Source disclosure: February 12, 2026
WAKACHIKU CONSTRUCTION CO.,LTD. [1888.T]
TOKYO — On February 12, 2026, Wakachu Construction Co., Ltd. announced that its board of directors had approved a capital business alliance agreement with Aso Corporation and ACVE Holdings, LLC. The company also expressed support for an open tender offer by ACVE Holdings for its shares.
The decision was made during a board meeting held on the same day, aimed at promoting sustainable growth and enhancing corporate value. Following this resolution, Wakachu Construction entered into a capital business alliance contract with both entities. Additionally, the board endorsed the public tender offer initiated by ACVE Holdings for Wakachu's common stock, leaving it to shareholders to decide whether to participate based on their judgment.
It is worth noting that the tender offer does not aim to delist Wakachu’s shares from the Tokyo Stock Exchange Prime Market. Post-tender, the company's shares will continue to be listed on the Prime Market as per current market regulations.
Wakachu Construction, founded in May 1890 under the name "Kita-Kyushu Wakamatsu Harbor Company," has undergone several transformations over the years. It first listed its shares on the Tokyo Stock Exchange Second Section in October 1961 before moving to the First Section in August 1962. In April 2022, following a review of market classifications by the Tokyo Stock Exchange, the company became listed on the Prime Market. Throughout its history, Wakachu changed its name to Wakatsu Kanko Kabushiki Kaisha in July 1893 and then again to its present name in July 1965. Over time, the company merged with other firms such as Kawada Industry Co., Ltd. and Showa Dredging Co., Ltd., solidifying its position in the construction industry.
Currently, the Wakachu Group comprises ten subsidiaries and one affiliate company, focusing primarily on construction and real estate businesses. Its mission is centered around providing trust and reliability through construction projects, aligning with societal expectations. With the backdrop of robust public investments and private infrastructure spending, coupled with challenges like inflation and labor shortages, Wakachu aims to enhance productivity and promote human resource management.
On the other hand, the Aso Group, established in 1872 by Masao Tatsuo, initially focused on coal mining but diversified into various sectors including healthcare, education, cement manufacturing, and information technology. As of September 30, 2025, the group consists of 98 affiliated companies and 21 associated companies. ACVE Holdings, located in Chiyoda Ward, Tokyo, was set up in December 2021 with a 100% stake from Aso Corporation, aiming to acquire and manage securities.
Through this strategic alliance, Wakachu expects to expand its operational scope by integrating with Aso Group, which lacks significant involvement in port development despite being deeply rooted in diverse industries across Kyushu region. This partnership is anticipated to facilitate knowledge sharing among specialized areas such as marine disaster prevention and mitigation, land-based disaster reduction, and leveraging local networks for broader business opportunities. Furthermore, the collaboration seeks to address Wakachu's identified challenges in overseas expansion and talent acquisition through Aso Group's extensive resources and expertise.
This alignment is expected to strengthen both parties' competitive edge while fostering mutual understanding and commitment towards long-term strategic investment and social contribution. The historical connection between Wakachu and Aso, dating back to the founding era of Wakachu, adds another layer of significance to this partnership, underscoring shared values and aspirations for future growth.
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