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Nippon COMSYS Corporation, Year Ended March 31, 2000

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日本コムシスは、1951年にＮＴＴの建設部門の役割を担って設立されました。創立以来、通信建設業界のトップ企業として常に業界をリードする存在であり、とりわけ通信とコンピュータを融合させ、新たなコミュニケーション手段を実現させる技術には強い自信を持っています。今後も情報社会の発展に貢献すべく、持てる技術を遺憾なく発揮し事業の拡大に努力を続けていきます。
また、私たちは斬新な発想を大事にし、社員一人ひとりがプライドを持って働くことができ、そして努力した結果が報われ、才能と能力を存分に発揮できる、風通しのよい企業文化をつくり上げてきました。私たちは、素晴らしい未来の実現に向かってアクティブに行動する、クリエイティブな人間集団であり続けたいと考えています。

Nippon COMSYS Corporation was founded in 1951 to assume the duties of the Construction Division of Nippon
Telegraph and Telephone Corporation (NTT). Since its establishment, the Company has been a leader in the telecommunications engineering field. A specialist in harmonizing communications and computer technology, we are striving to
expand our business to meet the challenges of the future, and to make a contribution to the development of the information-based society. We are fostering a corporate culture characterized by fresh thinking and open communication, in
which each employee can take pride, can thrive, and can give full expression to his or her talents and capabilities. We area creative organization, working toward a better future.
C

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財務ハイライト Financial Highlights
投資家の皆様へ Message from the President
コムシス通信工事の流れ Construction Flow for COMSYS's Telecommunications Facility
通信インフラ工事 Construction of a Telecommunications Infrastructure
移動体通信工事 Construction of Mobile Telecommunications Systems
技術開発 Technological Development
部門別受注高 Orders Received during the Period
部門別売上高 Projects Completed during the Period

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1
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財務データ Financial Section
単体貸借対照表（11 年間） Non-Consolidated Balance Sheets (11 Years)
単体損益計算書（10 年間） Non-Consolidated Statements of Income (10 Years)
連結の業績 Summary of Consolidated Performance
子会社および関連会社 Subsidiaries and Affiliated Companies
業界他社比較 Comparison of 6 Subconstruction Companies in Japan
日本コムシスグループ Nippon COMSYS Group
投資情報 Investor Information
会社概要 Corporate Data

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13
20
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25
26
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29

見通しに関する注記事項
このインベスターズガイドに記載されている現在の計画、見通し、戦略などは、仮定や確信に基づくものです。これらは、現在入手可能な情報をもとに、日本コムシス経営者の判断によっています。したがって、これらの業績見通しのみに全面的に依拠することは控えるようお願いいたします。実際の業績は、さまざまな重要な要素により、これらの業績見通しとは大きく異なる結果となりうることをご承知おきください。
Important Note on Forward-Looking Statements

Statements made in this investors' guide with respect to Nippon COM SYS's current plans, estimates, forecasts, and strategies are forward-looking statements representing the considered opinion of top management, and based on information and data available at the time of production. For these reasons,Nippon COM SYS cautions against the use of these statements as the sole foundation of forecasts of the Company's future performance. A number of important factors influencing business activities have the potential to cause wide variations between these statements and actual future results.

Financial Highlights

New Orders Received during the YearNet Sales

Net Income/Primary Earnings per Share

Return on Equity(billions of yen)(billions of yen)(billions of yen)

(yen)

(%)

300

300

9

60

12

200

200

6

40

8

100

100

3

20

4

0

0

0

0

0

’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00（millions of yen, except where noted）

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

New Orders Received during the Year

124,584

124,687

128,073

135,762

143,034

186,180

225,147

234,877

228,838

223,789

Net Sales

119,239

122,582

125,771

136,037

152,213

180,629

220,59 0

224,103219,764

226,146

Operating Income

4,539

3,551

3,929

5,698

7,042

8,544

13,582

14,061

13,877

13,626

Recurring Profit

4,871

4,261

4,157

5,785

7,150

8,882

13,83914,555

14,506

14,297Net Income

2,075

1,539

1,631

2,419

3,637

3,742

6,267

7,611

5,075

5,818

Primary Earnings per Share (¥)

29.28

21.52

22.78

26.62

37.69

32.91

54.27

60.96

3 8.7842.78

Return on Equity (%)

7.71

5.36

5.35

6.78

7.56

6.47

10.08

9.81

5.44

5.62

Investors’ Guide 2000

1

Message from the President--

Q 1 :What
are your views on
the current status of theQ 3 :What
will the NTT Group seek to do
in capital investment?

telecommunications field?

Ａ： According to NTT’s mid-term management improvement meas-

Ａ：Although the Japanese economy in general is sluggish, theures disclosed in November 1999, NTT has decided to restrain
capital investment, which will naturally affect our business. Meanwhile, we have continue d to receive large orders from NTT
DoCoMo. These orders are contributing to our growth, although
they do not offset the decrease in orders from the NTT Group.
COM SYS anticipates increasing capital investment in the formationof IP networks to match the next generation of mobile telecommunications systems, W-CDMA, from NTT DoCoMo and growing
demands for Internet services.

President Hironobu Takeuchi

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large-scale restructuring that started in July 2000. In particular, we have integrated our sales
sectors, namely the NTT Sales Sector and the Domestic Construction and Engineering Sector,
and rearranged them by customer to increase orders. In our construction system, we havestreamlined and rearranged the existing NTT-related construction and Domestic Construction
and Engineering, exchanging engineers and techniques to create a more efficient engineeringsystem. Moreover, we set up a Business Development Department to work on new services
and areas and an IP Network Office at our branches nationwide in order to cope with therapid growth of the Internet and the subsequent formation of Internet protocol (IP) networks
by NTT and other carriers. These are the highlights of our restructuring.

○

Ａ：To answer growing demands in the telecommunications market, COM SYS underwent○

Q 2:What did you do in your recent restructuring?

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Q 4 :Whatdo you predict regarding orders
for the next generation of mobile○

telecommunications market is witnessing rapid development with
the information technology (IT) revolution, including the Internet’s
faster proliferation into the lives of ordinary people, diverse data
communications services, and a shift by users from fixed telecommunications to mobile telecommunications. In addition, theJapanese telecommunications market is witnessing mergers andalliances among telecommunications firms and the entry of newcomers and foreign-owned firms in the Japanese market. Moreover, Nippon Telegraph and Telephone Corporation (NTT),
which is our largest customer, was divided into four companies
in July 1997. Since that time, NTT Group companies have beentransforming themselves into a “global group of information
distribution companies.” Given these changing circumstances, we
believe that the times call for us to make aggressive decisions forfurther achievements.

2

Investors’ Guide 2000

telecommunications systems?

Ａ：NTT DoCoMo is scheduled to begin the world’s first W-CDMA

service for the next generation of mobile telecommunications systems in May 2001. Service will start in Tokyo’s 23 wards and will be followed by Yokohama
and Kawasaki in August 2001; Tokai and Kansai will be up and running around December
2001. The W-CDMA service will be deployed in Hokkaido, Tohoku, Hokuriku, Chugoku,
Shikoku, and Kyushu by April 2002. The most widely noted feature of the system is its
construction as a comprehensive construction project. The project requires close cooperationin negotiation, construction, wireless, and switching sections. COMSYS has already handledexpert organizations to meet customer needs. The second noted feature for the constructionof the mobile telecommunications system requires real engineering and construction. In otherwords, installation and testing processes of multiple base stations must be carried out concurrently. This requires a certain large number of engineers and measurement instruments at atime. As a third feature, the construction design will handle different installation conditions,unlike installation work inside NTT offices, requiring acquired experience and expertise. Ourstrength is that COMSYS has more than enough technical experience to carry out the
installation of the next generation of mobile telecommunications systems.

-

Telecommunications Infrastructure Shifting to Broadband● The next generation of mobile telecommunications

system service will begin in the spring of 2001.
The backbone involves IP networking.

● NTT regional companies conduct full-scale deployment.
FTTH

Mobile● Change to digital broadcasting for all of the stations● Carriers conduct full-scale deployment.

● New common carriers (NCCs)

begin services.

will be complete by 2010.

IP
network（ISDN）ADSL

Regional
wave TV
broadcasting

Shift toBroadband

BS / CS● Ground-wave data broadcasting links to the Internet.

● BS digital broadcasting and data broadcasting start.
● New type of EC services linked to the Internet start.

● The number of CATV Internet subscribers reaches● New common carriers (NCCs) enter themarket one after another and bypass theeastern and western NTT networks.

CATV

FWA
Wireless
LAN● Carriers and leading condominium builders

compete in offering services.

Cable
conductor
leasing
service

220,000 (as of the end of March 2000). Main stations
will switch to digital broadcasting by 2003 and the restof the stations will do so by 2010.

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these programming techniques and expertise and integrating with our LAN section meansthat the COMSYS Group will develop this business into a total solution business sector which
will cover everything from consulting to programming. When necessary, we will set up
partnerships with other companies to promote this sector.

-

Q 7 :What
are your views on personnel training withrelation to the fast development of technologies in the

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-

Ａ：In the past, our Information Systems Sector did business as software houses do. Applying

area of communications?

Ａ： Our employees are our most important resource. COM SYS has been emphasizing○○○

those of telecommunications equipment, power supply systems, and construction-related
work from public offices, new common carriers (NCCs) and related organizations, and otherprivate companies. The market of this sector also has been expanding due to technologicalinnovations in communications networks and growing demands. However, competition
centering on construction project pricing is also becoming increasingly severe. “SweeCOM,”
our optical fiber cable installation system announced in October 2000, adopts a revolutionary
method that suctions the fiber cable with air, unlike other existing methods that pull the cablewith a machine. “SweeCOM” is simple and contributes to a reduced cost and shorter
installation period. Its demonstration testing has also proven its performance. COMSYS willcontinue to improve “SweeCOM” to make it a strong tool to win orders for optical fiber cableinstallation projects.

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Ａ：Our Domestic Construction and Engineering covers a wide range of orders, including

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Q 5 :What
are your views on Domestic Construction
and Engineering?
Q 6 :What are your ideas about your solution business?

in-house training since the Company was established. In November 1999, we opened an
education and training center in the city of Omiya, Saitama Prefecture. The Training Center
provides trainees with strategic programs to help them learn about new technologies, pick up
on existing technologies, acquire a variety of qualifications, and learn about and improve
IP-network-related technologies in particular.

-

Q 8 :Finally, what are your cost reduction measures?
Ａ：We will make the most of the “full responsibility for the contractor,” a system that grants

substantial discretionary powers to the contractor which actually does the construction. We
will also help our subcontractor firms to improve their capabilities with our thorough cost
reduction efforts. In addition, we will devise and develop new forms of construction engineering and process control while also exchanging personnel for greater efficiency in operations.
COMSYS will celebrate its 50th birthday in 2001. The Company is determined toconsolidate its technological base to become a truly comprehensive engineering firm while
contributing to the further development of a digitally based society in the 21st century. We
would like to ask for the continuing support of our customers.

● Power and subway companies offer full-scaleservices for optical fiber cable conductor leasing.

President and Representative Director Hironobu Takeuchi

Investors’ Guide 2000

3

Construction Flow for COMSYS’s Telecommunications Equipment

Communications
satellite

BS

BS
BS

BS

MLS
BS

The Internet
BS

BS

MGS

Mobile gateway
switchMobiletelecommunications
system

PBX

Route
r

Fixed
telecommunications
systemFWA

POIInterconnecting
point

POI

Local switch

Optical fiber cable
Metal cable
IGS

Business user

Interconnecting
gateway switch

LS

LS

Modem

Local
switchPBX
LANWireless LAN
FWA

Metal
subscriberline- ADSL

PC
パソコン
ONU

Telephone
FAX

Optical fiber
cable

Aerial
cable

FTTH

Local
switchADSLFTTH (shared access)
FWA

RouterHome userLS

SwitchRouter

SwitchTransmission
facility

TransmissionfacilityTS
TS

Terrestrial microwave
Toll switch

Underground cable

Optical fiber cable
Metal subscriber line

44

Investors’ Guide 2000

Feeder cable point
Subscriber
Line

Wireless LAN

IMT-2000
IMCS

BS

PHS

BS

LAN

BS

Base station
Mobiletelecommunications
system i-mode

FWA

Mobilelocal MLS
switchCable tunnel
Junction Cable

ConduitToll Line(Toll Cable)

Optical submarine cableCable work

Construction of a Telecommunications Infrastructure
To Provide New Telecommunications—COMSYS Supports the Establishment of an Information-Based Society
Until a few years ago, the main telecommunications tool for people was the telephone. Now the main emphasis is on mobile telephones
and the Internet. New technologies are emerging one after another. Given these changing circumstances, COMSYS has supported theconstruction of an ergonomic telecommunications infrastructure since the firm was established, and expectations for the Company havecontinued to grow. COMSYS is determined to play a major role in determining telecommunications infrastructures in the 21st century.
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Aerial cable construction○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○Civil engineering work

Tunnel inspection

COMSYS designs, tests, and installs
telecommunication networks ranging
from those that extend telecommunications cables between large cities
to those running telephone lines tohomes. The Company also constructs
optical fiber networks for digitalcommunications, CATV networks, IP
networks, and other types of communications networks in addition tovoice telephone networks.

Construction of switching system and transmission equipment

A diverse infrastructure has been installed underground, including water
piping, power cabling, and gas piping. As a result, new telecommunications cables must be installed
deeper underground where a number of elbowed cable points must be
fashioned using advance d tec hniques. COMSYS’s installation ofunderground telecommunications
cable accounts for nearly one-thirdof this installation work in Japan.

Adjustment work fortransmission equipment

COMSYS exhibits its strengths in theconstruction of communications infrastructures for the fast-growing IT
field including the Internet, using awide range of experience andexpertise to design and maintainswitching systems and transmission
equipment.

Construction of power equipment
Conduit line construction by the
open-cut method means digging in
the ground and burying the cables.
Underground cabling is more disaster-resistant than wiring on utility
poles and also contributes to a cleaner
street environment. Because thegovernment is strengthening
measures for the establishment of an
information-based society, there
should be an increasing demand forconstruction and engineering services.

Open-cut construction
for an information box

Telephone lines, CATV networks, Intranets, andother information networks need power forsystems. COMSYS designs and constructs optimal power supply equipment that meets theneeds of the switching system, transmission equipment, Internet-related facility, or other network.

COMSYS is the leading company in telecommunications equipment
construction in Japan and can implement all kinds of telecommunications
construction projects nationwide. In addition, COMSYS has continued tosupport the communication of information in our culture as a comprehensive
multimedia firm. Diverse demands are emerging with technologicalprogress and the substantial advent of an information-based society, which
is supported with telecommunications infrastructures implemented by
NTT and other carriers, public agencies, and LANs and WANs constructedby engineering companies in the private sector. COMSYS is responding
to those demands and is determined to contribute to the establishment of
an information-based society.

Inspection of
power supply
equipment

Investors’ Guide 2000

5

Construction of Mobile Telecommunications Systems
Demands for telecommunications equipment construction so that NTT DoCoMo and mobile telecommunications carriers can provide
stable services continue to grow due to sharp increases in the number of subscribers of mobile telephones, i-mode, etc. COMSYS isundertaking the construction of equipment for the next generation of mobile telecommunications systems—W-CDMA—which is scheduled
to start communications service with dynamic picture images in May 2001. Backed by its advanced technologies, COMSYS is expected toplay a major role in the construction of this telecommunications equipment.
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○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○Steel tower for a mobile
telecommunications system

COMSYS is the leader in the construction of steel towers for mobile telecommunications systems
in Japan. The Company engages
in the construction of such towers
and related equipment on theroofs of NTT buildings and otherprivate buildings for NTT
DoCoMo.

Constructing micro-antenna facilities andtuning antenna directions to facilitate thetransmission of radio waves between antennas
are very important aspects of a telecommunications
infrastructure. Such important construction
work demands reliability backed by quality
construction and vast experience.

When constructing mobile telecommunications systems ordered by NTT
DoCoMo or other carriers, COMSYS is
in charge of selecting base station locations, negotiating with building owners
and/or landowners, designing construction projects, implementing constructionengineering, testing constructed systems,
and other work.
Flow for Base Station
Construction for the IMT-2000

Negotiating

Pre-arrangement work
Tuning a
micro-antenna’s
direction

6

Investors’ Guide 2000

Most of the steel tower antennas formobile telecommunications systems
are constructed on the ground in suburbs and on the roofs of private buildings in cities. COMSYS constructs basestation antennas and installs power
supply equipment, transmission facilities, and other related equipment for
NTT DoCoMo and other carriers.

Antenna on abuilding roof
for a mobile
telecommunications
system (in a city)

On-site study of existing base stations

Consulting̀Base station
for a mobile
telecommunications
system (in a suburb)

COMSYS constructs and installs nextgeneration switching systems andtransmission equipment in offices ofcarriers for IMT-2000, including
existing mobile telecommunications
equipment.

Construction design
Implementation

Verification test for aswitching system

Tuned Rotary-Mass Damper

Technological Development
COMSYS is aggressively working on expanding its business. The key lies in the education and training center at Omiya that was completed
in November 1999. Securing and training engineers who are capable of handling technological innovations plays an important role amid theaccelerating and continuing development of the telecommunications field. The center provides engineers with advanced equipment anddiverse programs for the improvement of technical capabilities for multimedia, education in existing skills and techniques, and acquisition ofcertification and qualifications. The center seeks to train and educate engineers so that they can explore and form new businesses for the
COMSYS Group. COMSYS is also cooperating with a university for a joint research project outside the framework of the COMSYS Group.
○○○○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○Education and Training Center

Negative Pressure and Absorption Cable Installation System “SweeCOM”

Cable drum

Shunt
Route blower

Routerconnection
test

Controller
Absorption

Pressure adjuster
Rodding cord collector

Pig

Through valve

Our education and training center at Omiya is fully
equipped with routers and other relevant equipment for practical education and training in addition to transmission equipment and power supply
equipment. The center is our response to a growing demand for network infrastructure construction
and readjustment by carriers and other privatecompanies. The center also provides engineersfrom subcontractor firms with similar programs.

“SweeCOM” is a simple cable installation system unlike the complex
ones on the market. This revolutionary system allows efficient installation of optical fiber cables. The main merits of the system are (1)substantial reduction of the installation period; (2) safe construction with
air-absorption of cables (no mechanical tension on the cable); (3) applicability for thick cables; (4) reduction in personnel costs; and (5) efficientinstallation that contributes to a substantial reduction in total costs.
People in the optical fiber construction industry are paying attention to“SweeCOM” since it will consolidate COMSYS’s position with thelargest share of the optical fiber construction market in Japan.

In a joint research project with Tokai University, COMSYS has successfully developed a revolutionary vibration damping mechanism thatenables the damping of a structure’s vibrations
by placing a weight in the structure. The highly
reliable mechanism is so simple that there will
be few problems. The installation cost of themechanism is one-third to one-fifth of otherexisting vibration damping systems. This “tuned
rotary-mass damper” can be used in buildings,
bridges, viaducts, utility poles, signboard poles,
and other structures.

Investors’ Guide 2000

7

Orders Received during the Period◆ Awards Received and Net Sales during the Period

Orders Received during the Period
Information Systems
Domestic Construction and Engineering
Overseas Construction“Inside” Projects“Outside” Projects(billions of yen)

300

200

100

0

’91

’92

’93

’94

’95

’96

’97

’98

’99

’00

In our NTT Group Construction orders dropped 7.0% compared to the corresponding period a year
earlier due to negative impacts mainly resulting from NTT's redirection of capital investment. Orders
received for our Overseas Construction sector also fell slightly by 0.4% compared to the corresponding
period a year earlier due to the sluggish economy in Asia, though the Company promoted aggressive
activities to win orders that focused on Southeast Asia.
In our Domestic Construction and Engineering sector, capital investment remained high due to theongoing IT revolution. COMSYS also deployed aggressive marketing activities with a focus on its
company-wide strategic business areas, including C• C• BOX, CATV, and network solutions, by targeting
both the public sector and companies in the private sector. As a result, orders received for our Domestic
Construction and Engineering sector increased 7.5% compared to last year. In our Information Systems
sector, orders for our software development grew slightly by 1.1% compared to the corresponding perioda year earlier as a result of our wide range of efforts including presentations of comprehensive solutions
to potential customers.
As a result, total orders received during the period decreased 2.2% from last year. Although orders
received for our Domestic Construction and Engineering sector continued to increase, the NTT Group
Construction and Overseas Construction sectors experienced slackening. On the whole, however, net
sales for the period rose 2.9% from the corresponding period a year earlier.

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3“Outside” Projects

48,28943,577

47,11851,94055,723

71,12378,97674,03869,221

58,183“Inside” Projects

44,211

44,02442,88249,26450,41460,06078,16481,45773,81074,856

Subtotal

92,50087,60190,000101,204

106,137

131,183

157,140

155,495

143,031133,039

Overseas Construction

2,311

6,395

7,504

1,982

4,059

8,780

11,468

9,362

4,044

4,027

Domestic Construction and Engineering

16,845

17,282

18,94820,732

18,86931,196

41,05853,792

63,84568,609

Information Systems

12,92813,409

11,621

11,844

13,96915,021

15,481

16,22817,91818,114

Total

124,584

124,687

128,073

135,762

143,034

186,180

225,147

234,877

228,838

223,789(millions of yen)

NTT Group Construction

8

Investors’ Guide 2000

Projects Completed during the Period◆ Outlook for the Next Term

Projects Completed during the Period

In our NTT Group Construction sector, COMSYS expects capital investment as a whole to slacken due torestrained capital investment as a part of the NTT Group's management improvements, although capital
investment in mobile telecommunications equipment is expected to rise. In addition, domestic competition among carriers and U.S. and European competitors is expected to grow even fiercer, leading to a very
difficult market environment. COMSYS is determined to make every effort to win new orders while
improving safety and construction efficiency, enhancing equipment for outsourcing, and training and educating engineers. Since the situation for Asian economies, our main market, is expected to remain severe,
COMSYS will actively pursue its order-winning activities in our Overseas Construction sector in terms ofthe construction of telecommunications equipment as well as in public works such as water and sewage
construction, railway telecommunications equipment, cable-tunnel construction for power supplies, andnew areas represented by IT. COMSYS will do so while carefully calculating the risks of these actions.
COMSYS also plans to win new orders by developing new business regions in addition to winning orders
in existing marketing areas. Our Domestic Construction and Engineering sector is expected to grow inanticipation of the formation of an intensive information-based society for the 21st century. The Company
will mobilize its resources to receive new orders with a focus on company-wide strategic business such asC• C• BOX while carefully watching trends in other areas. We are also determined to expand our Information Systems sector, increase our software-related business, enhance our ability to meet demands in thesolution business, and promote aggressive marketing activities to anticipate customer needs and thus win
new orders.

Information Systems
Domestic Construction and Engineering
Overseas Construction“Inside” Projects“Outside” Projects(billions of yen)

300

200

100

0

’91

’92

’93

’94

’95

’96

’97

’98

’99

’00

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3“Outside” Projects

43,80544,72449,09650,48458,64670,49479,30675,65868,562

63,254“Inside” Projects

47,711

46,026

40,765

48,81352,407

59,11980,081

74,33974,38577,714

Subtotal

91,51690,75089,861

99,297

111,053

129,613

159,387

149,997

142,947

140,968

Overseas Construction

2,737

3,761

3,738

4,274

8,729

6,697

8,925

10,545

7,850

3,007

Domestic Construction and Engineering

12,68915,472

19,467

20,944

19,392

28,70637,41547,47652,41164,560Information Systems

12,297

12,59912,705

11,522

13,03915,613

14,86316,085

16,556

17,611

Total

119,239

122,582

125,771

136,037

152,213

180,629

220,590

224,103219,764

226,146(millions of yen)

NTT Group Construction

Investors’ Guide 2000

9

NTT Construction

Total Sales of NTT Construction/Percentage of Total Sales“Inside” Projects“Outside” Projects
NTT Construction’s Percentage of Total Sales(billions of yen)

Total Subscribers of Mobile Telephones

The NTT DoCoMo Group

Share of NTT DoCoMo(ten thousand)(ten thousand)

(%)

（%）
180

90

6,000

3,000

60

120

60

4,000

2,000

40

60

30

2,000

1,000

20

0

0

0

’91

’92

’93

’94

’95

’96

’97

’98

’99

0

0

’96 ’97 ’98 ’99 ’00’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

Total Subscribers of Mobile Telephones

86

137

171

213

433

1,020

2,087

3,152

4,153

5,114

The NTT DoCoMo Group

54

84

102

132

220

493

1,096

1,798

2,389

2,936

Share of NTT DoCoMo (%)

62.8

61.3

59.6

62.0

50.8

48.3

52.5

57.0

57.5

57.4

Fixed Telephones

5,448

5,621

5,760

5,878

5,988

6,104

6,146

6,038

5,847

5,545

(100 millions of yen, except where noted)

1996/3

1997/3

1998/3

1999/3

2000/3

Planned Construction

19,90019,911

18,87017,27914,598

16.0

19.0

23.0

36.0

1,900

2,310

2,100

2,440

(ten thousand, except where noted)

2001/3
PlannedCompletion of Optical Fiber Cable Installation (%)
Investment in Optical Fiber Cable

10

Investors’ Guide 2000

13.0

2,400

12,570
East Japan 48.0
West Japan 37.0
1,900

Domestic Construction and Engineering Sales to Major Clients

Total Sales of Construction and Engineering/Percentage in Total Sales
Sales of Domestic Construction and Engineering(billions of yen)

Percentage of Domestic Construction
and Engineering in Total Sales
(%)
30

75

50

20

25

10

OthersGeneral Contractors

Government
Agencies
NTT Group
0

’91

’92

’93

’94

’95

’96

’97

’98

’99

’00

Manufacturers

0

New Common Carriers

Domestic Construction and Engineering Orders Received from Major Clients(10 millions of yen)

1998/3

1999/3

2000/30100

General Contractors

200

Government Agencies

300

Manufacturers

New Common Carriers

400

500

NTT Group

600

700

OthersInvestors’ Guide 2000 11

Total Sales of Overseas Construction/Percentage in Total Sales

Total Sales of Information Systems/Percentage in Total Sales

Sales of Overseas Construction(billions of yen)

Sales of Information Systems(billions of yen)

Percentage of Domestic Construction
and Engineering in Total Sales

Percentage of Domestic Construction
and Engineering in Total Sales

(%)

12

(%)
6.0

18

12

8

4.0

12

8

4

2.0

6

4

0

0

0

’91

’92

’93

’94

’95

’96

’97

’98

’99

’00

Major Overseas Projects Completed
Nigeria
Iraq
Egypt
ThailandTaiwanSri Lanka
Nepal
Thailand
KuwaitTanzania
ThailandThailandPhilippines
Philippines
Philippines
ThailandIbadan new local line project
Installation of telephone lines for 17 local exchanges
Supply and installation of telecommunications cable network in Ismailia and Suez
Installation of digital exchange equipment
Installation of highway traffic control system
Installation of local telephone lines in the Badulla and Anuradhapura regions
Installation of microwave telecommunications system (inside and remote)
Fifth local cable network installation for TOT in Bangkok and provinces
Installation of digital loop coil system in Farwaniah Exchange
Rehabilitation of telecommunications network in Dar es Salaam
Seventh local cable network for TelecomAsia in Bangkok
Seventh local cable network for TT&T in the provinces
Supply and installation of local cable network for Major Telecom Inc. in Mindanao
Supply and installation of OSP equipment and optical fiber cable for ICC in Manila
Installation of trunk lines and local network for GLOBE Telecom PHASE-2 in Manila and the provinces
The telephone expansion project to overcome short-term line shortage / B.E.1996-1998 for TOT (800K)

’91

’92

’93

’94

’95

’96

’97

’98

’99

’00

0

Net Sales of Information Service Industry in Japan(billions of yen)

12,000

8,000

4,000

Overseas Projects in Progress (As of June 2000)
Philippines
Philippines
Thailand
12

Supply and installation of local cable and junction network for GLOBE Telecom PHASE-4 in Manila and the provinces
Supply contract for OSP & optical fiber cable (BAYANTEL 40K)
Samut Prakarn wastewater management project SC-27, 28, 29

Investors’ Guide 2000

0

’90

’91

’92

’93

’94

’95

’96

’97

’98

’99

Source: The Ministry of International Trade and Industry, Secretarial Investigation and Statistics Department,“A Report on the Special Services Industry-Information Services.”

財 務 目 次
C

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n

t

成長性／収益性 Profitability/Efficiency
安全性 Stability

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従業員一人当り指標 Per Employee Data
その他の指標 Other Data

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単体損益計算書 Non-Consolidated Statements of Income (10 Years)
○

○

16

○

単体貸借対照表 Non-Consolidated Balance Sheets (11 Years)

連結の業績 Summary of Consolidated Performance

14

○

○

子会社および関連会社 Subsidiaries and Affiliated Companies

○

18
19
20
22

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○

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業界他社比較 Comparison of 6 Subconstruction Companies in Japan

17

○

23
24
○

25

Investors’ Guide 2000 13

成長性／収益性
Profitability/Efficiency

売

上

高

営業利益／営業利益率

当期純利益／当期純利益率

Net Sales

Operating Income/Operating Margin

Net Income/Net Profit Margin（十億円/billions of yen）

（十億円/billions of yen）

（十億円/billions of yen）（%）

営業キャッシュフロー
Operating Cash Flows（%）（十億円/billions of yen）

300

15

7.5

9

4.5

8

200

10

5.0

6

3.0

4

100

5

2.5

3

1.5

0

0

0

0

−4

0

0

’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00（百万円／ millions of yen, except where noted）

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

売上高 Net Sales

119,239

122,582

125,771

136,037

152,213

180,629

220,590

224,103219,764

226,146

営業利益 Operating Income

4,539

3,551

3,929

5,698

7,042

8,544

13,582

14,061

13,877

13,626

営業利益率 Operating Margin (%)

3.81

2.90

3.12

4.19

4.63

4.73

6.16

6.27

6.31

6.03

経常利益 Recurring Profit

4,871

4,261

4,157

5,785

7,150

8,882

13,83914,555

14,506

14,297

当期純利益 Net Income

2,075

1,539

1,631

2,419

3,637

3,742

6,267

7,611

5,075

5,818

当期純利益率 Net Profit Margin (%)

1.74

1.26

1.30

1.78

2.39

2.07

2.84

3.40

2.31

2.57

-1,587

447

4,674

6 60

2,061

5,413

-1,832

6,728

4,202

—※

営業キャッシュフロー Operating Cash Flows

営業キャッシュフロー：営業活動より生ずるキャッシュフロー Operating Cash Flows: Net Cash Provided by Operating Activities※営業キャッシュフローは、2000 年 3 月期より連結を基準に開示することとなり、単体での数値を作成しておりません。なお、2000 年 3 月期の連結営業キャッシュフローは 12,564 百万円となっております。
Cash flows from operating activities were not prepared on a stand-alone basis because they are to be disclosed on a consolidated basis from the fiscal year that ended in March 2000.
The cash flow from consolidated operating activities for the Fiscal year that ended in March 2000 was 12,56 4 million yen.

14

Investors’ Guide 2000

自己資本利益率［ROE］

総資産利益率［ROA］

Return on Equity (ROE)

Return on Total Assets (ROA)

Turnover of Total Assets

Turnover of Property and Equipment

（%）

（%）

（回/times）（回/times）

12

6

3

9

8

4

2

6

4

2

1

3

0

総資産回転率0

有形固定資産回転率0

0’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00（百万円／ millions of yen, except where noted）

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

総資産 Total Assets

73,192

72,15386,382

105,450

116,617

138,610

154,246

160,561

166,002

171,802

運転資本 Modified Working Capital

21,08817,174

26,902

27,26747,603

44,69342,971

57,79948,54453,279自己資本 Shareholders’ Equity

28,046

29,401

31,55639,821

56,39559,27765,096

90,101

96,635

110,400

自己資本利益率［ROE］Return on Equity (ROE) (%)

7.71

5.36

5.35

6.78

7.56

6.47

10.08

9.81

5.44

5.62

総資産利益率［ROA］Return on Total Assets (ROA) (%)

3.30

2.12

2.06

2.52

3.28

2.93

4.28

4.84

3.11

3.44

総資産回転率（回）Turnover of Total Assets (times)

1.89

1.69

1.59

1.42

1.37

1.42

1.51

1.42

1.35

1.34

有形固定資産回転率（回）Turnover of Property and Equipment (times)

19.23

13.35

10.81

9.50

9.08

8.50

8.64

8.40

7.59

6.80

運転資本＝（流動資産ー未成工事支出金）ー（流動負債ー未成工事受入金）
Modified Working Capital = (Current Assets - Accumulated Cost of Construction in Progress) - (Current Liabilities - Advances Received on Construction in Progress)
自己資本利益率［ROE］＝

当期純利益
× 100
株主資本（2 期末平均）

当期純利益
総資産利益率［ROA ］＝ 総資産（2 期末平均）× 100

Return on Equity (R OE) =Net Income
× 100
Shareholders’ Equity (Average of two year-ends)

Return on Total Assets (R OA) =’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00

Net Income
Total Assets (Average of two year-ends) × 100

売上高
総資産回転率＝
総資産（2 期末平均）
有形固定資産回転率＝Turnover of Total Assets =Net Sales
Total Assets (Average of two year-ends)

売上高
有形固定資産（2 期末平均）

Turnover of Property and Equipment =Net Sales
Property and Equipment (Average of two year-ends)

Investors’ Guide 2000 15

安全性Stability

流動比率／当座比率

固定比率／固定長期適合率

インタレスト・カバレッジ

Equity Ratio

Current Ratio/Quick Ratio

（%）

（%）

Fixed Assets-to-Equity Capital Ratio/Ratio of
Fixed Assets-to-Equity Capital and Long-Term Liabilities（倍/times）

自己資本比率Interest Coverage

（%）
75

240

60

2,400

50

160

40

1,600

25

80

20

800

0

0

0

0

’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00（%, except where noted）’96 ’97 ’98 ’99 ’00

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

自己資本比率 Equity Ratio

38.32

40.75

36.53

37.76

48.36

42.77

42.20

56.12

58.21

64.26

流動比率 Current Ratio

2 06.58204.53241.7218 0.71309.57208.28181.05230.90199.13220.44

当座比率 Quick Ratio

198.82

194.34233.85176.79304.01204.80178.57228.28195.03211.22

固定比率 Fixed Assets-to-Equity Capital Ratio

52.65

61.12

65.44

61.79

46.94

57.64

59.89

47.28

50.97

51.01

固定長期適合率 Ratio of Fixed Assets-to-Equity Capital and Long-Term Liabilities

30.92

36.60

35.18

38.03

29.59

37.11

40.25

37.76

43.59

45.61

インタレスト・カバレッジ（倍）Interest Coverage (times)

18.73

7.18

7.46

9.57

16.09

308.802,017.57

2,114.00

1,318.91

2,012.14

流動比率＝

流動資産ー未成工事支出金
× 100
流動負債ー未成工事受入金

Current R atio =Current Assets - Accumulated Cost of Construction in Progress
Current Liabilities - Advances Received on Construction in Progress

当座比率＝

現金、預金、有価証券、完成工事未収入金等
× 100
流動負債ー未成工事受入金

Quick R atio =Cash, Time Deposits, Marketable Securties and Trade Accounts Receivable
Current Liabilities - Advances Received on Construction in Progress

× 100

Property, Equipment, Investments and Other Assets
Shareholders’ Equity

× 100

固定資産
固定比率＝
× 100
株主資本

Fixed Assets-to-Equity Capital Ratio =固定資産
固定長期適合率＝ 株主資本＋固定負債 × 100

Ratio of Fixe d Assets-to-Equity Capital and Long-Term Liabilities =16

Investors’ Guide 2000

× 100

Property, Equipment, Investments and Other Assets
Shareholders’ Equity + Long-Term Liabilities

インタレスト・カバレッジ＝Interest Coverage =× 100

営業利益＋受取利息および配当金
支払利息

Operating Income + Interest and Dividend Income
Interest Expenses

一株当り指標Per Share Data

一株当り当期純利益［EPS］

一株当り自己資本［BPS］

一株当り配当金一株当り営業キャッシュフロー

Primary Earnings per Share (EPS)Book Value per Share (BPS)

Cash Dividends per Share

Operating Cash Flow per Share（円/yen）（円/yen）（円/yen）（円/yen）

90

900

15

60

60

600

10

30

30

300

5

0

0

0

’96 ’97 ’98 ’99 ’00（円／ yen, except where noted）−30

0’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3一株当り当期純利益［EPS］Primary Earnings per Share (EPS)

2 9.28

21.52

22.78

26.62

37.69

32.91

54.27

60.96

38.78

42.78

一株当り自己資本［BPS］Book Value per Share (BPS)

393.71410.95430.19428.19539.09514.90562.23690.68727.44804.86

7.00

6.00

6.00

7.25

8.00

9.75

11.75

14.25

10.00

10.00

一株当り営業キャッシュフロー Operating Cash Flow per Share-22.28

6.25

63.72

7.10

19.70

47.02

-15.82

51.57

31.63

(—) ※

発行済株式数（千株）Common Stock Issued (thousand shares)

71,23371,54473,35393,000104,612

115,123

115,781130,453

132,841

137,166

一株当り配当金 Cash Dividends per Share

一株当り当期純利益は期中平均株式数に基づき、一株当り自己資本および一株当り営業キャッシュフローは期末株式数に基づき算出しています。
Primary Earnings per Share is based on the weighted average number of shares outstanding in the respective fiscal years. The others are based on the number of shares outstanding at the end of the respective fiscal years.
※営業キャッシュフローは、2000 年 3月期より連結を基準に開示することとなり、単体での数値を作成しておりません。
Cash flows from operating activities were not prepared on a stand-alone basis because they are to be disclosed on a consolidated basis from the fiscal year that ended in March 2000.

Investors’ Guide 2000 17

従業員一人当り指標
Per Employee Data

期末従業員数

従業員一人当り売上高

従業員一人当り経常利益

従業員一人当り当期純利益

Number of Employees

Net Sales per Employee

Recurring Profit per Employee

Net Income per Employee（名/persons）（百万円/millions of yen）

（百万円/millions of yen）

（百万円/millions of yen）

3,900

75

4.5

2.4

2,600

50

3.0

1.6

1,300

25

1.5

0.8

0

0

0

’96 ’97 ’98 ’99 ’00

0’96 ’97 ’98 ’99 ’00（千円／ thousands of yen, except where noted）’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

期末従業員数（名）Number of Employees at Fiscal Year-End (persons)

3,428

3,541

3,683

3,703

3,862

3,881

3,788

3,692

3,645

3,728

従業員一人当り売上高 Net Sales per Employee

35,40435,17934,82036,83640,241

46,65657,528

5 9,92159,906

61,344

従業員一人当り経常利益 Recurring Profit per Employee

1,446

1,223

1,151

1,566

1,890

2,294

3,609

3,892

3,954

3,878

従業員一人当り当期純利益 Net Income per Employee

616

442

452

655

962

967

1,634

2,035

1,383

1,578

売上高
従業員一人当り売上高＝ 従業員数（2 期末平均）
従業員一人当り経常利益＝経常利益
従業員数（2 期末平均）

従業員一人当り当期純利益＝

18

Net Sales per Employe e =Recurring Profit per Employee =当期純利益
Net Income per Employe e =従業員数（2 期末平均）

Investors’ Guide 2000

Net Sales
Number of Employees (Average of two year-ends)
Recurring Profit
Number of Employees (Average of two year-ends)

Net Income
Number of Employees (Average of two year-ends)

その他の指標
Other Data

研究開発費

減価償却費（有形固定資産）

外国人持株比率

Capital Expenditure

Research and Development Expenditure（十億円/billions of yen）

Depreciation Charged against Property
and Equipment

Percentage of Stock Held by Foreigners（十億円/billions of yen）

（十億円/billions of yen）

（%）

設備投資額

12

0.75

1.8

21

8

0.50

1.2

14

4

0.25

0.6

7

0

0

’96 ’97 ’98 ’99 ’00（百万円／ millions of yen, except where noted）

0

0’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

設備投資額 Capital Expenditure

3,976

3,484

3,250

4,118

2,879

10,491

3,246

2,555

5,041

6,528

研究開発費 Research and Development Expenditure

500

500

500

500

500

650

650

670

660

601

減価償却費（有価固定資産）Depreciation Charged against Property and Equipment

554

800

943

914

1,063

1,321

1,468

1,503

1,377

1,188

外国人持株比率 Percentage of Stock Held by Foreigners (%)

10.97

13.73

7.46

9.84

13.78

15.80

15.77

15.80

13.46

20.14

Investors’ Guide 2000 19

単体貸借対照表（11 年間）
Non-Consolidated Balance Sheets (11 Years)（百万円／ millions of yen）
資産の部
流動資産：

ASSETS
Current Assets:

1990/3

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/318,746

現金預金

Cash and time deposits

9,873

14,925

11,100

16,631

21,64929,43425,852

21,171

26,871

21,366

有価証券

Marketable securities

1,394

2,675

1,989

5,680

11,931

12,041

17,013

15,411

17,106

11,886

15,818

受取手形・完成工事未収入金・売掛金

Notes and accounts receivable-trade

14,535

21,73818,83922,08026,146

27,581

41,67158,091

56,81762,25858,876

棚卸資産：

Inventories:
14,224

17,552

20,58019,84819,79618,924

16,97818,375

15,707

19,235

17,967

708

848

787

666

546

421

247

276

262

168

124

879

786

948

887

854

915

1,292

1,169

1,025

1,955

4,062

未成工事支出金

Accumulated cost of construction in progress

その他棚卸資産

Other

その他流動資産

Other current assets

貸倒引当金

Less: Allowance for doubtful receivables

(92)

(98)

(60)

(59)

(76)

(74)

(105)

(131)

(128)

(117)

(111)

流動資産合計

Total current assets

41,52158,42654,18365,73380,84689,242102,948

114,362

117,660

116,751

115,482

投資及びその他の資産：

Investments and Other Assets:

投資有価証券：

Investment securities:

関係会社株式

Subsidiaries and affiliates

776

803

932

969

969

1,041

1,087

1,053

1,490

1,906

2,214

その他

Other

2,637

2,614

2,588

2,369

2,524

2,526

2,263

4,985

6,293

7,435

7,442

Subsidiaries and affiliates

560

420

420

500

340

748

522

356

219

1,606

786

長期貸付金：
関係会社長期貸付金

Long-term loans receivable:

その他

Other

1,385

1,480

1,567

1,627

1,660

1,570

2,403

2,769

3,032

3,172

3,242

その他の資産Other assets

1,268

1,601

1,979

2,426

3,259

2,938

3,083

3,597

4,464

4,372

7,012

貸倒引当金

Less: Allowance for doubtful receivables

(14)

(14)

(14)

(15)

(14)

(15)

(6)

(20)

(18)

(23)

(83)

Total investments and other assets

6,612

6,904

7,472

7,876

8,738

8,808

9,352

12,740

15,48018,46820,613

投資及びその他の資産合計
有形固定資産：Property and Equipment:

土地

Land

2,103

4,527

6,485

7,771

9,711

10,092

14,696

16,32016,452

17,821

22,157

建物・構築物

Buildings and structures

2,609

2,739

3,321

4,928

5,339

7,244

10,40010,523

10,554

13,275

14,958

機械装置・運搬具及び工具器具備品

Machinery and equipment

3,982

3,858

4,598

5,054

5,109

5,812

6,855

7,709

7,887

8,207

6,184

建設仮勘定

Construction in progress

減価償却累計額

Less: Accumulated depre ciation

有形固定資産合計
繰延資産：

364

315

34

999

702

—

21

1,513

1,828

2,034

(3,62 6)

(4,221)(5,014)(5,292)(6,186)(7,137)(8,326)(9,283)(10,348)(9,626)

4,540

7,862

10,498

12,773

15,866

17,664

24,814

26,247

27,12330,78335,707

—

—

—

—

—

903

1,496

897

298

—

—

—

—

—

—

—

903

1,496

897

298

—

—

52,67373,192

72,15386,382

105,450

116,617

138,610

154,246

160,561

166,002

171,802

Deferred Charges:

社債発行差金繰延資産合計20

Total property and equipment—(4,154)

Investors’ Guide 2000

Discount on notes payable
Total deferred charges

（百万円／ millions of yen）
負債・資本の部
流動負債：
短期借入金

LIABILITI ES AND SHAREHOLDERS’ EQU ITY
Current Liabilities:
Short-term bank loans

1990/3

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

1,750

1,850

1,850

1,850

830

480

440

440

—

—

—

一年以内償還の転換社債

Current portion of convertible bonds

—

—

—

—

—

—

393

—

—

—

—

一年以内償還の社債／新株引受権付社債

Current portion of notes and notes with warrants

—

—

—

—

12,491

—

7,016

9,867

7,755

7,373

—

買掛債務：

Accounts payable:
Trade

8,885

11,413

9,171

11,277

12,493

12,57821,675

29,10826,89832,93935,473

Other

1,439

1,289

1,319

805

980

1,607

2,774

2,228

2,398

1,863

4,216

5,103

5,650

6,629

8,711

6,963

4,435

5,257

4,372

3,586

4,038

4,088

工事未払金・買掛金
未払金
未成工事受入金

Advances received on construction in progress

未払法人税等

Income taxes payable

203

1,992

1,000

1,671

2,772

2,490

3,649

6,195

3,535

3,748

2,160

従業員預り金Employees’ savings deposits

1,501

1,499

1,496

1,588

1,831

2,066

—

—

—

—

—

新株引受権

Warrants

—

—

—

—

—

1,204

2,396

2,351

1,291

917

—

その他の流動資産

Other current liabilities

813

1,743

1,593

1,792

2,386

2,290

2,934

2,827

2,277

2,132

2,387

19,69425,43623,05827,69440,74627,15046,534

57,38847,74053,01048,324

流動負債合計固定負債：

Total current liabilities
Long-Term Liabilities:

社債

Notes

—

—

—

—

—

7,755

15,12815,128

7,373

—

—

転換社債

Convertible bonds

2,034

1,388

1,004

1,004

859

444

—

10,000

9,418

9,409

9,312

新株引受権付社債

Notes with warrants—

12,491

12,491

19,506

16,883

16,883

9,867

—

—

—

—

退職給与引当金Accrued severance indemnities

5,136

5,519

5,940

6,117

6,188

6,399

6,663

6,161

5,876

5,356

379

海外投資等損失引当金

Provision for losses from overseas investments

—

—

—

—

—

—

—

—

—

1,592

1,442

その他の固定負債

Other long-term liabilities

固定負債合計

Total long-term liabilities

—

312

259

505

953

1,591

1,141

473

53

—

1,945

7,170

19,71019,694

27,132

24,88333,072

32,79931,762

22,72016,357

13,078

自己資本：

Shareholders’ Equity:

資本金Common stock

5,822

6,145

6,338

6,846

10,025

16,86916,895

17,25026,592

27,98331,141

資本準備金

Additional paid-in capital

3,072

3,395

3,587

4,092

7,259

14,096

14,122

14,521

24,904

26,66630,736

利益準備金

Legal reserve

780

823

873

923

974

1,049

1,141

1,271

1,511

1,686

1,834

剰余金

Retained earnings

16,135

17,68318,603

19,695

21,56324,381

27,11932,05437,09440,30046,68925,80928,046

29,401

31,55639,821

56,39559,27765,096

90,101

96,635

110,400

52,67373,192

72,15386,382

105,450

116,617

138,610

154,246

160,561

166,002

171,802

自己資本合計

Total shareholders’ equity

Investors’ Guide 2000 21

単体損益計算書（10 年間）
Non-Consolidated Statements of Income (10 Years)（百万円／ millions of yen）
売上高

1991/3

1992/3

1993/3

1994/3

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3
208,535

Net Sales:

完成工事高Construction contracts

106,942

109,983

113,066

124,515

139,174

165,016

205,727

208,018

203,208

その他

Other

12,297

12,59912,705

11,522

13,03915,613

14,86316,085

16,556

17,611

119,239

122,582

125,771

136,037

152,213

180,629

220,590

224,103219,764

226,146
184,300

売上原価

Cost of Sales:

完成工事原価Construction contracts

95,32698,304

100,634

109,084

122,707145,238

179,917

182,819

179,419

その他

Other

10,383

10,662

11,47910,321

11,48813,426

12,783

13,446

13,854

15,247

105,709108,966

112,113

119,405

134,195

158,664

192,700

196,265

193,273

199,547

13,53013,616

13,658

16,63218,01821,96527,89027,83826,491

26,5998,991

10,065

9,729

10,934

10,976

13,421

14,308

13,777

12,614

12,973

4,539

3,551

3,929

5,698

7,042

8,544

13,582

14,061

13,877

13,626

売上総利益
販売費及び一般管理費

Gross profits
Selling, General and Administrative Expenses

営業利益

Operating income

営業外収益（費用）

Other Income (Expenses):

受取利息配当金Interest and dividend income

875

1,255

981

993

1,053

720

541

737

631

461

支払利息

Interest expenses

(289)

(669)

(658)

(699)

(503)

(30)

(7)

(7)

(11)

その他

Other, net

(480)

(408)

(181)

(233)

(465)

(1,142)

(719)

(750)

(1,742)(7)(3,299)

106

178

142

61

85

(452)

(185)

(20)

(1,122)(2,845)

税引前当期利益

Income before Income Taxes

4,645

3,729

4,071

5,759

7,127

8,092

13,397

14,041

12,755

10,781

法人税及び住民税

Income Taxes

2,570

2,190

2,440

3,340

3,490

4,350

7,130

6,430

7,680

4,963

当期利益

Net Income

2,075

1,539

1,631

2,419

3,637

3,742

6,267

7,611

5,075

5,818

22

Investors’ Guide 2000

連結の業績
Summary of Consolidated Performance

売

上

高

当期純利益

総 資 産 ／ 自 己 資 本

一株当り当期純利益

Net Sales

Net Income

Total Assets/Shareholders’ Equity

Net Income per Share（十億円/billions of yen）

（十億円/billions of yen）

（十億円/billions of yen）

（円/yen）

300

9

210

75

200

6

140

50

100

3

70

25

0

0

’96 ’97 ’98 ’99 ’00

0

0’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00’96 ’97 ’98 ’99 ’00（百万円／ millions of yen）

1995/3

1996/3

1997/3

1998/3

1999/3

2000/3

売上高 Net Sales

158,199

184,595

221,636

225,313220,522

231,750

営業利益 Operating Income

7,306

8,737

13,733

14,34814,261

15,559

当期純利益 Net Income

4,160

4,156

6,831

8,309

5,625

6,315

総資産 Total Assets

120,941

142,765

158,839

166,067

171,669

188,961

自己資本 Shareholders’ Equity

59,34062,622

68,97994,654

101,721

115,834

一株当り当期純利益 Net Income per Share

43,13

36.54

59.15

66.55

42.97

46.73

一株当り配当 Cash Dividends per Share

8.00

9.75

11.75

14.25

10.00

10.00

（円／ yen）

Investors’ Guide 2000 23

子会社および関連会社
Subsidiaries and Affiliated Companies（百万円 /millions of yen, except where noted）
社名
Company Name

コムシステクノ株式会社
COMSYS Techno Co., Ltd.

通建機工株式会社
Tsuken Kik o Co., Ltd.

大越電建株式会社
Okoshi Denken Co., Ltd.

東京電話施設株式会社
Tokyo Denwa Shisetsu Co., Ltd.

本社
Headquarters〒 140-000 4東京都品川区南品川 2-2-7 南品川 J ビル
Minamishinagawa J Bldg., 2-2-7 Minamishinagawa, Shinagawa-ku, Tokyo 140-0004〒 108-0074 東京都港区高輪 3-24-16 ISA ビル 8 階
ISA Bldg. 8F, 3-24-16 Takanawa, Minato-ku, Tokyo 10 8-0074〒 116-0003 東京都荒川区南千住 5-13-1
5-13-1 Minamisenju, Arakawa-ku, Tokyo 116-0003〒 168-0072 東京都杉並区高井戸東 1-3 0-3
1-30-3 Takaidohigashi, Suginami-ku, Tokyo 168-0072

資本金Paid-in Capital
出資比率（%）
Percentage Owned

50

30

60

40

100.0

100.0

96.4

85.3

従業員数（名）Number of Employees

88

36

76

47

97/12

98/12

99/12

97/12

98/12

99/12

98/3

99/3

99/12

98/3

99/3

99/12

受注高
New Orders Received during the Year

2,321

2,997

2,985

1,034

1,908

1,849

3,852

3,975

2,250

2,122

2,045

1,307

売上高
Net Sales

2,242

2,742

3,106

855

1,774

2,023

3,654

3,819

2,180

2,427

2,113

1,291

当期純利益
Net Income

83

72

76

28

38

66

1

29

21

160

203

73

社名
Company Name

コムシステック株式会社
COMSYS Tec Co., Ltd.

株式会社大栄製作所
Taiei Seisakusho Co., Ltd.

東京通建株式会社
Tokyo Tsuken Co., Ltd.

日東通建株式会社
Nitto Tsuken Co., Ltd.

本社
Headquarters
資本金Paid-in Capital〒 111-0036 東京都台東区松が谷 3-12-10
3-12-10 Matsug aya, Taito-ku, Tokyo 111-0036〒 243-0807神奈川県厚木市金田 900
900 Kaneda, Atsugi City, Kanag awa 243-0807〒 150-0012 東京都渋谷区広尾 5-4-12 大成鋼機ビル 4 階
Taiseikoki Bldg. 4F, 5-4-12 Hiroo, Shibuya-ku, Tokyo 150-0012〒 108-8474 東京都港区港南 2-12-26 港南パークビル 2 階
Konan Park Bldg. 2F, 2-12-26 Konan, Minato-ku, Tokyo 108-8474

90

60

54

60

出資比率（%）
Percentage Owned

79.6

49.7

39.2

33.3

従業員数（名）Number of Employees

161

133

209

237

98/3

99/3

99/12

98/3

99/3

99/12

97/12

98/12

99/12

97/12

98/12

99/12

受注高
New Orders Received during the Year

3,461

6,461

5,704

—

5,041

2,899

11, 134

12,282

13,286

10,1908,990

10,152

売上高
Net Sales

3,751

5,407

4,114

5,841

4,997

2,929

12,217

11,712

13,505

11,317

8,574

9,778

当期純利益
Net Income

87

9

-143

205

94

11

814

703

583

804

298

310

注）大越電建 （株）、東京電話施設（株）、コムシステック（株）、（株）大栄製作所は決算期を 1999 年度より 3 月 31日から 12 月 31 日に変更したため、会計期間は 9ヶ月間となっております。
当期純利益については税効果会計適用前の数字であります。
Okoshi Denken Co., Ltd., Tokyo Denwa Shisetsu Co., Ltd., CO MSYS Tec Co., Ltd., and Taiei Seisakusho Co., Ltd., changed their accounting periods to end on Decemb er 31. Accordingly, data for the current term cover the nine-month period from March 31,
1999 through December 31, 1999.
Net income figures are prior to the application of deferred tax accounting.

24

Investors’ Guide 2000

業界他社比較
Comparison of 6 Subconstruction Companies in Japan（百万円／ millions of yen）

売上高 Net Sales
1998/3
日本コムシス
Nippon CO MSYS
協和エクシオKYOWA EXEO
大明DAIMEI TELECOM ENG INEER ING
NEC システム建設
NEC System Integration & Construction
関電工
KANDE NKO
きんでん
KINDE N

1999/3

224,103219,76 4

226,146

210,45 4

218,56 4

20 4,989

91,207 ＊51,98 4 ＊101,959

223,728

223,84 8

203,771555,934

547,993502,6 81585,310560,752

523,699

経常利益 Recurring Profit
日本コムシス
Nippon CO MSYS
協和エクシオKYOWA EXEO
大明DAIMEI TELECOM ENG INEER ING
NEC システム建設
NEC System Integration & Construction
関電工
KANDE NKO
きんでん
KINDE N

（百万円／ millions of yen）
1998/3

1999/32 000/3

14,555

14,50 6

14,297

9,085

10,29 6

10,4243,330 ＊

2,59 6 ＊

5,151

5,523

6,42 4

5,312

18,483

16,591

12,53432,95632,238

2 4,540（百万円／ millions of yen）

当期純利益 Net Income
日本コムシス
Nippon CO MSYS
協和エクシオKYOWA EXEO
大明DAIMEI TELECOM ENG INEER ING
NEC システム建設
NEC System Integration & Construction
関電工
KANDE NKO
きんでん
KINDE N

1998/3

1999/32 000/3

7,611

5,075

5,818

4,002

3,611

1,850

1,332 ＊

9 04 ＊

2,297

2,492

2,852

1,113

9,23 4

8,102-16,950

16,52 6

14,40 812,378（百万円／ millions of yen）

営業利益 Operating Income

2 000/3
日本コムシス
Nippon CO MSYS
協和エクシオKYOWA EXEO
大明
DAIM EI TELECOM ENGI NEERI NG
NEC システム建設
NEC System Integration & Construction
関電工
KANDENKO
きんでん
KINDEN

19 98/3

19 99/3

2000/314,061

13,877

13,626

9,108

11,028

10,3183,228 ＊

2,958 ＊

5,512

5,560

7,463

5,2 9017,543

15,844

11,70133,90332,307

25,8 05

一株当り当期純利益 Net Income per Share（円／ yen）

19 98/3

19 99/3

2000/3

61.0

3 8.8

42.8

37.5

33.8

17.3

34.8 ＊

23.6 ＊

56.5

5 8.9

6 6.8

2 6.1

45.0

3 9.5

−

62.1

5 4.2

46.5

日本コムシス
Nippon CO MSYS
協和エクシオKYOWA EXEO
大明
DAIM EI TELECOM ENGI NEERI NG
NEC システム建設
NEC System Integration & Construction
関電工
KANDENKO
きんでん
KINDEN（%）

自己資本利益率（ROE） Return on Equity
日本コムシス
Nippon CO MSYS
協和エクシオKYOWA EXEO
大明
DAIM EI TELECOM ENGI NEERI NG
NEC システム建設
NEC System Integration & Construction
関電工
KANDENKO
きんでん
KINDEN＊大明は 1998 年度までは 9 月決算、1999 年度より 3 月決算に変更しています。 そのため上記、1999/3 については 6ヶ月間の決算数値になっています。
DAI MEI TELECOM ENGINEERING changed the end of its fiscal year from September to March as of fiscal 1999. Accordingly, the company’s fiscal year that ended in March 1999 is a period of only six months.
出典：有価証券報告書、会社情報、決算短信 Source: Company business reports, company data by Nikkei, company newsletters

19 98/3

19 99/3

2000/3

9.81

5.44

5.62

9.06

7.62

3.74

7.04 ＊

−＊

9.84

5.92

6.28

2.36

5.60

4.73

-9.69

5.85

4.89

4.01

Investors’ Guide 2000 25

日本コムシスグループ
Nippon COMSYS Group

日本コムシスグループは、日本の通信建設業界をリードする企業グループとして関東を中心に全国をくまなくネットワークしています。NTT グループの発注業務が責任施工方式に変更されて以来、技術力とコスト競争力を中心とした総合力が問われる時代になってきており、NTT以外の通信事業者も含め多様で高度化するニーズにお応えできる体制を整備しています。大宮の技術研修センターで最新システムを用いた研修、人材交流を活発化し、技術者育成や工事技術全般の底上げを図り、さらなる総合強化に取り組んでいます。また、工事原価の 7割を占める協力会社に対する外注費をより効率的なものにし、コスト競争力を高め、他社との競争に勝ち抜き、受注を拡大していくために、グループの再編を進めています。そして、コムシスが誇る業界一の効率的な施工体制をさらに推進し、グループ全体で業務、施工管理の標準化を進めてまいります。
1

The Nippon C OMSYS Group is the leading group in the telecommunications engineering field in Japan. The group has a nationwide network centeredin the Kanto reg ion. Since the NTT Group has changed its ordering system to full responsibility for the constructor, comprehensive capabilities in23

te chnological expertise and cost-competitiveness have be come the main factors behind contractors winning orders. Thus, the C OMSYS Group isreadjusting its existing systems to meet diverse and high-level demands from NTT and non-NT T carriers. The education and training center at Omiya
offers engine ers training programs with the newest systems, upgrades their technical proficiency, and promotes personnel exchanges among

27

traine e engineers. The center helps to strengthen the comprehensive capabilities of the Group. In addition, the COMSYSGroup is pursuing more effective cost performance to maintain its competitive advantage by reducing
outsourcing fe es to subcontractor firms. These fees account for 70% of the construction

17

14
16

2

15

costs for the consolidated group. Our efforts are bearing fruit, which will3

ensure us a competitive edge and increasing sales. The COMSYS Groupwill continue to maintain and promote the most effective operating
structure in the industry and encourage the group-widestandardization of operation and construction management.

26

Investors’ Guide 2000

18 19

22

29
20

21

12
13

4

5

6

7

8

9

10

11

24

25

26

28

30

31

全国をもれなくネットする日本コムシスグループ

Nippon COMSYS Group’s Nationwide Networking

コムシスグループは、屋外での通信工事を施工する所外系の会社を中心に、局内など所内系の会社、さらにはソフトウェア会社、メーカー、リース、商社、海外法人と、コムシス
グループは大きく事業を発展させてまいります。

業種

Business Categoryq 所外系

Outside Projects

w 所外系

Outside Projects

e 所外系

Outside Projects

r 所外系

Outside Projects

t 所外系

Outside Projects

y 所外系

Outside Projects

u 所外系

Outside Projects

i 所外系

Outside Projects

o 所外系

Outside Projects!0 所外系

Outside Projects!1 所外系

Outside Projects!2 所外系

Outside Projects!3 所外系

Outside Projects!4 所外系

Outside Projects!5 所外系

Outside Projects!6 所外系

Outside Projects!7 所外系

Outside Projects!8 所外系

Outside Projects

本社所在地

社名

Location of Headquarters
青森県

Company Name（株）江渡工業社

Aomori

Eto Kogyo Co., Ltd.

栃木県

コムシス関東北エンジニアリング（株）

Tochigi

COMSYS Kanto Kita Engineering Co., Ltd.

埼玉県（株）ジンワSaitama

Jinwa Co., Ltd.

東京都

大越電建（株）Tokyo

Okoshi Denken Co., Ltd.

東京都

通建機工（株）Tokyo

Tsuken Kiko Co., Ltd.

東京都

東京電話施設（株）

Tokyo

Tokyo Denwa Shisetsu Co., Ltd.

東京都

日新電話設備（株）

Tokyo

Nisshin Denwa Setsubi Co., Ltd.

東京都

日豊建設工業（株）

Tokyo

Nippo Kensetsu Kogyo Co., Ltd.

東京都（株）サンヨTokyo

Sanyo Co., Ltd.

東京都

コムシステック（株）

Tokyo

COMSYS Tec Co., Ltd.

東京都

国際電設（株）Tokyo

Kokusai Densetsu Co., Ltd.

神奈川県

通信電設（株）

Kanagawa

Tsushin Densetsu Co., Ltd.

神奈川県

旭通信（株）

Kanagawa

Asahi Tsushin Co., Ltd.

長野県（株）シーアールティ

業種

Business Category!9 所外系

Outside Projects@0 所外系

Outside Projects@1 所外系

Outside Projects@2 所外系

Outside Projects@3 所外系

Outside Projects

The Nippon COMSYS group companies form a nationwide network of COMSYS
business. Though the business centers on contractors for field telecommunications work outside customer facilities, a substantial portion is also devoted tocontractors for similar in-office telecommunications work. The Comsys groupwill continue to develop business with software firms, equipment makers, leasing
firms, trading companies, and subsidiaries, and affiliates overseas.

本社所在地

社名

Location of Headquarters
大阪府

Company Name
新大阪通建（株）

Osaka

Shin Osaka Tsuken Co., Ltd.

大阪府

コムシス関西エンジニアリング（株）

Osaka

COMSYS Kansai Eng ineering Co., Ltd.

徳島県

徳島通信建設（株）

Tokushima

Tokushima Tsushin Kensetsu Co., Ltd.

福岡県

コムシス九州エンジニアリング（株）

FukuokaCOMSYS Kyushu Engineering Co., Ltd.

沖縄県

琉球通信工事（株）

Okinawa

Ryukyu Tsushin Koji Co., Ltd.

@4 所内系

東京都

東京通建（株）

Tokyo

Tokyo Tsuken Co., Ltd.

@5 所内系

東京都

日東通建（株）

Tokyo

Nitto Tsuken Co., Ltd.

@6 所内系

東京都

コムシスネット（株）

Tokyo

COMSYS Net Corporation@7 ソフト

宮城県

コムシス東北テクノ（株）

MiyagiCOMSYS Tohoku Techno Co., Ltd.

@8 ソフト

東京都

コムシステクノ（株）

SoftwareTokyo

COMSYS Techno Co., Ltd.

@9 メーカー

神奈川県（株）大栄製作所

Inside Projects
Inside Projects
Inside Projects
SoftwareKanagawa

Taiei Seisakusho Co., Ltd.

#0 リースManufacturer

東京都

コムシス通産（株）

Tokyo

COMSYS Tsusan Co., Ltd.

#1 商社

東京都

コムシスビジネスサービス（株）

Tokyo

COMSYS Business Service Co., Ltd.

Leasing Company
Trading Company

NaganoCRT Co., Ltd.

長野県（株）小田中通信

フィリピン

NaganoOdanaka Tsushin Co., Ltd.

Philippines

COMSYS Philippines, Inc.

長野県

コムシス信越エンジニアリング（株）

マレーシア

CMC エンジニアリング（株）

NaganoCOMSYS Shinetsu Engineering Co., Ltd.

Malaysia

CMC Engineering SDN. BHD.

新潟県

日本海通信建設（株）

タイ

タイコムシス＆ジャクソン（株）

NiigataNihonkai Tsushin Kensetsu Co., Ltd.

ThailandThai COMSYS & Jackson Co., Ltd.

大阪府

八代通信建設（株）

タイ

タイ通信エンジニアリング（株）

Osaka

Yashiro Tsushin Kensetsu Co., Ltd.

ThailandThai Telecommunications Engineering Co., Ltd.

コムシスフィリピン（株）

Investors’ Guide 2000 27

投資情報
Investor Information

会計年度末2000 年 3 月 31 日

Fiscal Year-End

March 31, 2000

年次株主総会

2000 年 6 月 29 日

Annual Shareholders' Meeting

June 29, 2000

Common Stock

Authorized: 249,665,000 shares (As of March 31, 2000)

発行済普通株式

Issued: 137,166,252 shares (As of March 31, 2000)

会社が発行する株式の総数

249,665,000 （2000 年 3 月 31日現在）

発行済株式数

137,166,252 株 （2000 年3 月 31 日現在）

Number of Shareholders

6,445 (As of March 31, 2000)

株主数

6,445 名 （2000 年 3 月31 日現在）

Date of Listing

July 1962

株式上場日

1962 年7 月

Stock Exchange ListingFirst Section of Tokyo Stock Exchange and Osaka Securities Exchange

上場証券取引所

東京証券取引所第一部・大阪証券取引所第一部

Transfer Agent

The Mitsubishi Trust and Banking Corporation Securities Department

名義書換代理人

三菱信託銀行株式会社 証券代行部

AuditorO-Yu Kyodo Office〒 100-0005 東京都千代田区永田町二丁目 11 番 1 号
監査人

桜友共同事務所

大株主（上位 10 社）の状況

Ten Largest Shareholders

株主名 Company Name

28

当社への出資状況

株主名 Company Name

当社への出資状況
持株数

持株比率

古河電気工業株式会社
The Furukawa Electric Co., Ltd.

5,166 千株

3.76％

5.84

東洋信託銀行株式会社信託勘定 A 口
The Toyo Trust and Banking Co., Ltd. (Trust Account)

3,002

2.18

6,160

4.49

日本生命保険相互会社
Nippon Life Insurance Company

2,839

2.07

株式会社フジクラ
Fujikura Ltd.

5,212

3.80

ザ・チェースマンハッタンバンクエヌエイロンドン
The Chase Manhattan Bank, N.A. London

2,508

1.82

住友電気工業株式会社
Sumitomo Electric Industries, Ltd.

5,166

3.76

シティトラスト信託銀行株式会社信託口
Cititrust and Banking Corporation (Trust Account)

2,425

1.76

持株数

持株比率

三菱信託銀行株式会社信託口
The Mitsubishi Trust and Banking Corp. (Trust Account)

9,357 千株

6.82％

住友信託銀行株式会社信託口
The Sumitomo Trust and Banking Co., Ltd. (Trust Account)

8,019

日本生命保険相互会社特別勘定年金口
Nippon Life Insurance Company (Pension Trust Account)

Investors’ Guide 2000

会社概要
Corporate Data

会社概要
商号
住所

創立
資本金
株式
代表者
従業員数
売上高

日本コムシス株式会社〒 10 8-8610 東京都港区高輪 3-23 -14
TEL 0 3-3 448-7 000
FAX 03-34 48-7001
1951 年 12 月
311 億 4,051 万円（200 0 年 3 月末現在）
東証・大証一部上場
代表取締役社長 武内宏允
3,728 名 （200 0 年 3 月末現在）
2,261 億円（2 00 0 年 3月期）

事業内容
電気通信設備事業●通信線路工事（光ケーブル等の敷設、電話線の地
中化等）●通信土木工事（地下管路敷設、マンホール築造、
とう道工事等）●交換設備工事（デジタル式電話交換機等の設備
工事等）●伝送無線工事（デジタル・マイクロ通信設備工事
等）●移動通信工事（移動無線基地局設備工事等）
電気設備事業●通信用電源設備工事（変電、発電、蓄電池設備）●一般電気設備工事
土木関連事業●一般土木工事●電線共同溝（C・C・BOX）工事●上・下水道設備工事
●土地造成
●測量
建築・不動産関連事業●建築、建築付帯設備工事●土地・建物の売買および仲介●パイプライニング

情報関連事業●各種ソフトウェアの開発、受託、販売●情報処理技術者の派遣●インテリジェントビル・システムの企画、設計、施工、保守●情報通信システム（LAN、CAT V 等）の受託、構築● PBX を核としたネットワークシステムの受託、構築、保守●システムインテグレーション

営業ネットワーク
本社
西日本本社
支店
北海道支店／東北支店／秋田支店／福島支店／関東
南支店／関東中支店／栃木支店／信越支店／新潟支
店／東海支店／北陸支店／関西支店／中国支店／四
国支店／高松支店／九州支店／沖縄支店
駐在事務所
バンコク駐在事務所
営業所
東北エリア
青森／盛岡／横手／秋田県北／大曲／山形
関東エリア
浦和／川越／熊谷／小山／水戸／土浦／高崎／越谷／千葉／浦安／千代田／新宿／世田谷／中野／杉並／荒川／板橋／足立／江戸川／多摩／川崎／横須賀／湘南／座間中部エリア
上越／長岡／福井／富山／甲府／松本／東信／木曽／静岡／上田近畿エリア
北大阪／東大阪／南大阪／神戸／京都
中国エリア
岡山／松江／山口／鳥取
四国エリア
南堀端／高知／徳島／
九州エリア
北九州／熊本／大分／鹿児島

Corporate Profile
Trade Name
Address
Telephone
Facsimile
Establishment
Paid-in Capital
Stock Listings
Representative
Number of Employees
Net Sales

Nippon COMSYS Corporation
23-14, Takanawa 3-chome, Minato-ku,
Tokyo 108-8610, Japan
81(3)3448-7000
81(3)3448-7001
December 1951
¥31,140 million
Common Stock-Tokyo, Osaka
President
Hironobu Takeuchi
3,728¥226,146 million

Businesses
Telecommunications Facilities Business● Cable works (optical fiber cable laying, burying
telephone lines, etc.)● Civil engineering works (underground conduit lines,
manholes and cable-tunnel construction, etc.)● Switching works (digital telephone switch-boards, etc.)● Transmission wireless works (digital/micro communications
facilities, etc.)● Mobile communications works (mobile wireless basestations, etc.)
Electric Facilities Business● Communications power supply works(transformer, generation, and storage-battery facilities)● General electrical facilities works
Civil Engineering-Related Business● General civil engineering works● Construction of multi-use underground cable conduit
facilities (CÅECÅEBOX)● Water supply and sewage facilities works● Land development● Surveying
Building Construction and Real Estate-Related Business● Building construction and ancillary facilities works● Land sales, purchase and intermediation● Piping works

Information-Relate d Business● Development, commissioning and sales of all typesof software● Dispatch of data processing engineers● Planning, design, construction and maintenance ofintelligent buildings and systems● Commissioning and construction of data communications
systems (LAN, C ATV, etc.)● Commissioning, construction and maintenance of
network systems, centere d on PBX● Systems integrator
Sales Network
Head OfficeWestern Japan Headquarters
Branches
Hokkaido/Tohoku/Akita/ Fukushima/Kantominami/
Kantonaka/Tochigi/Shinetsu/Niigata/Tokai/Hokuriku/Kansai/
Chugoku/Shikoku/Takamatsu/Kyushu/Okinawa
Overseas
B angkok Liaison Office
Sales Offices
Tohoku Area
Aomori/Morioka/Yokote/Akitakenhoku/Oomagari/Yamagata
Kanto Area
Ura wa/Kawagoe/ Kumagaya/Oyama/ Mito/Tsuchiura/
Takasaki/Koshigaya/Chib a/ Urayasu/Chiyoda/Shinjuku/
Setag aya/Nakano/Suginami/Arakawa/Itabashi/Adachi/
Edog awa/Tama/Kawasaki/Yokosuka/Shonan/Zama
Chubu Area
Joetsu/ Nagaoka/Fukui/Toyama/ Kofu/Matsumoto/Toshin/
Kiso/ Shizuoka/Ueda
Kinki Area
Kita Osaka/Higashi Osaka/Minami Osaka/Kob e/Kyoto
Chugoku Area
Okayama/Matsue/Yamaguchi/Tottori
Shikoku Area
Minami Horitan/Kochi/Tokushima
Kyushu Area
Kita Kyushu/ Kumamoto/Oita/Kagoshima

Investors’ Guide 2000 29

URL http://www.comsys.co.jp

The Eco mark of JEA

再生紙を利用しています。
Printed in Japan on recycled paper approvedby the Japan Environment Association (JEA)