May 2026
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Largest Construction & Engineering Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Kajima, Obayashi, Shimizu, Daito Trust Construction and Comsys Holdings.
 | Kajima Corp provides civil engineering and project management for multiple industries. It works in multiple phases, from planning and development to maintenance and renovation. The company constructs skyscrapers, power plants, office buildings, and other large structures. It enters into contracts to complete construction work at the designated site and add the necessary improvements. The company has five reportable segments: civil engineering, building business, real estate development, and other domestic subsidiaries, and overseas subsidiaries. The company utilizes research and development for all segments and allows engineers to receive training and enhance expertise through various programs. Japan accounts for the majority of the total revenue. | $37 | +64% | $17B | $20B | 1.1x | 13.7x | ||
| Obayashi Corp is a Japan-based company mainly engaged in construction and real estate business. The company operates through five segments. The Domestic Architecture segment undertakes construction work in Japan, while the Domestic Civil Engineering segment handles civil engineering projects within the country. The Overseas Architecture and Overseas Civil Engineering segments are involved in construction and civil engineering projects abroad. The Real Estate segment focuses on development activities, including real estate sales, leasing, and residential land development. The Others segment is engaged in PFI projects, renewable energy, rug business, and financial services. It generates the majority of its revenue from the Domestic Architecture segment. | $22 | +59% | $15B | $14B | 0.9x | 9.2x | ||
| Shimizu Corp is a Japan-based company mainly engaged in the construction business. The company operates through Construction, Investment and Development, Road Paving, and Others. It generates the majority of its revenue from the Construction segment. The Construction segment consolidates branches and headquarters engaged in construction activities. | $17 | -- | $12B | $13B | 1.1x | 14.1x | ||
| Daito Trust Construction Co Ltd is a Japan-based company engaged in the construction and real estate businesses. The company operates through four reportable segments: Construction Business, Real Estate Leasing Business, Real Estate Development Business, and Financial Business segment. It proposes land use plans, undertakes construction and installation of rental housing, and engages in bulk leasing of properties, which are subleased to tenants under a rental management system. The company also acts as an intermediary for tenants, develops and sells income-generating real estate, and conducts investment condominium development. It generates the majority of its revenue from the Real estate rental business segment. | $22 | -- | $7B | $7B | 0.6x | 7.3x | ||
| Comsys Holdings Corp installs electrical and telecommunications facilities and equipment. The company operates through the Comsys Information Systems Group segment, Hokuriku Telephone Construction Group segment, NDS Group segment, Nippon Comsys Group segment, SYSKEN Group segment, Sanwa Comsys Engineering Group segment, TOSYS Group segment, Tsuken Group segment, and Others segment. It generates the majority of its revenue from the Nippon Comsys Group segment, which is engaged in the construction of telecommunications facilities focusing on the Nippon Telegraph and Telephone Corporation (NTT) group. | $34 | +64% | $4B | $4B | 0.9x | 10.1x | ||
| SHO-BOND Holdings Co Ltd is a holding company of businesses engaged in civil engineering and construction work contracting. The group specialises in repairing and reinforcing public infrastructure, such as bridges and roads. It offers investigation and inspection services, manufactures and sells repair and reinforcement materials, and fulfils repair and reinforcement contracts. The group also manufactures and sells synthetic resin adhesives. Sho-Bond Holdings operates primarily in Japan. | $8 | -- | $2B | $2B | 2.4x | 10.3x | ||
| Architects Studio Japan Inc develops a network of architects in Japan. It also provides a platform to connect architects, home building companies and clients. It offers services for various projects, including renovations, medical facilities, rental properties, commercial developments, and other projects. | $3 | -- | $334M | $336M | 59.5x | (731.1x) | ||
| Median | $22 | +64% | $7B | $7B | 1.1x | 10.1x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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