Fujita Corporation is actively engaged in solving managerial issues in order to establish a stable revenue base and improve its financial standing, as outlined in our middle-term management plan of 31 March, 2005.

To ensure a stable revenue base, Fujita Corporation is actively implementing structural reforms and strengthening sales and marketing capabilities to enable us to meet client requirements.

To improve its financial standing, Fujita Corporation has now resolved a financial situation where debt exceeded assets due to the liquidation of an unrealized loss as a lump sum at the end of the previous accounting period. The excess debt has been eliminated, firstly through allocation of new stocks to third parties including Goldman Sachs Japan and, secondly, through a waiver of debt from the main financing banks. Consequently, Fujita Corporation has resolved its outstanding financial issues. We deeply appreciate the support and cooperation we have received from our clients in helping us achieve this resolution.

In future, all Fujita’s executives and employees will continue to strive to meet our clients’ demands, and further enhance our reputation as a reliable company by concentrating our managerial resources on the construction business with the technologies, experience and know-how that we have cultivated since our foundation.

Fujita Corporation will continue to strive to offer our clients best-value solutions, and we greatly appreciate your continued support.

Mr. Takuji Ueda, President

Further press releases are available here