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Sunday, December 3, 2023

Sekisui Chemical and Renovell form capital and business alliance! Creating a New Circulating Market for Housing Stock

Sekisui Chemical Housing Company and Renovel have entered into a capital and business alliance!
Combining Sekisui Chemical's advanced industrialization technology with Renovell's proposal capabilities as the No. 1*1 one-stop renovation provider for condominiums, we will promote value enhancement and distribution of housing stock in both the detached house and condominium sectors.

Details of Business Alliance

(President: Tomohiro Yamashita; hereinafter referred to as "Renovel") have entered into a capital and business alliance.

Since 1971, Sekisui Chemical has developed the Sekisui Heim brand of industrialized housing that stands out due to its unit construction method, and has supplied more than 600,000 housing units. Through business development utilizing industrialized technologies and the comprehensive strengths of the Group, including new construction, remodeling, and real estate, Sekisui Chemical has embodied "homes of lasting value over time".

Since its establishment in 2010, Renovell has been offering a one-stop service for finding and renovating existing condominiums. RenoBeru is a one-stop service for finding and renovating existing condominiums. By building a renovation platform that utilizes technology and continues to be close to the lifestyle people really want, we have become the number one one one-stop condominium renovation service provider*1 in terms of condominium renovation sales, and have provided over 5,500 renovated homes to date.

By combining the strengths of the two companies through a strong capital and business partnership, we aim to promote value enhancement and distribution in the stock areas of both detached houses and condominiums, and realize a sustainable, recycling-oriented society where people can continue to live for a long time.

Background and Aims of the Business Alliance

Currently, the increasing number of vacant houses due to Japan's declining population and environmental issues on a global scale are becoming social issues, and there is a need to realize a recycling-oriented society and the SDGs through the use of housing stock. The national government's Basic Plan for Housing and Living Standards calls for the revitalization of the distribution of existing housing with basic performance and history, etc. However, the volume of existing housing distribution has remained flat, and further strengthening of measures is needed.

Renovation has also been confirmed as one of the solutions in a decarbonized society, as it can significantly reduce CO2 emissions and waste emissions compared to reconstructed new construction*2.

This partnership will address two key issues in the revitalization of existing housing distribution: first, the revitalization of the distribution of detached housing*3, which accounts for 80% of Japan's owner-occupied housing stock but has a distribution rate that is only about one-seventh that of condominiums; and second, the improvement of the performance of housing stock*4 that does not meet current insulation performance standards, which accounts for 87% of existing housing stock. The second is to promote performance improvement of the housing stock*4 that does not meet the current insulation performance standards, which accounts for 87% of the existing housing stock.

■Attract customers, increase awareness through synergy of sales networks, and revitalize the market
Renovell's web-based matching platform and partner network
Nationwide*5 after-sales support system that leverages Sekisui Chemical's extensive stock of detached houses and the Group's comprehensive strengths.

Key Points of Business Alliance

In the stock areas of both detached houses and condominiums, the following synergies will be realized by leveraging the resources of both companies to expand the high-quality, high-performance renovation business that meets customer needs.

■ Providing high performance and comfortable living space through synergy of renovation technology and planning capabilities
Robust frame performance by Sekisui Chemical's industrialized technology and renovation method for high-performance condominiums
Renovate" is the company's extensive condominium renovation know-how and planning and design capabilities.

Comments from each company

Toshiyuki Kamiyoshi, Director, Senior Managing Executive Officer, President of Housing Company, Sekisui Chemical Co.

Sekisui Chemical aims to be a comprehensive housing construction and real estate business with highly industrialized housing technology at its core, based on the philosophy of "providing homes that are friendly to the global environment and can be lived in comfort and with peace of mind for 60 years or more. Solving social issues in housing stock is an extremely important mission, and as a frontier area, we have developed the purchase and resale "BeHaim" and the condominium renovation "MaruRino". We are confident that we can further expand "customer value" and "business value" in these frontier areas by promoting various collaborations utilizing Renovell's assets and network, and will further accelerate ESG management to realize a sustainable society.

Tomohiro Matsushita, Representative Director, Renovell, Inc.

We are very pleased to welcome Sekisui Chemical as a shareholder and to collaborate with them toward our mutual mission. Renovell's mission is to "make Japanese life the most beautiful and smartest in the world. Renovell aims to realize a recycling-oriented society where everyone can enjoy a home and lifestyle that is friendly to the global environment and fits their own lifestyle, while transforming individual, social, and industrial issues into value. Sekisui Chemical is a senior company that has been making "homes" and "living" in Japan sustainable and "smart" by utilizing advanced technology in industrialized housing that is representative of Japan. We feel that by combining our knowledge in the condominium field with Renovell's knowledge in the condominium field, we can promote renovation and performance improvement in the detached house field, which accounts for 80% of Japan's housing stock, and bring about a major chemical change in "housing" and "living" in Japan.

About Sekisui Chemical

name of companySekisui Chemical Co.
EstablishmentMarch 1947
LocationOsaka Head Office 4-4, Nishitenma 2-chome, Kita-ku, Osaka
Tokyo Head Office 10-4, Toranomon 2-chome, Minato-ku, Tokyo
representativeKeita Kato, President and Representative Director
Business OverviewHousing business, renovation business, real estate business, housing and lifestyle services business, electric power trading business, community development business (Housing Company only)
uniform resouce locatorCorporate Site https://www.sekisui.co.jp/
Sekisui Heim Site https://www.sekisuiheim.com/

About Renovel

name of companyRenovell Corporation
EstablishmentApril 2010
LocationHead Office Tatamura Aoyama Building, 4-35, Minami-Aoyama 5-chome, Minato-ku, Tokyo
representativeTomohiro Yamashita, Representative Director
Business OverviewRenovation platform business utilizing technology (one-stop renovation of condominiums and houses for individuals; planning, design, construction and operation of renovation of single buildings, stores, offices and commercial facilities for corporations; Renovation DX platform for partner companies)
uniform resouce locatorCorporate Site https://renoveru.co.jp/
Renovate. Sitehttps://www.renoveru.jp/
Urban Creation Business Service Site https://renoveru.co.jp/citycreate/

1 The company ranked first as a one-stop service provider in the "Condominium Renovation Sales Ranking 2022" in the Remodeling Industry Newspaper No. 1526 (published on October 24, 2022). One-stop service" refers to a one-stop service that provides everything from the purchase of existing properties to the design and construction of renovations, and a one-stop service provider is defined as a company in which sales from one-stop services account for the majority. Sales composition of Sumitomo Realty & Development Group and Nikka Home Group is based on Renovell research from each company's website.

2 Announced on November 30, 2021, "Renovation reduces CO2 emissions by 761 TP3T and waste emissions by 96%. Industry-academia joint research to realize a decarbonized society" (Renovate, Inc.)https://renoveru.co.jp/news/5273

3 Ministry of Land, Infrastructure, Transport and Tourism data, "The State of Japan's Housing Stock (Supplementary Data)," p. 31, "Comparison of the Liquidity of Detached Houses and Condominiums.https://www.mlit.go.jp/policy/shingikai/content/001323215.pdf

4 Ministry of Land, Infrastructure, Transport and Tourism, "Ministry of Land, Infrastructure, Transport and Tourism, Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism," p. 48, "Heat Insulation Performance of Housing Stock," Document 1-3, 46th Building Subcommittee of the Council for Social Infrastructure Development, 1992.https://www.mlit.go.jp/policy/shingikai/content/001487476.pdf

5 Excluding Okinawa and some remote island areas.

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