Kajima Corporation

With an eye to the dynamic changes underway in the operating and social environments, Kajima will continue to evolve, supported by superior technological expertise, rich human resources, and a pioneer spirit. By working in close cooperation with our stockholders, customers, and local communities, we are confident we can contribute to a brighter future for all. The company establishes the Kajima Institute of Construction Technology--the first of its kind in Japan. The company reports a loss of approximately $2.6 billion due to debt disposal; management launches the "New Three Year Plan." The Kajima Corporation is one of the oldest and largest construction companies in Japan. The firm's services include design, engineering, construction, and real estate development. Kajima builds high-rise structures, railways, power plants, dams, and bridges. Its subsidiaries are located throughout Asia, Europe, and North America. A downturn in the construction industry during the latter half of the 1990s prompted Kajima to expand its operations to the environmental sector, specifically waste treatment, water treatment, soil rehabilitation, and environmental consulting. Kajima was founded in 1840 by Iwakichi Kajima, an innovative carpenter and designer. Construction remained the family trade of Kajima's sons, who witnessed the transformation of Japan from a isolated nation into a developing regional power after the Meiji Restoration in 1868. The industrial modernization policies of the Meiji government created a demand for newer and larger factories and buildings as well as railroad lines and tunnels. Kajima built the first European-style commercial building in Japan, an office structure for the Hong Kong-based Jardine Matheson & Company, and entered the field of railroad construction in 1880 under the name Kajima Gumi. The company quickly established a reputation for excellence in railroad bed construction and tunneling. As Japanese industry continued to grow, Kajima Gumi completed a greater number of industrial and infrastructural projects. Kajima Gumi began construction of hydroelectric dams during the 1920s. Relatively unaffected by the worldwide economic depression, Kajima Gumi became a public company on February 22, 1930, capitalized at three million yen. With the involvement of private stockholders, the company was able to devote more capital to larger projects. With a larger scale of operations, Kajima Gumi became active as an industrial contractor. Extreme right-wing elements of the Japanese military rose to power during the 1930s, advocating a neo-mercantilist economy and Japanese colonial domination of East Asia and the western Pacific. As part of their "quasi-war economy," large industrial projects were undertaken which were intended to augment Japan's war-making capabilities. Like many other Japanese companies, Kajima Gumi attempted to remain divorced from politics. However, because of the nature of its business, and the overwhelming coercive power of the militarists, the company became an active participant in the Japanese war effort. Japan was so completely devastated by the war that it was largely unable to feed or rebuild itself. This created great opportunities for construction companies such as Kajima Gumi, who were needed to build new structures and repair others which had been damaged. Kajima completed Japan's first skyscraper, the 36-story Kasumigaseki Mitsui Building in 1956. Part of that building consisted of a Large Structure Testing (LST) laboratory, which helped Kajima to formulate new technologies for other larger, earthquake-resistant skyscrapers, such as the Shinjuku Mitsui Building (55 stories) and the Sunshine 60 Building (60 stories). During the 1960s, the company undertook an increasing number of projects outside Japan, constructing buildings and dams in Burma, Vietnam, and Indonesia. After establishing its reputation of excellence overseas, Kajima was chosen to complete a variety of projects in Taiwa