Company changes name to TOA Corporation and set up new civil engineering and architectural divisions
In December 1973, TOA Kowan Kogyo took the first step in the process of evolution to a general construction company by inheriting goodwill from Tomeoka-gumi. The Company then changed its name to TOA Corporation and adopted a new corporate logo and standardised colour scheme as part of an overall image transformation.
HISTORY
Successes and failures overseas
With the establishment of the Overseas Department (now the International Division) in 1963, the Company began looking to expand outside Japan, particularly into Singapore. In 1976, TOA Corporation was awarded a contract worth ¥29.9 billion for construction of Changi International Airport. At the time, it was the largest overseas project ever undertaken by a Japanese construction company.
In 1972, TOA Corporation set its sights on the Middle East and in 1976, the Company had won a major contract for construction of the industrial port facility at Khor Al-Zubair in Iraq. At ¥33.4 billion, this was the biggest project ever undertaken by the Company. However, the Company was later forced to withdraw from the region following the Iranian revolution and the outbreak of the Iran-Iraq war in September 1980.
HISTORY
Company-wide restructuring programme
Following substantial losses sustained in the term ending March 1981, mainly as a result of unprofitable overseas operations, the Company launched an ambitious three-year recovery programme called Katsu in April 1981, predicated on a stronger focus on domestic projects and fast-tracking of loss-making overseas projects. The programme objectives were achieved a full year ahead of schedule, with dividend distribution resuming in the March 1983 period.
The next three-year programme, Tou, launched in 1984, was designed to weather the climate of cut-throat competition for orders in a shrinking marketplace during the so-called gconstruction winterh.
HISTORY
Domestic demand started rising with major projects on the horizon
In 1987, the government of Japan announced a comprehensive initiative to stimulate domestic demand, including a six trillion yen economic stimulus package and deregulation reforms. These brought immediate benefits to the construction industry. TOA Corporation was engaged on a number of major national infrastructure projects including expansion of Haneda Airport, construction of bridges to Shikoku, development of the Kansai International Airport and construction of Trans-Tokyo Bay Highway, as well as construction of power stations for energy utilities and other projects in the energy sector.
HISTORY
TOA Corporation survives the latest downturn to celebrate its centenary
The collapse of the bubble economy in the early 1990s plunged the Japanese economy into a prolonged downturn. Public sector construction investment was significantly curtailed after 2001, causing major shifts in the construction industry.
TOA Corporation, already cognizant of the need to reduce its reliance on domestic public works projects, has been aggressively pursuing construction contracts in the private sector as well as overseas projects, particularly in Southeast Asia, where demand remains strong. In 2008, the Company celebrated the 100th anniversary of founding.
HISTORY