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Sekisui Chemical to Increase Sekisui Heim's Capital Amid Reorganization Efforts

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Sekisui Chemical (TYO:4204) will increase the capital of wholly owned subsidiary Sekisui Heim by 10 billion yen, according to a Tokyo bourse filing on Thursday.

The increase will result in Sekisui Heim's capital equaling or rising above 10% that of its parent, making it a specified subsidiary.

The housing subsidiary's capital will total to 13 billion yen after the capital increase.

The move is part of a reorganization that will make Sekisui Heim the regional management company for Tokyo, overseeing group companies in the metropolitan area.

Sekisui Chemical will also consolidate its group companies in Tokyo under Sekisui Heim.

The company scheduled the payment for capital increase and implementation of the organizational restructuring on Oct. 1.

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