full Annual Report 2006 (PDF 3.2MB)

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Directly Managed, Overseas Civil EngineeringReview of OperationsOverseas Operations22The Global Construction MarketEnvironment: Brightening Prospectsfor InvestmentInvestment in construction is acceleratingthroughout the world as conditionsbrighten with the continued strength of theU.S. and Chinese economies, and theeconomic recovery in Japan.In Taiwan, India and other regions in Asia,many new infrastructure projects, includingsubways, roads, bridges, dams andairports, are being launched in linewith economic development. In the oilproducingregions of the Middle East andNorth Africa, the rising price of crude oilhas produced a flood of oil money drivingactive investment in construction of officebuildings, hotels, and other transport andenergy-related infrastructure. In Africa, theJapanese government is planning toincrease ODA to developing countries.Those market environments are brighteningthe prospects for global constructioninvestment.Dhauliganga HE Project Stage I:Civil Works for Dam and PartHead Race Tunnel (Lot—I), IndiaCivil Engineering Projects: BusinessExpansion ContinuesIn response to these market conditions,Kajima is taking a proactive stance withregard to overseas business development,making overseas civil engineering businessan important item on the agenda inits new three-year medium-term businessplan launched in April 2006 and extendingthrough the financial year to March 2009.Specifically, the Company will pursuea policy of focusing on the Japanesegovernment’s ODA grants and yen-basedloan projects, while at the same timepursuing large-scale, international tenderprojects financed by national or regionalgovernments, state-owned companies, orthe World Bank or other internationalfinancial institutions.Kajima will make efforts to build strategicalliances with powerful overseas partnersand subcontractors to enhance the competitivenessin the world market. We willalso pursue projects in such a way as tomaximize our technical expertise andcomprehensive capabilities.Keelung River Yuanshantze FloodDiversion Project, Taiwan
Review of OperationsOverseas OperationsThe Industrial Ring Road Project, Thailand23Principal Overseas Works Awarded to the Company duringthe Financial Year Ended March 31, 2006ClientWorks1. Dubai Municipality, the United Arab Design ConstructionEmiratesCommissioning and Maintenanceof Dubai Metro Project2. Sewerage Services Department, Construction of Sewage TreatmentMinistry of Energy, Water and Plant Project (Phase 2: Package 3),Communication, Government of MalaysiaMalaysia3. Ethiopian Roads Authority The Project for Rehabilitation ofTrunk Road, Phase III, Ethiopia4. Port of Rijeka Authority RIJEKA Gateway Project,Redevelopment of the Port ofRijeka, Zagreb Pier Extension,CroatiaPrincipal Overseas Works Completed by the Company duringthe Financial Year Ended March 31, 2006ClientWorks1. Water Resources Agency, Keelung River Yuanshantze FloodMinistry of Economic AffairsDiversion Project, Taiwan2. National Hydroelectric Power Dhauliganga HE Project Stage-I —Corporation Ltd.Civil Works for Dam and PartHead Race Tunnel(Lot—I), IndiaPrincipal Overseas Works Awarded to the ConsolidatedSubsidiaries during the Financial Year Ended March 31, 2006ClientWorksUnited States1. KC Rainbow Development LLC Moana Pacific Condominium, WestTower and East Tower2. Kam Sang Co Ltd Embassy Suites HotelEurope1. Electrolux Olawa Washing Machine Factory,PolandAsia1. Richmond Hotel Pte Ltd St. Regis Hotel & Residence JointDevelopment, Singapore2. Senayan Trikarya Sempana Senayan Square Office Tower 2,IndonesiaPrincipal Overseas Works Completed by the ConsolidatedSubsidiaries during the Financial Year Ended March 31, 2006ClientWorksUnited States1. Research Corp. of University of Hawaii University of Hawaii John A. BurnsSchool of Medicine2. San Luis Obispo County San Luis Obispo CountyGovernment CenterEurope1. Kajima Europe (PFI) HSE HQ Office, UK2. JVC UK JVC Business Park, UKAsia1. Capitaland Commercial Pte Ltd One George Street Bldg., Singapore2. Auamarina Hotel Pte Ltd Marina Mandarin Hotel SingaporeA&A Works3. Hung Sheng Construction Co Ltd Tiipao Condominium, Taiwan4. Toppan CFI (Taiwan) Co., Ltd. Tainan No. 2 Plant
Page 1 and 2: Annual Report 2006For the year ende
Page 3 and 4: Financial Highlights (Consolidated
Page 5 and 6: Our Credibility and TrustMessage fr
Page 7 and 8: works, we will improve our technolo
Page 9 and 10: a UDX Building(22 stories) complete
Page 11 and 12: 130Provided structural responsecont
Page 13 and 14: 99buildingswith energy-efficient bu
Page 15 and 16: Building ConstructionMarket Conditi
Page 17 and 18: Review of OperationsDomestic Constr
Page 19 and 20: Market Conditions: Prices InchUpwar
Page 21 and 22: is responding with an expansion of
Page 23: Overseas Building Construction & Re
Page 27 and 28: Selested Financial Data25
Page 29 and 30: Risk FactorsInvestors should consid
Page 31 and 32: Consolidated Balance Sheets29
Page 33 and 34: Consolidated Statements of Stockhol
Page 35 and 36: Notes to Consolidated Financial Sta
Page 56 and 57: Corporate DataCORPORATE DATANETWORK
Page 58 and 59: Corporate OrganizationCorporate Org
Page 60 and 61: Overseas NetworkDISTRICT OFFICESPRI
Page 62: 2-7, Motoakasaka 1-chome,Minato-ku,

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