Industry map/Construction & Real Estate

General Contractors industry map

Who earns the money in General Contractors, and who keeps it. When a company spans several industries, only the relevant segment is counted.

FY2025 · 171 companies · ¥22.7T

Industry map

Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.

Industry size (revenue)
¥22.7T

YoY +3.8%

Companies
171
Avg. salary(parent only)
¥7.5M

Avg. age 43.3

Industry weather
Sunny

Operating income +35.8%

Kajima[1812]

Construction + 3 more

#1
Revenue
¥2.97T▲5.7%
Operating income
¥222.5B▲80.3%

Margin 7.5%

Whole company: Revenue ¥3.07T · Net income ¥177.3B

Avg. salary ¥12.5M · 41.2(parent only)

Obayashi[1802]

Domestic building construction + 3 more

#2
Revenue
¥2.41T▼2.4%
Operating income
¥170.9B▲38.0%

Margin 7.1%

Whole company: Revenue ¥2.59T · Net income ¥173.8B

Avg. salary ¥12.4M · 42.0(parent only)

taisei[1801]

Building construction + 1 more

#3
Revenue
¥1.93T▼3.7%
Operating income
¥173.9B▲75.8%

Margin 9.0%

Whole company: Revenue ¥2.09T · Net income ¥170B

Avg. salary ¥11.9M · 42.3(parent only)

Shimizu[1803]

Construction business of the Corporation + 1 more

#4
Revenue
¥1.63T▲7.6%
Operating income
¥101.3B▲52.7%

Margin 6.2%

Whole company: Revenue ¥2.06T · Net income ¥126.6B

Avg. salary ¥10.4M · 43.7(parent only)

Daiwa House Industry[1925]

Logistics, Business and Corporate Facilities

#5
Revenue
¥1.15T▼14.0%
Operating income
¥127.6B▼20.0%

Margin 11.1%

Whole company: Revenue ¥5.58T · Net income ¥350.6B

Avg. salary ¥11M · 40.7(parent only)

INFRONEER Holdings[5076]

Building + 2 more

#6▲
Revenue
¥1.04T▲35.2%
Operating income
—

Whole company: Revenue ¥1.12T · Net income ¥76.6B

Avg. salary ¥11.9M · 43.2(parent only)

Haseko[1808]

Construction-related Business

#7▼
Revenue
¥820.1B▲5.3%
Operating income
¥68.5B▲21.6%

Margin 8.4%

Whole company: Revenue ¥1.27T · Net income ¥54.8B

Avg. salary ¥10.4M · 39.4(parent only)

Penta-Ocean Construction[1893]

Domestic engineering + 2 more

#8
Revenue
¥781.1B▲9.5%
Operating income
¥53.8B▲154.0%

Margin 6.9%

Whole company: Revenue ¥794.3B · Net income ¥34.7B

Avg. salary ¥9.4M · 41.3(parent only)

Toda[1860]

Construction + 3 more

#9
Revenue
¥611.1B▲13.3%
Operating income
¥40B▲39.2%

Margin 6.5%

Whole company: Revenue ¥645.7B · Net income ¥37B

Avg. salary ¥10.4M · 44.3(parent only)

Kumagaigumi[1861]

Building construction works + 2 more

#10
Revenue
¥487.7B▼2.2%
Operating income
¥27.3B▲91.4%

Margin 5.6%

Whole company: Revenue ¥487.7B · Net income ¥20.1B

Avg. salary ¥9.2M · 44.0(parent only)

Hazama Ando[1719]

Building construction + 2 more

#11
Revenue
¥429.7B▲2.8%
Operating income
¥41.9B▼2.9%

Margin 9.7%

Whole company: Revenue ¥439.6B · Net income ¥29.7B

Avg. salary ¥10.6M · 46.3(parent only)

Nishimatsu Construction[1820]

Building construction + 2 more

#12
Revenue
¥370.3B▲9.1%
Operating income
¥20.5B▲42.1%

Margin 5.5%

Whole company: Revenue ¥396B · Net income ¥24.1B

Avg. salary ¥10.6M · 43.8(parent only)

※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.

Other companies: TOA · Tokyu Construction · Sekisui House · Okumura · Takamatsu Construction Group · Nakano · EXEO Group · Tekken · Asanuma · Fukuda · Nomura · Totetsu Kogyo · Token · Yahagi Construction · Tobishima Holdings · Yokogawa Bridge Holdings · Raito Kogyo · PS Construction · Daiho · IHI · THE Zenitaka · Asia Pile Holdings · JDC · tanseisha · Ichiken · Daisue Construction · Wakachiku Construction · Gecoss · Kawada Technologies · Meiko Construction · Matsui Construction · Ohmoto Gumi · SHO-BOND Holdings · Nittoc Construction · Shinnihon · Fudo Tetra · starts · Kitano Construction · Seikitokyu Kogyo · TOA Road …+119

The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).

Switch years to see how the map shifts

Who earns the money

Area = revenue from businesses in this industry. Color = operating margin.

LossHigh margin(middle = 0% margin)

Who makes a profit

Across = revenue (log scale), up = operating margin, bubble size = operating income.

Ranking and momentum

RankCompany (business)RevenueShareOp. marginCAGRFCF*
1KajimaConstruction + 3 more¥2.97T13.1%7.5%+10.0%¥58.5B
2ObayashiDomestic building construction + 3 more¥2.41T10.6%7.1%+7.6%¥127.3B
3taiseiBuilding construction + 1 more¥1.93T8.5%9.0%+8.3%¥69.7B
4ShimizuConstruction business of the Corporation + 1 more¥1.63T7.2%6.2%+9.0%-¥57B
5Daiwa House IndustryLogistics, Business and Corporate Facilities¥1.15T5.1%11.1%+2.3%-¥304.6B
6▲1INFRONEER HoldingsBuilding + 2 more¥1.04T4.6%—+15.3%¥143.3B
7▼1HasekoConstruction-related Business¥820.1B3.6%8.4%+8.1%¥136.3B
8Penta-Ocean ConstructionDomestic engineering + 2 more¥781.1B3.4%6.9%+14.7%-¥27.6B
9TodaConstruction + 3 more¥611.1B2.7%6.5%+6.3%¥34.2B
10KumagaigumiBuilding construction works + 2 more¥487.7B2.2%5.6%+3.5%¥20.3B
11Hazama AndoBuilding construction + 2 more¥429.7B1.9%9.8%+6.4%¥25.9B
12Nishimatsu ConstructionBuilding construction + 2 more¥370.3B1.6%5.5%+4.9%-¥20.3B
13▲1TOADomestic civil engineering + 2 more¥342.6B1.5%8.6%+13.0%¥44.3B
14▲1Tokyu ConstructionConstruction (construction) + 1 more¥333.6B1.5%7.6%+6.9%¥2.94B
15▼2Sekisui HouseArchitectural / Civil Engineering¥298.3B1.3%7.4%+3.3%¥121.2B
16OkumuraConstruction + 1 more¥295.4B1.3%5.5%+6.5%-¥5.97B
17Takamatsu Construction GroupBuilding construction + 1 more¥273.6B1.2%6.9%+5.1%-¥18.2B
18NakanoConstruction + 2 more¥273.1B1.2%3.4%+9.4%¥10.1B
19EXEO GroupUrban Infrastracture¥248.5B1.1%6.6%+13.3%¥20.5B
20TekkenCivil engineering + 1 more¥174.4B0.8%2.6%+4.1%-¥14.7B
21AsanumaConstruction + 1 more¥171.5B0.8%10.8%+6.3%¥17.8B
22FukudaConstruction¥164.9B0.7%4.5%—¥715M
23▲2Nomura¥162.7B0.7%7.9%+10.0%¥9.65B
24Totetsu KogyoCivil Engineering Business + 1 more¥153.9B0.7%10.5%+9.7%¥2.05B
25▲4TokenConstruction¥151.1B0.7%10.2%+6.0%¥19.9B
26▲6Yahagi ConstructionBuilding Construction + 1 more¥151B0.7%9.7%+17.4%¥8.59B
27▲1Tobishima HoldingsEngineering + 2 more¥139.3B0.6%7.8%+0.7%¥1.35B
28▼5Yokogawa Bridge HoldingsBridge Business + 2 more¥139.1B0.6%11.1%+16.2%¥37.8B
29▲2Raito KogyoConstruction¥139B0.6%12.3%+6.2%¥10.3B
30PS ConstructionCivil engineering and construction business + 1 more¥138.7B0.6%—+6.5%-¥18.7B
31▼4DaihoCivil engineering + 1 more¥135.1B0.6%4.7%-3.0%¥3.01B
32▼6IHISocial Infrastructure¥129.6B0.6%2.9%——
33THE ZenitakaConstruction business¥122.8B0.5%3.4%+5.5%¥17.3B
34▲1Asia Pile HoldingsDomestic business + 1 more¥116B0.5%9.4%+5.6%¥9.33B
35newJDCConstruction + 1 more¥109.9B0.5%-1.8%-1.0%-¥430M
36▲4tanseishaCommercial And Other Facility Market + 2 more¥106.7B0.5%7.7%+14.4%¥3.26B
37▼1IchikenCNS¥105.9B0.5%10.7%—-¥3.87B
38▲3Daisue Construction¥105.6B0.5%6.2%+10.9%¥9.05B
39▲3Wakachiku ConstructionConstruction industry¥102.9B0.5%8.2%+4.0%-¥745M
40▼3GecossHeavy temporary construction¥102.1B0.5%8.4%+0.1%—
41▼7Kawada TechnologiesSteel structure + 2 more¥97.9B0.4%9.5%+1.6%¥12B
42▼3Meiko ConstructionConstruction enterprise¥95.7B0.4%13.6%+4.0%-¥210M
43▼5Matsui ConstructionConstruction¥94.5B0.4%6.6%+4.2%¥8.26B
44▲9Ohmoto GumiConstruction + 1 more¥87.4B0.4%9.1%+5.3%-¥5.73B
45▼1SHO-BOND HoldingsDomestic construction¥86.8B0.4%22.9%+3.0%¥8.62B
46▲9Nittoc Construction¥83.8B0.4%7.0%+6.1%¥2.17B
47▲2ShinnihonConstruction¥83.6B0.4%9.4%+7.4%¥16.7B
48▲6Fudo TetraSoil improvement business + 2 more¥81.5B0.4%9.2%+5.2%-¥3.93B
49▲1startsConstruction business¥76.2B0.3%10.2%+4.1%¥518M
50▼3Kitano ConstructionConstruction Business¥74.9B0.3%5.5%+6.4%-¥5.44B

Showing the top 50. See all 171 in the list below

* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.

How they make money differently

Where each company's ¥100 of sales goes, and how much it keeps (company-wide).

Ownership links

From the major-shareholder section of annual securities reports.

The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted. Showing up to 24 shareholder cards.

Compare the leaders side by side

All companies in General Contractors (by revenue)

All 174 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.

  1. Kajima¥2.97T · 7.5%
  2. Obayashi¥2.41T · 7.1%
  3. taisei¥1.93T · 9.0%
  4. Shimizu¥1.63T · 6.2%
  5. Daiwa House Industry¥1.15T · 11.1%
  6. INFRONEER Holdings¥1.04T
  7. Haseko¥820.1B · 8.4%
  8. Penta-Ocean Construction¥781.1B · 6.9%
  9. Toda¥611.1B · 6.5%
  10. Kumagaigumi¥487.7B · 5.6%
  11. Hazama Ando¥429.7B · 9.8%
  12. Nishimatsu Construction¥370.3B · 5.5%
  13. TOA¥342.6B · 8.6%
  14. Tokyu Construction¥333.6B · 7.6%
  15. Sekisui House¥298.3B · 7.4%
  16. Okumura¥295.4B · 5.5%
  17. Takamatsu Construction Group¥273.6B · 6.9%
  18. Nakano¥273.1B · 3.4%
  19. EXEO Group¥248.5B · 6.6%
  20. Tekken¥174.4B · 2.6%
  21. Asanuma¥171.5B · 10.8%
  22. Fukuda¥164.9B · 4.5%
  23. Token¥164.1B · 10.5%
  24. Nomura¥162.7B · 7.9%
  25. Totetsu Kogyo¥153.9B · 10.5%
  26. Yahagi Construction¥151B · 9.7%
  27. Tobishima Holdings¥139.3B · 7.8%
  28. Yokogawa Bridge Holdings¥139.1B · 11.1%
  29. Raito Kogyo¥139B · 12.3%
  30. PS Construction¥138.7B
  31. Daiho¥135.1B · 4.7%
  32. IHI¥129.6B · 2.9%
  33. JDC¥128.2B · 5.7%
  34. THE Zenitaka¥122.8B · 3.4%
  35. Asia Pile Holdings¥116B · 9.4%
  36. tanseisha¥106.7B · 7.7%
  37. Ichiken¥105.9B · 10.7%
  38. Daisue Construction¥105.6B · 6.2%
  39. Wakachiku Construction¥102.9B · 8.2%
  40. Gecoss¥102.1B · 8.4%
  41. Kawada Technologies¥97.9B · 9.5%
  42. Meiko Construction¥95.7B · 13.6%
  43. Matsui Construction¥94.5B · 6.6%
  44. Ohmoto Gumi¥87.4B · 9.1%
  45. SHO-BOND Holdings¥84.8B · 23.2%
  46. Nittoc Construction¥83.8B · 7.0%
  47. Shinnihon¥83.6B · 9.4%
  48. Fudo Tetra¥81.5B · 9.2%
  49. starts¥76.2B · 10.2%
  50. Kitano Construction¥74.9B · 5.5%
  51. Seikitokyu Kogyo¥74.7B · 9.7%
  52. TOA Road¥74.3B · 5.9%
  53. Space¥71.5B · 6.8%
  54. Oriental Shiraishi¥68.6B · 7.7%
  55. Kanadevia¥68.5B · -3.5%
  56. Tokura¥67B
  57. Daiichi Kensetsu¥58.9B · 11.6%
  58. Mirait ONE¥58.1B · 2.7%
  59. Ueki¥57B · 5.7%
  60. Miyaji Engineering Group¥56.6B · 8.1%
  61. Keio¥53.8B · 13.8%
  62. Yamato¥53.7B · 9.8%
  63. Nichireki Group¥50.8B · 9.3%
  64. Moriya¥50.5B · 11.8%
  65. Watahan&¥49.9B · 4.4%
  66. Kyushu Railway Company¥48.1B · 16.1%
  67. Nankai Tatsumura Construction¥45.6B · 6.2%
  68. Sanko Metal Industrial¥43.7B · 8.4%
  69. Taiheiyo Cement¥41.7B · 4.5%
  70. Nisshin Group Holdings¥39.4B · 9.8%
  71. Yamaura¥38.5B · 14.8%
  72. Sata Construction¥36.8B
  73. Novac¥35.4B · 5.3%
  74. Sala¥35.3B · 9.8%
  75. Watanabe Sato¥33.7B · 3.2%
  76. Komaihaltec¥33.7B · 9.0%
  77. Semba¥32.8B · 7.0%
  78. Fuji P.S¥32.1B
  79. Nankai¥30.4B · 9.5%
  80. Tomoe¥27.9B · 6.8%
  81. Mori-Gumi¥27.7B · 9.6%
  82. japan foundation engineering¥27.4B · 5.3%
  83. First-¥27.2B · 11.2%
  84. KUWAZAWA Holdings¥25.7B · 1.8%
  85. Kawagishi Bridge Works¥24.2B · 7.7%
  86. Keikyu¥23.8B · 16.0%
  87. Konishi¥23.1B · 10.3%
  88. Mikikogyo¥22.6B · 8.7%
  89. Sonec¥22.5B · 8.3%
  90. Nippon Sharyo¥21.8B · 14.4%
  91. The Takigami Steel Construction¥20.7B · 1.6%
  92. tenox¥20.5B · 6.2%
  93. Shinwa¥20.1B · 12.4%
  94. Dai-Ichi Cutter Kogyo¥19.6B · 14.1%
  95. Keisei Electric Railway¥18.1B · 14.3%
  96. UNICON Holdings¥17.6B · 9.7%
  97. SAAF Holdings¥17.2B · 1.4%
  98. VIS¥15.9B · 12.6%
  99. Kureha¥14.8B · 9.4%
  100. Tanaken¥14.8B · 14.8%
  101. Nippon Kanryu Industry¥14.7B · 8.2%
  102. TAKADAKIKO(Steel Construction)¥14.3B · -3.1%
  103. Ochi Holdings¥14.2B · 8.1%
  104. Candeal¥13.9B · 3.0%
  105. Taiyo Kisokogyo¥13.5B · 3.3%
  106. Kudo¥12.9B · 6.0%
  107. Toei Company¥12.2B · 11.4%
  108. Hokkaido Chuo BUS¥11.5B · 8.2%
  109. Toyo Asano Foundation¥11.5B · 5.5%
  110. KFC¥10.3B · 4.0%
  111. Interlife Holdings¥10B · 6.5%
  112. kondotec¥9.87B · 1.3%
  113. Mirarth Holdings¥9.23B · 2.5%
  114. Masaru¥9.17B · 6.2%
  115. Takamisawa¥9.01B · 3.5%
  116. FJ Next Holdings¥8.99B · 9.2%
  117. Giken¥8.68B · 12.6%
  118. The Kaneshita Construction¥8.39B · 7.8%
  119. Cosmos Initia¥8.34B · 1.1%
  120. santo¥8.15B · 3.7%
  121. Properst¥7.8B · 9.9%
  122. Daisan¥7.67B
  123. Lilycolor¥7.43B · 4.7%
  124. Takahashi Curtain Wall¥7.28B · 1.6%
  125. Avantia¥7.08B · 3.2%
  126. Maruken Lease¥7.04B · 4.7%
  127. Nisso Group¥6.8B · 11.1%
  128. Takamiya¥6.79B · 24.4%
  129. Gifu landscape architect¥6.27B · 8.6%
  130. Koyou Rentia¥6.02B · 4.1%
  131. Hiroshima Electric Railway¥5.99B · 3.9%
  132. Cados¥5.88B · 8.5%
  133. Seiyu Kogyo¥5.85B · 8.6%
  134. Sanyo Industries¥5.84B · 6.9%
  135. NAGAWA Co .¥5.13B · 12.0%
  136. mbs¥4.99B · 19.8%
  137. Ohmori¥4.81B · 10.5%
  138. Toami¥4.64B · 2.6%
  139. Meiho Facility Works¥4.64B · 21.2%
  140. Kintetsu Department Store¥4.47B · 17.6%
  141. Orvis¥4.36B · 8.1%
  142. Kissei Pharmaceutical¥4.33B · 13.7%
  143. Meiho Holdings¥4.29B · 6.0%
  144. Nasu Denki-Tekko¥4.16B · 11.8%
  145. Beauty Garage¥3.92B · 4.7%
  146. Meiho Enterprise¥3.67B · -2.2%
  147. Ibokin¥3.46B · 5.9%
  148. Saita¥3.27B · 12.1%
  149. Giken Holdings¥3.25B · 17.4%
  150. Taiheiyo Kouhatsu¥3.06B · 3.1%
  151. T.O. Holdings¥2.95B · 1.9%
  152. i.a groupcorporation¥2.85B · 7.1%
  153. SE¥2.83B · 8.8%
  154. Business One Holdings¥2.09B · 6.2%
  155. Kyowanissei¥2B · 2.2%
  156. MT Genex¥2B · 13.8%
  157. Yamau Holdings¥1.97B · 11.3%
  158. AB&Company¥1.8B · 3.7%
  159. taisei oncho¥1.79B · -13.7%
  160. Toyokoh¥1.78B · 35.3%
  161. Hanwa Home's¥1.58B · 9.2%
  162. Consec¥1.55B · 4.6%
  163. Kobelco Wire Company¥1.47B · -10.9%
  164. Hokuriku GAS¥1.46B · 5.5%
  165. Unisia Holdings¥1.43B · 7.1%
  166. Upcon¥1.39B · 30.3%
  167. Kimura¥1.33B · 11.5%
  168. Saibo¥949.2M · 14.9%
  169. Atomix¥927.3M · 8.7%
  170. C.E.Management Integrated Laboratory¥861.9M · 9.2%
  171. Asagami Coporation¥574.3M · 14.6%
  172. greenland resort¥372.1M · 26.2%
  173. SYLA Holdings¥236M · -255.5%
  174. NANSO Transport¥165.8M · 5.5%

Revenue · Op. margin

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