creating superior enironments · 2009. 10. 7. · net cash provided by (used in) financing...
Post on 02-Jan-2021
2 Views
Preview:
TRANSCRIPT
FuJiTa CorPoraTion
ANNUAL REPORT 2009
Creating Superior
EnvironmEnts
Fujita Corporation is a general contractor, founded in 1910 in Hiroshima. We’re excited to be approaching our 100th
anniversary in 2010.
The Company is engaged in the planning, design, and execution of all types of construction and civil engineering
projects, guided by a corporate philosophy that states “For nature, for society, for communities, and for more fulfilling
lives, Fujita is constantly at work.” Fujita boasts specialist expertise in “creating communities.” We have been involved
in urban regeneration since the 1970s, delivering numerous urban redevelopment projects and proposal and planning
projects for major facilities.
Fujita has built up an impressive record of accomplishments in the construction business over the past 100 years,
accumulated expertise in urban redevelopment over nearly 40 years, and developed environmental technologies based
around our corporate mission of “Creating Superior Environments.” The Company provides total solutions that extend
beyond the conventional scope of the construction business and has started working towards the goal of becoming a
“Supra-general Contractor.”
Fujita aims to enter new territory in its general contractor business, for nature, for society, for communities, and for more
fulfilling lives.
FiNANciAL HigHLigHTs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
MEssAgE FROM MANAgEMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
REviEw OF OPERATiONs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
MAjOR PROjEcT cOMPLETiONs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
MAjOR ORdERs REcEivEd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
REsEARcH & dEvELOPMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
cORPORATE sOciAL REsPONsibiLiTy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
cORPORATE gOvERNANcE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
FINANCIAl SeCTION
cONsOLidATEd FiNANciAL sTATEMENTs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
NON-cONsOLidATEd FiNANciAL sTATEMENTs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
cOMPANy ORgANizATiON . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
OvERsEAs OPERATiONs/PRiNciPAL sUbsidiARiEs ANd AFFiLiATEs . . . . . . . . . . . . . . . . 52
cORPORATE dATA/diREcTORs, cORPORATE AUdiTORs ANd OPERATiNg OFFicERs . . . 53
Forward-looking StatementsPlans, forecasts, outlooks and other forward-looking statements in these materials are based on Fujita’s forecasts and outlooks in accordance with strategies, targets and assumptions at the time these materials were prepared. Consequently, these statements incorporate various risks and uncertainties. Due to these risks and uncertainties, Fujita’s actual performance may differ from these plans, forecasts and outlooks.in addition, information in these materials concerning the economy, the industry and companies other than Fujita Group companies are all based on information that is available to the public. Fujita makes no assurance whatsoever regarding the accuracy or suitability of this information, and provides no guarantee regarding this information.
PROFiLE
cONTENTs
Financial HigHligHts
Millions of YenThousands ofU.S. Dollars
Years ended March 31 2007 2008 2009 2009
Consolidated:Statements of Income:Revenues ¥351,289 ¥350,111 ¥329,226 $3,351,588Gross profit 27,076 28,867 26,399 268,747Gross profit margin 7.7% 8.2% 8.0%Operating income 9,328 10,238 6,928 70,534Operating margin 2.7% 2.9% 2.1%Net income (loss) 7,514 10,633 (9,572) (97,442)
Statements of Cash Flows:Net cash provided by (used in) operating activities 11,231 4,184 (17,620) (179,374)Net cash provided by (used in) investing activities 394 1,139 (159) (1,613)Net cash provided by (used in) financing activities (9,176) 1,317 (1,957) (19,925)Cash and cash equivalents at end of year 52,364 58,499 37,518 381,944
Balance Sheets:Net assets 28,260 36,615 25,193 256,469Total assets 241,823 208,734 200,192 2,037,993Equity ratio 10.9% 16.5% 10.9%
Yen U.S. Dollars
2007 2008 2009 2009
Per Share Information:Net income (loss) ¥ 14.48 ¥22.80 ¥(25.39) $(0.258)Diluted net income 14.44 22.75 – –Net assets (36.46) (15.53) (43.55) (0.443)
07 08 090
100
200
300
400
07 08 090
5
10
15
Revenues(Billions of Yen)
Operating Income(Billions of Yen)
Operating Margin(%)
07 08 090
1.0
2.0
3.0
4.0
Note: The U.S. dollar amounts included herein are presented solely for convenience and are stated, as a matter of arithmetic computation only, at ¥98.23 = U.S.$1.00, the prevailing exchange rate on March 31, 2009. The translation should not be construed as a representation that the yen amounts actually represent, or have been or could be converted into U.S. dollars at the above or any other rate.
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 1
Message FroM ManageMent
corporate pHilosopHy: “For nature, for society, for communities,
and for more fulfilling lives, Fujita is con-
stantly at work.”
Fujita has defined its corporate philosophy as “For
nature, for society, for communities, and for more
fulfilling lives, Fujita is constantly at work.” We are
developing our business, centered on construc-
tion, in line with the company slogan “Creating
Superior Environments.”
We combine the Company’s environmental tech-
nologies, expertise, and extensive experience in
construction and urban redevelopment projects to
create unique value and to generate total solutions
that fulfill customer needs, in line with our mission
to support society by creating communities.
Fiscal 2008 results: Operating income down 32.3% to ¥6.9 billion,
operating margin down 0.8 of a percentage
point to 2.1%
During the second half of the fiscal year ended March
2009, economic conditions in Japan deteriorated
sharply and dramatically due to the worldwide eco-
nomic slowdown and the soaring yen. The construc-
tion industry continued to present a challenging
management environment, with competition for
orders as fierce as ever amid a decline in construc-
tion investment in both the public and private sectors.
Under these conditions, the Company saw its
performance decline with construction orders down
by 14.7% to ¥281.9 billion as private sector con-
struction orders in Japan, our mainstay source for
individual orders, declined.
Consolidated operating income declined 32.3%
year on year to ¥6.9 billion due to a decline in
income recorded in our real estate business. The
operating margin fell by 0.8 of a percentage point
year on year to 2.1%.
In the period under review we recorded a net
loss of ¥9.6 billion. This was due to extraordinary
losses recorded as some clients suspended proj-
ects or underwent legal liquidation because of
the sharp economic downturn in the second half
of the fiscal year.
Future strategy: Management plan formulated for Fiscal
2009–2010 features plans for building an
efficient business framework and enhanced
risk management.
In light of the sharp deterioration in business condi-
tions since the fall of last year and the financial
accounts for the previous period, we formulated a
management plan for fiscal 2009–2010.
The plan calls for a return to management basics,
with construction of an efficient business framework
and enhanced risk management. The plan also
features numerical targets for consolidated operating
income of ¥6.0 billion for fiscal 2009 and ¥9.0
billion for fiscal 2010.
In implementing this plan, Fujita seeks not only to
raise its corporate value, but also to embody the
notion of a “Supra-general Contractor” by providing
total solutions for the diverse needs of our custom-
ers as we seek to maximize customer satisfaction.
Takuji UedaPresident
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 20092 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009
review oF operations
Fujita provides comprehensive services encompassing all phases of the construction process: from planning and proposals, through design, execution, operation and maintenance, to repairs and renovations. We have earned an extremely positive reputation with customers for this integrated system, which we developed from the expertise and experience we have accumulated over the Company’s 100-year history.
Construction business orders fell 14.7% year on year to ¥281.9 billion. Of this figure, ¥256.3 billion comprised orders at our core construction company, Fujita. This repre-sents a 14.6% year on year decline following a fall in orders for construction projects in Japan. The breakdown of Fujita orders was ¥205.4 billion (down 17.8% year on year) from construction and ¥50.9 billion (up 0.8% year on year) from civil engineering.
Revenues fell 3.4% year on year to ¥311.6 billion and operating income fell 10.1% year on year to ¥8.9 billion.
CONSTRUCTION
Fiscal 2008 resultsConstruction servicesRevenues and Operating Income(Billions of Yen)
Fujita has been operating its real estate business for almost 40 years. We have used our skills in planning proposals and our expertise in negotiating the adjustment and exchange of property interests among the various property owners to “create communi-ties” by developing large-scale complexes and planned town developments. Going forward, we aim to utilize expertise we have gained in community creation to generate added value, and, while discerning the business risks, develop a full-fledged urban development business of renewing and revitalizing communities.
Real estate revenues fell 43.0% year on year to ¥10.3 billion, mainly due to a decline in sales from Fujita’s equal-value exchange business, which was impacted by the dete-rioration in the real-estate market.
Operating income fell 80.2% year on year to ¥0.5 billion.
REAL ESTATE
Real estate business services Fiscal 2008 resultsRevenues and Operating Income(Billions of Yen)
n Revenues n Operating Income
07 08 090
5
10
15
20
0
1
2
3
4
In addition to our construction and real estate businesses, we are also engaged in the purchase and sale of construction materials, building maintenance services, and other business at our consolidated subsidiaries.
In the fiscal year ended March 31, 2009, this segment reported revenues of ¥7.4 billion, down 22.1% year on year, mainly due to a fall in revenues of construction materials at our con-solidated subsidiaries.
Operating income fell 13.9% year on year to ¥0.4 billion.
OThER BUSINESSES
Other business services Fiscal 2008 resultsRevenues and Operating Income(Billions of Yen)
n Revenues n Operating Income
07 08 090
3
6
9
12
0
0.2
0.4
0.6
0.8
n Revenues n Operating Income
07 08 090
100
200
300
400
0
3.0
6.0
9.0
12.0
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 3
Major project coMpletions
Project Name and Description
aQua terra calm squareLocation
adachi ward, tokyoCustomer
towa real estate Development co., ltd., Kintetsu real estate co., ltd., Daiwa House industry co., ltd.Completed
september 2008Overview
apartment block, reinforced concrete construction, one basement level and 18 aboveground levels, 43,651 m2
Project Name and Description
northport MallLocation
yokohama city, Kanagawa prefectureOriginally commissioned by
Kohoku sc co., ltd.Customer
nippon steel corporationCompleted
March 2007Design
FujitaOverview
commercial complex, reinforced concrete con-struction, two basement levels, nine aboveground levels, one penthouse, 141,125 m2
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 20094 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009
Project Name and Description
Kurihama chuo Driving school (aeon yokosuka Kurihama shopping center)Location
yokosuka city, Kanagawa prefectureOriginally commissioned by
Kurihama chuo Kaikan co., ltd.Customer
Mitsubishi estate co., ltd., aeon co., ltd.Completed
august 2008Design
FujitaOverview
Driving school, shops, reinforced concrete/steel frame construction,one basement level, 5 aboveground levels, 47,113 m2
Projects Completed in the Current Fiscal Year Type Customer
New Factory for Nissan Shatai Kyushu Co., Ltd. Production facility Nissan Motor Co., Ltd.
Additional lanes around Yokkaichi City for the Higashi-Meihan Expressway
Road Central Nippon Expressway Company Limited
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 5
Project Name and Description
Kobe Minato warehouseLocation
Kobe city, Hyogo prefectureCustomer
inui warehouse co., ltd.Completed
February 2009Design
FujitaOverview
warehouse, steel frame construction, four levels, 76,398 m2
Project Name and Description
Haizuka DamLocation
Miyoshi city, Hiroshima prefectureCustomer
Ministry of land, infrastructure, transport and tourism, chugoku regional Development BureauCompleted
March 2007Overview
concrete gravity dam, dam height 50 m, dam volume 164,000 m3
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 20096 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009
Project Name and Description
almeida Memorial Hospital of the oita city Medical associationLocation
oita city, oita prefectureCustomer
oita city Medical associationCompleted
December 2008Overview
general hospital (385 beds), reinforced concrete construc-tion, seven aboveground levels, penthouse (one level), 23,400 m2
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 7
Major orDers receiveD
Project Name and Description
onagigawa commercial Facility upgrade project (temporary name)Location
Koto ward, tokyoCustomer
japan Freight railway companyScheduled Completion
May 2010Overview
shopping centercommercial building: Fsrpc-B (Fujita steel plus reinforced precast concrete–Band type) construction, four levels, 84,385 m2
car park building: steel frame construction, five levels, 20,198 m2
Fitness building: steel frame construction, two levels, 4,635 m2
other associated facilities 1,571 m2
Project Name and Description
Higashi sakuramachi District class 1 urban redevelopment project new construction of Facilities and BuildingsLocation
Fukuyama city, Hiroshima prefectureCustomer
Fukuyama eki-mae Kaihatsu co., ltd.Scheduled Completion
january 2011Overview
High-rise residential, hotel, office building and com-mercial facility, one basement level, 16 and 28 aboveground levels 51,010 m2
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 20098 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009
Project Name and Description
Japanese Red Cross Azumino Hospital Reconstruction ProjectLocation
Azumino City, Nagano PrefectureCustomer
Japanese Red Cross SocietyScheduled Completion
December 2010Overview
Hospital (321 beds), reinforced concrete construction, six levels, 22,090 m2
Project Name and Description
New Construction of Facilities and Buildings for Class 1 Urban Redevelopment Project at Koriyama Station Block 1 District 1Location
Koriyama City, Fukushima PrefectureCustomer
Koriyama Station First District Class 1 Urban Redevelop-ment AssociationScheduled Completion
October 2010Overview
Hospital, Apartment, Shops, Multilevel car parking facilityReinforced concrete, steel frame construction, one base-ment level, 24 aboveground levels, 29,325 m2
Orders Received in the Current Fiscal Year Type Customer
ProLogis Parc Ichikawa II Project Logistics facility ProLogis Ichikawa 2 Co., Ltd.
New Construction of Nagasaki 251 Mayuyama Tunnel Tunnel Ministry of Land, Infrastructure, Transport and Tourism, Kyushu Regional Development Bureau
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 9
Automation technologies (remote-controlled construction robot Robo-Q):
Safer working environments using IT
The remote-controlled construction robot Robo-Q was developed through a collaboration between
Fujita and the Kyushu Regional Development Bureau of the Ministry of Land, Infrastructure, Transport
and Tourism. The robot can be easily transported, and can be installed in general-purpose construction
machinery in order to enable remote operation of the equipment. Robo-Q is highly maneuverable
during emergencies and can be used for rapid-response disaster relief when time is a pressing factor.
In the major landslide at Nakagusuku, Okinawa in June 2006, Robo-Q received great acclaim
for its role at the site in preventing a secondary disaster and preventing any further damage.
FESTA Method: Using aquatic vegetation to improve the water environment
The Floating Island of Emerged and Submerged Vegetation (FESTA) method is a technology to regener-
ate water vegetation and improve water quality through the combined effects of floating islands planted
with emerged plants such as yellow flag iris and islands planted with submerged plants such as hyd-
rilla. Fujita has already developed various cleaning technologies to improve closed water environments
such as lakes and marshes. We are confident that we will be able to effectively regenerate endangered
lake and marsh habitats by combining these technologies for preserving the environment.
With the stated objective of creating superior environments, research and development at Fujita is aimed at rapidly
responding to social and customer needs and making a concerted effort to develop construction and civil engineering
technology platforms and environmental technologies. Our research activities cover many areas from basic and applied
research to new technology and product development. We also collaborate proactively with government agencies,
Japanese and overseas universities, and companies in other business sectors—efforts which are proving to be fruitful.
FSRPC-B Construction (Fujita Steel plus Reinforced Precast Concrete—Band type)
FSRPC-B is Fujita’s proprietary construction method for hybrid structures using reinforced concrete
pillars and steel beams. The method offers superior earthquake resistance by using a “band plate” to
reinforce the crucial joint between the beams and pillars in hybrid constructions. It also requires less
power to implement through its use of a “wrap plate”—a structure that also serves as a concrete
formwork. FSRPC-B enables large-span structures to be built at low cost, and can be used on high-
rise structures up to 60 meters in height.
researcH & DevelopMent
construction tecHnologies
civil engineering tecHnologies
environMental tecHnologies
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 200910 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009
At Fujita we recognize it as our social responsibility to realize our corporate philosophy of “Creating Superior
Environments.” We do more than simply comply with laws and ordinances; we are working to support the
development of a sustainable society through our business activities.
Corporate social responsibility is increasingly under the spotlight, and greater emphasis is being placed on the careful management of stake-
holder relationships and concrete and effective corporate activities. Social contribution is a particularly important element in corporate activ-
ity. Supporting communities through construction not only increases Fujita’s corporate value, but also raises the social value of our
technologies and business and improves employee satisfaction and motivation.
Fujita prioritizes communication with local communities above all else. We actively collaborate with local communities in our business in
order to create communities that are inspiring and pleasant places to live, study, and work for as many people as possible.
Developing our socially minded “Chiku-iku” program
Our “Chiku-iku” social contribution program is aimed at using construction to communicate with the
members of the local community, especially the children and young people who are the key to the
future, about the joy of creating, the importance of building communities, and the significance of the
natural environment. The program also works to encourage children and young people who have a
desire to be construction engineers in the future.
We will continue to develop and propose “Chiku-iku” activities in order that as many people as
possible might come to know the appeal of the construction industry, its enormous scope, its far-
reaching contribution to society, and the high level of technological capability that has been achieved
in the field.
Initiatives in diversity management
At Fujita we feel that diversity strengthens the Company, and we are working to advance diversity in
all aspects of our corporate activities.
As a basic approach for advancing diversity, we treat everyone according to their contribution to
the Company, offering equal and fair opportunities, while at the same time considering and offering
support for individual circumstances and limitations.
In advancing diversity, we established the Diversity Promotion Office, and we are actively creat-
ing an environment where the diverse people that make up our human resources can achieve their
individual potentials.
Participants on a worksite observation tour
A general meeting of Fujita’s women’s career track network “F-net”
supporting local coMMunities tHrougH construction
corporate social responsiBility
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009 11
Fujita’s basic focus is to generate profits, increase corporate value,
and then return profits to shareholders. In order to achieve this,
we place the highest emphasis on managing the company in a
timely, transparent, fair, and flexible manner and pursuing organi-
zational and systematic reforms.
Our Board of Directors comprises at least three but no more
than nine Class-A directors and at least one but no more than 13
Class-B directors. Class-B directors are appointed from outside
the Company. As stipulated in the Articles of Incorporation, a
Meeting of Shareholders at which a director is to be appointed
must be attended by a quorum of shareholders representing at
least one third of exercisable voting rights, and each director is
appointed on the basis of a majority of voting rights, without use
of cumulative voting. We have 13 directors (of whom seven are
external appointments).
Fujita’s Board of Directors is composed of the directors
described above and is responsible for establishing basic man-
agement strategy, deciding issues related to annual business
targets and other important administrative matters, and oversee-
ing the ongoing execution of operations. The Board also holds
regular management meetings to ensure rapid decision-making
on important operational matters not covered at meetings of the
Board of Directors.
We have introduced an operating officer system. Operating
officers are appointed by the Board of Directors and are given
authority from the Representative Director to manage operational
matters. As the party responsible for the operation of a particular
business area, each operating officer will follow the business strat-
egy decided by the Board of Directors and develop and implement
operational strategies to achieve the business strategy, thus assist-
ing the Representative Director.
Fujita has Corporate Auditors as well as a Board of Corporate
Auditors. We have four Corporate Auditors (three of whom are
Outside Auditors) who participate in various meetings and commit-
tees, including Board of Director meetings and management meet-
ings, and who oversee execution of business by the Directors.
For internal audits, four members of the Audit Department
conduct operational audits and three members of the Audit
Department conduct an evaluation of the state of development
and operation of the internal control systems for financial report-
ing. The results of the operational audit and internal control
system evaluation are reported at the management meeting of
the Board of Directors. Financial audits are performed by the
accounting auditor Ernst & Young ShinNihon. The auditors, Audit
Department, and financial auditors work together to make the
audit more effective.
Fujita has consultancy contracts with a number of lawyers as
part of a system to ensure legal control of our business activities
from a number of different perspectives.
We have also defined a Charter of Business Conduct with the
aim of further improving the public spirit and ethical nature of our
business activities and improving individual accountability. In
order to make further improvements, we have
established a Compliance Committee of legal
experts and other individuals with specialist
expertise to ensure our business activities
comply in terms of laws and ordinances,
public spirit, and ethics and to prevent corpo-
rate misconduct.
Finally, we have established an Information
Security Committee in order to improve our
systems to manage information risks.
Meeting of Shareholders
Fina
ncia
l Aud
itor
s
Election Election Election
Audit
Report
Internal Audit
Internal Audit
Con
sult
ant
Law
yers
LegalAdvice
Audit
Oversight
Board of Corporate AuditorsCorporate AuditorsOutside Auditors
Internal Audit Department
Board of DirectorsDirectors
Outside Directors
Compliance CommitteeConsultant Lawyers
Representative Directors
Management Meeting
Operating Officers
Branches, Business Groups
Internal Control Systems
Divisions
corporate governance
ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 200912 ANNUAL REPORT 2009 FUJITA CORPORATION FUJITA CORPORATION ANNUAL REPORT 2009
Financial Section
Consolidated FinanCial statementsConsolidated Balance sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Consolidated statements of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Consolidated statements of Changes in net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Consolidated statements of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
notes to Consolidated Financial statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Report of independent auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
non-Consolidated FinanCial statementsnon-Consolidated Balance sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
non-Consolidated statements of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
non-Consolidated statements of Changes in net assets . . . . . . . . . . . . . . . . . . . . . . . 39
notes to non-Consolidated Financial statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Report of independent auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 13
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200914 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 15
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200916 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 17
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200918 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 19
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200920 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 21
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200922 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 23
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200924 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 25
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200926 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 27
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200928 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 29
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200930 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 31
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200932 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 33
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200934 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 35
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200936 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 37
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200938 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 39
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200940 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 41
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200942 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 43
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200944 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 45
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200946 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 47
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200948 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 49
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200950 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
Meeting of Shareholders
Board of Corporate Auditors
Corporate Auditors
Board of Directors
Directors
Corporate Planning Division
Civil Engineering Technology Department
Tokyo Branch
Business Development Division
Construction Division
Urban Redevelopment Division
Safety, Quality & Environment Management Division
Procurement Division
Internal Audit Department
Affiliated Companies Department
Auditors’ Office
Technology Development Division
Architectural Design & Engineering Department
Kanto Branch
Yokohama Branch
Nagoya Branch
Sapporo Branch
Chiba Branch
Osaka Branch
Hiroshima Branch
Shikoku Branch
Kyushu Branch
Tohoku Branch
International Business Division
Urban Development Division
Hokuriku Branch
Company oRganizationas of July 31, 2009
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009 51
oveRseas opeRations
pRinCipal suBsidiaRies and aFFiliates
as of July 31, 2009
as of march 31, 2009
Shanghai office1608, 1809 Charity Plaza No. 88 Cao Xi Road (N.), Shanghai, People’s Republic of China 200030
Hong Kong officeUnit 3706, 37/F., 9 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong
Seoul office8th Floor, Sinnammoon BLDG #21-1, 5-ka, Namdaemun-ro, Chung-ku, Seoul 100-800, Republic of Korea
Hanoi officeRM. 205-206, Building 2G, Van Phuc Diplomatic Compound, Ba Dinh Dist., Hanoi, Socialist Republic of Vietnam
Ho chi Minh officeHan Nam Officetel, 8th Floor, 65 Nguyen Du Street. Ho Chi Minh City, Socialist Republic of Vietnam
Malaysia officeLot. 14.05, 14th Floor, Wisma Cosway Jalan Raja Chulan, 50200 Kuala Lumpur, Malaysia
Singapore office47 Hill Street #03-02A, Republic of Singapore, 179365
Manila officeChatham House 14-A, Valarero corner, Rufino Streets, Salsedo Village, Makati City, Republic of the Philippines
taipei office7F-4, No. 52, Sec. 2, Chang-an East Road, Jhongshan District, Taipei 104, Taiwan
Dubai officeRoom No. 1901, Al Attar Tower, Plot No. 336-212, Shk. Zayed Road, Dubai, U.A.E.
Mexico officeGuanajuato 224 #305, Colonia Roma, C.P. 06700, Mexico, DF
name location Main business
consolidated subsidiaries:Fujita Road Construction Co., Ltd. Tokyo, Japan Road construction
Fujita (China) Construction Co., Ltd. Shanghai, China Construction
Fujita Philippines Inc. Manila, Philippines Construction
F.T.C. Oita Co., Ltd. Oita, Japan Building ownership and management
Fujita Shoji Co., Ltd. Tokyo, Japan Export and import trading
Technomaterial Corporation Tokyo, Japan Precast concrete manufacturing and engineering and leasing
FBS Co., Ltd. Tokyo, Japan Information technology services
KOKANKYO Engineering Corporation Tokyo, Japan Environment-related engineering services
Fujita BLDG. Maintenance Co., Ltd. Tokyo, Japan Building management
Fujita Research Nevada, U.S.A. Research and consulting
equity-method affiliates:Toyukogyo Corporation Tokyo, Japan Construction
F.T.C. Hotel Kaihatsu Co., Ltd. Oita, Japan Hotel management
Chugoku Nama Concrete Co., Ltd. Hiroshima, Japan Ready-mixed concrete production
ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 200952 ANNUAL REPORT 2009 FUJita coRPoRation FUJita coRPoRation ANNUAL REPORT 2009
As of March 31, 2009
As of july 15, 2009
cORPORATE dATA
diREcTORs, cORPORATE AUdiTORs ANd OPERATiNg OFFicERs
Name: FuJiTa CorPoraTion
Head Office: 4-25-2 Sendagaya, Shibuya-ku, Tokyo 151-8570, Japan
established: December 1910
Paid-in Capital: ¥14,002 million
Number of employees: 2,238
Major Activities: Construction and real Estate
President
Takuji ueda
Director, Senior Operating Officer
Tatsuro Tsuchiya
DIReCTORS
Masaharu Hino (1)
Tomohiro Takanashi (1)
Sennosuke Yoshida (1)
Taneki ono (1)
ankur Sahu (1)
Kota igarashi (1)
Eiji Shibata (1)
(1) outside directors as defined under the Company Law.
CORPORATe AUDITORS
Yoshikazu KakigawaKunihisa Hama (2)
Seiji Fuse (2)
Toshio Matsumura (2)
(2) outside corporate auditors as defined under the Company Law.
OPeRATINg OFFICeRS
executive Operating Officer
nobuhiko Seki
Senior Operating Officer
Hiromasa nakai
Operating Officers
akiyoshi onishiKazuo HayashiYoji okumuraJyunji HoshinoHideki ToriiYasunori YoshiiKazumi MukaiTatsuya iwasaMasatoshi YamaneEiichi ChikuKatsumi KobayashiMasahiro FujiiKoichi ShinoharaMasahiro niwa
Director, Senior executive Operating Officer
Ko nakahigashi
Director, Senior Operating Officer
Motoyuki Shirai
Director, Senior Operating Officer
Koichi iida
Director, Senior Operating Officer
Tatsuo asano
annuaL rEPorT 2009 FUJITA CORPORATION 53
FUJITA CORPORATIONhttp://www.fujita.co.jp/
4-25-2 Sendagaya, Shibuya-ku, Tokyo 151-8570, Japan
Tel: +81-3-3402-1911
Printed in Japan
top related