JAFEC USA Turns Profitable on a Full-Year Basis

「Key profit and loss information, etc. ① Revenue　　　¥6,519 million ② Ordinary profit　　　 ¥398 million ③ Net income　　 ¥398 million」

「We will continue working to maintain stable performance with the aim of remaining profitable.」

「Key profit and loss information, etc. ① Revenue　　　¥2,784 million ② Ordinary profit　　　 ¥35 million ③ Net income　　 ¥35 million」

「Meanwhile, at JAFEC USA,Inc., the U.S. subsidiary, the amount of the loss declined because of test construction for the ground improvement project at an LNG processing plant site,」

「Meanwhile, at the U.S. subsidiary, construction profit declined significantly because of lower revenue, resulting in a loss-making operation.」

「However, at JAFEC USA,Inc., the U.S. subsidiary, construction on the planned large-scale project continued to be suspended for ecological and environmental protection reasons, causing indirect costs to be incurred ahead of schedule,」

「However, at JAFEC USA,Inc., the U.S. subsidiary, indirect costs were incurred ahead of schedule because construction was suspended for ecological and environmental protection reasons,」

「However, at the U.S. subsidiary, the company worked to cut expenses in anticipation of a significant decline in revenue, but nevertheless operated at a substantial loss.」

「Meanwhile, at the U.S. subsidiary, construction profitability deteriorated because of work stoppages caused by natural disasters and the novel coronavirus disease, but the company reduced indirect expenses and yard costs and reviewed its staffing, maintaining its initial operating profit plan.」

「Meanwhile, at the U.S. subsidiary, construction volume remained sluggish because of work stoppages caused by natural disasters and other factors, but the company maintained its plan for profit by reducing indirect costs and other expenses.」

「Although the domestic branches' strong order intake and construction progress enabled the company to record ordinary profit of ¥254 million in the non-consolidated results, consolidated ordinary loss was ¥4 million because indirect costs and other expenses at JAFEC USA,Inc. in the United States were incurred ahead of schedule」

「Meanwhile, at the U.S. subsidiary, earnings fell significantly below expectations as construction delays caused by the impact of the coronavirus disease led to higher construction overhead costs.」

「In addition to focusing orders on profitability, reviewing its construction structure, and cutting selling, general and administrative expenses, the U.S. subsidiary also benefited from collecting previously unpaid construction payments, reducing the amount of its loss.」

「At the domestic branches, some construction orders were postponed, but progress on large-scale construction projects was smooth, enabling the company to increase profits. At the U.S. subsidiary, progress in collecting construction payments arising from changes in contract terms also contributed to reducing the size of the loss.」

「At the U.S. subsidiary, the company worked to reduce the size of its loss by focusing orders on profitability, reviewing its construction structure, and cutting selling, general and administrative expenses.」

「Meanwhile, the U.S. subsidiary worked to reduce the size of its loss by focusing orders on profitability, reviewing its construction structure, and cutting selling, general and administrative expenses.」

「In terms of profit, JAFEC USA,Inc.'s construction profitability at the U.S. subsidiary fell significantly short of plan, resulting in a loss, making the establishment of stable earnings power an issue going forward.」

「In addition, JAFEC USA,Inc., the U.S. subsidiary, recorded its first full-year profit since entering the U.S. market and made a significant contribution to the group's profits.」