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The total value of offshore construction in fiscal
2001, on a yen basis, was 133
billion, a significant turnaround from the decline for the three
years to fiscal 2000. The major contribution was made by the Company's
North American operations, which experienced healthy growth in
contracts for construction from local U.S. companies in the information
and communications field through the end of 2000, reflecting the
booming economy.
Proposals from local players in the North American region saw
3.5 times as many contracts as in fiscal 2000. Proposals from
Japanese investment, on the other hand, were down 13% compared
to the previous year. By continuing to provide a high value-added
design and construction service we expect to secure a stable supply
of contracts.
Investment in construction in Southeast Asia is clearly recovering,
and the Company has begun to win a growing number of contracts,
primarily in Singapore. Including Taiwan, contracts from the area
are up 61% compared with the prior year. In Thailand and Malaysia
in particular, there is growing competition for business from
Japanese investment, but the Company's comprehensive track record
will be used to good effect in winning contracts.
In the European region, our British operations are being converted
to local management, which has resulted in several ongoing contracts
from local companies. It is a very difficult market for Japanese
construction firms, however, which means that ongoing market trends
will have to be watched closely and responded to appropriately.
In civil engineering arena, the Company has grown its business
in Southeast Asia and Africa through Japanese government official
development assistance (ODA) projects, achieving contracts worth
25.1
billion in fiscal 2001, and adding to a strong performance
in fiscal 2000 of 23.9
billion. The Company will focus on risk management as it moves
into new markets to expand its business.
Major contracts in this fiscal year included extensions to the
Surabaya airport in Indonesia; the Longmen Nuclear Power Plant
No. 4 circulation cooling-water discharge tunnel in Taiwan; interior
fitout work for the GIC office in Singapore; Tostem's Assembly
Factory No. 3 in Thailand; and some new stores for supermarket
ASDA in the United Kingdom. In North America, the Company has
continued to receive orders for data centers, this year from Qwest
and Verio, and a particularly noteworthy achievement was winning
the contract for a new head office for CNBC, the economic news
division of NBC, one of the three major U.S. networks.
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Major completed projects included a bridge across
the Suez Canal in Egypt; improvement of Highway No. 6 in Ghana;
the Sri Lanka-Japan Friendship Bridge Project, Phase II; construction
of the Double Lucky Mansion in Taiwan; an office building for
Itochu at 120 Fleet Street in London; Pacific Bell Park, the new
home of the San Francisco Giants in the United States; and Fuji
Photo Film's K-5 Factory in the United States.
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