Daiwa House to acquire a 60% stake in Trumark Companies.

The US unit of Daiwa House, Japan's largest homebuilder, agreed to acquire a 60% stake in Trumark Companies, a California-based developer and homebuilder. Financial terms were not disclosed. "Our firm recognizes California as an important market as a part of our North American growth strategy. Development in this state can be challenging and we look forward to working with Trumark and leveraging its track record and unique ability to navigate the complexities of development to achieve our expansion objectives," Nobuya Ichiki, Daiwa House USA President.