OBAYASHI CORPORATION (Head Office: Minato-ku, Tokyo; President: Toshimi Sato) hereby announces that it has decided to make Multiplex Global Limited ('Multiplex'), a company operating construction businesses in Australia, the United Kingdom and Canada, a subsidiary.

The Obayashi Group has defined the direction of its sustainable growth strategy as establishing a Group-wide business structure centered on the domestic construction business, in which businesses other than domestic construction generate performance equal to or greater than that of the domestic construction business. The Group aims to build a future business structure to achieve this goal.

The Obayashi Group has been expanding its overseas construction business, particularly in North America and Southeast Asia, where market growth is expected. In addition, the Group has been exploring opportunities to enter and expand into stable and high-growth markets. Australia has been identified as one of the most important markets, supported by population growth, urban development demand, and stable economic conditions.

Multiplex is one of the leading Tier 1 construction companies in Australia, with a strong reputation for delivering high value-added projects, including high-rise buildings, hospitals, and data centers, and maintains a substantial order backlog. In the United Kingdom, particularly in London, it has an established track record in office and mixed-use developments, and it has built a strong competitive position. Also, given the steady growth in Canada, further business expansion is expected in the future.

Following discussions regarding a strategic partnership with Multiplex, with whom Obayashi Corporation previously collaborated on the main stadium for the Sydney Olympic Games, Obayashi Corporation has decided to acquire the shares of its parent holding company and make Multiplex a consolidated subsidiary.