Source disclosure: January 14, 2026
NEXT NOTES Niche Top Mid Small Cap Japan Equity, Net Total Return ETN [205A.T]
TOKYO, Jan 14 (Pulse News Wire) – Next Notes Niche Top Mid Small Cap Japan Equity, Net Total Return ETN (205A.T) decided at its January 14 board meeting to discontinue the civil engineering division of its subsidiary, Saijo Construction Co., Ltd. The move comes after a decline in profitability due to rising costs and difficulty securing skilled workers.
In recent years, the civil engineering sector faced challenges such as soaring material prices and labor costs, making it difficult to maintain profitability. As competition intensifies, the company believes fundamental improvements in profitability are unlikely. By ending the civil engineering operations, Next Notes Niche Top Mid Small Cap Japan Equity, Net Total Return ETN aims to concentrate resources on enhancing the competitiveness and profitability of its residential construction business in Niigata Prefecture.
The civil engineering division's performance for the six months ended October 2025 showed sales of ¥194 million, representing ¥20.29 billion percent of total consolidated revenue. The cessation of the civil engineering business is scheduled for April 30, 2026. Looking ahead, the company does not anticipate significant special losses arising from this decision.
It expects the impact on its overall consolidated results to be minor but will promptly disclose any further developments requiring public notice.
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