Yomiuri Shimbun Staff Writer
Daiwa House Industry Co. has announced that it will enter the European single-family housebuilding business for the first time. It will acquire a roughly 30% stake in the holding company of Miller Homes Ltd., a major British homebuilder. Although the exact investment amount has not been disclosed, it is expected to be in the range of tens of billions of yen.
Against the backdrop of Japan's declining population, the company will scale back its business of single-family homebuilding in regional areas of Japan while focusing on overseas where growth is anticipated.
Miller Homes ranks sixth in terms of homes built in the United Kingdom, with approximately 5,000 homes delivered in fiscal 2025. Daiwa House will acquire shares from funds managed by the U.S. investment firm Apollo Global Management Inc., with the transaction scheduled to be completed in December.
Daiwa House plans to restructure its domestic business -- including withdrawing from the sale of new single-family homes in 23 prefectures in April 2027 -- while simultaneously strengthening its overseas business. The company currently operates in 27 countries and regions outside Japan. In Europe, it established a local subsidiary in the Netherlands in 2020 and has since focused on modular construction.
Going forward, Daiwa House aims to supply 7,000 single-family homes annually in the United Kingdom through Miller Homes. A Daiwa House spokesperson stated, "The United Kingdom faces a severe housing shortage and is a robust market."
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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.
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