Tokyu Construction Co. on Tuesday named Senior Managing Director Kazuo Ochiai as its new president, replacing Kuniyoshi Ihara, who will continue in his concurrent job as chairman.
The management shakeup is the firm's second since April 1, when Ihara assumed the additional job of president and Yoshiaki Omata was demoted to vice president.
Tokyu Construction said the change was due to Ihara's health.
In February, the firm announced it will issue 50 billion yen in new shares to be allocated to railway operator Tokyu Corp., its parent company. It then announced the plan to have Ihara assume the presidency.
Ochiai, 60, joined Tokyu in 1965 and moved to Tokyu Construction in 1998.