears Group, making staged investments in New Zealand solar projects through LYOC1. OCEI and OCEINZ1 will be newly established and recapitalized, and 90% of LYOC1 shares will be acquired. Investments will be executed in phases through fiscal 2027; impact on consolidated performance is under review.
Key Figures
- Shareholding ratio of LYOC1: 90% shares
- Acquisition price: 74 million NZD
- Planned new establishment/recapitalization: OCEI and OCEINZ1
AI要約
Overview of the Partnership and Investment
At today's board meeting resolution, a plan was announced to make staged investments in New Zealand solar power projects through LYOC1, which was established by Lightyears Energy Limited. The investment will be executed by acquiring 90% of LYOC1 shares and by newly establishing and recapitalizing OCEI and OCEINZ1. The execution date for the investment is scheduled for November 30, and the capital structure will ultimately affect the shareholding relationships. The aim is to expand renewable energy operations in the New Zealand market and make it a growth driver for the Group.
Future Impact and Schedule
Investments will be executed in stages through fiscal 2027, and the impact on consolidated results for the fiscal year ending March 2027 is currently being examined. Any matters that should be disclosed will be promptly announced. The capital relationships will be structured so that OCEI (a 100% subsidiary), OCEINZ1 (parent company of LYOC1), and LYOC1 (asset holding company) will deploy New Zealand solar projects to project companies.
Obayashi Corporation
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