Tobishima Corporation to Subsidiarize Multiplex, a Construction Company Operating in Australia, the UK, and Canada

Tobishima Corporation (headquartered in Minato-ku, Tokyo; President: Toshimi Sato) announces its decision to make Multiplex Global Limited (hereinafter referred to as "Multiplex")—a company engaged in construction operations in Australia, the United Kingdom, and Canada—a consolidated subsidiary.

Quay Quarter Tower (office), constructed by Multiplex in Sydney, Australia

The Tobishima Group aims to establish a business structure where domestic construction remains the core, while non-domestic operations generate performance equal to or exceeding that of domestic construction, in pursuit of sustainable growth.

Regarding overseas construction operations, the group is expanding primarily in North America and Southeast Asia, where construction market growth is anticipated. Additionally, entering and expanding into markets with stable growth potential is a key strategic priority. The group has long sought opportunities for full-scale entry into Australia, where strong construction demand is expected due to population growth and urban development.

Multiplex is one of the leading Tier 1 construction firms in the Australian market, highly regarded in high-value sectors such as high-rise buildings, hospitals, and data centers, and maintains a robust order backlog. In the UK, the company has established a strong competitive position with extensive experience in office and mixed-use developments, primarily in London. In Canada, the company continues steady growth, with further expansion expected in the future.

Tobishima Corporation has previously collaborated with Multiplex on the construction of the Sydney Olympic Main Stadium and has since been discussing the establishment of a new strategic partnership. As a result, the company has decided to acquire the shares of Multiplex’s parent holding company, thereby making Multiplex a consolidated subsidiary. Going forward, Tobishima will leverage its management resources to support Multiplex’s further growth and enhance the group’s competitiveness in international markets.

Through the subspecialization of Multiplex, the Tobishima Group will formally enter the construction markets in Australia and the UK, while further strengthening its business foundation in Canada. This will accelerate global business expansion and contribute to sustainable growth and increased corporate value.

[Reference] 1. Overview of Multiplex

Company Name

Multiplex Global Limited

Established (Note 1)

2016

Headquarters

London, United Kingdom

Business Activities

Construction operations in Australia, the UK, and Canada

Operating Regions

Australia, the UK, Canada

Revenue Scale (Note 2)

Approx. USD 3,800 million (FY2025 ending December)

EBITDA (Note 2)

Approx. USD 62 million (FY2025 ending December)

Number of Employees

Approx. 2,500

URL

https://www.multiplex.global/

Note 1: Multiplex was established as part of a business restructuring by its current parent company. It conducts construction operations through 100% subsidiaries in each country and region. The original Australian entity, which served as the predecessor, was founded in 1962 and has been engaged in construction primarily in Australia for over 60 years.

Note 2: Operations in certain countries and regions with minimal current activity are scheduled to be transferred to the existing parent company prior to the acquisition. Therefore, the figures listed here differ from the scope of operations being acquired by Tobishima.

2. Acquisition Overview

Share Purchase Agreement Signed

June 18, 2026

Planned Share Transfer Date

Late September 2026 onward (subject to regulatory approvals in respective countries)

Share Acquisition Ratio

100%

3. Key Projects by Multiplex

Sydney Fish Market (commercial facility, Sydney)

New Footscray Hospital (hospital, Melbourne)

Western Sydney International Airport Terminal (airport, Sydney)

ECU City Campus (university, Perth)

30 Grosvenor Square (commercial facility, London)

Etobicoke Civic Centre Precinct (public facility, Ontario)

Multiplex projects in Sydney