Second-quarter results for the fiscal year ending March 2027 from the 5 major general contractors are now in, with Obayashi Corporation making particularly significant upward revisions to its sales and profit forecasts. Changes in each company’s consolidated earnings forecasts and rankings were notable. The sales gap with Kajima Corporation and the year-on-year growth at the other companies were also presented.
The second-quarter earnings releases for the fiscal year ending March 2027 from the 5 major general contractors based in Tokyo and Osaka are now in, with preliminary figures disclosed for the 4 listed companies, excluding the unlisted Takenaka Corporation. The main points of interest this time were Obayashi Corporation’s significant upward revision and the large differences in sales and operating profit in the consolidated earnings forecasts for the fiscal year ending March 2027.
Obayashi Corporation announced consolidated forecasts for the fiscal year ending March 2027 of sales of ¥3,115,000 million and operating profit of ¥205,000 million, both increased from its previous forecasts. Point-in-time data as of 13 November 2026 also showed sales of ¥3,115,000 million and operating profit of ¥205,000 million, indicating that Obayashi Corporation is expected to overtake Kajima Corporation in sales and rank first.
Among the other forecasts for the fiscal year ending March 2027, Kajima Corporation expects sales of ¥2,900,000 million and operating profit of ¥234,000 million, while Taisei Corporation expects sales of ¥2,420,000 million and Shimizu Corporation ¥2,380,000 million. As Takenaka Corporation is unlisted, it does not disclose quarterly results, and its interim results are used for reference. Forecasts for Haseko Corporation and Infroneer Holdings Inc. are also listed.
Compared with the results for the fiscal year ended March 2026, Kajima Corporation remains near the top, as it did in the previous fiscal year, while the growth in Obayashi Corporation’s forecast for the fiscal year ending March 2027 is particularly pronounced. The comparison with actual results for the fiscal year ended March 2026 and forecasts as of the same point in time also shows that Obayashi Corporation made a significant upward revision.