Japanese contractors have rushed workers, generators and equipment to areas devastated by the March 11 earthquake and tsunami that damaged or destroyed more than 110,000 buildings and may have killed 20,000 people.

"We've had many, many requests" for floodlights, power equipment and construction gear since the temblor, said Takashi Yamada, a spokesman for Osaka-based Nishio Rent All Co. "We're just sorry we don't have enough stock for everyone."

The government has asked companies such as Daiwa House Industry Co. to supply more than 30,000 temporary houses within two months to help shelter the 350,000 people now in evacuation centers. Prime Minister Naoto Kan has also pledged to "rebuild from scratch" following the magnitude-9 quake and tsunami that damaged about 1,500 roads, 48 bridges and 15 railways, according to the National Police Agency.

"The scale of the rebuilding will be huge," said Kazuo Susa, a spokesman for Fukuda Corp., a general contractor based in Niigata prefecture, northwestern Japan.

Fukuda started inspecting buildings the day after the quake and it began repairs to facilities including shopping centers the following day to help customers resume operations, Susa said. The company is now reinstalling fallen ceilings and working on other repairs in buildings that avoided the worst of the damage as it awaits the start of full-fledged reconstruction, he said.

Eoin Treacy's view The problems at the Fukushima nuclear reactors has been the focus of media attention over the last week but Japan is also about to begin a massive rebuilding operation.

The TPX-17 Construction and Materials Index remains within a more than two year range. It briefly tested the lower side last week but regained much of the loss. A sustained move above 125 would confirm a return to medium-term demand dominance.

Daito Trust Construction has been a leader in the construction sector and yields 3.8%. It pulled back sharply last week, having been quite overextended, found support in the region of the 200-day MA and has regained the majority of the decline. Some further consolidation in the region of the 2006 peak appears likely but a sustained move below ¥6000 would be required to question medium-term upside potential.

JGC Corp builds industrial plants and power stations. It also rallied impressively from last week's low. A sustained move below the MA, currently near ¥1600 would be required to question potential for additional medium-term upside

The Topix REIT Index is also worthy of mention. It yields a competitive 5.17% and also rallied impressively from last week's low. It is now back above 1000 and a sustained move below that level would be required to question potential for some additional medium-term upside