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Daiwa House Industry acquires Australia's Rawson Group

Daiwa House Industry Co. Ltd.'s board voted to acquire all the shares of Rawson Group Pty. Ltd., an Australian single-family housing construction and land development company, in a meeting held Nov. 28.

The company carried out a share sale agreement in this regard on the same date.

The move is a part of the Japanese company's strategy to expand its business overseas to achieve net sales of ¥4 trillion, the company said in a release.

Rawson Group is the parent company of Rawson Homes, Thrive Homes and Rawson Communities. The stock of the company is expected to be transferred in January 2018.

As of Nov. 27, US$1 was equivalent to ¥111.09.