Asahi Kasei Homes to acquire controlling interest in McDonald Jones Homes
April 19, 2021
Asahi Kasei Homes Corp.
Based on an agreement dated April 16, 2021, Asahi Kasei Homes will increase its ownership stake in McDonald Jones Homes Pty Ltd (MJH) from 40 percent to 80 percent. This acquisition of additional shares will make MJH a consolidated subsidiary of Asahi Kasei Homes.
Asahi Kasei Homes has identified overseas business as a pillar of new business in its current medium-term business plan, and is focused on developing its operations in Australia and North America. In July 2017, Asahi Kasei Homes entered into a capital alliance with MJH, a major detached housing company in New South Wales, Australia.1 Through the alliance, Asahi Kasei Homes’ expertise of industrialized housing provided valuable support for sales and marketing, and helped to reduce costs by shortening the construction period.
Furthermore, in April 2020, Australian steel frame manufacturer Steel Building Systems Australia Pty Ltd was acquired, effectively bringing the framing process in-house for MJH. Greater information sharing between builder and supplier will enable further improvements to both products and production processes. The agreement to acquire a controlling interest in MJH was made in consideration of the company's growing performance and the continuing steady growth of the Australian housing market. With the ongoing cooperation of the current MJH management team, Asahi Kasei Homes will aim for further market expansion and growth in the Australian housing market.
- 1Please refer to https://www.asahi-kasei.com/news/2017/e170801.html for more information.
Profile of McDonald Jones Homes Pty Ltd
- Managing Director
- Andrew Helmers
- Main office
- Newcastle, New South Wales, Australia
- Approx. 890
- Construction of custom-built homes and sale of pre-built homes
- Number of home starts
- 2,761 units (fiscal year ended June 2020)
- 891 million AUD (fiscal year ended June 2020)
MJH is the third largest detached house builder in Australia.