Gunma Electrical Contractor Escapes Red Ink, Nears Bankruptcy, and Bank Loan Recalls to Project Over 700 Million Yen in Sales This Term, Nearly Doubling Revenue in Three Years
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Katsuyama Electric Works Co., Ltd., an electrical construction company in Gunma Prefecture, announced its journey of escaping red ink and near-bankruptcy to project over 700 million yen in sales this term, nearly doubling its revenue in three years. The key to its success was transforming from a subcontracting model to a prime contractor system where craftsmen directly propose to clients, along with fostering young talent.