Houlihan Lokey Advises MIRAIT ONE

Houlihan Lokey is pleased to announce that MIRAIT ONE Corp. has acquired Kokusai Kogyo Co., Ltd. (Kokusai Kogyo) from The Carlyle Group (Carlyle) at the equity value of approximately US$320 million on a fully diluted basis. The transaction closed on December 20, 2023.

Headquartered in Tokyo, MIRAIT ONE is one of the largest telecommunications construction companies in Japan. Founded in 2010 as a result of the merger and integration by Daimei Corp., Commuture Corp., and TODENTSU Corp., MIRAIT ONE had established proprietary strength in the telecommunications construction, electrical construction, and civil engineering fields. Since the pandemic, MIRAIT ONE has focused on evolving its business model from a comprehensive engineering and service provider to a full-value provider in order to meet the fast-changing demands of social infrastructure and civic life relating to digital and green transformation.

Founded in 1947 and headquartered in Tokyo, Kokusai Kogyo provides construction consulting and infrastructure designing services, operation support systems, and administrative management systems mainly to local governments, and had a revenue of ¥49.6 billion (approximately US$367 million) and an operating profit of ¥2.9 billion (approximately US$21 million) last fiscal year. Kokusai Kogyo has established a leading position in this space in Japan, taking advantage of its geospatial measurement, analysis, and utilization technologies. Kokusai Kogyo was acquired by Carlyle in 2021.

Houlihan Lokey served as the exclusive financial advisor to MIRAIT ONE. This transaction highlights the firm's extensive expertise in the construction consulting and infrastructure space.