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During fiscal 2000, Kajima's overseas
Group companies recorded total construction business contract awards
and revenues of\76.2 billion and \95.2 billion, respectively, the third
consecutive year of decline in those figures. A principal cause of this
downtrend was a persistent slump in the overseas capital investments
of Japanese companies, which are Kajima's main target. Another reason
was Kajima's careful approach toward local projects characterized by
fierce competition and low profitability. On the other hand, as orders
from growing communications companies in North America strengthened
during 2000, the overall level of overseas orders is expected to move
toward recovery.
In Southeast Asia, despite reports of a recovery from the economic and
monetary crises that have affected many countries since 1997, this recovery
was not reflected in construction orders. Since the start of 2000, however,
a rise in inquiries from Japan-affiliated manufacturers in Thailand
and Malaysia suggests improvement in future order trends.
As a considerable volume of Japan-affiliated
construction work opportunities is not projected in Europe, Kajima proceeded
with dynamic measures to localize its subsidiaries in the region, including
the promotion of a U.K. citizen to serve as president of Kajima U.K.
Engineering Ltd.
Kajima continued to develop its overseas civil engineering operations,
particularly in Southeast Asia and Africa. Fiscal 2000 orders in these
operations amounted to \23.9 billion, approximately the same level as
in the previous fiscal year. Kajima also obtained a dam project order
in India, which it considers a promising strategic market, and further
strengthened its marketing capabilities in central and western regions
of Asia through the establishment of a representative office in Turkey.
Major orders received during the period
include those for the construction of Fuji Photo Film Co., Ltd.'s FA-K5
factory in the United States; the HDB Jurong West N6C5 condominium project
in Singapore; the repair of a highway in a suburb of Addis Ababa, the
capital of Ethiopia; and the construction of the Chirundu Bridge, which
spans the Zambezi river across the border of Zambia and Zimbabwe. The
Company also received its first order in Palau, for a three-span continuous
cable-stayed bridge.
Major overseas projects completed during
the period under review include the over 130,000m2 New Woodlands
Checkpoint customs facility in Singapore; the Daiwa 88 Wood Street premium
office building in London; the Wonorejo Multipurpose Dam Project, near
Surabaya on the Indonesian island of Java; a Ford assembly plant and
Visteon parts plant in the Philippines; and the Second Mandaue-Mactan
Bridge, between Cebu and Mactan islands in the Philippines.
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