Magara Construction Implements MBO

Magara Construction Co., once listed in the 1st section of TSE, which filed for chapter 11 in July 08, has decided to do a management buyout transaction. After bankruptcy, Magara received capital from Dorgan Investment, a Kyushu investment firm, for 100 million yen in September 2009. This time, a team of current management acquired the stake from Dorgan and will try to finalize a restructuring process with help from Hokkoku Bank, Magara's main financing bank.