Financial Highlights
Decline in Net Sales of 18.0% to ¥1,303.7 Billion in Harsh Business Conditions
ANNUAL REPORT 2011
Year Ended March 31, 2011
During the fiscal year ended March 2011, as certain areas of Japan’s economy showed signs of recovery, events such as the strong yen on international currency markets, a decelerating global economy, and the Great East Japan Earthquake resulted in a slowdown through the end of the fiscal year.
Government construction spending declined dramatically amid slowing recovery in residential and real-estate markets and a continuing downturn in capital investment. Orders awarded throughout the industry remained below those from the previous fiscal year. This contraction in domestic markets resulted in persistently harsh business conditions.
In this environment, the Shimizu Group experienced dramatic declines in completed construction contracts, and net sales fell 18.0% from the previous year to ¥1,303.7 billion.
Despite an increase in construction profitability, a decline in development income pushed operating income 8.8% below the figure for the previous year to ¥20.1 billion. Ordinary income rose by 6.8% year-on-year to ¥18.8 billion, due to a variety of factors, including improvements in financial revenues and expenditures. Net income rose to ¥10.8 billion, up ¥17.6 billion compared to a net loss of ¥6.8 billion in the previous fiscal year.
Consolidated Net Sales (Billions of Yen)
*Consolidated net sales do not include intersegmental eliminations.
*Effective from the fiscal year ended March 31, 2011, the Corporation and its consolidated subsidiaries have adopted new accounting standards, the “Accounting Standard for Disclosures about Segments of an Enterprise and Related Information” (ASBJ Statement No.17, March 27, 2009) and the “Guidance on the Accounting Standard for Disclosures about Segments of an Enterprise and Related information” (ASBJ Guidance No.20, March 21, 2008).
*The year ended March 31, 2010 has been retrospectively restated.
*For this reason, graphs are only shown for the years ended March 31, 2010 and 2011.
Nonconsolidated Domestic Architectual Construction Orders Awarded by Source
(Billions of Yen)
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- (in Japanese)