Construction in Japan - Key Trends and Opportunities to 2018

Published: Apr, 2014 | Pages: 82 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)


Synopsis
This report provides detailed market analysis, information and insights into the Japanese construction industry including:
The Japanese construction industry's growth prospects by market, project type and type of construction activity
Analysis of equipment, material and service costs across each project type within Japan
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Japanese construction industry
Analyzing the profiles of the leading operators in the Japanese construction industry
Data highlights of the largest construction projects in Japan  

Summary
The Japanese construction industry recorded a compound annual growth rate (CAGR) of 0.14% during the review period (2009-2013). The country's economy contracted following an earthquake, subsequent tsunami and nuclear disaster in 2011. In a bid to reconstruct and revitalize the economy during the review period, the government introduced economic reforms, such as an increase in subsidies and tax breaks for companies that invest in factories. The construction industry outlook is favorable, as a result of the government's focus on reconstruction activities. According to the Ministry of Economy, Trade and Industry (MEIT), indices of construction activity increased from 87.5 in the fourth quarter of 2012 to 99.4 in the fourth quarter of 2013, registering growth of 13.6%. The construction industry's output is expected to increase at a CAGR of 3.19% over the forecast period (2013-2018). 
Scope
This report provides a comprehensive analysis of the construction industry in Japan. It provides:
Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Japan using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in Japan 
Reason To Buy
 Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
Assess market growth potential at a micro-level with over 600 time-series data forecasts
Understand the latest industry and market trends
Formulate and validate business strategies using Timetric's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors  
Key Highlights
 Construction activity in Japan has increased since 2012, according to data on the value of contracts by orders with civil engineering works, showing a slightly faster rate of expansion than buildings. The number of housing starts has also risen since early 2010. While the rise in activity indicates improvements in the industry, there are concerns over the impact this will have on material and labor prices.
The country's Fourth Science and Technology Basic Plan, introduced in 2011, aims to spend JPY25 trillion (US$313.3 billion) over 2011-2015. The plan addresses societal challenges and sets out priorities, such as reconstruction and revival following the 2011 natural disaster. In 2013, total science and technology expenditure, including planned spending and a stimulus package, reached JPY4.6 trillion (US$57 billion). The JPY76.7 billion (US$958 million) stimulus package was allocated to the upgrade of research facilities. Increased government spending is expected to enhance the research facilities category, which will, in turn, support the institutional construction market over the forecast period.
The introduction of new economic reforms has improved business confidence in the country. In order to pump the money into the financial system, the Bank of Japan (BOJ) purchased government bonds and other securities. According to the BOJ, since April 2013, JPY4.4 trillion (US$546.3 billion) has been supplied into the country's economic system, boosting business sentiments to a peak since 2007. In 2013, direct commercial transactions reached JPY3.3 trillion (US$41.7 billion), a 67% increase over 2012. This renewed business confidence and financial stimulus will support the growth of the commercial market over the forecast period.
After coming to power in 2012, the government announced an emergency stimulus package of JPY10 trillion (US$110 billion) in January 2013, with a primary focus on public work infrastructure. Public work subsidies increased to JPY5.3 trillion (US$0.1 trillion) in 2013. The package focuses on reconstruction projects including repairs and the construction of earthquake-resistant roads, bridges and tunnels.
According to the Japanese government, the elderly population, defined as those aged 65 and above, reached 31.9 million in 2013, an increase of 1.1 million over 2012. According to a 2012 government report, people aged 65 and above are expected to account for 40% of the country's total population by 2060. According to the Japanese Cabinet Office, the number of elderly people using healthcare facilities will increase from 920,000 in 2011 to 1.2 million in 2015, indicating an increase in demand. A brokerage unit, Daiwa Real Estate Asset Management, plans to establish a healthcare real estate investment trust (REIT). The company will own healthcare facilities such as hospitals and nursing homes, and plans to operate the trust from March 2014 with a fund of JPY10 billion (US$96 million).

 1 Executive Summary
2 Market Overview
2.1 Key Trends and Issues
2.2 Benchmarking by Market Size and Growth
3 Commercial Construction
3.1 Performance Outlook
3.2 Key Trends and Issues
3.3 Data and Project Highlights
4 Industrial Construction
4.1 Performance Outlook
4.2 Key Trends and Issues
4.3 Data and Project Highlights
5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Trends and Issues
5.3 Data and Project Highlights
6 Institutiol Construction
6.1 Performance Outlook
6.2 Key Trends and Issues
6.3 Data and Project Highlights
7 Residential Construction
7.1 Performance Outlook
7.2 Key Trends and Issues
7.3 Data and Project Highlights
8 Company Profile: Daiwa House Industry Co., Ltd
8.1 Daiwa House Industry Co., Ltd - Company Overview
8.2 Daiwa House Industry Co., Ltd - Business Description
8.3 Daiwa House Industry Co., Ltd - Main Services
8.4 Daiwa House Industry Co., Ltd - History
8.5 Daiwa House Industry Co., Ltd - Company Information
8.5.1 Daiwa House Industry Co., Ltd - key competitors
8.5.2 Daiwa House Industry Co., Ltd - key employees
9 Company Profile: Sekisui House, Ltd
9.1 Sekisui House, Ltd - Company Overview
9.2 Sekisui House, Ltd - Business Description
9.3 Sekisui House, Ltd - Main Services
9.4 Sekisui House, Ltd - History
9.5 Sekisui House, Ltd - Company Information
9.5.1 Sekisui House, Ltd - key competitors
9.5.2 Sekisui House, Ltd - key employees
10 Company Profile: Kajima Corporation
10.1 Kajima Corporation - Company Overview
10.2 Kajima Corporation - Business Description
10.3 Kajima Corporation - Main Services
10.4 Kajima Corporation - History
10.5 Kajima Corporation - Company Information
10.5.1 Kajima Corporation - key competitors
10.5.2 Kajima Corporation - key employees
11 Company Profile: Mitsui Fudosan Co., Ltd
11.1 Mitsui Fudosan Co., Ltd - Company Overview
11.2 Mitsui Fudosan Co., Ltd - Business Description
11.3 Mitsui Fudosan Co., Ltd - Main Services
11.4 Mitsui Fudosan Co., Ltd - History
11.5 Mitsui Fudosan Co., Ltd - Company Information
11.5.1 Mitsui Fudosan Co., Ltd - key competitors
11.5.2 Mitsui Fudosan Co., Ltd - key employees
12 Company Profile: Obayashi Corporation
12.1 Obayashi Corporation - Company Overview
12.2 Obayashi Corporation - Business Description
12.3 Obayashi Corporation - Main Products and Services
12.4 Obayashi Corporation - History
12.5 Obayashi Corporation - Company Information
12.5.1 Obayashi Corporation - key competitors
12.5.2 Obayashi Corporation - key employees
13 Market Data Alysis
13.1 Construction Output and Value Add
13.1.1 Construction output by project type
13.1.2 Construction output by cost type
13.1.3 Construction output by activity type
13.1.4 Construction value add by project type
13.2 Commercial Construction
13.2.1 Commercial construction output by project type
13.2.2 Commercial construction output by cost type
13.2.3 Commercial construction output by activity type
13.2.4 Commercial construction value add by project type
13.3 Industrial Construction
13.3.1 Industrial construction output by project type
13.3.2 Industrial construction output by cost type
13.3.3 Industrial construction output by activity type
13.3.4 Industrial construction value add by project type
13.4 Infrastructure Construction
13.4.1 Infrastructure construction output by project type
13.4.2 Infrastructure construction output by cost type
13.4.3 Infrastructure construction output by activity type
13.4.4 Infrastructure construction value add by project type
13.5 Institutiol Construction
13.5.1 Institutiol construction output by project type
13.5.2 Institutiol construction output by cost type
13.5.3 Institutiol construction output by activity type
13.5.4 Institutiol construction value add by project type
13.6 Residential Construction
13.6.1 Residential construction output by project type
13.6.2 Residential construction output by cost type
13.6.3 Residential construction output by activity type
13.6.4 Residential construction value add by project type
14 Appendix
14.1 What is this Report About?
14.2 Definitions
14.3 Summary Methodology
14.4 Methodology
14.5 Contact Timetric
14.6 About Timetric
14.7 Timetric's Services
14.8 Disclaimer


List of Tables
Table 1: Benchmarking with Other Major Construction Industries
Table 2: Commercial Construction Project 1 - TMG - Koto Aquatic Centre - Tokyo
Table 3: Commercial Construction Project 2 - JSC - Kasumigaoka tiol Stadium Redevelopment - Japan
Table 4: Commercial Construction Project 3 - Bland - Kyoto Four Seasons Hotel - Honshu
Table 5: Industrial Construction Project 1 - MHI - goya Jet Assemble Plant - Aichi Prefecture
Table 6: Industrial Construction Project 2 - KHI - Yatomi Factory Development - Aichi Prefecture
Table 7: Industrial Construction Project 3 - HCME - Mining Excavator Factory - Ibaraki Prefecture
Table 8: Infrastructure Construction Project 1 - JR Central - Tokyo-goya Maglev Line - Japan
Table 9: Infrastructure Construction Project 2 - JR Central - goya-Osaka Maglev Line - Japan
Table 10: Infrastructure Construction Project 3 - MoLITT - Waterfront Metro Line - Tokyo
Table 11: Institutiol Construction Project 1 - IC - New Ishinomaki City Hospital - Miyagi
Table 12: Institutiol Construction Project 2 - JR West - Kyoto Railway Museum - Honshu
Table 13: Institutiol Construction Project 3 - USACE - Bob Hope and Amelia Earhart Elementary School Replacement - Japan
Table 14: Residential Construction Project 1 - MFCL/SHC/KSH - Kachidoki East District Development - Tokyo
Table 15: Residential Construction Project 2 - TMG - Olympic Village Complex - Tokyo
Table 16: Residential Construction Project 3 - KCC/MF/ME/NREH - Kachidoki The Tower - Tokyo
Table 17: Daiwa House Industry Co., Ltd, Key Facts
Table 18: Daiwa House Industry Co., Ltd, Main Services
Table 19: Daiwa House Industry Co., Ltd, History
Table 20: Daiwa House Industry Co., Ltd, Key Employees
Table 21: Sekisui House, Ltd, Key Facts
Table 22: Sekisui House, Ltd, Main Services
Table 23: Sekisui House, Ltd, History
Table 24: Sekisui House, Ltd, Key Employees
Table 25: Kajima Corporation, Key Facts
Table 26: Kajima Corporation, Main Services
Table 27: Kajima Corporation, History
Table 28: Kajima Corporation, Key Employees
Table 29: Mitsui Fudosan Co., Ltd, Key Facts
Table 30: Mitsui Fudosan Co., Ltd, Main Services
Table 31: Mitsui Fudosan Co., Ltd - History
Table 32: Mitsui Fudosan Co., Ltd, Key Employees
Table 33: Obayashi Corporation, Key Facts
Table 34: Obayashi Corporation, Main Products and Services
Table 35: Obayashi Corporation - History
Table 36: Obayashi Corporation, Key Employees
Table 37: Japanese Construction Output by Project Type (JPY Million), 2009-2013
Table 38: Japanese Construction Output by Project Type (JPY Million), 2013-2018
Table 39: Japanese Construction Output by Cost Type (JPY Million), 2009-2013
Table 40: Japanese Construction Output by Cost Type (JPY Million), 2013-2018
Table 41: Japanese Construction Output by Activity Type (JPY Million), 2009-2013
Table 42: Japanese Construction Output by Activity Type (JPY Million), 2013-2018
Table 43: Japanese Construction Value Add by Project Type (JPY Million), 2009-2013
Table 44: Japanese Construction Value Add by Project Type (JPY Million), 2013-2018
Table 45: Japanese Commercial Construction Output by Project Type (JPY Million), 2009-2013
Table 46: Japanese Commercial Construction Output by Project Type (JPY Million), 2013-2018
Table 47: Japanese Commercial Construction Output by Cost Type (JPY Million), 2009-2013
Table 48: Japanese Commercial Construction Output by Cost Type (JPY Million), 2013-2018
Table 49: Japanese Commercial Construction Output by Activity Type (JPY Million), 2009-2013
Table 50: Japanese Commercial Construction Output by Activity Type (JPY Million), 2013-2018
Table 51: Japanese Commercial Construction Value Add by Project Type (JPY Million), 2009-2013
Table 52: Japanese Commercial Construction Value Add by Project Type (JPY Million), 2013-2018
Table 53: Japanese Industrial Construction Output by Project Type (JPY Million), 2009-2013
Table 54: Japanese Industrial Construction Output by Project Type (JPY Million), 2013-2018
Table 55: Japanese Industrial Construction Output by Cost Type (JPY Million), 2009-2013
Table 56: Japanese Industrial Construction Output by Cost Type (JPY Million), 2013-2018
Table 57: Japanese Industrial Construction Output by Activity Type (JPY Million), 2009-2013
Table 58: Japanese Industrial Construction Output by Activity Type (JPY Million), 2013-2018
Table 59: Japanese Industrial Construction Value Add by Project Type (JPY Million), 2009-2013
Table 60: Japanese Industrial Construction Value Add by Project Type (JPY Million), 2013-2018
Table 61: Japanese Infrastructure Construction Output by Project Type (JPY Million), 2009-2013
Table 62: Japanese Infrastructure Construction Output by Project Type (JPY Million), 2013-2018
Table 63: Japanese Infrastructure Construction Output by Cost Type (JPY Million), 2009-2013
Table 64: Japanese Infrastructure Construction Output by Cost Type (JPY Million), 2013-2018
Table 65: Japanese Infrastructure Construction Output by Activity Type (JPY Million), 2009-2013
Table 66: Japanese Infrastructure Construction Output by Activity Type (JPY Million), 2013-2018
Table 67: Japanese Infrastructure Construction Value Add by Project Type (JPY Million), 2009-2013
Table 68: Japanese Infrastructure Construction Value Add by Project Type (JPY Million), 2013-2018
Table 69: Japanese Institutiol Construction Output by Project Type (JPY Million), 2009-2013
Table 70: Japanese Institutiol Construction Output by Project Type (JPY Million), 2013-2018
Table 71: Japanese Institutiol Construction Output by Cost Type (JPY Million), 2009-2013
Table 72: Japanese Institutiol Construction Output by Cost Type (JPY Million), 2013-2018
Table 73: Japanese Institutiol Construction Output by Activity Type (JPY Million), 2009-2013
Table 74: Japanese Institutiol Construction Output by Activity Type (JPY Million), 2013-2018
Table 75: Japanese Institutiol Construction Value Add by Project Type (JPY Million), 2009-2013
Table 76: Japanese Institutiol Construction Value Add by Project Type (JPY Million), 2013-2018
Table 77: Japanese Residential Construction Output by Project Type (JPY Million), 2009-2013
Table 78: Japanese Residential Construction Output by Project Type (JPY Million), 2013-2018
Table 79: Japanese Residential Construction Output by Cost Type (JPY Million), 2009-2013
Table 80: Japanese Residential Construction Output by Cost Type (JPY Million), 2013-2018
Table 81: Japanese Residential Construction Output by Activity Type (JPY Million), 2009-2013
Table 82: Japanese Residential Construction Output by Activity Type (JPY Million), 2013-2018
Table 83: Japanese Residential Construction Val`ue Add by Project Type (JPY Million), 2009-2013
Table 84: Japanese Residential Construction Value Add by Project Type (JPY Million), 2013-2018
Table 85: Timetric Construction Market Definitions