**Construction Industry:** approx. 70%
**Real Estate:** approx. 15%
**Environmental Technology and Other Services:** approx. 15%

**TOP 3 Markets:**
**Japan:** approx. 60%
**USA:** approx. 20%
**Asia (excluding Japan):** approx. 10%

Obayashi Corporation is one of the leading construction companies in Japan and generates the majority of its revenues from the construction industry. Within Japan, the company achieves the largest share of revenue, attributed to its strong market position and numerous infrastructure projects.

In the USA, Obayashi also has a significant presence, particularly through investments in large construction projects and partnerships. The Asian market, outside of Japan, is also growing as the company expands its international activities.

**Production Sites:** Japan, USA, Asia-Pacific Region

Obayashi Corporation is a leading construction company headquartered in Japan. The company produces and carries out construction projects mainly in Japan, but also has significant activities in the USA and the Asia-Pacific region.

In the USA, Obayashi is active through its subsidiaries and participates in major infrastructure projects. In the Asia-Pacific region, the company is continuously expanding to benefit from the growing demand for construction projects in these emerging markets.

**Revenue Growth:** Estimated at 3-5% annually (2025-2027)

**Focus on Sustainability:** Increasing investments in green construction projects

**International Expansion:** Strengthening presence in Asia and North America

Obayashi Corporation is pursuing a strategy aimed at sustainable growth and international expansion. The company plans to increase its investments in environmentally friendly and sustainable construction projects to meet the growing demands for environmentally conscious building. This includes both the development of new technologies and the implementation of energy-efficient construction practices.

In addition, Obayashi is focusing on expanding into international markets, particularly in Asia and North America. Through strategic partnerships and acquisitions, the company aims to expand its market share in these regions and benefit from the infrastructure development there.

This strategy is intended not only to promote revenue growth but also to strengthen Obayashi's position as a leading construction company in the global market.

**Main Imported Raw Materials:** Steel, Cement, Wood, Aluminum

**Countries of Origin:**
- **Steel:** China, South Korea
- **Cement:** Vietnam, Thailand
- **Wood:** Canada, Russia
- **Aluminum:** Australia, India

Obayashi Corporation imports a variety of raw materials necessary for its construction projects. Steel and cement are particularly important as they are needed in large quantities for both high-rise and civil engineering projects. China and South Korea are leading exporters of steel, while Vietnam and Thailand are significant suppliers of cement.

Wood is mainly imported from Canada and Russia, as these countries have extensive forest resources and can provide high-quality construction timber. Aluminum, another important material, is sourced from Australia and India, both of which have large bauxite deposits and are significant aluminum producers.

These import structures enable Obayashi to source high-quality materials at competitive prices, which is crucial for maintaining their construction projects.

**Market share in Japan:** Approximately 10% (2024)
**Revenue:** 2.2 trillion yen (2024)
**EBITDA margin:** 8.5% (2024)

Obayashi Corporation is one of the leading construction companies in Japan and holds a significant market share of around 10% in the domestic market. This gives the company a solid competitive advantage, especially in a market dominated by a few major players.

The revenue strength of 2.2 trillion yen in 2024 demonstrates the company's ability to acquire and execute large and complex construction projects. The EBITDA margin of 8.5% indicates an efficient cost structure and operational excellence, which are crucial factors for a competitive advantage in the construction industry.

Furthermore, Obayashi benefits from its international presence, particularly in the USA and Asia, which reduces risk through diversification and provides additional growth opportunities. The continuous investment in sustainable construction practices and innovative technologies also strengthens the company's market position and long-term growth potential.

**Institutional Investor Share:** 45% (2025, estimated)
**Insider Buys/Sells:** No significant transactions reported (2025, estimated)

The institutional investor share in Obayashi Corporation is estimated to be around 45%. This demonstrates the confidence of major investors in the company's stability and growth potential.

In 2025, no significant insider buys or sells were reported. This could indicate that the management and other insiders are satisfied with the current company strategy and market value.

These estimates are based on trends from previous years and the typical holdings of institutional investors in large Japanese construction companies.

**Market share of Obayashi Corporation:** Estimate 10% (2025, construction and engineering in Japan)

**Main competitors and their market shares:**
1. **Kajima Corporation:** Estimate 12% (2025)
2. **Shimizu Corporation:** Estimate 11% (2025)
3. **Takenaka Corporation:** Estimate 9% (2025)
4. **Taisei Corporation:** Estimate 8% (2025)
5. **Obayashi Corporation:** Estimate 10% (2025)
6. **Daiwa House Industry:** Estimate 7% (2025)
7. **Sekisui House:** Estimate 6% (2025)

**Moat of Obayashi Corporation:**

Obayashi Corporation has a moderate moat, mainly characterized by its long-standing experience, technological expertise, and strong customer relationships. The company is known for its ability to efficiently manage complex construction projects, giving it a certain competitive advantage.

Compared to its competitors, Kajima Corporation may have a stronger moat due to its larger market share and diversified international presence. Shimizu Corporation and Takenaka Corporation are also well-positioned, particularly due to their innovation capabilities and sustainable construction practices.

Obayashi needs to continue investing in technological innovations and international expansion to strengthen its moat and compete against its rivals.

**Revenue Growth:** 3.5% (2024)
**Profit Growth:** 4.2% (2024)
**Backlog:** 2.8 trillion yen (2024)

Obayashi Corporation achieved moderate revenue growth of 3.5% in 2024, indicating stable demand in the construction and engineering sector. The 4.2% profit growth shows that the company was able to increase its efficiency, which is positive for profitability.

The backlog of 2.8 trillion yen indicates a solid pipeline of future projects, which bodes well for revenue stability in the coming years. This metric is particularly important in the construction industry as it reflects future business activity and growth potential.

Additionally, Obayashi has been investing in sustainable construction projects and technologies in recent years, which could lead to a stronger market position in the long term. This strategic direction could make the company more resilient to economic fluctuations.

Overall, Obayashi Corporation appears to be a potentially good investment due to its stable financial performance and strategic investments in sustainable technologies. However, investors should also consider external factors such as economic conditions and regulatory changes in the construction industry.

**Dividend Yield:** 2.5% (2025, estimated)
**Dividend History:** Stable payout over the last 5 years

Obayashi Corporation has been paying out a consistent dividend in recent years, indicating a reliable dividend policy. The estimated dividend yield for 2025 is around 2.5%, which is competitive compared to other companies in the construction industry.

The reliability of the dividend is supported by the company's solid financial performance, including stable revenues and profits. This allows Obayashi to distribute dividends to its shareholders even in economically challenging times.