U.S. Alterations and Interiors Company “Cross Management Corp.” Joins Shimizu’s Family as a Subsidiary

Shimizu Corporation (President: Kazuyuki Inoue) has recently acquired 51% of the shares in Cross Management Corp. ("CMC"), an alterations and interiors construction company based in New York State, through its North American regional managing corporation, Shimizu America, Inc. ("SAI"). As a result, CMC has become a subsidiary of SAI.

Founded in 2003 in Manhattan, New York, CMC specializes in alterations and interiors construction projects. Its business area covers New York State with a focus on Manhattan, as well as parts of neighboring New Jersey and Delaware. CMC's clients include prominent U.S. companies, such as major financial institutions and developers. The company has also collaborated with Shimizu North America LLC ("SNA"), Shimizu's local subsidiary responsible for construction operations in North America, on multiple projects. Most recently, CMC participated in the Minamoto Kitchoan NY Renovation, a project led by SNA on Fifth Avenue in New York City.

The decision to bring CMC into the Shimizu Group aims to strengthen and expand our engagement in the alterations and interiors construction market, a growing sector in mature countries. While SNA has already been active in this market, its primary clients have traditionally consisted of Japanese companies. By integrating CMC into our group, SAI anticipates creating new business opportunities and expanding project acquisition by enhancing our connections with local clients.

As part of our global business strategy, Shimizu is advancing initiatives to promote the autonomy of our overseas regional offices. In 2024, we introduced an "Overseas In-House Company System" that regards overseas regional offices as an In-House Company, with the ultimate goal of transitioning all overseas regional offices into fully independent subsidiaries. In North America, we have already established a business framework under SAI, which oversees subsidiaries such as SNA and Perigon International Inc., a company specializing in engineering services for chemical and automotive-related manufacturing. Moving forward, CMC will operate as a member of the SAI group.

Shimizu remains committed to pursuing alliances and M&A activities that contribute to the growth and expansion of our global business, with a particular focus on North America and Southeast Asia.