0TOYO CONSTRUCTION I INTEGRATED REPORT 2024 (Year)Civil engineering is integral for developing social infrastructure across many fields, including port development and river improvement. Marine construction requires a different level of expertise than civil engineering onshore does. Toyo Construction’s long track record in this specialized branch of civil engineering is a major strength. The Philippines bears the brunt of an extremely high number of natural disasters, and large-scale river constructions are being implemented one after another to help mitigate the risk of major flooding caused by frequent typhoons and heavy rains. Toyo Construction has been involved in infrastructure improvement in the Philippines, including most recently an order for Phase IV of the Pasig-Marikina River Channel Improvement Project in Metro Manila in June 2024, after completing work on Phase II and Phase III of the project. Toyo Construction will continue to build a presence through business activities deeply rooted in the local community and contribute to the social and economic development of the Philippines. While our emphasis had been on ODA projects, we will be accelerating our entry into the private sector to take advantage of heightened activity in port development and renewable energy initiatives through private-sector investment.In the Philippines, we maintain a presence in building construction through CCT CONSTRUCTORS CORPORATION (CCT), one of our overseas subsidiaries. This local representative is soon to mark its 50th anniversary. CCT boasts a track record highlighting construction of about 300 buildings, including factories and warehouses for Japanese as well as U.S. and European companies and local businesses, and has established itself as the No. 1 Japan-affiliated general contractor in the Philippines. In addition, CCT prioritizes local hiring, having recruited more than 300 employees from within the community. The company enjoys the trust of clients as well as that of the local community. The Philippines has grown remarkably over the past 30 years. Its population is still increasing, and its economy is expected to post 5% growth or more. Of construction markets in Asia, the market in the Philippines is likely to see some of the biggest movement in terms of growth and expansion. CCT is working under a long-term growth strategy targeting corporate scale more than three times what it is now within 10 years by maximizing a sales network built over many years and by reinforcing human resources and management resources. This expansion will require Toyo Construction to boost efforts to develop and consolidate technological strengths and solution capabilities accumulated in its domestic operations for active application by CCT in the Philippines. Toward this end, we will promote long-term personnel exchanges with CCT. In addition, we will strive to reinforce cost competitiveness to enable CCT to provide Japanese-level construction quality, for which demand is expected to grow, at prices acceptable to the local market. Brother Industries’ Philippines factoryHiromi HirataExecutive Vice President General Manager, Architectural Construction DivisionAkira TateshitaManaging Executive Officer General Manager, Civil Construction Division(Millions of people)120* Prepared by Toyo Construction using estimates from data released by the World Bank804019902000201020202023Toyo Construction will contribute to infrastructure improvement in the Philippines through business expansion rooted in the community and will also strive to develop and consolidate technological strengths and solution capabilities through personnel exchanges involving local staff.Population of the Philippines (1990–2023)Civil engineeringBuilding constructionGrowth Strategies for the Future39
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