KAJIMA CORPORATION | Annual Report 2008




BUILDING CONSTRUCTION A pioneer of super-high-rise office building construction in Japan A broad track record of constructing factories, condominiums and other types of buildings in Japan and abroad CIVIL ENGINEERING The leading position in Japan’s civil engineering sector for more than a century Constructs virtually all types of civil engineering projects with unrivalled technological expertise Contributes to the development of areas where projects are located, both in Japan and abroad	Unprecedented difficulties such as the constant decline in public spending and the extraordinary increase in labor and material costs. Construction profit margins decreased substantially, mainly reflecting the increase in construction costs. The drop in profit margins partly resulted from provision for an allowance for foreseeable losses for future fiscal years. Restoring profit margins in our core domestic construction business is the most crucial and imminent management goal to achieve.




The largest number of real estate development projects among Japanese general contractors Primarily high-end office and condominium projects in metropolitan Tokyo Fully exercises strengths as a general contractor with construction execution and design divisions	The division has generated considerable growth over the past several years, helped by the bullish property market in metropolitan Tokyo. With the opening of GranTokyo South Tower, we are now operating three major office development projects (Akihabara UDX, Toranomon Towers Office, and GranTokyo South Tower), which ensures a stable source of income. One of our current tasks is to create new business opportunities for sustainable earnings in the future.




ARCHITECTURAL DESIGN Plays an essential role in winning design-build contracts with groups of architects specializing in a variety of architecture CIVIL ENGINEERING DESIGN Creates value in the civil engineering business through activities ranging from marketing to maintenance, from design and planning to technology development ENGINEERING Integrates technology and expertise to produce optimal systems for manufacturers ENVIRONMENT Solution provider in recycling, remediation, waste disposal, renewable energy and other environment-related fields	Other business divisions are more important than ever because of the growing importance of comprehensive capabilities to remain competitive in each business segment. We will work to efficiently integrate different business divisions to deliver the best value for every type of business and project.

Overseas Construction & Real Estate Development Business

Our overseas activities consist of:

1)	Building construction and real estate development by overseas subsidiaries
2)	Civil engineering by Kajima Corporation

Actively engaged in both construction and real estate development business around the world

Our most important theme is to improve construction profit margins, as the overseas construction business has significantly expanded in recent years.

While maintaining the high performance of our properties under operation, we look for new business opportunities to maintain a strong project pipeline.