Acquisitions · Homebuilding
Iida's Hajime Construction buys 51% of Utah builder Wright Homes for about $38 million
- Buyer
- Iida Group Holdings (via Hajime Construction) (Tokyo)
- Target
- Wright Homes (Wright & Associates, 51%), Utah
- Value
- About $38.2M (about ¥5.92B) for 51%
- Status
- Agreed March 10, 2026; expected to close March 30, 2026.
- Date
- 2026-03-10
Hajime Construction, part of Iida Group Holdings, agreed to buy 51% of Wright & Associates, the operating company of Wright Homes, through its new US unit Hajime America. Wright Homes, founded in 1994, builds about 250 homes a year in Utah, many of them townhomes for first-time and 55-plus buyers, and had about ¥11.2 billion in sales.
Why it matters
Iida's second US builder after Georgia's Patrick Malloy in 2025. Japanese homebuilders keep buying regional US builders to grow outside a shrinking home market.
About Wright Homes
Wright Homes works mainly north of Utah Lake and is known for its land-buying network in Utah. Its operating company had an operating profit of about ¥2.4 billion in 2025 on its sales, a margin of about 21%, and net assets of about ¥4.7 billion.
A crowded Utah market
This was Hajime Construction's first step into the US. It was not the first Japanese builder in Utah: Misawa Homes bought 51% of Visionary Homes, based in Logan, in 2024. Iida plans to use Wright as a base to expand into other areas and related businesses.
Sources
Kakehashi M&A News home
