NOVAC（5079 TSE Standard）
＋English Summary on This Page
Solidly managed construction company with high operating profit margin
Construction Company with 100% Prime Contract Ratio
NOVAC is a construction company that conducts civil engineering and construction works. The civil engineering business accounts for 42.4% of net sales in the fiscal year ended April 2021 and the construction business accounts for 57.6%. The company also conducts the real estate leasing business, but net sales from the business in the fiscal year ended April 2021 was small at 12 million yen.
The ratio of the company being the prime contractor in works of over 50 million yen in both categories of civil engineering and construction in the past five fiscal periods is 100%. In addition, the percentage of employees holding certificates of qualification as managing engineers is at a high level of 52.9% as of the end of 2021.
Civil Engineering Business
In the civil engineering business, the company is engaged in construction works of social infrastructure including new highway construction works and works on lower parts of bridges, river works, shield constructions for flood control and road maintenance works.
The company receives about 15 construction orders annually as a prime contractor. While other companies’ ratios of public sector demand are around 60% to 70%, almost all of the company’s net sales from completed constructions is from works for the public sector. Major customers include the Ministry of Land, Infrastructure, Transport and Tourism and West Nippon Expressway.
Construction Business
In the construction business, the company is engaged in construction works of condominiums, logistics warehouses, welfare and medical facilities, rest facilities in service areas of expressways and others. In addition to new constructions, it also handles seismic reinforcements, repairs and renovation works to counter earthquakes and other natural disasters and extending the life of buildings.
Of the net sales of completed construction contracts in the fiscal year ended April 2021, 94.9% is from the private sector and 5.1% is from the public sector.
In the construction business, the company receives about 15 orders annually, of which around two thirds are condominium constructions mainly in the three major metropolitan areas.
Construction Company with 100% Prime Contract Ratio
NOVAC is a construction company that conducts civil engineering and construction works. The civil engineering business accounts for 42.4% of net sales in the fiscal year ended April 2021 and the construction business accounts for 57.6%. The company also conducts the real estate leasing business, but net sales from the business in the fiscal year ended April 2021 was small at 12 million yen.
The ratio of the company being the prime contractor in works of over 50 million yen in both categories of civil engineering and construction in the past five fiscal periods is 100%. In addition, the percentage of employees holding certificates of qualification as managing engineers is at a high level of 52.9% as of the end of 2021.
Civil Engineering Business
In the civil engineering business, the company is engaged in construction works of social infrastructure including new highway construction works and works on lower parts of bridges, river works, shield constructions for flood control and road maintenance works.
The company receives about 15 construction orders annually as a prime contractor. While other companies’ ratios of public sector demand are around 60% to 70%, almost all of the company’s net sales from completed constructions is from works for the public sector. Major customers include the Ministry of Land, Infrastructure, Transport and Tourism and West Nippon Expressway.
Construction Business
In the construction business, the company is engaged in construction works of condominiums, logistics warehouses, welfare and medical facilities, rest facilities in service areas of expressways and others. In addition to new constructions, it also handles seismic reinforcements, repairs and renovation works to counter earthquakes and other natural disasters and extending the life of buildings.
Of the net sales of completed construction contracts in the fiscal year ended April 2021, 94.9% is from the private sector and 5.1% is from the public sector.
In the construction business, the company receives about 15 orders annually, of which around two thirds are condominium constructions mainly in the three major metropolitan areas.
概要（レポートから抜粋）
ノバック（以下、同社）は、土木工事と建築工事を行う建設会社である。姫路市に本社、東京都港区に東京本店を置き、福岡市、広島市、高松市、大阪市、京都市、名古屋市、仙台市に支店を、盛岡市と和歌山県田辺市 に営業所を展開している。
土木工事事業は21/4期の売上高の42.4%、建築工事は同じく57.6%を占めている。また、「その他」として不動産賃貸事業を行っているが、21/4期の売上高は12百万円とわずかである。
土木工事事業は官公庁からの、建築工事事業は民間からの受注比率が高いが、21/4期の完成工事高の45.3%が官公庁向け、54.7%が民間向けとなっている。
土木工事、建築工事とも過去5期間の50百万円以上の工事について、元請比率は100%である。また従業員に占める監理技術者注1資格者証の保有者の割合も52.9 %（21年末）と高い水準にある。
なお、事業を進めてゆくうえで外注先の確保が重要となるが、同社は約70社の協力先を持ち、さらに末端まで含めると約1,000社の外注先がある。
上場時に調達する資金の使途として、外注先への支払手形のサイト短縮に伴う運転資金や協力先に支払う資材仕入れの資金に充当する予定であり、取引条件の改善を通じて外注先との関係はさらに強化されるものと思われる。
土木工事事業は21/4期の売上高の42.4%、建築工事は同じく57.6%を占めている。また、「その他」として不動産賃貸事業を行っているが、21/4期の売上高は12百万円とわずかである。
土木工事事業は官公庁からの、建築工事事業は民間からの受注比率が高いが、21/4期の完成工事高の45.3%が官公庁向け、54.7%が民間向けとなっている。
土木工事、建築工事とも過去5期間の50百万円以上の工事について、元請比率は100%である。また従業員に占める監理技術者注1資格者証の保有者の割合も52.9 %（21年末）と高い水準にある。
なお、事業を進めてゆくうえで外注先の確保が重要となるが、同社は約70社の協力先を持ち、さらに末端まで含めると約1,000社の外注先がある。
上場時に調達する資金の使途として、外注先への支払手形のサイト短縮に伴う運転資金や協力先に支払う資材仕入れの資金に充当する予定であり、取引条件の改善を通じて外注先との関係はさらに強化されるものと思われる。
