April 20, 2004

Takenaka Corporation (Head Office: Osaka; President: Toichi Takenaka) has established a branch office of its Shanghai-based 100 percent fully-owned locally-incorporated company, "Takenaka (China) Construction Co., Ltd." (Grade B Qualification Corporation) in Tianjin, where there is a lot of construction investment activity centered around manufacturing facilities for Japanese companies. The Tianjin Branch acquired a construction license on March 22, completed registration formalities on April 9, and began receiving orders and production activities.

With the license acquired by the Shanghai Head Office last year, it was taking over one month to receive construction permits for various projects in Tianjin and other areas, but with the establishment of the new branch office, this waiting period will be vastly reduced, leading to the faster beginning of production activities.

In Tianjin, which has been seeing outstanding growth, there has been a boom in the construction of new manufacturing facilities and extensions to existing facilities since 2000 for Japanese automotive, electrical product and machinery manufacturers. Takenaka was the first Japanese company to begin receiving construction orders from Japanese companies in Tianjin, from May 2000, and has since completed the construction of a total of 10 projects in the Tianjin area. Presently, the company is working on 15 factory projects which it received last year, with a staff of over 120 including a large local staff. The company has a large share of the work in the Tianjin area, and is therefore planning to strengthen its order receipts and production activities in this promising region.

Outline of the establishment of the Tianjin Branch Office