Sekisui House will launch a tender offer at ¥2,770 a share to make landscaping contractor Gifu Zoen a wholly owned subsidiary, the companies said on 13 November 2026, valuing the company at about ¥9.1bn.
Why Sekisui House, Ltd. is buying Gifu Zoen Co., Ltd.
Sekisui House said its medium-term plan aims to strengthen exterior and landscaping work, including large-scale projects, in both quality and volume, and that full ownership would combine the group's technology, construction capacity and customer base with Gifu Zoen's design and planting expertise.
Deal terms and financing
The price was raised from an initial proposal of ¥2,520 and then ¥2,730 after talks with Gifu Zoen's special committee. It is a 39.48% premium to the 12 November close and a 35.32% premium to the six-month average. Share options will be bought at ¥397,800 each.
Regulatory approvals and timing
The tender offer runs from 16 November 2026 to 13 January 2027. Gifu Zoen's board has expressed support and recommended shareholders tender; a squeeze-out will follow if the offer succeeds.
Market context
Gifu Zoen traces its roots to a landscaping business founded in 1927 and works on garden exterior projects for houses and on public landscape work such as parks, rooftop and wall greening. Sekisui House signed a business alliance with Gifu Zoen in May 2020, took a 10.33% stake under a capital and business alliance that June and raised its holding to 20% in February 2023, making the company an equity-method affiliate.
