Kajima is one of Japan's largest listed construction, real estate development, architectural design and engineering firms, with 166 years of experience. Headquartered in Tokyo, we have 12 domestic branch offices throughout Japan, with over 9,200 employees and more than $15 billion in consolidated revenues. Kajima also operates in more than 20 countries around the world, in such regions as North America, Europe, the Middle East, Africa and Asia.

We are dedicated to providing our customers with full satisfaction from the planning and design phases through construction, operation and maintenance of facilities, by supplying total solutions in a timely manner. Kajima is also well known for developing new technologies and construction methods at its extensive in-house R&D facilities. In 2005, we held a total of 1,913 patents, enabling us to overcome technologically difficult challenges.

With an eye on the dynamic changes underway in the business and social environments, Kajima will continue to fulfill and exceed expectations, and earn trust by working in close cooperation with stockholders, customers and local communities. We are confident we can achieve a brighter future for all.

This Annual Report includes forward-looking statements that represent Kajima's assumptions and expectations in light of currently available information. These statements reflect industry trends, clients' situations and other factors, and involve risks and uncertainties which may cause actual performance results to differ from those discussed in the forward-looking statements in accordance with changes in the domestic and overseas business environment.