Corporate Report

Transcription

Corporate Report

CORPORATE REPORT
Friendly to Humans, Society and the Earth: Linking
“Communications” with the Latest Technology.
The KYOWA EXEO Group Continues to Create “Linkages”
in Society as a Social Service Company for Information and
Communications Technology (ICT).
Cultivating Technological Capabilities,
Corporate Philosophy:
Seeking Affluence and
Contributing to Society
The corporate philosophy of the KYOWA EXEO Group, which is the
basic guideline for our corporate social responsibility, includes cultivating
technological capabilities, seeking affluence and contributing to society.
The corporate philosophy clearly answers the question: “Why does the
KYOWA EXEO Group exist?” The utmost ground for existence is the
Group’s technological capabilities. Throughout its existence, the Group
has aimed to be a corporate group that always anticipates and pursues
better technologies at the forefront of leading-edge technologies. The
technological capabilities cultivated through these efforts will help create
more affluent living environments for people. The Group intends to be
a valuable enterprise by contributing to society through activities in the
pursuit of state-of-the-art technologies.
1
Corporate Report 2012
Create
“Linkages”
in Society
2
s
t o r y
H
i Milestones of the KYOWA EXEO Group
Since its foundation in May 1954 as Kyowa Densetsu Kaisha, Ltd.,
KYOWA EXEO has continued to create “Linkages” in society.
Corporate History
May1954
Company established as Kyowa Densetsu Kaisha, Ltd.
May2010
Made Ikeno Tsuken Co., Ltd., a consolidated subsidiary
Jul.1954
Qualified to participate in telecommunications facility tenders
for Nippon Telegraph and Telephone (now NTT)
Aug.2011
WAKO ENGINEERING CORP., Daiwa Densetsu Corporation
and Ikeno Tsuken Co., Ltd., were converted into wholly
owned subsidiaries
Nov.2011
ICOMSYSTECH Co., Ltd., was converted into a wholly
owned subsidiary
Feb.1963
Listed on the Second Section of the Tokyo Stock Exchange
Sep.1963
Began engaging in telecommunications and electric power
construction outside that for NTT
Feb.1972
Listed on the First Section of the Tokyo Stock Exchange
Apr.1982
Branched out into the software business
Jun.1986
Entered the environment business
May1991
Changed company name to KYOWA EXEO CORPORATION
Mar.1999
Relocated head office to current address in Shibuya-ku, Tokyo
Apr.2004
Acquired Daiwa Densetsu Corp.
May2004
Acquired WAKO ENGINEERING CORP.
Apr.2005
Acquired KANAC Corp.
Sep.2009
KANAC Corp. was converted into a wholly owned subsidiary
Year ended September
1974:
Achieved annual net sales of
¥50 billion
May 1954
Company established
as Kyowa Densetsu
Kaisha, Ltd.
Feb. 1963
Listed on the Second
Section of the Tokyo Stock
Exchange
Feb. 1972
Listed on the First Section
of the Tokyo Stock
Exchange
Feb. 1963
Started overseas work
(Honduras)
May 1991
Changed company
name to KYOWA EXEO
CORPORATION
Year ended September
1988:
¥100 billion
Apr. 1982
Branched out into the
software business
Apr. 1983
Developed a detailed telephone
charges statement system
Jun. 1986
Entered the environment business:
Sales activity started mainly in the
water treatment field
Aug. 1988
Acquired a construction technology
evaluation statement from the
Minister of Construction for the
development of a rainfall storage
penetration system
Feb. 1983
Started optical fiber work
throughout Japan
Dec. 1963
Implemented the shield
tunneling method for service
tunnel (communications tunnel)
work (Shirogane)
Apr. 1990
Entered the food plant
wastewater treatment
business and river
purification business
Mar. 1993
Started the PDC (MOVA)
service
Jul. 1956
Started Japan’s first telex
work (Osaka Central
Telegraph Office)
1954
Mobile
phone base
station
1960
1970
Fixed line of communications (access)
Metal
Fixed communication network (network)
Analog
1980
1990
Digital
Mobile communication network (mobile)
3
¥300 billion
May 2000
Acquired ISO14001
certification
Year ended March
1997:
¥200 billion
Jan. 1997
Acquired ISO9001
certification (Overseas
Division)
Mar. 1999
Relocated head office from
Akasaka to current address
in Shibuya-ku, Tokyo, as the
construction of the company
building was completed
Apr. 1999
Developed the Social
Insurance System
Apr. 1999
Deployed systemcoordinating solutions
Jul. 1995
Started Japan’s
pioneering work for
C·C·Box on national
route No. 1
Apr. 2001
Developed the Administrative
Organ Accounting System
Apr. 2005
Acquired KANAC Corp.
Oct. 2009
Won a gold medal at
the 40th World Skills
Competitions in Calgary,
Canada
Jun. 2003
Sold an Internet video
conference system
Jul. 2009
Entered into a system
engineering service
agreement with Tokyo
Stock Exchange
Oct. 2001
Entered the Type 2
telecommunications carriers
registry data center business;
Developed the i-mode-compliant
“Work Management System”
Apr. 2000
Started the dioxincountermeasure-compliant
incinerator business
May 2003
Completed the first bio
plant (Iwate Prefecture)
Jun. 2001
Completed a livestock waste
discharge and purification facility;
Full-fledged entry into the livestock
excreta disposal business
Jun. 2002
Acquired the ash fusion
business from Niigata
Engineering Co., Ltd.
Apr. 2005
Aggressively marketed
the thermite-style dualside ash fusion furnace
Oct. 2001
Started full-fledged IMT
(FOMA) service
Oct. 1996
Started Japan’s
pioneering Internetcompliant OCN
establishment work
(Chiyoda-ku)
May 2004
Celebrated the 50th
anniversary of foundation
Sep. 2009
KANAC Corp. was
converted into a wholly
owned subsidiary
Apr. 2003
Started analog-analog
antenna exchange work
compliant with ground
digital broadcasting
Mar. 2004
Telephone communications
via the FOMA format became
available at all subway stations
in all 23 wards in Tokyo
Mar. 2004
Entered in the KDDI
au base station
construction business
Apr. 2004
Started to reestablish the
railway communication network
along with the quadruple track
Mobile phone base station extension of private railway
lines in Tokyo
Jan. 2002
Feb. 2005
Made progress on work
Started the KDDI Metal
Plus service
for the B FLET’S highspeed communication
Sep. 2006
broadband
Started work for the
next-generation network
(NGN)
Nov. 2011
ICOMSYSTECH Co., Ltd.,
was converted into a wholly
owned subsidiary
Feb. 2011
Received the IBM Excellent
Partner Award Japan 2010
Jun. 2011
Authorized as a Core
Business Partner of NTT
DATA CORPORATION
Mar. 2006
Started sales of a wood
biomass boiler system
Aug. 2006
Started long-term
comprehensive business
consignment services at
general waste treatment
sites (Tochigi Prefecture)
Oct. 2010
First general waste
incinerator completed
(Aomori Prefecture)
Oct. 2006
Increased works
related to mobile phone
number portability
Mar. 2011
Started Great East Japan
Earthquake recovery work
Feb. 2009
Started the UQ
WiMAX service
Mar. 2009
Started operation of EDISO, or Electronic Data
Interchange—Service Order
Process Management
System
Mar. 2010
Expanded the regional
intranet establishment
business
Dec. 2010
Started the LTE (Xi)
service
2000
2010
Apr. 2011
Started next-generation
PHS work
Apr. 2012
Upon receiving a permit for
a 900-MHz zone, started the
Platinum Band Project
Communications Infrastructure
Jun. 1994
Acquired a construction
technology evaluation
statement from the Minister
of Construction for the
development of a highefficiency river purification
system
Sep. 2003
Acquired OHSAS18001
certification
May 2004
Acquired WAKO
ENGINEERING CORP.
Oct. 2011
Won a gold medal at the 41st
World Skills Competitions in
London
Environmental/Social Infrastructure
Apr. 1994
Developed the Air
Traffic Control System
Nov. 2001
Instituted a compliance
program
Nov. 2007
Won a gold medal at
Competitions in Shizuoka,
Japan
Apr. 2004
Acquired Daiwa
Densetsu Corp.
Aug. 2011
WAKO ENGINEERING CORP.,
Daiwa Densetsu Corporation
and Ikeno Tsuken Co., Ltd., were
converted into wholly owned
subsidiaries
System Solutions
Feb. 1999
Acquired ISO9001
certification (Head
Office, etc.)
Apr. 2001
Merged with Showa
Technos Corp.
Jan. 2006
Acquired the ISMS
certification
May 2010
Made Ikeno Tsuken Co., Ltd.,
a consolidated subsidiary
Business Topics
Jun. 2005
Won a gold medal at
Competitions in Helsinki,
Finland
Year ended March
2006:
2012
Optical fiber
IP
2nd generation
NGN
3rd generation
3.5th generation
3.9th generation
4
To help you better understand the
corporate activities of the KYOWA EXEO
Group, we are providing an integratedversion issue of the Annual Report and
the CSR Report.
Corporate Data
5
Company Name
KYOWA EXEO CORPORATION
Established
May 17, 1954
Paid-in Capital
¥6,888 million (as of April 1, 2012)
Stock Listing
First Section of the Tokyo Stock Exchange
Representatives
Kunio Ishikawa, President
Fuminori Kozono, Vice President
Net Sales
¥273.1 billion (consolidated)
¥200.0 billion (non-consolidated) (as of March 31, 2012)
Number of
Employees
7,872 (consolidated)
3,543 (non-consolidated) (as of March 31, 2012)
Head Office
29-20, Shibuya 3-chome, Shibuya-ku, Tokyo
TEL: +81-3-5778-1111 (switchboard)
URL: http://www.exeo.co.jp
West Japan Head
Office
6-13, Kyomachibori 3-chome, Nishi-ku, Osaka
TEL: +81-6-6459-1581
Number of
Business Offices
Branch offices: 14
Sales offices: 14
Major Banks
Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, The Bank
of Tokyo-Mitsubishi UFJ, Ltd.
Independent
Auditor
Kudan Audit Corporation
Contents
Business Overview�� 7
Consolidated Financial Highlights�� 11
Message from the President�� 13
Interview with the President�� 15
One year has passed since the Great East
Japan Earthquake. The KYOWA EXEO Group
continues moving ahead from reconstruction
to revitalization hand-in-hand with the people
in the devastated areas.
The KYOWA EXEO Group contributes to
creating an earth-friendly society through its
environment business.
Features Social Contribution through Business Activities
1
From Restoration to Revival and to Revitalization
2
Initiatives toward Creating
3
Preparing for the Smartphone Era
4
Cultivating Employees
Utilize the capabilities of the KYOWA EXEO Group for the future of afflicted areas.� 19
A Symbiotic Environmental Society�� 21
Creating a connected society�� 23
That can think onsite�� 25
CSR Concept�� 27
Management Systems
The KYOWA EXEO Group contributes to
creating a comfortable society by taking
advantage of its state-of-the-art technologies.
Corporate Governance�� 29
Compliance�� 30
Risk Management�� 31
Involvement in the Environment
Environmental Management�� 33
Financial Section�� 37
The KYOWA EXEO Group focuses its efforts
on “cultivating human resources” who can
contribute to society.
Board of Directors�� 52
Stock Information�� 53
Editorial Policy�� 54
6
Business Overview
Linking all Communications.
We Contribute to Creating an Affluent Society with Two Types of Solutions.
The KYOWA EXEO Group works to contribute to the realization of an affluent society and perform its corporate
social responsibility by providing high-value-added ENGINEERING SOLUTIONS and SYSTEM SOLUTIONS.
Antennas and base
stations for mobile
terminals
Switching,
transmission and
power equipment
Home networking
Mobile
communications
Home
Communications cables
CATV
Ground digital broadcasting
Communications tunnels (underground conduits, service tunnels)
Underground installation of electricity cables
Wireless base station
Railway communications
Overview by Segment
ENGINEERING SOLUTIONS
Telecommunications Infrastructure
As broadband services are expanding toward the building of a safe and secure ICT
society, the diversification and sophistication of various technologies are under way. We
provide consistent quality services from planning and design to construction, operation
and maintenance for all types of communications equipment and facilities throughout
the country based on performance over the years and excellent technologies.
NTT Group Engineering
Non-NTT Telecom Engineering
Building Telecommunications Facilities for NTT Group Companies
Establishing various telecommunications facilities for
customers other than the NTT Group companies, as well as
providing network integration services
Access engineering: We lay optical fiber cable networks, which are
indispensable for high-speed communication networking, and provide
broadband services such as the Internet to corporations and ordinary homes.
Network engineering: We build next-generation networks
(NGNs) using leading-edge routers and servers. We also design,
construct and maintain switchers, transmission equipment and
power equipment of legacy facilities, all of which support today’s
communications networks.
Mobile engineering: We provide installations, negotiations
and investigations for wireless phone base stations, mobile
communications facilities and quality surveys toward the realization
of comfortable mobile communications environments.
7
Telecommunications facilities: We construct telecommunications
facilities for new common carriers (NCCs) such as the KDDI
Group and the Softbank Group, municipalities, cable television
companies, railway companies and other customers.
Network integration: We provide various services including
constructing LANs and WANs for corporations and ordinary
homes, improvement of server/Internet environments and security.
C r eat e “ L in k ages ” in Soc i e ty
Business Overview
Internet
Electrical/air-conditioning
equipment and solar
power generation facilities
Microwave transmissions
Environmental preservation
facilities (water treatment,
waste treatment and new
energy facilities)
Software development
LAN/WAN/IP network
establishment
Office buildings
Factories and other
facilities
Wireless LANs
Information security
Seismic isolation solutions
Digital signage
Water supply and
sewage systems
Environmental and Social Infrastructure:
We develop the electrical and engineering technologies that we have accumulated in building
telecommunications infrastructure facilities to improve the social infrastructure including electrical and airconditioning equipment, new energy facilities, urban civil engineering structures and environmental plants.
Electrical and air-conditioning equipment: We install electrical and
air-conditioning equipment for facilities such as office buildings, data
centers and factories.
New energy: We construct solar and wood biomass power
generation facilities.
Urban civil engineering: We install underground installation of
electricity cables for the purpose of disaster prevention, safety and
landscaping countermeasures.
Environmental plants: We construct waste treatment and water
treatment facilities.
SYSTEM SOLUTIONS
To help customers solve their management issues, we provide system solution services tailored to a
variety of customer needs, which encompass everything from consulting to development, construction,
maintenance and operation, by drawing on the latest technologies such as service-oriented architecture
(SOA) and our powerful solutions.
SOA: We provide BPM and SOA solutions to swiftly cope with changes in
the business environment such as the integration of data and processes
by linking disparate systems within and/or among companies.
Billing: We provide billing solutions such as customer-specific billing
systems to flexibly adapt to market changes and/or business expansion.
Communications systems/Public and common interest-related systems:
We develop communication software products for telecommunications
carriers, and we handle orders from large system integrators through
government agencies for financial systems.
Application development: We develop WEB applications based on
technologies amassed internally, as well as Android-related applications.
8
Business Overview
Strength of the KYOWA EXEO Group
Drawing on the Group’s strengths of “Total Process,” “Total Engineering” and “Nationwide Expansion,”
we continue to provide high-quality services to meet diversifying customer needs through the concerted
Group-wide power.
Total Process
We respond to customers’
needs with one-stop
services from planning and
development to construction,
operation and maintenance,
which are sustained by high
engineering and technological
capabilities.
Total Engineering
We meet diversified
customers’ needs by
fully drawing on the latest
technologies in a wide
variety of fields such as
telecommunications, civil
engineering, electricity,
network integration (NI)
and system integration
(SI).
From Planning
to Maintenance
Nationwide Expansion
Group of
Professionals Who
Are Acquainted
with Every Kind of
Technology
Support
Nationwide
We are prepared to meet
every kind of customer
need, which can be
covered by our operating
bases and Group
companies located
throughout the nation.
Total Process (through-process construction)
Planning and development
Construction
Operation and maintenance
SYSTEM SOLUTIONS
ENGINEERING SOLUTIONS
Total engineering (Unified construction)
Optical access network
Next-generation network (NGN)
Mobile (Speeding up) 2G
3G
LTE
Underground installation of electricity cables
NI solutions and SI solutions
New energy (solar light, etc.) eco business
Electric and air-conditioning equipment
Home ICT and Smart Houses
Nationwide operation, multiple carrier compliant and migration-compliant
9
Business Overview
Group Structure
(As of July 1, 2012)
Th r e e M a jor C o n s o l i d a t e d S u b s i d i a r i e s
Daiwa Densetsu Corporation
WAKO ENGINEERING CORP.
Ikeno Tsuken Co., Ltd.
35 Other Consolidated Subsidiaries
Access
engineering
Shinyei Tsushin Co., Ltd., Suncrex Corporation, FUJI DENSETSU CO., LTD., Ecos Hokuei Corporation, Sankyo-Techno Co., Ltd.,
Umex Chugoku Corporation, KANAC Corporation, K. Technos Co., Ltd., WAKO CTEC Co., Ltd., WAKO Itech Co., Ltd., Technos
Co., Ltd., Sigmax Co., Ltd., Vertec Co., Ltd., EUNice Co., Ltd.
Civil
engineering
Exeo Infra Corporation, Infratechno Corporation
Networks
Kyowa Synax Corporation, DAITOH INDUSTRY CO., LTD., Shinkyo Engineering Co., Ltd., Sanko Denwa Kogyo Co., Ltd.,
Multimedia Engineering Co., Ltd.
Mobile telecommunications
Exeo Sanko Corporation, E Net Corporation, Toho Communications Co., Ltd., Yuaituken Corporation, Kyoei Densetsu Kogyo
Corporation, Denseisya Corporation
IT
ACCRESCO CO., LTD., ICOMSYSTECH CO., Ltd.
Other
KYOWA SECURITY SYSTEM CORPORATION, Kyokuyoh Corporation, Shinwa Seisakusyo Corporation, Exeo Butsuryuu Service
Corporation, Exeo Business Corporation, ASAHI DENWA KOGYO CORPORATION
Business Bases
Domestic bases:
(
(As of September 1, 2012)
Branches/
Offices)
Head Office: 29-20, Shibuya 3-chome, Shibuya-ku, Tokyo
Nishi-Nippon Head Office: 6-13, Kyomachibori 3-chome, Nishi-ku, Osaka-shi, Osaka
Hokkaido Branch: 2-20, Minami 21-jo Nishi 7-chome, Chuo-ku, Sapporo-shi, Hokkaido
Iwate Office: 5-7, Honcho-dori 2-chome, Morioka-shi, Iwate
Tohoku Branch: 5-1, Omachi 2-chome, Aoba-ku, Sendai-shi, Miyagi
Yamagata Office: 9-10, Minami Yonban-cho, Yamagata-shi, Yamagata
Kita-Kanto Branch: 1486 Kasahara-cho, Mito-shi, Ibaraki
Niigata Office: Cosmo Shinano, 4-27 Shinano-machi, Chuo-ku, Niigata-shi, Niigata
Koshin Branch: 602-2, Ochiai-cho, Kofu-shi, Yamanashi
Nagano Office: Nagano Central Building, 12-1, Minami Chitose 2-chome, Nagano-shi, Nagano
Minami Kanto Branch: 12-1 Kanagawahoncho, Kanagawa-ku, Yokohama-shi, Kanagawa
Chiba Office: Chiba West Building, 24-9 Shinmachi, Chuo-ku, Chiba-shi, Chiba
Tokai Branch: Nishiki SIS Bldg., 10-33, Nishiki 3-chome, Naka-ku, Nagoya-shi, Aichi
Kanto Naka Office: NTT Shirahata, 1-23, Shirahata 5-chome, Minami-ku, Saitama-shi, Saitama
Kansai Branch: 6-13, Kyomachibori 3-chome, Nishi-ku, Osaka-shi, Osaka
Miyako Branch: 539-20, Omiya Nishiiru Monzen-cho, Oike-dori, Chukyo-ku, Kyoto-shi, Kyoto
Matsuyama Office: Sumitomo Seimei Matsuyama Ichibancho Building, 15-2,
Ichibancho 1-chome, Matsuyama-shi, Ehime
Hyogo Branch: 1-13, Ekiminami-dori 2-chome, Hyogo-ku, Kobe-shi, Hyogo
Okayama Office: 498-1, Niwase, Kita-ku, Okayama-shi, Okayama
Hokuriku Branch: Kanazawa Fit Building, 53-1 Futakuchi-machi-Ni, Kanazawa-shi, Ishikawa
Yamaguchi Office: 19-2, Ekiminami-machi, Hofu-shi, Yamaguchi
Shikoku Branch: 136, Mitani-cho, Takamatsu-shi, Kagawa
Kumamoto Office: 27-23, Egoe 1-chome, Minami-ku, Kumamoto-shi, Kumamoto
Chugoku Branch: 7-11, Ogawachi-machi 2-chome, Nishi-ku, Hiroshima-shi, Hiroshima
Kitakyushu Office: 1320-13, Aza Otsuka, Oaza Maeda, Yahatahigashi-ku, Kitakyushu-shi, Fukuoka
Kyushu Branch: 7-8, Tamagawa-machi, Minami-ku, Fukuoka-shi, Fukuoka
Nagasaki Office: NTT WEST Higashi Nagasaki Building, 823 Tanaka-machi, Nagasaki-shi, Nagasaki
Okinawa Branch: 30-52, Oroku 1-chome, Naha-shi, Okinawa
Oita Office: NTT Harashin Building, 5-1, Harushinmachi, Oita-shi, Oita
Minami-Kyushu Office: 6, Kasuga-cho 4-chome, Kagoshima-shi, Kagoshima
Bases of Three Major Consolidated Subsidiaries
WAKO ENGINEERING CORP.:
Daiwa Densetsu Corporation:
Ikeno Tsuken Co., Ltd.:
1-23, Heiwajima 4-chome, Ota-ku, Tokyo
5-1, Omachi 2-chome, Aoba-ku, Sendai-shi, Miyagi
9-4, Kishimachi 1-chome, Kita-ku, Tokyo
Overseas Bases
Thailand
56/8 Moo 1 Soi Chaengwattana 14 Chaengwattana Road,
Thungsonghong, Laksi, Bangkok 10210, THAILAND
Philippines
/F Floor, DPC Place Building 2322 Chino Roces Ave. 1231 Makati City,
9
Philippines
10
Consolidated Financial Highlights
Business Results for Fiscal 2009 through Fiscal 2011
(Billions of yen)
2009
2010
2011
Orders received
276.2
273.7
288.5
Net sales
271.2
282.2
273.1
Operating income
13.8
12.3
8.9
Income before income taxes
13.6
13.4
12.0
8.3
7.7
7.8
180.1
196.9
181.2
Property and equipment
45.2
48.4
47.7
Noncurrent liabilities
25.3
9.6
13.9
105.3
112.2
113.4
Net cash provided by (used in) operating activities
10.9
0.6
16.4
Net cash provided by (used in) investing activities
10.6
1.5
4.5
Net cash provided by (used in) financing activities
4.0
3.6
17.5
Operating results (Fiscal year):
Net income
Financial position (at year-end)
Total assets
Net assets
Cash flows (Fiscal year)
(¥)
Per share of common stock:
Net income (EPS)
79.7
75.5
74.9
Diluted net income
73.8
69.7
74.8
Cash dividend
20.0
20.0
20.0
(%)
Financial indicators:
Operating income margin
5.1
4.4
3.3
ROE (Note 2)
8.6
7.6
7.2
ROA (Note 3)
4.7
4.1
4.2
55.4
53.9
62.4
Equity ratio
Notes: 1. Amounts less than ¥100 million were truncated.
2. ROE = Net income ÷ Total shareholders’ equity (yearly average)
3. ROA = Net income ÷ Total assets (yearly average)
Orders received (¥Billion)
276.2
273.7
288.5
Net sales (¥Billion)
271.2
282.2
Operating income (¥Billion)
Net Sales by Segment
Operating income margin (%)
Operating income
Operating income margin
273.1
13.8
Environmental and
Social Infrastructure
¥26.3 billion
(9.7%)
12.3
SYSTEM
SOLUTIONS
¥13.1 billion
(4.8%)
8.9
¥273.1
billion
5.1
4.4
3.3
2009
2010
2011
2009
Note: Amounts less than ¥100 million are truncated.
11
2010
2011
2009
2010
2011
Telecommunications
Infrastructure
(Multi-carriers)
¥67.4 billion
(24.7%)
Telecommunications
Infrastructure
(NTT Group)
¥166.1 billion
(60.8%)
Consolidated Financial Highlights
Business Plan for Fiscal 2012
Based on our medium-term vision (fiscal 2010–2012), we will promote aggressive business
expansion and thoroughly enhance efficiency, aiming to increase revenues and income.
Medium-term
vision
2010–2012
Basic Policy for
Fiscal 2012
1
Expand businesses and achieve new
growth as an ICT solutions and services
enterprise.
Strive to achieve a V-shaped recovery and upward momentum
Thoroughly enhance efficiency and promote expansion of non-NTT businesses
Thoroughly enhance efficiency
Net sales(
288.0
Enhance efficiency and quality of construction
Integrate and share operational bases and resources
Improve productivity of the Group
2
(35%)
Non-NTT/
271.2
(38%)
NTT) (¥Billion)
Operating income margin (%)
282.2
273.1
(42%)
(39%)
286.0
(47%)
6.6
5.1
Expand Non-NTT businesses
4.4
Adopt multi-carriers (NCC, etc.)
4.1
3.3
Expand environmental and social infrastructure (solar energy, etc.)
Expand system solutions
(synergies with Icom Systech Co., Ltd., etc.)
2008
2009
2010
2011
2012 (plan)
Notes:1. Amounts less than ¥100 million are truncated. 2. Parentheses include the ratios of non-NTT businesses.
Promote M&A
Numerical targets Fiscal 2012 plan (consolidated)
(Billions of yen)
2011
Actual results
2012
Plan
Comparison with 2011
Orders received
288.5
283.0
98%
Net sales
273.1
286.0
105%
Gross profit on sales
26.8 (9.8%)
30.7 (10.7%)
Selling, general and administrative expenses
17.8 (6.5%)
19.1 (6.7%)
107%
8.9 (3.3%)
11.6 (4.1%)
130%
Ordinary income
9.1 (3.4%)
12.3 (4.3%)
134%
Net income
7.8 (2.9%)
7.5 (2.6%)
95%
Operating income
115%
Notes:1. Amounts less than ¥100 million are truncated. 2. Parentheses include the ratio relative to net sales.
12
Message from the President
13
We will contribute to the creation of
Message from the President
an affluent living environment through
continuous growth.
The KYOWA EXEO Group, since its establishment
in 1954, has promoted business activities drawing
on its core competence in professional technologies
for establishing information communications
facilities and equipment. We have offered
consistent integrated services nationwide from
planning, design, construction and management
to maintenance for all facilities related to the
information communications infrastructure.
As for our recent business results, we have
established not only an information communications
infrastructure but also an environmental and
social infrastructure harnessing our long-nurtured
environmental, civil engineering and electrical
facility technologies. We also have developed many
sophisticated software products. By offering various
high-value-added solutions through these activities,
the KYOWA EXEO Group has been contributing to
society as a corporation creating an affluent living
environment.
The Kyowa of the KYOWA EXEO Group refers
to cooperation, harmony and the bonds between
persons and the Latin exeo, meaning “stand out”
or “get out of something,” thereby conveying our
commitment to breaking the mold and venturing out
into new challenges.
Under the corporate vision of expanding
businesses as an information communications
technology (ICT) solutions and services enterprise
and achieving new growth, we will strive to capitalize
on business opportunities, aiming for continual
growth, with an emphasis on bonds and ties among
people and the spirit of pursuing innovation and
tackling challenges.
Kunio Ishikawa
President
14
Interview with the President
We will expand new
businesses and promote
the rationalization of
management, aiming
to achieve a V-shaped
recovery.
Q
Please explain the business performance
and results of the KYOWA EXEO Group (the
“Group”) for fiscal 2011.
A
Although net sales and operating income
decreased, we had steady business results
that will lead to growth for the next fiscal year.
Under the basic policy “Expand businesses and achieve
new growth as an ICT solutions and services enterprise,”
the KYOWA EXEO Group launched its medium-term
management plan in fiscal 2010. In fiscal 2011, the second
year of the plan, orders received progressed steadily due
to our aggressive sales activities to ¥288.5 billion (up 5%
from the previous fiscal year), whereas net sales decreased
3% to ¥273.1 billion and operating income declined 28%
to ¥8.9 billion due to the impact of the Great East Japan
Earthquake, a temporary rise in unprofitable construction
and initial expenses for reinforcing a structure to expand
new fields.
We had steady results that can lead to growth for
Orders received (¥billion)
273.7
288.5
283.0
Net sales (¥billion)
282.3
the next fiscal year. For the restoration work of our
telecommunications infrastructure suspended by the Great
East Japan Earthquake, KYOWA EXEO CORPORATION
(the “Company”) sent as many as 15,000 persons a day
to the Tohoku region for the two months immediately after
the occurrence of the earthquake. Our employees have
been highly motivated to help with the restoration. It was
confirmed that all our employees have a sense of mission as
part of a corporation engaging in the telecommunications
construction industry, for which we felt proud of them.
Especially when our employees executed the high power
antenna installation construction work at the 40-meter-high
base station in order to secure communications for workers
at the Fukushima Daiichi nuclear power plant despite
lingering anxiety about radiation contamination and strong
aftershocks, our customers expressed much appreciation,
which we believe has contributed to further strengthening
people’s trust in the Company.
For the expansion of new businesses as well, the
Company posted steady business results. Although the
Operating income (¥billion)
286.0
273.1
12.4
11.6
8.9
2010
15
2011
2012
(Plan)
2010
2011
2012
(Plan)
2010
2011
2012
(Plan)
Antenna installation construction
concentrated in the previous fiscal year, and through
thorough efforts to enhance managerial efficiency.
Although the external environment shows a decreasing
trend of NTT’s capital investment in fixed communications
facilities, we predict a medium- to long-term increase in
demand for mobile communications. Specifically, there will
be larger demand for traffic control measures associated
with the dissemination of smart phones, the expansion of
LTE and other high-speed mobile communications services,
the reorganization of platinum band and other frequency
bands and Wi-Fi or other such data offloading.
We also predict that our business opportunities will
expand to such fields as ICT, new energy, disaster
prevention, damage alleviation and restoration demand.
In fiscal 2012, with a strong commitment to achieving
a V-shaped recovery of business results and recovering
growth momentum, we will focus on the expansion of nonNTT businesses and thorough improvement of the efficiency
of Group management, thereby making a structure that can
generate profits.
Q
Please explain your forecast of the Group’s
business results for fiscal 2012.
Q
Please explain your policies regarding profit
distribution to shareholders.
A
We will increase revenues and income and strive
to achieve a V-shaped recovery.
A
We aim for stable and continuous profit
distribution to shareholders based on a
sound financial foundation.
For fiscal 2012, we forecast that orders received will
decrease 2% year over year to ¥283.0 billion but that
net sales will increase 5% to ¥286.0 billion and operating
income will advance 30% to ¥11.6 billion. With regard to
orders received, we predict a decrease in construction work
for restoration from the earthquake, which will, however,
be offset to the level of the previous fiscal year by the
expansion of non-NTT businesses.
As to net sales and operating income, we intend to
achieve increases in revenues by increasing construction
work including orders from the previous fiscal year and
eliminating unprofitable construction work, which was
The KYOWA EXEO Group regards profit distribution to
shareholders as an important managerial issue and holds
a basic policy of stable and continuous profit distribution
to shareholders based on a sound financial foundation. We
plan to pay ¥20 per share in fiscal 2012, the same as in
fiscal 2011. About the purchase of treasury stock, we set
a limit of 2 million shares of treasury stock for fiscal 2012 in
addition to 3.5 million shares for fiscal 2011. The dividend
payout ratio for fiscal 2012 will be approximately 50%, which
should be a satisfactory standard for shareholders. We will
implement appropriate profit distribution to shareholders
while aggressively investing in growth fields and M&A.
Dividend per Share
Purchase of Treasury Stock
Dividend
Dividend Payout Ratio
Number of Shares Purchased
Treasury Stock Holding Ratio
Purchased
4 million shares
¥20
¥20
¥20
¥20
¥20
¥20
¥18
Purchased
2.97 million shares
22.6%
25.1%
26.5%
26.7%
Purchased
3.50 million shares
Company’s dependence on NTT is an advantage, there
is a risk of an uneven revenue structure. With a goal of
expanding non-NTT businesses as a medium-term goal
of the KYOWA EXEO Group, in fiscal 2011, we expanded
orders received in NCC businesses 1.7 times above the
previous fiscal year. Also, the environmental and social
infrastructure businesses including that for mega solar
energy expanded steadily.
In addition, we aggressively promoted M&A. In the
engineering solution field, the Company made its three
major subsidiaries—WAKO ENGINEERING CORP., Daiwa
Densetsu Corporation and Ikeno Tsuken Co., Ltd.—wholly
owned subsidiaries. Furthermore, toward expansion of the
system solution business, the Company made Icom Systech
Co., Ltd., a software house, its wholly owned subsidiary.
These measures helped reinforce the Group structure,
which was a significant benefit.
Reflecting on the business results of the current fiscal
year, we would like to utilize these results for our growth in
the next fiscal year.
Set the limit of
2 million shares
to purchase
27.8%
11.7%
9.9%
20.3%
17.9%
10.0%
10.2%
10.2%
10.0%
6.7%
2006
2007
2008
2009
2010
2011
2012
(Plan)
2006
2007
2008
2009
2010
2011
2012
(Plan)
16
We will strengthen
solidarity among employees
and fulfill our social
responsibility through our
business activities.
Q
Please explain the Group’s CSR concept and
specific measures for that.
A
By converting the Group’s philosophy into
tangible forms, we will fulfill our social
responsibility.
A corporation has a mission to convert its corporate
philosophy into tangible forms. The KYOWA EXEO Group’s
corporate philosophy consists of “Nurturing technological
expertise,” “seeking affluence” and “contributing to society.”
We would like to fulfill our social responsibility by converting
the Group’s philosophy into tangible forms through our
The KYOWA EXEO Group is not a telecommunications
service operator or a manufacturer or a retailer of products.
We are a solutions and services provider that addresses
clients’ requests fully utilizing each employee’s technological
expertise. Our business activities for almost 90,000 projects
and construction works are the fruit of the concentration of
the know-how and technologies of our employees and the
organization.
The KYOWA EXEO Group has been striving to nurture
human resources because developing employees’
technological expertise links to the “fruit,” that is, the higher
quality and safety of projects and construction works,
thereby contributing to society. Also, the importance
of each employee’s own pursuit of affluence shouldn’t
be forgotten. If the working environment is not good or
employees are not motivated, their morale will decline
and it will be hard to obtain good results. The Company
Employee Satisfaction Survey
Are you satisfied with your current work and work environment?
22%
2011
Other
companies'
average
19%
32%
40%
60%
*Other companies’ average: Diamond Weekly (May 17, 2008, edition),
Questionnaire __ 1,000 full-time workers nationwide (answered by 700 men and 300 women)
17
4%
6%
2%
3%
30%
51%
20%
Dissatisfied
25%
55%
9%
0%
20%
58%
12%
2008
Not satisfied
47%
15%
2009
Satisfied
54%
28%
2010
Very satisfied
8%
80%
100%
Q
Please explain about the “Connection Culture”
that President Ishikawa advocates.
A
We think new value will be created by
knowing each other and through mutual
cooperation.
The “Connection Culture” that I ordinarily mention is an
attempt to recover the spirit of KYOWA’s inception—
“Cooperate and unite.” While working at the KYOWA EXEO
Group, it is important to create a corporate culture of trying
to know about the other person and his/her situation. By
nurturing a spirit that does not hesitate to sacrifice “Me”
for “We,” thereby maintaining a good balance between
competition and harmony; a solid trust relationship among
employees to the extent that the sense of camaraderie is
called “too strong”; and an atmosphere that fosters sincere
appreciation of coworkers’ success, we think we can
achieve a strong corporation. By disseminating such a spirit
throughout the Group, individuals, organizations and Group
companies will cooperate and new businesses and value are
created.
Although we don’t know how much “Connection Culture”
has been contributing to business results, the creation of
connections, I think, will result in a positive cycle: “Can enjoy
working for the Company Become passionate toward
work Good business results Appreciated by customers
Feel rewarded and work becomes more enjoyable.”
Employees being highly motivated and satisfied are important
for a corporation.
By employees uniting and working together through
“Connection Culture,” we would like to fulfill our social
responsibility through our business activities.
conducts employee satisfaction surveys on a continuous
basis. The satisfaction ratio of 67% in 2008 improved to
76% three years later. By deepening the linkage between
the Company and its employees and further improving our
employee welfare benefit plans, we would like to make a
work environment where each employee can maintain high
work ethics and feel rewarded. Such a work environment
will lead to the affluent lifestyles of employees and their
families, which, I think, has been and will be reflected in the
employee satisfaction surveys. Given our efforts to make the
Company’s foundation one where employees can work with
satisfaction, the quality of our solutions and services will
improve, through which we will contribute to the continuous
growth of society.
Positive cycle created by nurturing “Connection Culture”
Can enjoy working
for the Company
Become passionate
toward work
Appreciated by
customers
(Motivation for work goes up)
Good business results
(Contribute to society)
18
Feature 1
Social Contribution through Business Activities
From Restoration to Revival
and to Revitalization
Utilize the capabilities of the KYOWA EXEO Group for the future of afflicted areas.
Installed Tohoku Area Disaster Restoration Promotion Office
Established an in-house structure toward full-scale restoration and recovery
On March 11, 2011, as short as 10 minutes after the
occurrence of the Great East Japan Earthquake, the
Company launched a disaster countermeasure
headquarters headed by the President as the General
Manager. We hurried and confirmed the safety of our
employees and tried to determine the amount of damage to
the company building, while striving to grasp the damage to
the telecommunications infrastructure. We quickly launched
emergency restoration measures such as opening
emergency telecommunications lines and the recovery of
power sources at wireless base stations. From immediately
after the disaster, not only our employees in charge of the
Tohoku region but also those in charge of other regions
were sent to disaster sites and worked on emergency
recovery construction work. By May 15, 2011, two months
after the disaster, a total of 15,000 persons a day were
working at the afflicted sites. Employees who did not go to
the actual sites engaged in the procurement of materials
and equipment, fuels and food supply. The Group
companies nationwide and their employees worked hard as
one to support restoration from the disaster.
In June 2011, when the emergency restoration measures
were completed, to move on toward revitalization from
restoration/recovery, we installed the Tohoku Area Disaster
Restoration Promotion Office headed by the President to
promote reinforcement of the telecommunications
infrastructure, which has been operated to date.
Organization chart of KYOWA EXEO CORPORATION
(As of July 1, 2012)
Board of Directors
President
Vice President
NTT Operations Headquarters
NTT DOCOMO Operations Headquarters
Communications & Business Network Headquarters
Civil Engineering Headquarters
Electrical & Telecoms Engineering/Environmental Projects Headquarters
Business Solutions Headquarters
Tohoku Area Disaster Restoration Promotion Office
Home Network Business Promotion Department
Safety & Quality Control Headquarters
General Affairs Division
Human Resources Division
Accounts & Finance Division
Procurement Division
Corporate Planning Division
Audit Division
Group Business Development Division
IT Promotion Division
West Japan Head Office
Hokkaido Branch Office
Tohoku Branch Office
Kita Kanto Branch Office
Minami Kanto Branch Office
Koshin Branch Office
Tokai Branch Office
Kansai Branch Office
Shikoku Branch Office
Chugoku Branch Office
Kyushu Branch Office
19
Cultivating
Technological
Capabilities,
Seeking
Affluence, and
Contributing to
Society
Iwate
Prefecture
Shizugawa
Station
A tunnel for underground cables was
excavated under the river to prepare
for future flooding disasters, with the
work intended to raise the reliability
of communication facilities
Miyako
Ohzuchi
Kirikiri Station
Ohfunato
Azumabashi
Bridge
Namiita
Seacoast
Minamisanrikucho
Yamada Ohtsuchi
Station
Line
Miyagi
Prefecture
Ohtsuichi
Ohashi
Bridge
EXEO Group took charge of restoring three of those
bridges. The tunneling distance for jacking at the Ohtsuchi
Ohashi Bridge (Iwate Prefecture)—the longest of the nine
bridges—was 245.1 m, and the level of difficulty was high.
Before the The status of under-bridge cables
earthquake: attached underneath the bridge
The Ohtsuchi Ohashi Bridge from which the
After the
earthquake: attached conduits and cables were removed
Features
Following the Great East Japan Earthquake last year, many
bridges were destroyed by the tsunami and the
communications cable conduits that hang under bridges
were also damaged, rendering communications impossible
for some time.
To prepare for future disasters, at our optical networking
facility project between Miyako and Ohfunato we adopted
the so-called under-bridge cabling passage method instead
of laying conduit alongside a bridge. With this method, a
small-diameter conduit tunnel of 400–500 mm was
excavated under the channel of the river to bury the cables
and enhance the reliability of communication facilities.
NTT suffered earthquake damage to its equipment at
nine bridges in Iwate and Miyagi prefectures. The KYOWA
Namiita
Bridge
What is under-bridge cabling passage work?
Fig. A
Fig. B
Communications
cables
Communications
cables
Usually, communications cable conduits are fixed underneath a bridge to sustain communications equipment. However, in the aforementioned project, a
small tunnel of 400–500 mm in diameter was excavated deep below the channel to accommodate the conduit (Fig. B). This under-bridge cabling passage
protects the communications equipment by preventing the communications cables from being washed away even if the bridge is damaged by flooding.
VOICE
Aiming to establish solid facilities that facilitate
communications even in a disaster
The area in which I was in charge of work was completely destroyed by the tsunami;
even the town hall was displaced by the flooding. As the drawings of the bridge had
been destroyed, we had difficulty collecting and drawing up preparatory materials for the
excavation below the bridge. We made careful preparations including a magnetic exploration
to identify any hidden obstacles such as the foundation of the bridge that might hinder our
excavation efforts for the tunnel below the channel. Fortunately, we completed the works
for all three bridges entrusted to the Group according to the construction schedule without
interruption or reworking. I believe this successful completion is a product of the Group’s
technological capabilities. Following the Great East Japan Earthquake, highly disasterresistant communications facilities have been in demand everywhere. We at the KYOWA
EXEO Group will accept the challenge to address this need Group-wide.
Toyohiro Ono, Project Manager,
Civil Engineering Section,
Civil Engineering Headquarters
20
Feature 2
Social Contribution through Our Businesses
Initiatives toward Creating
A Symbiotic Environmental Society
Initiatives toward environmental business
The KYOWA EXEO Group has been committed to
environmental improvement in its own business activities
and the provision of construction methods and products
with less environmental load for more than 20 years in
efforts to reduce its environmental impact. This approach is
aimed at preserving the global environment and contributing
to the creation of a society in which people can live with a
sense of safety. In fiscal 2011, the Group promoted the
provision of various eco-friendly technologies in different
fields, including waste treatment technologies for
incineration and recycling facilities, renewable energy
This business contributes to improving social
infrastructure and environmental protection by
laying power and communications cables inside
the common utility ducts buried underground
and removing electricity poles on roads.
The incineration, ash fusion
furnace and recycling facilities
that are designed by the
Company help resolve waste
disposal issues at many
municipalities.
Waste
treatment
technology
Our advanced water treatment
technology addresses diversified
water-related issues including the
provision of water supply/
sewerage treatment systems,
water disposal facilities in isolated
villages and the treatment of
wastewater discharged from
industrial establishments or
factories.
Water
treatment
technology
Before the
construction
work
Work for
underground
installation of
electricity cables
EXEO’s
Environmental
Businesses
We are active in
submitting installation
proposals for power
generation systems on
rooftops or other sites at
customer facilities, as
well as construction
proposals for mega solar
systems.
21
technologies for wood biomass boilers and solar power
generation systems, and water treatment technologies for
industrial wastewater and sewage treatment facilities. The
Group intends to contribute to the environmental
preservation of overall society and a recycling-oriented
society by actively involving itself in social environment
improvement businesses. Such a pioneering approach
includes flood control, renewal and preservation of the water
cycle, and the underground installation of electricity cables
using common utility ducts.
Renewable energy
technology
After the construction
work
Solar power
generation
facilities
Drawing on the
technological capabilities
of a plant manufacturer
that the Company
acquired, we are engaged
in constructing renewable
energy facilities such as
wood biomass boilers and
garbage fermentation
facilities
E co-friendly construction
methods, products,
examples of work, and
research and development
addressed by the Company
Waste treatment technology
Waste treatment facilities,
ash fusion furnace
facilities, methane
fermentation facilities,
recycling facilities,
disassembly business of
waste treatment facilities
and wood biomass boilers
Water treatment technology
Sewerage treatment facilities,
final disposal site leachate
treatment facilities, rainfall
storage penetration facilities
and lake purification facilities
Others
Work for underground
installation of electricity
cables and solar power
generation facilities
Cultivating
Technological
Capabilities,
Seeking
Affluence, and
Contributing to
Society
Endeavoring to contribute to the reduction of CO2 emissions through
the propagation of solar power generation systems
CO2 emissions by power supply
1.0
(Kg)
power generation efficiency of various types of modules. The
results are used not only for appropriate proposals to
customers intending to implement solar power generation
systems but also for our initiative to reduce CO2 emissions.
A “system to purchase electricity from renewable energy
sources at a fixed price” by power companies was enforced
in July 2012. In response to this new policy, we installed a
solar power generation system on the rooftop of the Fuchu
Technology Center (Fuchu, Tokyo) of which the maximum
output capacity is 100 kW.
We will positively propose the enhanced use of solar
power generation systems to contribute to the prevention of
global warming and the reduction of CO2 emissions.
Single crystal type
for 40 kW
Amorphous thin-film
type for 2.52 kW
Compound type
for 10 kW
Features
Following the nuclear accident at Fukushima triggered by the
Great East Japan Earthquake that occurred on March 11,
2011, as well as concern about the possible shortage of the
electric power supply, people’s interest in power generation
via renewable energy has been rising. In particular, from the
viewpoint of protecting the global environment, the
implementation of solar power generation systems has been
expanding in Japan due to fewer CO2 emissions.
The KYOWA EXEO Group is reviewing its environmental
countermeasures and system performance evaluation along
with the introduction of solar power generation systems at
its own facilities. At the same time, we are active in
submitting installation proposals for power generation
systems on rooftops or other sites at customer facilities, as
well as construction proposals for mega solar systems.
The solar power generation system implemented at the
Tokyo Integrated Engineering Center (Ota-ku, Tokyo) is
expected to generate annual electricity output of
approximately 60 MWh, which will account for about 5% of
the electricity consumed by the Center. Three different types
of photovoltaic battery modules—the silicon single-crystal
type with high power generating efficiency, the thin-film
module compound (CIS) type and the easily bendable,
amorphous thin-film type—were arranged (see the photo at
right) to monitor and record operating data such as the
Solar power generation facilities on the rooftop of the Tokyo Integrated Engineering Center
Note: CO2 emissions per 1 kW/h; Prepared from data issued by the Agency
for Natural Resources and Energy
0.8
0.6
0.4
0.2
Hydraulic
Geothermal
Wind
Solar
Nuclear
LNG thermal
VOICE
Petroleum thermal
Charcoal thermal
Power generation type
0
Solar power generation facilities on the rooftop of the Fuchu Technology Center
Social contribution by disseminating solar power
generation facilities
I’m in charge of sales of solar power generation facilities mainly to private companies. Until
last year, my sales activity was to promote the implementation of solar power generation
facilities from the viewpoint of corporate PR or CSR. With the system to purchase electricity
from renewable energy sources by power companies starting in July 2012, inquiries have
increased rapidly. As solar light is a renewable energy source and solar power generation
systems emit only small amounts of CO2, I expect such facilities to be increasingly used in
the future.
As a salesperson, I struggle to achieve my sales targets, but I take pride in increasing my
sales performance by contributing to society with the reduction in CO2 emissions.
Sota Maki, Manager, Corporate Sales
Section, Electrical & Telecoms Engineering
Department, Electrical & Telecoms Engineering /
Environmental Projects Headquarters
22
Feature 3
Preparing for the
Smartphone Era
Creating a connected society
Putting the infrastructure in place to quickly handle
the explosive traffic volume
In Japan, the use of smartphones and tablet terminals has
been spreading rapidly. The data traffic of smartphones is
estimated to be 10–20 times more voluminous than that of
conventional mobile phones (feature phones). Consequently,
coping with the surge in traffic volume is a pressing issue in
the ICT society.
One measure to address the traffic volume is the active
introduction of high-speed mobile communications services
such as LTE, WiMAX and A-XGP, which are being
aggressively promoted by telecommunications carriers. In
addition, a radio wave frequency called Platinum band* has
been newly allocated for mobile phones to address
frequency reorganization in response to the rise in traffic
volume.
The KYOWA EXEO Group is endeavoring to establish
quickly a variety of mobile-related telecommunications
infrastructure solutions including the construction of base
stations in relation to the enhanced high-speed mobile
communications services and frequency reorganization, as
well as the enforcement of equipment related to such
construction.
In recent years, the so-called data offload measure to let
the boost in traffic go to fixed-line communications networks
via Wi-Fi and other means has been promoted nationally.
The Group conducted Wi-Fi spot works for about 20,000
stations during fiscal 2011.
The KYOWA EXEO Group thus endeavors to contribute
to creating an easy-to-link comfortable society by installing
the necessary infrastructure facilities to cope with the boost
in traffic volume.
Changes in and projections for the number of smartphone subscribers
(Unit: 10,000 contracts)
Number of smartphone subscriptions
Number of feature phone subscriptions
Technical Term
Ratio of smartphone subscriptions to total (Unit: %)
Projections
14,000
100
12,000
80
10,000
8,000
60
6,000
40
4,000
20
2,000
0 2009/3
2010/3
2011/3
2012/3
2013/3
2014/3
2015/3
2016/3
2017/3
0
(Source: MM Research Institute, Ltd.)
23
*Platinum band
Radio wave frequency
band of 700–900 MHz.
This band has features
suitable for mobile
phones such as huge
transmittable data
volume, a wide coverage
area and the capability
to bypass obstacles.
Cultivating
Technological
Capabilities,
Seeking Affluence,
and
Contributing to
Society
Improving the telecommunications environment with LTE
works so that smartphones can be comfortably used
Overview of mobile work
Mobile phone base
station
Negotiations for
installing stations,
design, construction,
maintenance, etc.:
Features
“Long-Term Evolution (LTE)” refers to the next-generation high-speed mobile
communications technology called 3.9th generation. It features high speed, high
capacity and low delay. The communication speed is said to be 5–10 times faster
than conventional services and will soon be almost equivalent to optical fiber lines.
LTE-related processes have increased rapidly for the mobile works undertaken by
the Group. Compared with the installation of new base stations, which prevailed
conventionally, the ratio of joint installation of LTE functions beside existing stations
has increased. In other words, the work refers to processes such as the extension of
facilities to wireless base stations that are already running and various performance
tests, which require us to take absolute care of unexpected contingencies such as
service interruption.
Drawing on both the innovative LTE technology and the previous mobile
telecommunications technology, our engineers work day and night by taking
appropriate measures so that every user can comfortably use smartphones.
Base station
LTE services of the respective telecommunications carriers
2010
LTE processes are
prevalent
2011
2012
NTT docomo
In-station facilities of
telecommunications carriers
KDDI
Soft Bank
e Access
Servers, etc.
Putting optical
access networks
in place
VOICE
Optical fiber
Installation of
servers, etc., and
reinforcement of
equipment
Toward realizing a more convenient and
comfortable mobile society
Smartphones are increasingly a part of our everyday lives. Given the rapid proliferation of
different types of mobile telecommunications services, we are engaged in relevant works to
improve the mobile environment for users as early as possible.
At home, in an underground mall, in a subway station and at any and all other places,
our lives will be made increasingly convenient and comfortable in the forthcoming mobile
society. I feel that my job is worthwhile as I am contributing to society by fulfilling that.
If you feel that your life has been improved thanks to mobile terminal services and the
ease of making phone calls, that could be due to improvements from our recent projects.
Natsuki Yamashita,
Facility Construction Section,
Mobile Infrastructure Engineering
Department, NTT DOCOMO
Operations Headquarters
24
Feature 4
Mitsuhisa Iwai,
Unit Leader of Human
Development Unit, Human
Resources Division
Takuya Nakayama,
Central Technology Training Center,
Cable Engineering Department,
NTT Operations Headquarters
Cultivating Employees
That can think onsite
The KYOWA EXEO Group’s core asset is its employees. The Group is actively creating a new corporate
culture of accumulating skills and improving its technological capabilities and organizational strengths
with the aim of being a valuable enterprise for customers and society. The General Manager of the
Human Resources Development Dept., Personnel Division, and the Person Responsible for Education
and Cultivation at the Central Technology Training Center share their views on the Group’s human
resources activity.
Cultivating employees who have composite skills supported
by onsite capabilities
Iwai: I’m in charge of planning and operating employees’
training sessions for the Group overall. So, I’m always
thinking about the ideal employee image desired by the
Company and how we should cultivate people. My present
task is to set up a mechanism to organizationally change
every employee’s ideal self-image from an employee who
does not willingly engage a spirit of risk to an employee with
a mind-set to address challenges. The Human Resources
Development Dept. determines a rough outline for
enhancing an individual’s strengths and requests that the
staff in charge at each business department provide the
content for technical training.
Nakayama: Well, as what each employee needs to learn
technically differs depending on the department, the
decisions on the content and actual materials for the training
are entrusted to the dedicated staff in charge of human
resources development. In my job, a major task is to teach
the fixed standards that are described in the approach
“Make that in this manner.” But this way of teaching is not
at all effective in cultivating employees’ readiness.
Iwai: Of course, manuals are neatly prepared for the
respective methods and procedures. In the field, however,
onsite conditions differ. Therefore, every employee must
25
think about how to address his/her job on the spot using
his/her own onsite capabilities.
Nakayama: Previously, a passive attitude of doing only
what was instructed by a superintendent was enough. From
now, however, such a negative attitude with minimum
voluntary action is inadequate. As today’s employees show
less capability for problem
solving than their
predecessors, we would
like to develop employees
who can think for
themselves and take
voluntary actions on their
own judgment. We have
won four gold medals over
the past four years in the
World Skills Olympics. The
training behind “thinking
power” was vital in
cultivating the participants
for these Olympic
competitions. Although it
is difficult to provide
Scene of training
sufficient training for
Cultivating
Technological
Capabilities,
Seeking Affluence,
and
Contributing to
Society
on-the-spot judgments in actual work situations, we attempt
to provide sufficient time for employees who participate in
the Skills Olympics at their training so that they can be core
personnel in the field.
Iwai: The results at the Skills Olympics are an achievement to
be proud of for the Group employees’ spirit of addressing
challenges. I am confident that we can establish a new
employee image with a spirit to address challenges and shift
our corporate culture to a teamwork focus that will ensure
sustainable corporate growth in the future. With these
thoughts in mind, we at the Group are now addressing
measures to ferment the “Connection Culture”—a culture
intended to promote exchanges of excellent know-how and
human resources beyond the framework of our departments.
Iwai: I personally feel that employees could previously share
time by working with similar workers sent from Group
companies and cooperative companies under the control of
the head of a project. Accordingly, there was a climate for
developing employees (or have employees grow together)
naturally on the spot. However, in recent years, the
construction period has been increasingly shortened and the
scale of work has been reduced. In addition, the need for
enhanced efficiency improvement means that workers have
fewer opportunities to work with the same crew. I think these
trends create poor interpersonal relations within the work
crew. The present business environment no longer allows us
to enjoy an ideal work environment where workers are trained
gradually while learning from those more experienced.
Another serious issue is that we don’t know what other
Features
Creating a culture of cultivating
human resources
departments do, in effect. Given the multi-skill and multi-task
business environment, it is increasingly important for us to
have close collaboration with other departments. If such
traditional human resources development becomes
impossible, we will have to intentionally nurture a corporate
climate of developing human resources as a companywide
mechanism. As part of this approach, we have started a new
type training for mutual understanding of other departments’
technical content, which is called “Collaborative Training.”
Nakayama: You are right. As Mr. Iwai says, the present
situation is that at the end of most efficiency improvement
efforts, we are obliged to give the instruction: “Do everything
according to the baseline instructions and nothing more.” In
other words, we have no room to consider something other
than the pressing issue. I believe that creating a different
mechanism is important to avoid falling into this trap. In this
regard, the concept of the “Connection Culture”, which
President Ishikawa recommended with the phrase “Let’s
learn more about others and other departments,” is
encouraging and significant. I remember that I had no time
to consider other business operations when I joined the
Company because I was so busy mastering my own duties.
I envy today’s newcomers because they have opportunities
to visit and compare different business activities under the
current training system. Furthermore, the exchange of
human resources has been institutionalized horizontally and
vertically without being limiting to the technical aspects,
thanks to vigorous interdepartmental exchanges.
Iwai: Despite the regular trial and error that occurs every
year, let’s work together to create a worthwhile working
environment in which employees can be successfully
developed and work in a climate of cooperation and
coordination.
Nakayama: Let’s work together!
26
CSR Concept
Performing Corporate Social Responsibility (CSR) through Its Primary Businesses
The KYOWA EXEO Group’s basic CSR policy is to materialize its corporate philosophy and perform
its social responsibility through its daily business activities. The Group seriously addresses promoting
corporate governance, compliance and risk management and works to ensure sincere and highly
transparent business operations to contribute to the sustainable growth of society.
Basic CSR Policy
The KYOWA EXEO Group works toward
realizing its corporate philosophy by
contributing to environmental conservation
and to the sustainable growth of society
through its business activities.
CSR Structure of
the KYOWA EXEO Group
Corporate
philosophy
Development
Development
of the KYOWA
of society
EXEO Group
The corporate philosophy of the KYOWA EXEO
Group, which is the basic guideline for our corporate
social responsibility, includes cultivating technological
ENGINEERING
SOLUTIONS
capabilities, seeking affluence and contributing to
society, and we work to make integrity a fundamental
SYSTEM
SOLUTIONS
norm of our management. We recognize that efforts
to achieve the corporate philosophy are indeed efforts
toward CSR, and we are working to promote CSR.
Specifically, we are working toward high-quality
business operations by putting in place internal control
systems based on the promotion of compliance and the
development of risk management in all business fields.
Guidelines for CSR activities
Self-awareness of contribution to society as a company
Promotion of contribution to society and social contribution
activities through business activities
Establishment of a culture of safety and quality
Full information disclosure and communication
Adherence to corporate philosophy and respect for human rights
Environmental protection activities
Creation of workplaces conducive to satisfactory work
Compliance
Corporate governance
Risk management
Business operations with integrity as the norm
CSR Promotion Systems
Rather than having a specific division responsible for CSR
activities, at the KYOWA EXEO Group we recognize that
CSR is something that every member of the staff should
put into practice throughout the business process. In
2009, we reorganized the CSR promotion division that
until then had been tasked with promoting CSR, and
we established the new CSR Activities Division as the
department responsible for disseminating information
about activities. In 2010, we launched the CSR Committee,
chaired by the President, with meetings held whenever
necessary. Moreover, as a lower-level organization of the
CSR Activities Division, a staff member in charge of CSR is
assigned to every department or office and to every Group
company, so that there is a group-wide system of CSR
promotion.
27
CSR Committee
(chaired by the President)
Secretariat
(CSR Activities Division)
Staffers in charge of CSR
(a staff member in charge of CSR is assigned to every
department or office and to every Group company)
Promoting social
contributions through
primary businesses
Community and
social contribution
activities
Environmental
protection
activities
Relationships with All Stakeholders (Classification by ISO26000 standards)
Continuing to be a Company Trusted by All Stakeholders
In addition to striving to ensure ever-greater information disclosure, the KYOWA EXEO Group will engage in proactive communication
with all our stakeholders in order to fulfill our corporate social responsibility. Effective from fiscal 2011, the Group’s relationships with
various stakeholders are classified based on the seven core themes set forth in the ISO26000* standard.
*The ISO26000 standard provides organizations including companies with the best international guidance on socially responsible behavior and possible actions.
We work to ensure two-way
Firm rooting of the safety and communication with our customers
quality culture
through events and seminars.
Exhibitions at events and
forums
Proactive information
disclosure
Return to shareholders
Announcement of business
results
Disclosure of IR information
Explanatory meetings for
analysts
Procurement Advisory
Council
Green Procurement
Consumer
issues
Organizational
consideration
We believe that our
collaborating companies
are indispensable partners.
CSR Concept
We place a high priority
on returns to our
shareholders and
investors, and we work
to ensure continuous,
stable dividends.
Customers
Business
partners
Shareholders
and investors
Fair business
practice
Corporate
philosophy
Participation in
and establishment
of communities
Basic Ethics
Society/
Environment
Social contribution activities
Local community
contribution activities
EXEO's afforestation
In addition to contributing to
society through our business
activities, we carry out
proactive initiatives in a variety
of community contribution
activities.
Labor
practice
Basic Actions Declaration
Group
companies
Environment
Employees
Human rights
Promotion of a work-life balance
Respect for diversity
Fermentation of the Connection Culture
Education and training
Improvement of
operating efficiency
Management support
Raising technological
capabilities
Improvement of the
worksite environment
We aim to maximize the
Group value through
specialization and
comprehensive power.
Based on the belief that
human resources are our
chief asset, we aim for
Group employees and
companies to develop
together.
28
Management Systems
Establishing Various Mechanisms to Promote Globally the
Overall Group
Corporate Governance
Endeavoring to ensure transparent management by establishing sound management systems and
strengthening internal controls
The KYOWA EXEO Group aims to maintain the full trust of
shareholders and all other stakeholders by operating with
integrity and a high standard of transparency. To this end,
we are confident that it is one of the significant management
issues to establish and maintain an organizational structure
and management systems through which corporate
governance can effectively function. Moreover, it is our basic
CSR policy to make ongoing improvements to strengthen
corporate governance mechanisms that are suitably tailored
to the Group’s circumstances, including the assessment of
structures for monitoring management in light of changes in
social conditions, laws and other developments.
Promotion of internal control
The KYOWA EXEO Group works to thoroughly adhere to
compliance, manage various risks and properly and efficiently
execute business operations. At the same time, to ensure
the reliability of financial reporting, the Group has stipulated
the Basic Guideline for Establishing Internal Control Systems
in accordance with the relevant provisions of the Companies
Act and addresses its appropriate and efficient operation.
In August 2011, the Compliance Committee, chaired by
the President, was established to further promote reinforcing
internal control operations.
To view the Basic Guideline for Establishing Internal
Control Systems, visit
http://www.exeo.co.jp/overseas/management/cg.html
KYOWA EXEO’s Corporate Governance System
General meeting of shareholders
Corporate auditors
Board of Corporate Auditors
Directors
Board of Directors
Nomination Committee
Internal Control Committee
Compensation Committee
Independent Auditor
President
Management Council
Committees
CSR Committee
Compliance Committee
Process Management Committee
Internal Audit Division
Operating officers and organizational heads
Business and administrative departments and branches
Group companies
29
Compliance
In the KYOWA EXEO Group, everybody on the management team maintains a high standard of
ethics—integrity—when conducting business. Furthermore, individual directors and employees make
principled actions grounded in compliance to fulfill their social responsibility.
Basic Stance on Compliance
Flow chart of compliance fulfillment
—EXEO Group Basic Actions Declaration—
Individual directors and employees of the Group make
principled actions grounded in compliance, the guiding
force of our business activities, in the practice of our
business activities; engage in socially trusted management;
and perform their social and legal responsibilities.
They promote compliance toward the realization of the
corporate philosophy
of “Contributing
to Society,” in
accordance with the
“EXEO Group Basic
Actions Declaration,”
a code of conduct of
the Group.
Fulfillment of economic
responsibilities
Achievement of
business plans
Day-to-day
operations
Compliance (actions with integrity)
Risk avoidance
Management System
Fulfillment of social
responsibilities
Fulfillment of legal
responsibilities
Matters to be observed in business activities
Matters to be observed regarding society
Relationships with customers
Elimination of accidents; assurance of quality;
technical improvement; confidentiality; transparent
transactions; appropriate inducement
Relationships with securities markets and the mass media
Information disclosure; control of insider information
Relationships with industries
Fair competition; compliance with industryspecific laws and regulations
Relationships with business partners
Impartial transactions; fair transactions; respect of
counterparty’s technologies
Matters to be observed regarding employees
Compliance/Risk Management
Basic Ethics of the KYOWA EXEO Group
Relationships with the public at large
Management with responsibility; resolute attitude
against antisocial forces; protection of the
environment; ensuring the security of society
Matters to be observed internally at the company
Conservation of company assets; observance of
authority; appropriate accounting procedures;
maintenance of discipline
Respect for human rights; ensuring the physical
safety of employees
30
Management Systems
Promotion Systems and Activities
Promoting System
The Company instituted a compliance program in November
2001 and extensively applied the program to Group
companies in March 2003. Consequently, the group-wide
EXEO GROUP Compliance System was established.
To promote compliance, the formulation of the EXEO
Group Compliance Manual and the establishment of a
dedicated promotional department followed. Compliance
training is given to employees of the Group companies on
an ongoing basis.
Compliance training
Establishing the Support Desk regarding compliance
and the Lawyer Hot Line for direct consulting or
communicating with corporate lawyers
Conducting basic training for new employees and brushup training with specific themes to be observed in
business activities
Compliance promotion
and enhancement
month
October was designated as the
annual Compliance Promotion
and Enhancement Month
in 2010. Various campaign
measures such as signage
and meetings encourage indepth understanding of and
raise awareness among
employees.
Persons in Charge of
Promoting Compliance
KYOWA EXEO employees
Whistle-blowing
Inspecting the observance status of compliance plans,
which have been prepared by the respective branches
and Group companies, as well as the relevant laws
and regulations, for evaluation; compliance mind-set of
each employee is checked in terms of his/her level of
understanding
Responsible Compliance
Promoter
Oversight on the spot
and of trading units
Evaluation on
compliance
observance
[Departments and Branches]
Referrals and question
Conducting training for management executives (e.g.,
Chairman, President, General Managers of the Head
Office, Branch Managers, Presidents of the Group
companies) by inviting outside experts as lecturers
Management of
compliance system
establishment conditions
Compliance training
for management
executives
Collaboration
Guidance and control
Lawyer Hot Line
Whistle-blowing
system
Description
Support Desk
at the Legal unit,
General Affairs Division.
Relevant departments for referrals
Measures taken
Group Compliance Officer
(President of KYOWA EXEO)
Group Business Development Division
Initiatives to Promote
KYOWA EXEO CORPORATION:
Group companies
Compliance Officer at each company (President)
Responsible compliance promoter at each company
Employees of each Group company
Risk Management
Establishing the promoting system, the KYOWA EXEO Group actively addresses risk management in all its
business fields.
Basic Stance on Risk Management
31
To realize further business expansion and new growth as
in overall business activities. Meanwhile, it is necessary for
an ICT solution service company, the KYOWA EXEO Group
the Group to minimize the economic loss and/or damage in
strives to appropriately control risk factors by reducing ex-
case of exposure to any risk. The Group’s risk management
posure to risks and adverse effects for risk that might occur
is set up based on such recognition.
Risk Management System
The KYOWA EXEO Group takes appropriate risk control
measures after grasping and analyzing various risks
surrounding the Group management to conduct sound
In accordance with the Risk Management Rules, which
provide for basic guidelines regarding risk management,
the Group classifies various risks as shown below, and
works to streamline and sophisticate management methods
and systems depending on the characteristics of the
respective risks. The Process Management Committee was
established to ensure appropriate risk status monitoring
and take cross-sectional responses, as well as for lateral,
intra-organizational information exchanges concerning risk
management.
Furthermore, the Audit Division formulates an audit
plan every year and conducts audits to check whether
improvement measures or actions have been taken
appropriately from an independent standpoint. The audit
results are reported to the management and to conferences
at which the heads of organizational units attend according
to the plan-do-check-act (PDCA) cycle.
Risk management system
President
Internal audit organization
Audit Division
Risk management organizations
Management Planning Division (for management risk)
Safety and Quality Management Group (for process risk)
General Affairs Division (for disaster risk)
Responsible persons for risk management
Heads of Head Office organization units and Branch Managers
Initiatives to Promote
Business risk
Management risk
Business
environment risk
Risk in the business environment
Management
strategy risk
Risk in decision making for management
strategies or business strategies
Issues shall be solved by establishing a task force and/or holding a business
strategy conference to find the best solutions, according to the instructions of
management.
Risk in daily business operations
General manager of each department or branch manager shall be responsible for
taking measures to reduce the risk concerned.
Disaster risk
Risk of various disasters such as
earthquakes, fires and typhoons
The Disaster Countermeasure Rules shall be stipulated to cope with the risk.
Meanwhile, disaster prevention-related capital investment and disaster exercises
shall be proactively made.
Credit risk
Risk of uncollectible credits with regard
to transactions with new customers and
long-term and large-sum projects
The Credit Control Office was established in January 2006. The office examines
and determines the appropriate scale of trading by customer to prevent trading
problems and minimize risk damage. The office also holds the Extended Order
Study Committee, consisting of the heads of related organization units, which
meets as required.
—Initiatives at the Information Security Committee—
The KYOWA EXEO Group established the Information
Security Committee in June 2004 to handle diverse
requests for security-related requests from customers. The
committee is committed to bolstering protective measures
Timing
Jun.2004
Implemented an information management system
Established the Information Security Committee
Jul.2006
Assigned the Chief Information Security Officer
(CIO) at the Information Security Committee
May2009
Extended the information management system
to the Group companies
Compliance/Risk Management
Promoting Information Security
Management System
Process risk
with regard to information security related accidents and
incidents.
Information Security Committee
Information Security Committee
Major initiatives taken in fiscal 2011 were as follows:
Improved group-wide security
Thoroughly executed employee training toward enhanced awareness of information security
Upgraded antivirus measures
Reinforced e-mail service countermeasures
Committee
chairman
Deputy
committee
chairman
Committee members
(Responsible Information Managers)
Committee
secretariat
Enhanced inspections of private-use personal computers at home
32
While Promoting Resources Recycling and Effective Utilization of Resources,
Developing Environment Preservation Activities Toward the Prevention of
Global Warming and Other Concerns
Environmental Management
The Group works to reduce the environmental impact accompanying business activities,
and every employee acts with “what he/she can and he/she should do” in mind.
Basic Stance on Environment Preservation Activities
Environmental Education
Coexistence with the global environment is a social responsibility
of corporations and is a significant element in creating a
sustainable society.
The KYOWA EXEO Group engages in business activities
as a company that offers customer-satisfying solutions based
on its core IC networking technologies. The Group therefore
pays careful attention to coordination with the environment in its
business activities and endeavors to reduce the environmental
impact that inevitably accompanies such activities. Meanwhile,
every employee of the Group is committed to environment
preservation activities with “what he/she can and he/she should
do” in mind—always taking into account the effects of business
activities on global environment.
Environment preservation activities cannot be achieved without
low-key efforts for the activities and strong consciousness of
every employee regarding the improvement of environmental
issues. Consequently, the Head Office and branches prepare
their respective plans and conduct environmental education
programs so that all the employees can understand the
importance of environmental preservation and voluntarily and
positively participate in such activities in their daily lives. With
this approach, precise knowledge and consciousness of
environmental issues and preservation initiatives have been
steadily disseminated among employees.
The educational training courses in fiscal 2011 were as
follows: In-house environmental auditors’ training for the
purpose of obtaining qualification as in-house auditors; in-house
environmental auditors’ brush-up training for the purpose of
upgrading skills as auditors; environmental operation training for
the purpose of mastering knowledge of promoting environmental
activities; and basic environmental management training mainly
targeting new employees. A total of 578 persons attended the
course lectures.
Social
contribution
Business
IC networking
technologies
Environment
Number of qualified persons as in-house environmental
auditors and participants in various training courses
Environment
preservation
activities
Customer
satisfaction
Fiscal 2009 Fiscal 2010 Fiscal 2011
In-house environmental auditors
915
895
870
Promotion of an Environmental Management System
In promoting the environmental management system (ISO14001),
of which certification has been continuously obtained since
May 2000, the Company works to reduce the environmental
impact on an ongoing basis through companywide environment
preservation activities according to the PDCA cycle. The
Company identifies predictable environmental risks, which are
determined depending on onsite working environments, the
location conditions of the building and other factors, sets up
specific environment-related targets and extensively applies them
to all the departments at the Head Office and branches.
President
MS Operating Committee
Responsible MS manager
Responsible auditing staff
33
Training course name
Target
100
97
Qualification
48 as in-house
auditors
In-house environmental
In-house
auditors’ brush-up
auditors
training
171
304
Enhancing
187 skills of inhouse auditors
Environmental
Regular
operation training employees
306
200
Mastering knowledge
202 of environmental
activities
Regular
employees
60
32
Mastering
4 knowledge of
industrial waste
180
132
Basic knowledge
127 of environmental
MS
817
765
578
Industrial waste
training
Responsible environmental promoter
New
Basic environmental
employees,
management training
etc.
Each department
Each department
Each department
Total
Fiscal 2009 Fiscal 2010 Fiscal 2011 Description
In-house
Prospective
environmental
in-house
auditors’ training auditors
Fiscal 2011 Initiatives Regarding the Prevention of Global Warming
As for the reduction of power consumption, power-saving
measures for equipment are taken including the conversion of
electric appliances to energy-saving type ones and the enhanced
use of inverters for diverse equipment. In addition, companywide
initiatives mainly taken by the responsible person on each floor
Change in power consumption
include setting the energy-saving mode for PCs, removing
unnecessary lighting devices, turning off lights during lunchtime
hours and setting appropriate temperatures for air conditioners.
Moreover, every employee aggressively promotes electricitysaving activity in his/her daily actions.
Change in city gas consumption (at the Head Office building)
Change in gasoline and light oil consumption
Total power
consumption
(thousand kWh)
14,876
14,753
12,460
Total city gas
consumption
(thousand m3)
38.3
35.1
50.0
Total gasoline
and light oil
consumption (kl)
2,325
2,343
1,615
Power consumption
per square meter
(kWh/m2)
10.96
10.69
10.63
City gas consumption
per square meter
(m3/m2)
3.7
3.4
4.8
Gasoline and light oil
consumption per travel
distance (l/thousand km)
104.0
101.0
101.0
Power consumption per square meter (kWh/m2)
16
City gas consumption per square meter (m3/m2)
5
Gasoline and light oil consumption per travel distance (l/thousand km)
120
4
12
80
3
8
2
4
0
40
1
2007
2008
2009
2010
2011
0
2007
2008
2009
2010
2011
0
2007
2008
2009
2010
2011
Promotion of Recycling and Effective Utilization of Resources
The KYOWA EXEO Group proactively addresses abating volumes
and the appropriate treatment of waste, as well as promoting
its reuse as recycled resources in the pursuit of reduced waste
volume and complete recycling. The waste category covered by
this initiative is industrial waste produced from the construction
work of information and communication facilities and general
waste discharged from offices.
Asphalt, concrete debris, electric wire trash, etc., are properly
Change in general waste emissions
Total industrial
waste emissions
(tons)
Industrial waste emissions
per value of finished work
(kg/¥ million)
2,010
601
2,566
273
Change in total recycled volume
1,957
Total general
waste emissions
(tons)
283
1,072
General waste
emissions per person
(kg/person)
33.8
279
36.1
Change in industrial waste emissions
treated via a sorting control for further reuse or recycling.
Moreover, ongoing initiatives include the enhanced use of proper
amounts for work materials, requests for collection of packaging
materials to suppliers and guidance on the necessary steps to
workers for recycling via onsite patrols.
The Company’s recycling rate is maintained as high as 89.3%
due to these initiatives.
232
35.2
Recycled industrial
waste (tons)
28,811
17,961
20,202
Recycled general
waste (tons)
425
359
331
Total recycled
waste (tons)
29,236
18,320
20,533
1,200
40
900
30
600
20
300
10
Industrial waste emissions per value of finished work (kg/¥ million) General waste emissions per person (kg/person) Total recycled waste (tons)
30,000
20,000
10,000
0
2007
2008
2009
2010
2011
0
2007
2008
2009
2010
2011
0
2007
2008
2009
2010
2011
34
Fiscal 2011 Initiatives Regarding the Prevention of Global Warming
Measures taken
Content of
specific initiative
①Reduction
(on the basis of medium- and
long-term planning based on the
revised Energy Conservation Law)
in power
consumption:
Set power
consumption
management
targets
Work to
precisely
grasp monthly
management
of power
consumption
values
Reduction
in CO2
emissions
②Reduction in
gasoline used:
Review
reduction in
the number
of vehicles
owned
Implement
gasoline
card-based
management
measures
③Use of green
energy:
Promote
the use of
solar power
generation
systems, etc.
Fiscal 2011 targets and full-year results of activities
Fiscal 2011 targets
Improvement of 1% or more in
power used against fiscal 2010
1% reduction
Monthly management of total
against the previous fiscal year
power consumption
(target) 10.58 kWh/ m2
Turning off lights during break
time, room temperature
Restriction on peak power used
setting, economy in electricity
[Summer]
[Winter]
Enhanced use of “Cool Biz”
Kansai jurisdiction
Large-lot customers
and “Warm Biz” ambient10%
Against
the
previous
fiscal
year
temperature-compliant wear
15% reduction must be achieved Kyushu jurisdiction
Review of conversion to
5%
energy-saving equipment
Tokyo jurisdiction
Other small-lot customers
and devices at their new
5%
installation or renewal (e.g., air Against the previous fiscal year Other jurisdictions
15%
reduction
targeted
conditioners, PCs, LED lights)
5%
Full-year results of activities
Power used
Fiscal 2010: 10.69 kWh/m2
Fiscal 2011: 9.16 kWh/m
Reduction rate: 16.2%
(Against the target set forth in the Energy Conservation Law; 1%
reduction every year for five years from fiscal 2009; passed)
2
[Summer]
Tokyo
Tohoku Electric Power’s jurisdiction
Large-lot customers: 23%
Small-lot customers: 21%
Tokyo
Other than Tohoku Electric Power’s jurisdiction
Small-lot customers: 16%
[Winter]
Kansai jurisdiction
13%
Kyushu jurisdiction
13%
Tokyo jurisdiction
12%
Other jurisdictions
7%
Purchase and
renewal of
vehicles with good
fuel consumption
Study on partial
introduction of
hybrid/idlingstop/electric
vehicles
within the
premises
35
5% reduction target
Fiscal 2011: 94.9 l/thousand km (expected)
Reduction rate: -3.4%
3.0% reduction
To be implemented at two
operating bases
TEC Building
(February 2011; 50 kW installed)
April 2011: 3 kW installed
(target) 92.0 l/thousand km
Eco-driving
education
Reduction in
the number of
vehicles owned
Review of
implementing
solar power
generation
systems on
company-owned
buildings
Reduction of 1% or more
promoting
greenery of ⑥Promotion
buildings
of greenery
10% reduction target
[winter] against fiscal 2010
(target) 98.0 l/thousand km
3.0% reduction
(total of the above items ①-③)
⑤Promotion
of rooftop
Initiatives of
greening
[summer] against fiscal 2010
Against the previous fiscal
year:
Fiscal 2010: 5,975 t-CO2
Take
paperlessoriented
initiatives to
reduce paper
consumption
volume
Against the previous
fiscal year:
1.0% reduction
(target) 9.07 kWh/ m2
Fiscal 2010: 98.2 l/thousand km
Against the previous fiscal year:
Against the previous fiscal year:
Reduction
in general
waste
Economy in electricity
Gasoline card
control (monthly
management of
amounts used)
CO2 emissions
④Reduction
in paper
consumption:
Fiscal 2012 activity
targets
Actual inventory of
paper materials,
reduction in stored
volume of paper
materials and reduction Against the previous fiscal year:
in the file meter (fm)4% reduction
converted volume
(target) 20,759 fm
Simultaneous
campaign to designate
a day to destroy
documents (once per
month)
Studying targets
regarding
permanently owned
company assets
Studying possible
implementation of
measures at parking
lots on companyowned premises
To be studied at the target facility on
a case-by-case basis
Fiscal 2011: 5,082 t-CO2
End of August 2010: 21,624 fm
End of March 2012: 18,327 fm
①Late June 2011
Planted several kinds of twiners on
the rooftop and at the entrance of the
Kansai Branch Building
②Late June 2011
Planted several kinds of twiners on the
rooftop of the Showa Annex Building
③Mid-June 2011
Planted three kinds of sweet potatoes
on the rooftop of the Kyushu Branch
Building
To be implemented at
one operating base:
An electricity-sales
demonstration system
(100 kW) will be
implemented at the Fuchu
Technology Center.
year:
1% reduction
year:
4% reduction
(target) 17,594 fm
To be studied at the target
facility on a case-by-case
basis
April 2012: Fuchu
Technology Center
Initiatives toward Prevention of Global Warming and Preservation of Biodiversity
EXEO’s forests (Mori), which extending
nationwide, are groomed by employees’ hands
Seizing the opportunity of the 50th anniversary of its foundation, the
Company became strongly conscious of the prevention of global
warming and contributing to local communities. Giving its approval to
the maintenance enhancement campaign of forest resources, which
was then promoted by the Forestry Agency, the Company entered into a
profit-sharing afforestation contract* with the Hokkaido, Tohoku, Kansai,
Kyushu, Chugoku and Kyushu regional forest offices regarding so-called
corporate forests. The Company named the forests “EXEO’s forests” and
continues their maintenance activity, which also serves as an occasion
for social assembly and recreation among employees and their families.
Embracing the opportunity of the Company’s 50th
anniversary of its foundation, forest preservation
activity started and the Company continues to
maintain government-owned forests for up to 60 years.
*Profit-sharing afforestation contract: Agreement on the maintenance activities of
government-owned forests (natural forests), which are premised on there being no logging.
Degree of environmental contribution of EXEO’s forests (Mori)
(According to the Forestry Agency Report (Source: 24-Rin-Koku-Gyo No. 72 issued by the Forestry Agency)
Degree of environmental contribution: One year (effects for the period of
April 2011–March 2012 converted in the respective units shown below)
Area
Absorbed and fixed CO2
(ha) Watershed pondage or water Sediment runoff prevention
quality purification volume volume (in terms of a 10-ton
volume (in terms of CO2
emitted by a person in a year)
(in terms of 2-L PET bottles)
truck loading 5.5 m3)
Term of contract
Region
Location
60 years
(1/2005–3/2065)
Kyushu
Karimawashi-yama government-owned
forest, Uto-shi, Kumamoto Prefecture
5.36
3,715 m3
(1,858,000 bottles)
70 m3 (13 trucks)
15 tons (48 persons)
21 years
(2/2005–3/2026)
Kansai
Kitayama government-owned forest,
Nishinomiya-shi, Hyogo Prefecture
1.14
465 m3
(233,000 bottles)
14 m3 (3 trucks)
3 tons (9 persons)
60 years
(8/2006–3/2066)
Hokkaido
Chitose government-owned forest,
Chitose-shi, Hokkaido Prefecture
3.10
1,181 m3
(591,000 bottles)
40 m3 (7 trucks)
8 tons (26 persons)
22 years
(10/2006–3/2028)
Tohoku
Fubosan government-owned forest,
Shiroishi-shi, Miyagi Prefecture
2.48
656 m3
(328,000 bottles)
20 m3 (4 trucks)
5 tons (16 persons)
20 years
(3/2007–3/2027)
Chugoku
Noroyama government-owned forest,
Kure-shi, Hiroshima Prefecture
3.29
1,664 m3
(832,000 bottles)
40 m3 (7 trucks)
7 tons (20 persons)
15.37
7,681 m3
(3,842,000 bottles)
184 m3 (34 trucks)
38 tons (119 persons)
Total
Content of Activities
Five branches, of which the business area is located near EXEO’s
forests (Mori), regularly conduct forest preservation and cleaning
activities such as maintenance of walking trails, mowing of
bottom weeds, cutting ivy and putting up bird houses.
Forest exploration is also conducted as part of the recreation
activities for employees and their families. Such events are also
used for enlightening activities to explain the importance of
preventing global warming and biodiversity preservation.
Chitose-shi, Hokkaido
Chugoku Branch Office
Kansai Branch Office
Hokkaido Branch Office
Shiroishi-shi, Miyagi
Uto-shi, Kumamoto
Kyushu Branch Office
Kure-shi, Hiroshima
Nishinomiya-shi, Hyogo
Tohoku Branch Office
36
Financial Section
Financial Highlights (Consolidated)
■Orders Received ■Net Sales
■Gross Profit
(¥Millions)
(¥Millions)
360,000
45,000
240,000
30,000
120,000
15,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
0
2008/3
■Operating Income
■Ordinary Income
(¥Millions)
(¥Millions)
24,000
24,000
16,000
16,000
8,000
8,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
0
2008/3
2009/3
2010/3
2011/3
2012/3
2009/3
2010/3
2011/3
2012/3
2010/3
2011/3
2012/3
■Net Income
■Total Assets ■Net Assets
(¥Millions)
(¥Millions)
12,000
240,000
8,000
160,000
4,000
80,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
0
2008/3
2009/3
(¥Millions)
Orders Received
Net Sales
Gross Profit
Operating Income
Ordinary Income
Net Income
Total Assets
Net Assets
37
2008/3
2009/3
2010/3
2011/3
2012/3
297,899
287,744
36,298
16,400
17,203
10,685
176,955
95,573
286,233
288,017
36,960
18,871
19,489
9,388
179,555
101,878
276,289
271,230
31,295
13,867
14,425
8,378
180,128
105,307
273,788
282,264
30,299
12,390
13,246
7,780
196,918
112,232
288,532
273,134
26,806
8,919
9,178
7,856
181,291
113,411
Trends by Segment (Consolidated)
Orders Received by Business Segment (Consolidated)
(¥Millions)
■Telecommunications infrastructure (NTT group engineering)
■Telecommunications infrastructure (Non-NTT telecom engineering)
■Environmental and social infrastructure ■SYSTEM-SOLUTIONS
350,000
280,000
(¥Millions)
210,000
140,000
70,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
2008/3
2009/3
2010/3
2011/3
2012/3
Telecommunications
infrastructure
(NTT group engineering)
188,852
185,484
169,261
164,421
171,061
Telecommunications
infrastructure
(Non-NTT telecom engineering)
59,679
60,153
71,988
72,442
75,811
Environmental and
social infrastructure
33,521
27,752
23,265
24,905
28,991
SYSTEM-SOLUTIONS
15,846
12,842
11,773
12,019
12,669
297,899
286,233
276,289
273,788
288,532
Total
Net Sales by Business Segment (Consolidated)
(¥Millions)
350,000
280,000
(¥Millions)
210,000
140,000
70,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
2008/3
2009/3
2010/3
2011/3
2012/3
Telecommunications
infrastructure
183,600
187,601
169,583
164,562
166,199
Telecommunications
infrastructure
56,355
58,932
60,240
82,447
67,411
Environmental and
32,219
28,429
29,798
23,782
26,399
SYSTEM-SOLUTIONS
15,569
13,054
11,608
11,471
13,123
287,744
288,017
271,230
282,264
273,134
Total
Outstanding Orders by Business Segment (Consolidated)
(¥Millions)
80,000
(¥Millions)
2008/3
60,000
40,000
20,000
2008/3
2009/3
2010/3
2011/3
2012/3
2009/3
2010/3
2011/3
2012/3
Telecommunications
infrastructure
38,725
36,609
36,287
38,992
43,854
Telecommunications
infrastructure
13,992
15,213
26,962
19,215
27,636
Environmental and
30,700
30,023
23,181
25,576
28,168
1,347
1,135
1,301
1,849
1,394
84,766
82,982
87,732
85,634
101,054
SYSTEM-SOLUTIONS
0
Financial Section
100,000
Total
38
Financial Section
Profitability Indices (Consolidated)
■Gross Profit to Net Sales
■Operating Income to Net Sales
(%)
(%)
15.0
9.0
10.0
6.0
5.0
3.0
0.0
2008/3
2009/3
2010/3
2011/3
2012/3
0.0
2008/3
2009/3
■Ordinary Income to Net Sales
■Net Income to Net Sales
(%)
(%)
9.0
4.0
2010/3
2011/3
2012/3
2010/3
2011/3
2012/3
2010/3
2011/3
2012/3
3.0
6.0
2.0
3.0
1.0
0.0
2008/3
2009/3
2010/3
2011/3
2012/3
2008/3
2009/3
■Return on Equity ■Return on Assets
■Total Assets Turnover
(%)
(Times)
16.0
2.0
12.0
1.5
8.0
1.0
4.0
0.5
0.0
2008/3
2009/3
2010/3
2011/3
2012/3
2008/3
Gross Profit to Net Sales (%)
Operating Income to Net Sales (%)
Ordinary Income to Net Sales (%)
Net Income to Net Sales (%)
Return on Equity (%)
Return on Assets (%)
Total Assets Turnover (Times)
39
0.0
12.6
5.7
6.0
3.7
12.3
5.9
1.58
0.0
2009/3
12.8
6.6
6.8
3.3
10.2
5.3
1.62
2008/3
2009/3
2010/3
11.5
5.1
5.3
3.1
8.6
4.7
1.51
2011/3
10.7
4.4
4.7
2.8
7.6
4.1
1.50
2012/3
9.8
3.3
3.4
2.9
7.2
4.2
1.44
Stability Indices (Consolidated)
■Shareholders’ Equity to Total Assets
■Current Ratio
(%)
(%)
80.0
300.0
60.0
200.0
40.0
100.0
20.0
0.0
2008/3
2009/3
2010/3
2011/3
2012/3
0.0
2008/3
2009/3
2010/3
2011/3
2012/3
■Quick Assets to Current Liabilities
■Fixed Assets Ratio ■Fixed Assets to (Shareholders’ Equity + Long-term Liabilities)
(%)
(%)
300.0
90.0
200.0
60.0
100.0
30.0
0.0
2008/3
2009/3
2010/3
2011/3
2012/3
0.0
2008/3
■Interest Coverage Ratio
■Debt Equity Ratio
(Times)
(%)
1,200.0
40.0
2009/3
2010/3
2011/3
2012/3
2009/3
2010/3
2011/3
2012/3
800.0
20.0
400.0
2008/3
2009/3
2010/3
2011/3
2012/3
2008/3
Shareholders’ Equity to Total Assets (%)
Current Ratio (%)
Quick Assets to Current Liabilities (%)
Fixed Assets Ratio (%)
Fixed Assets to (Shareholders’ Equity + Long-term Liabilities) (%)
Interest Coverage Ratio (Times)
Debt Equity Ratio (%)
50.1
215.1
170.4
62.2
48.6
—
18.6
0.0
2009/3
53.3
232.8
181.4
55.6
44.7
949.8
17.0
2008/3
2010/3
55.4
240.9
189.3
61.0
48.6
672.2
17.7
2011/3
53.9
177.9
133.5
59.8
54.8
6.7
19.2
Financial Section
0.0
2012/3
62.4
215.0
164.3
57.7
51.4
289.7
6.7
Note : Interest Coverage Ratio for FY 2008/3 is not stated due to negative operating cash flow.
40
Financial Section
Per Share Data (Consolidated)
■Number of Shares Outstanding at end of period
■Net Income per Share
(Thousand shares)
(¥)
150,000
120.0
100,000
80.0
50,000
40.0
0
2008/3
2009/3
2010/3
2011/3
2012/3
0.0
2008/3
2009/3
2010/3
■Net Assets per Share
■Operating Cash Flow per Share
(¥)
(¥)
1,200.0
200.0
800.0
100.0
400.0
0.0
0.0
2008/3
2009/3
2010/3
2011/3
2012/3
2010/3
2011/3
2012/3
-100.0
2008/3
2009/3
2010/3
2011/3
2012/3
2011/3
2012/3
■Cash Dividends per Share
(¥)
30.0
20.0
10.0
0.0
2008/3
2009/3
Number of Shares Outstanding at end of period (Thousand shares)
Net Income per Share (¥)
Net Assets per Share (¥)
Operating Cash Flow per Share (¥)
Cash Dividends per Share (¥)
41
2008/3
2009/3
2010/3
2011/3
2012/3
106,112
98.42
836.10
(14.60)
20.0
106,060
88.50
903.15
164.34
20.0
102,625
79.75
973.13
104.60
20.0
103,292
75.58
1,027.98
5.97
20.0
104,361
74.96
1,084.44
156.82
20.0
Other Indices (Consolidated)
■Selling, General and Administrative Expenses
■Depreciation Expenses
(¥Millions)
(¥Millions)
24,000
3,600
16,000
2,400
8,000
1,200
0
2008/3
2009/3
2010/3
2011/3
2012/3
0
2008/3
2009/3
■Number of Consolidated Subsidiaries
■Price Earnings Ratio
(Number)
(Times)
60
20.0
2010/3
2011/3
2012/3
2010/3
2011/3
2012/3
45
30
10.0
15
0
2008/3
2009/3
2010/3
2011/3
2012/3
2010/3
2011/3
2012/3
0.0
2008/3
2009/3
■Price Book-value Ratio
(Times)
2.0
1.0
2008/3
2009/3
Selling, General and Administrative Expenses (¥Millions)
Depreciation Expenses (¥Millions)
Number of Consolidated Subsidiaries (Number)
Price Earnings Ratio (Times)
Price Book-value Ratio (Times)
2008/3
2009/3
2010/3
2011/3
2012/3
19,897
2,632
45
7.8
0.9
18,088
2,554
43
9.0
0.9
17,428
2,992
38
9.7
0.8
17,908
3,039
37
11.0
0.8
17,886
2,947
39
9.9
0.7
Financial Section
0.0
42
Financial Section
Consolidated Balance Sheets
(¥Millions)
43
2008/3
2009/3
2010/3
2011/3
2012/3
ASSETS
Current assets
Cash and deposits
Notes receivable, accounts receivable from completed construction contracts
Short-term investment securities
Costs on uncompleted construction contracts and other
Deferred tax assets
Other current assets
Allowance for doubtful accounts
Noncurrent assets
Property, plant and equipment
Buildings and structures
Machinery, vehicles, tools, furniture and fixtures
Land
Other property, plant and equipment
Intangible assets
Goodwill
Other intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other investments and other assets
Total assets
121,733
6,576
80,931
8,902
18,886
4,202
2,502
(268)
55,221
37,309
12,252
1,904
23,117
35
3,510
—
3,510
14,401
7,106
1,854
1,518
5,783
(1,862)
176,955
126,317
6,317
72,127
20,001
21,097
4,227
2,748
(202)
53,238
38,138
12,239
1,472
23,333
1,092
3,244
—
3,244
11,854
5,440
1,266
701
7,115
(2,670)
179,555
119,239
6,136
70,917
16,630
19,404
3,329
3,021
(199)
60,889
45,228
18,166
1,218
25,429
413
2,932
—
2,932
12,729
6,379
—
924
7,444
(2,019)
180,128
133,466
17,185
82,462
499
25,617
3,451
4,372
(122)
63,452
48,447
17,777
1,067
29,179
422
2,435
98
2,337
12,569
7,001
—
495
7,468
(2,396)
196,918
116,010
5,849
76,311
6,515
21,799
2,971
2,632
(68)
65,280
47,736
16,975
887
29,319
553
4,938
3,294
1,644
12,605
6,872
—
617
7,363
(2,248)
181,291
LIABILITIES
Current liabilities
Notes payable, accounts payable for construction contracts
Income taxes payable
Advances received on uncompleted construction contracts
Provision for bonuses
Provision for directors’ bonuses
Provision for warranties for completed construction
Provision for loss on construction contracts
Other current liabilities
Convertible bond-type bonds with subscription rights to shares
Long-term loans payable
Deferred tax liabilities
Provision for retirement benefits
Provision for directors’ retirement benefits
Allowance for investment loss
Negative goodwill
Other noncurrent liabilities
Total liabilities
56,589
33,455
3,015
4,392
489
180
276
107
14,670
24,792
15,000
—
313
5,820
699
349
403
2,205
81,382
54,263
28,729
5,120
5,087
449
193
369
214
14,098
23,413
15,000
—
723
5,515
736
283
204
949
77,677
49,494
28,722
3,738
2,948
424
75
201
257
13,125
25,326
15,000
2,450
852
4,469
410
373
385
1,385
74,821
75,033
35,482
4,419
3,787
435
87
154
350
30,317
9,653
—
2,139
1,411
4,367
423
104
—
1,205
84,686
53,957
31,025
3,809
4,400
562
105
704
246
13,101
13,922
—
6,310
1,042
4,875
410
102
—
1,182
67,879
NET ASSETS
Shareholders’ Equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets
88,427
6,888
5,953
84,023
(8,438)
293
293
77
6,774
95,573
176,955
95,537
6,888
5,959
91,184
(8,494)
250
250
181
5,908
101,878
179,555
99,215
6,888
6,009
97,590
(11,272)
652
652
272
5,167
105,307
180,128
105,543
6,888
6,097
103,315
(10,758)
639
639
361
5,687
112,232
196,918
112,170
6,888
6,230
109,067
(10,016)
1,002
1,002
217
19
113,411
181,291
Consolidated Statements of Income
(¥Millions)
Net sales
Cost of sales
Gross profit
Operating income
Non-operating income
Interest income
Dividends income
Land and house rent received
Commission fee
Reversal of allowance for doubtful accounts
Amortization of negative goodwill
Other
Non-operating expenses
Interest expenses
Provision of allowance for investment loss
Bad debts expenses
Impairment loss
Loss on valuation of investment securities
Loss on retirement of noncurrent assets
Loss on sales of noncurrent assets
Foreign exchange losses
Other
Ordinary income
Extraordinary income
Gain on revision of retirement benefit plan
Gain on negative goodwill
Gain on reversal of subscription rights to shares
Extraordinary loss
Loss on disaster
Income before income taxes and minority interests
Income taxes-current
Income taxes-deferred
Total income taxes
Income before minority interests
Minority interests in income (loss)
Net income
2008/3
2009/3
2010/3
2011/3
2012/3
287,744
251,446
36,298
19,897
16,400
1,526
204
123
—
—
213
367
618
724
19
—
99
—
75
103
—
288
138
17,203
171
—
—
—
—
—
17,374
4,020
2,299
6,319
11,054
369
10,685
288,017
251,056
36,960
18,088
18,871
1,232
266
173
—
—
—
266
525
615
18
—
103
—
—
—
—
262
231
19,489
277
—
—
—
3,006
—
16,759
6,849
1,133
7,983
8,776
(612)
9,388
271,230
239,934
31,295
17,428
13,867
880
118
136
111
93
—
199
221
322
19
85
33
—
—
—
—
—
184
14,425
—
—
—
—
776
—
13,649
4,406
611
5,017
8,631
253
8,378
282,264
251,965
30,299
17,908
12,390
2,218
70
191
126
—
—
—
1,830
1,362
92
—
—
90
—
—
51
—
1,127
13,246
517
517
—
—
315
315
13,449
4,683
633
5,316
8,132
352
7,780
273,134
246,327
26,806
17,886
8,919
1,310
37
284
181
—
—
—
806
1,051
60
—
—
196
—
—
167
—
626
9,178
2,863
—
2,660
203
—
—
12,041
4,199
145
4,344
7,697
(158)
7,856
2010/3
2011/3
2012/3
Financial Section
Consolidated Statements of Comprehensive Income
(¥Millions)
2008/3
Income before minority interests
Other comprehensive income
Total accumulated other comprehensive income
Comprehensive income
Breakdown
Comprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests
2009/3
—
—
—
8,132
7,697
—
—
—
—
—
—
—
—
—
(32)
(32)
8,099
371
371
8,068
—
—
—
—
—
—
7,767
332
8,219
(150)
44
Financial Section
Consolidated Statements of Changes in Net Assets
(¥Millions)
2008/3
Shareholders’ equity
Capital stock
Balance at the beginning of current period
Changes of items during the period
Total changes of items during the period
Balance at the end of current period
Capital surplus
Disposal of treasury stock
Retained earnings
Dividends from surplus
Net income
Change of scope of consolidation
Treasury stock
Purchase of treasury stock
Total shareholders’ equity
Net income
Accumulated other comprehensive income
Net changes of items other than
shareholders’ equity
Total accumulated other comprehensive income
Minority interests
Total net assets
Net income
45
2009/3
2010/3
2011/3
2012/3
6,888
—
—
6,888
6,888
—
—
6,888
6,888
—
—
6,888
6,888
—
—
6,888
6,888
—
—
6,888
5,866
5,953
5,959
6,009
6,097
87
87
5,953
5
5
5,959
50
50
6,009
87
87
6,097
133
133
6,230
75,537
84,023
91,184
97,590
103,315
(2,199)
10,685
—
8,485
84,023
(2,228)
9,388
—
7,160
91,184
(2,127)
8,378
154
6,405
97,590
(2,054)
7,780
—
5,725
103,315
(2,103)
7,856
—
5,752
109,067
(5,354)
(8,438)
(8,494)
(11,272)
(10,758)
(3,290)
206
—
(3,083)
(8,438)
(75)
19
—
(56)
(8,494)
(3,297)
519
—
(2,778)
(11,272)
(1)
546
(30)
514
(10,758)
(2,691)
3,464
(31)
741
(10,016)
82,937
88,427
95,537
99,215
105,543
(2,199)
10,685
(3,290)
293
—
5,489
88,427
(2,228)
9,388
(75)
25
—
7,110
95,537
(2,127)
8,378
(3,297)
569
154
3,677
99,215
(2,054)
7,780
(1)
634
(30)
6,327
105,543
(2,103)
7,856
(2,691)
3,597
(31)
6,627
112,170
1,541
293
250
652
639
(1,248)
(42)
401
(12)
363
(1,248)
293
(42)
250
401
652
(12)
639
363
1,002
1,541
293
250
652
639
(1,248)
(42)
401
(12)
363
(1,248)
293
(42)
250
401
652
(12)
639
363
1,002
—
77
181
272
77
103
90
89
(143)
77
77
103
181
90
272
89
361
(143)
217
6,657
6,774
5,908
5,167
361
5,687
117
(866)
(740)
520
(5,668)
117
6,774
(866)
5,908
(740)
5,167
520
5,687
(5,668)
19
91,136
(2,199)
10,685
(3,290)
293
—
(1,053)
4,436
95,573
95,573
(2,228)
9,388
(75)
25
—
(805)
6,305
101,878
101,878
(2,127)
8,378
(3,297)
569
154
(248)
3,429
105,307
105,307
(2,054)
7,780
(1)
634
(30)
596
6,924
112,232
112,232
(2,103)
7,856
(2,691)
3,597
(31)
(5,448)
1,179
113,411
Consolidated Statements of Cash Flows
(¥Millions)
2008/3
2009/3
2010/3
2011/3
2012/3
Net cash provided by (used in) operating activities
(1,583)
17,434
10,989
614
16,435
Income before income taxes and minority interests
17,374
16,759
13,649
13,449
12,041
2,632
2,554
2,992
3,039
2,947
—
166
—
—
—
(324)
(236)
(192)
—
—
Depreciation and amortization
Impairment loss
Amortization of goodwill
Gain on negative goodwill
—
—
—
(278)
(2,660)
Increase (decrease) in allowance for doubtful accounts
(433)
741
(650)
188
(201)
Increase (decrease) in provision for retirement benefits
(359)
(305)
(1,018)
(854)
93
Interest and dividends income
(327)
(440)
(255)
(262)
(322)
19
18
19
92
60
Interest expenses
Decrease (increase) in notes and accounts receivable-trade
(4,138)
8,803
1,029
(9,263)
6,951
Decrease (increase) in costs on uncompleted construction contracts and other
866
(2,210)
1,751
(2,902)
3,931
Decrease (increase) in other assets
(1,448)
(1,371)
975
(1,409)
836
Increase (decrease) in notes and accounts payable-trade
(1,078)
(4,725)
59
5,269
(4,579)
Increase (decrease) in advances received on uncompleted construction contracts
(1,065)
695
(2,076)
(156)
612
Increase (decrease) in other liabilities
(5,669)
(1,038)
37
(2,766)
532
539
2,107
308
402
630
6,587
21,518
16,630
4,548
20,875
340
439
257
262
321
(20)
(18)
(16)
(91)
(56)
(8,491)
(4,505)
(5,881)
(4,104)
(4,704)
Net cash provided by (used in) investing activities
(5,690)
(4,057)
(10,600)
(1,535)
(4,523)
Purchase of property, plant and equipment
(2,713)
(3,022)
(8,963)
(3,449)
(1,545)
Proceeds from sales of property, plant and equipment
18
282
168
746
496
(2,036)
(1,018)
(714)
(387)
(590)
Purchase of investment securities
(701)
(683)
(611)
(675)
(36)
Proceeds from sales of investment securities
298
550
251
—
—
Purchase of investments in subsidiaries
resulting in change in scope of consolidation
—
—
—
—
(3,752)
Payments of loans receivable
(1,496)
(429)
—
—
—
Collection of loans receivable
1,186
337
324
315
236
Other, net
Sub-total
Interest and dividends income received
Interest expenses paid
Income taxes paid
Purchase of intangible assets
Other, net
Net cash provided by (used in) financing activities
(246)
(72)
(1,055)
1,915
667
(5,051)
(2,531)
(4,095)
(3,650)
(17,533)
242
(170)
(992)
(892)
(2,015)
(8)
(30)
—
(1,041)
(1,114)
Proceeds from long-term loans payable
—
55
2,450
50
5,000
Redemption of bonds
—
—
—
(180)
(15,180)
(3,290)
—
(3,297)
(3)
(2,691)
293
—
—
677
829
(2,197)
(2,228)
(2,127)
(2,054)
(2,104)
Proceeds from sales of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
Other, net
(91)
(95)
(82)
(68)
(72)
—
(63)
(45)
(138)
(185)
Effect of exchange rate change on cash and cash equivalents
(19)
(15)
(1)
(22)
(10)
Net increase (decrease) in cash and cash equivalents
(12,345)
10,829
(3,706)
(4,594)
(5,631)
Cash and cash equivalents at beginning of period
27,776
15,431
26,261
22,229
17,634
Increase (decrease) in cash and cash equivalents resulting
from change of scope of consolidation
—
—
(325)
—
301
Cash and cash equivalents at end of period
15,431
26,261
22,229
17,634
12,304
Financial Section
Net increase (decrease) in short-term loans payable
Repayment of long-term loans payable
46
Financial Section
Financial Highlights (Non-consolidated)
■Orders Received ■Net Sales
■Gross Profit
(¥Millions)
(¥Millions)
240,000
30,000
160,000
20,000
80,000
10,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
0
2008/3
■Operating Income
■Ordinary Income
(¥Millions)
(¥Millions)
15,000
15,000
10,000
10,000
5,000
5,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
0
2008/3
2009/3
2010/3
2011/3
2012/3
2009/3
2010/3
2011/3
2012/3
2010/3
2011/3
2012/3
■Net Income
■Total Assets ■Net Assets
(¥Millions)
(¥Millions)
9,000
180,000
6,000
120,000
3,000
60,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
0
2008/3
2009/3
(¥Millions)
Orders Received
Net Sales
Gross Profit
Operating Income
Ordinary Income
Net Income
Total Assets
Net Assets
47
2008/3
2009/3
2010/3
2011/3
2012/3
234,965
223,932
25,637
11,319
11,597
7,085
143,973
69,508
230,410
231,671
27,487
14,493
14,632
7,109
149,393
74,327
222,980
216,315
22,783
10,019
10,582
6,494
152,090
76,294
204,678
213,973
21,495
9,201
9,753
5,624
159,787
80,599
218,527
200,061
18,320
6,651
7,259
4,466
153,493
84,533
Trends by Segment (Non-consolidated)
Orders Received by Business Segment (Non-consolidated)
(¥Millions)
250,000
200,000
(¥Millions)
150,000
100,000
50,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
2008/3
2009/3
2010/3
2011/3
2012/3
Telecommunications
infrastructure
149,736
150,515
134,288
122,680
124,821
Telecommunications
infrastructure
48,317
49,844
63,502
54,580
62,450
Environmental and
23,212
19,043
15,475
17,332
21,863
SYSTEM-SOLUTIONS
13,700
11,007
9,713
10,084
9,392
234,965
230,410
222,980
204,678
218,527
Total
Net Sales by Business Segment (Non-consolidated)
(¥Millions)
250,000
200,000
(¥Millions)
150,000
100,000
50,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
2008/3
2009/3
2010/3
2011/3
2012/3
Telecommunications
infrastructure
143,939
153,004
134,267
123,041
119,991
Telecommunications
infrastructure
44,353
48,674
50,816
64,745
52,946
Environmental and
22,181
18,961
21,547
16,662
17,180
SYSTEM-SOLUTIONS
13,458
11,030
9,685
9,523
9,943
223,932
231,671
216,315
213,973
200,061
Total
Financial Section
48
Financial Section
Other Indices (Non-consolidated)
■Capital Expenditures
■Depreciation Expenses
(¥Millions)
(¥Millions)
12,000
3,000
8,000
2,000
4,000
1,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
0
2008/3
2009/3
■Selling, General and Administrative Expenses
■Dividend Payout Ratio
(¥Millions)
(%)
18,000
100.0
2010/3
2011/3
2012/3
2010/3
2011/3
2012/3
12,000
50.0
6,000
0
2008/3
2009/3
2010/3
2011/3
2012/3
2011/3
2012/3
0.0
2008/3
2009/3
■Percentage of Stock Held by Foreigners
(%)
24.0
16.0
8.0
0.0
2008/3
2009/3
2010/3
Capital Expenditures (¥Millions)
Depreciation Expenses (¥Millions)
Selling, General and Administrative Expenses (¥Millions)
Dividend Payout Ratio (%)
Percentage of Stock Held by Foreigners (%)
49
2008/3
2009/3
2010/3
2011/3
2012/3
2,768
1,916
14,317
30.6
19.9
3,194
1,953
12,993
29.8
14.6
9,011
2,459
12,763
32.4
17.3
3,272
2,457
12,294
36.6
16.6
1,553
2,362
11,669
47.1
17.4
Non-consolidated Balance Sheets
(¥Millions)
2008/3
2009/3
2010/3
2011/3
2012/3
98,191
5,224
514
63,824
8,902
12,916
19
2,726
243
3,142
903
(226)
45,781
25,288
8,409
495
189
11
1,057
15,089
—
35
3,138
2,873
264
17,355
4,538
6,872
2,585
489
238
2,009
789
2,005
—
(2,174)
143,973
105,102
4,856
285
58,585
20,001
14,394
141
2,786
265
3,109
850
(173)
44,290
26,486
8,650
477
131
15
844
15,314
61
991
2,871
2,661
210
14,932
3,360
6,771
2,180
484
212
2,526
365
1,999
(720)
(2,247)
149,393
100,115
5,061
173
56,592
16,630
13,433
340
4,666
226
2,322
842
(172)
51,974
33,604
14,302
551
121
14
726
17,525
342
20
2,582
2,379
203
15,787
4,096
7,001
1,698
73
183
2,637
—
2,183
(288)
(1,798)
152,090
105,593
15,720
201
61,896
499
15,148
43
7,649
202
2,210
2,115
(94)
54,193
34,877
13,446
470
85
2
642
19,952
270
7
1,981
1,764
216
17,334
3,951
9,118
1,630
134
157
2,769
—
1,811
(237)
(2,002)
159,787
91,375
4,259
154
56,749
6,506
14,072
113
6,850
214
1,817
690
(54)
62,118
34,809
12,855
408
101
1
536
20,547
352
6
1,370
1,201
169
25,937
4,326
17,263
1,634
229
133
3,362
—
1,116
(162)
(1,966)
153,493
LIABILITIES
Current liabilities
Notes payable
Accounts payable for construction contracts
Short-term loans payable
Lease obligations
Accounts payable-other
Accrued expenses
Income taxes payable
Advances received on uncompleted construction contracts
Deposits received
Provision for directors’ bonuses
Provision for warranties for completed construction
Provision for loss on disaster
Provision for loss on construction contracts
Other current liabilities
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for directors’ retirement benefits
Other noncurrent liabilities
Total liabilities
57,587
322
32,781
—
—
—
2,796
5,983
2,117
3,122
9,746
101
267
—
89
259
16,877
15,000
—
—
—
321
349
1,205
74,464
59,388
108
28,909
—
15
—
1,728
6,322
3,836
4,114
13,140
118
354
—
151
589
15,677
15,000
—
49
—
343
283
0
75,066
57,277
484
29,058
—
86
—
1,590
5,586
3,185
2,479
13,960
—
181
—
223
440
18,518
15,000
2,450
280
117
—
369
301
75,796
76,201
485
32,615
500
91
15,000
720
5,303
3,565
2,127
14,653
—
118
145
207
666
2,986
—
1,904
202
499
—
104
275
79,187
61,690
—
29,027
1,000
130
—
749
4,982
2,778
3,707
18,209
—
372
—
181
551
7,269
—
6,296
249
381
—
102
239
68,960
NET ASSETS
Shareholders’ equity
Capital stock
Capital surplus
Legal retained earnings
Reserve for reduction entry of noncurrent assets
General reserve
Retained earnings brought forward
Treasury stock
Valuation and translation adjustments
Total net assets
Total liabilities and net assets
68,888
6,888
5,953
1,547
134
54,630
8,173
(8,438)
541
541
77
69,508
143,973
73,719
6,888
5,959
1,547
173
59,500
8,145
(8,494)
425
425
181
74,327
149,393
75,358
6,888
6,009
1,547
171
64,200
7,813
(11,272)
663
663
272
76,294
152,090
79,498
6,888
6,035
1,547
313
68,900
6,541
(10,727)
739
739
361
80,599
159,787
83,273
6,888
6,738
1,547
325
72,300
5,483
(10,010)
1,042
1,042
217
84,533
153,493
Financial Section
ASSETS
Current assets
Cash and deposits
Notes receivable-trade
Accounts receivable from completed construction contracts
Short-term investment securities
Costs on uncompleted construction contracts
Raw materials and supplies
Short-term loans receivable
Prepaid expenses
Deferred tax assets
Other current assets
Noncurrent assets
Property, plant and equipment
Buildings
Structures
Machinery and equipment
Vehicles
Tools, furniture and fixtures
Land
Lease assets
Construction in progress
Intangible assets
Software
Other intangible assets
Investments and other assets
Investment securities
Stocks of subsidiaries and affiliates
Long-term loans receivable
Claims provable in bankruptcy, claims provable in rehabilitation and other
Long-term prepaid expenses
Prepaid pension cost
Deferred tax assets
Other investments and other assets
Total assets
50
Financial Section
Non-consolidated Statements of Income
(¥Millions)
2008/3
2009/3
2010/3
2011/3
2012/3
Net sales
223,932
231,671
216,315
213,973
200,061
Cost of sales
198,295
204,183
193,531
192,477
181,740
Gross profit
25,637
27,487
22,783
21,495
18,320
14,317
12,993
12,763
12,294
11,669
Operating income
11,319
14,493
10,019
9,201
6,651
884
833
901
1,565
1,198
39
39
36
38
37
Interest on securities
125
233
94
43
14
Dividends income
227
261
235
256
241
Land and house rent received
111
127
251
408
478
95
—
—
—
—
Reversal of allowance for doubtful accounts
101
—
98
—
—
Other
183
170
185
817
426
606
695
338
1,012
590
Interest expenses
62
49
24
51
49
Provision of allowance for doubtful accounts
—
73
—
—
—
Bad debts expenses
99
72
33
102
28
Provision of allowance for investment loss
—
—
85
—
—
Loss on debt waiver of subsidiaries and affiliates
—
70
58
—
—
288
262
—
—
—
Loss on valuation of investment securities
65
—
—
—
—
Rent expenses
—
—
—
141
126
Other
92
167
137
716
385
11,597
14,632
10,582
9,753
7,259
171
219
432
—
203
—
2,362
234
196
—
11,768
12,489
10,781
9,557
7,462
Income taxes-current
2,040
4,843
3,180
3,491
2,790
Income taxes-deferred
2,643
537
1,106
440
206
Net income
7,085
7,109
6,494
5,624
4,466
Non-operating income
Interest income
Gain on sales of investment securities
Non-operating expenses
Foreign exchange losses
Ordinary income
Extraordinary income
Extraordinary loss
Income before income taxes
51
Board of Directors
(as of June 22, 2012)
With stakeholders
Director and Executive
Operating Officer
President
Vice President
Kunio Ishikawa
Fuminori Kozono
Director and Managing
Operating Officer
Operating Officer
Operating Officer
Terutaka Sakai Takayuki Watanabe Akira Yabiki
Toshio Tsuda
Takashi Sakai
Yoshiharu Yamazaki
Director
Standing Statutory
Auditor
Standing Statutory
Auditor
Statutory Auditor
Yuji Sugita
Hideo Oshima
Operating Officer
Director
Operating Officer
Director
Kazufumi Watanabe Hisashi Yazawa Yoshiaki Matsuzaka
Akira Yamada
Operating Officers
Yukio Sano
Tsutomu Ota
Takashi Shikano
Yoshimichi Takayabu
Akira Gohara
Shigeru Tanaka
Tsuneto Hinohara
Naoe Takeda
Makoto Nakagawa
Kenjiro Tsunoda
Haruhiko Watanabe
Yoshiharu Takizawa
Seiji Fujikake
Teru Suzuki
Toshimitsu Kiribayashi
Financial Section/Board of Directors
Statutory Auditor
Managing Operating Officers
Kazuteru Kanazawa
Hiroshi Sato
Hisamitsu Hoshi
Kazuyuki Kaihatsu
Atsuo Yuhara
Genzaburo Oe
52
Stock Information
(as of March 31, 2012)
Major Shareholders
Fiscal Year-End
March 31
Annual Shareholders’
Meeting
June 22, 2012
Stock Listing
Tokyo Stock Exchange (First Section)
Ticker Code
1951
Common Stock
Authorized: 300,000,000
shares
Issued: 117,812,419 shares
Number of shares Percentage of total
held (thousand) shares issued (%)
Total Number of 11,100
Shareholders
Transfer Agent
and Registrar
Sumitomo Mitsui Trust Bank,
Limited1-4-1, Marunouchi,
Chiyoda-ku, Tokyo, Japan
Japan Trustee Services Bank, Ltd.
(Trust Account)
8,597
7.30
Japan Trustee Services Bank, Ltd.
(Trust Account 9)
8,135
6.91
Japan Trustee Services Bank, Ltd. (Sumitomo Electric
Industries, Ltd., Retirement Benefit Trust Account reentrusted by The Sumitomo Trust & Banking Co., Ltd.)
5,766
4.89
The Master Trust Bank of Japan, Ltd.
(Trust Account)
5,747
4.88
ESOP Association of KYOWA EXEO CORPORATION
3,651
3.10
Trust & Custody Services Bank, Ltd., as trustee for Fujikura Ltd. Retirement
Benefit Trust Account re-entrusted by Mizuho Trust & Banking Co., Ltd.
2,930
2.49
Mizuho Bank, Ltd.
2,748
2.33
JUNIPER
2,342
1.99
GOLDMAN, SACHS & CO. REG
2,149
1.82
SUMITOMO LIFE INSURANCE COMPANY
2,000
1.70
Note: Effective April 1, 2012, The Sumitomo Trust & Banking Co., Ltd., merged with The
Chuo Mitsui Trust and Banking Co., Ltd., and Chuo Mitsui Asset Trust and Banking
Company, Limited, and its name has changed to Sumitomo Mitsui Trust Bank, Limited.
Composition of Shareholders
Treasury stock
9.99%
Financial
institutions
44.67%
Individuals
and others
17.47%
Securities
companies
0.90%
Foreign
companies
17.38%
Other
corporations
9.59%
Stock Price Range and Trading Volume on the Tokyo Stock Exchange
Stock Price
(¥)
1,500
1,000
500
Trading Volume
(Million Shares)
0
50
40
30
20
10
4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3
2007
53
2008
2009
2010
2011
2012
0
Editorial Policy
Period Covered by the Report:
From April 1, 2011, to March 31, 2012
(However, in some cases, activities before and after the
coverage period are also included in this report.)
Organizations Covered by the Report:Companies subject to consolidation of the KYOWA EXEO Group
(However, in some cases, KYOWA EXEO CORPORATION’s
non-consolidated data are used instead of consolidated data.)
Reference Guidelines:
GRI “Sustainability Reporting Guideline 3rd Version 2006”
Ministry of Environment “Environmental Reporting Guidelines
(Fiscal 2007 Version)”
ISO26000 “Guidance on social responsibility”
Issuance: August 2012
Next Issuance Scheduled: August 2013
http://www.exeo.co.jp/overseas/index.html
29-20, Shibuya 3-chome, Shibuya-ku, Tokyo 150-0002, Japan
Notice on forward-looking statements:
This Corporate Report 2012 contains forward-looking statements such as the future business
Stock Information/Editorial Policy
performance of KYOWA EXEO. As these statements are based on the currently available information at
the time of the creation of the report, the actual results may differ materially from the content described
or suggested therein due to various factors. As this corporate report is not intended for the purpose of
soliciting investment, all users of this report are advised to undertake decisions concerning investment at
their own discretion.
The figures stated in units of ¥100 million and ¥1 million are rounded down.
54
29-20, Shibuya 3-chome, Shibuya-ku, Tokyo 150-0002, Japan
URL: http://www.exeo.co.jp/overseas/index.html

Corporate Report

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