The construction business environment remained challenging both in Japan and overseas. Both revenues and operating income increased due to a substantial increase in construction in progress, but operating income margin was marginally higher than in the previous fiscal year.

In the domestic construction market, our strong technological proposal capabilities gave us a competitive advantage in the comprehensive evaluation bidding format, and won more new contracts than forecast.

We aim to secure more attractive business opportunities and improve our profit margin going forward.

The real estate market in Japan drastically deteriorated, which affected our financial performance in this sector during the fiscal year ended March 31, 2009.

In this unpredictable environment, we are tightening our risk management for new development projects and on-going projects to minimize risks that could affect the financial viability of these projects.

Other business divisions are more important than ever because comprehensive capabilities are key to remaining competitive in each business segment.

We will work to efficiently integrate different business divisions to deliver superior value for every type of business and project.

A core objective is enhancing our global business base to achieve financial targets by streamlining and enhancing organizational efficiency and strengthening risk management.

Emphasizing sound operations, we are focusing on countries, regions and types of business in which we have a competitive advantage to maintain a strong project pipeline.