Phase I: From foundation to development
1) Foundation period: Mizuno-Gumi for river and marine projects.
- First founded as Mizuno Gumi in Kure City, Hiroshima prefecture.
- Meiji era:
- Engaged in marine civil engineering projects, mainly for structures and facilities at navy bases throughout Japan.
- Taisho era:
- Expanded nationally ventured into land civil engineering and architectural projects.
2) Before WWII: Acquisition and improvement of mechanical facilities.
Constructed dredgers to strengthen the company position in the dredging and reclamation industry and launched the ship-building business.
Phase II: Recovery in postwar period and expansion of activities overseas and in Japan
1) Recovery period: Involved in reconstruction efforts in postwar in Japan.
- Commenced business in reconstruction of the company, aiming at marine civil engineering.
- Established as Mizuno Gumi Co., Ltd.
2) Oversees activities: Began business in overseas market.
- Dispatched a technical advisory group to Goa, India to consult on berth construction project at the Port of Goa.
- Constructed a turbine pump dredger, the SUEZ, and successfully won the Suez Canal dredging contract in international bidding.
- Renamed to Goyo Kensetsu and named Penta-Ocean Construction Co., Ltd. in English.
3) Nationwide development: Expanding our business through M&A
- Absorbed Sakai Construction Co., Ltd., strengthening the company’s land civil engineering capabilities.
- Absorbed Japan Land Development Co., Ltd. reinforcing our marine civil engineering capabilities.
- Absorbed Jin Industrial Co., Ltd and second business in Hokkaido, expanding our business base to cover all of Japan.
4) Major period of growth in our overseas activities: Accepted a succession of orders in overseas market.
- Accepted successive orders for large scale projects in Egypt, Singapore, Iraq and Qatar.
- 1975 - 1980
- Won the bid for deepening and widening the Suez Canal, that amounted to a total of ¥106.6 billion. This project made the name of Penta-Ocean known throughout the world.
Phase III: Evolving into a general contractor by strengthening building construction abilities
1) Into construction fields: Reinforcing construction department.
2) Growing into a general contractor: Comprehensive constructor having uniform capabilities.
- Completed many large-scale projects, including the construction of high-rise buildings in Hong Kong and Singapore. In the domestic market, the Company accumulated sufficient experience in construction utilizing new technologies, such as high-rise buildings, seismic isolation, all-weather automatic construction systems, and was equipped with reliable technological background.
- 100th Anniversary
3) Beginning Penta-Ocean’s second century in business: To be a world class, technology based comprehensive construction company.
- Received orders in Singapore for an opera house, the Esplanade-Theatres on the Bay , and large-scale reclamation work, Jurong Island Phase 3.
Completed the trailing suction hopper dredger, Queen of Penta-Ocean(:ANDROMEDA V), that was the most modern and largest of its kind in the world, and enabling the Company to receive large-scale reclamation works overseas.
Phase IV: Rehabilitation and further development
Emphasis on Profitability; Selection and Focus
- Announced the “Challenge 21” medium-term management plan to be a general engineering firm that contributes to a richer environment through construction.
- Achieved the “Challenge 21” goals. Contraction in project volume offset by profitability in domestic construction market and reduction in expenses; operating income traces “v-shaped” recovery. Improvement in financial condition exceeds plan.
As the No.1 Contractor in Coastal and Waterfront Areas
- Won the bid for Haneda Airport Runway D project.
Announced the “Evolution 21” medium-term management plan to strengthen earnings in core businesses, and to improve financial position, capitalizing on a reputation as the No.1 contractor in coastal and waterfront areas.
- Yoshio Murashige assumed Penta-Ocean president.
Dealt with the dramatic changes in the construction industry environment that exceed the pace of change originally forecast in “Evolution 21.”
- Conducted a two-for-one reverse stock split in conjunction with the adoption of an anti-takeover strategy.
Won the bid for a development construction project at Singapore's Pasir Panjang Container Terminal.
Not all achieved original “Evolution 21” goals; however, achieved the financial stability ahead of schedule.
- Announced the “Advance 21” medium-term management plan to win in an era of technological competition as the No.1 contractor in waterfront and coastal areas.
(Engage in ethical corporate activities; advance as a technology-driven company; strengthen on-site management capacity.)
Won the bid for Marina Coastal Expressway, contract 485. (design, construction and completion of 700m of dual 5-lane vehicular tunnel structure, of which approximately 420m is below the Marina Bay Crossing.)
- Won the bid for Kai Tak Cruise Terminal in Hong Kong.
- Won the bid for XRL C825 (shield tunnels project) in Hong Kong.
Won the bid for Mount Elizabeth Novena Hospital in Singapore.
Completed the cement deep mixing vessel, "POCOM No.12."
- Made a public offering (40.25 million more shares) as part of growth strategy.
Announced the new medium-term management plan to aim for even further growth as a No.1 coastal and waterfront areas. (Transition from general contractor model to a core business-integrated model.)
- Completed the self-propelled multipurpose working vessel, "CP-5001."
- Announced the new medium-term management plan.
Takuzo Shimizu assumed new president.
Completed the self-propelled cutter suction dredgers, "CASSIOPEIA V."
- 120th Anniversary