CHRONICLE

Listing of shares on the Tokyo Stock Exchange—the first in the industry

Through a sharp increase in the number of orders received together with the postwar economic restoration, financing accompanying large-scale construction work and mechanization became a significant issue. Due to the changes of the business environment, we decided to go public in 1956, making us the first corporation to do so in the construction industry. Prior to going public, Tokuji MIZUSHIMA who was our managing director at the time, sent the following message to the employees: “When our shares have been made public, all elements of corporate ups and downs and back and forth movement will be reflected in the stock price. We will disgrace ourselves in public unless we work hard and make our corporation better while being more cautious and avoiding rash behavior. Therefore, we will no longer be as relaxed as we have been to date. In this regard, the listing of shares is also of significance.” After going public, other construction companies began to do the same in succession.