The company, considered one of Japan's mid-tier zenekon (general contractors) by the 1990s, went bankrupt in 2001 and merged with Asunaro Construction in 2004.

The company was established as the Bulldozer Koji Co. Ltd. in Osaka in 1947 by Masuji Aoki, a former Imperial Japanese Navy commander.

[3] A Hong Kong branch office was established in 1976 after Aoki won a tunneling contract for the new Mass Transit Railway (MTR).

[3] Aoki acquired the American hospitality company Westin Hotels from Allegis Corporation in 1988, paying US$1.35 billion.

In 1989, Japan's Fair Trade Commission alleged that the group was an illegal price-fixing cartel and ordered it to disband.

Relative to other Japanese contractors, it realised a large proportion of sales in overseas markets such as Hong Kong – about one-third that year.

[13] A subsequent investigation by the Electrical and Mechanical Services Department revealed that a driving pinion in the motor gearbox assembly was in poor condition.

[3] By the late 1990s, major Japanese banks considered Aoki Corporation to be at risk of failure, as it faced a heavy debt burden as well as fewer public works projects to bid on.