Kajima Corp. said Friday its group pretax profit fell 28.6 percent in fiscal 2002 to 25.82 billion yen, primarily due to smaller profit margins and reduced revenue from construction projects.
The nation's largest construction firm also posted a net profit of 10.11 billion yen, against a loss of 41.15 billion yen recorded the previous year.
This turnaround was primarily attributed to reduced extraordinary losses tied to financial improvement measures.
In its consolidated earnings report, Kajima said revenue fell 9 percent to 1.875 trillion yen.
Net profit per share stood at 10.44 yen, compared with a per-share loss of 43.03 yen logged in fiscal 2001.
The company will pay a full-year dividend of 5 yen per share, including an interim dividend of 2.5 yen already paid.
In the previous year, it paid a full-year dividend of 7 yen.
For fiscal 2003, Kajima forecasts a net loss of 5 billion yen and a pretax profit of 37 billion yen on revenue of 1.7 trillion yen.
It expects a net loss due to a one-time loss tied to its employment pension program.