First Corporation

Basic Information

Stock Code
1430
Industry
Construction Industry
Category Detail
Construction & Civil Engineering
Prefecture
Tokyo
Establishment Year
June 2011
Listing Year
March 2015
Official Website
https://1st-corp.com/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Sho-Bond Holdings, Daiichi Cutter Kogyo, Tokken Corporation, Yamaura, Sada Kensetsu, Shin Nihon Construction, Japan Foundation Technology, Tomoe Corporation, Raito Kogyo, Nittoku Kensetsu, Tobu Jyuhan, Asmark, Otake

Overview

First Corporation is a Tokyo-based construction company founded in 2011, notable for its strength in condominium construction.

Current Situation

First Corporation recorded sales of approximately 20.9 billion yen and operating profit of approximately 1.6 billion yen in 2021, maintaining solid earnings. Its main condominium construction business features a build-to-order system from in-house land procurement to construction, ensuring competitiveness. It primarily operates in Tokyo and has a branch in Fukuoka to pursue regional expansion. It emphasizes quality management and conducts construction audits by third-party organizations. It transitioned to the Tokyo Stock Exchange Standard Market, enhancing financial stability. It differentiates itself from industry competitors and has acquired a real estate transaction business license to advance diversification. It is progressing with responses to environmental regulations and labor shortages in the construction industry, promoting further business expansion and community-focused strategies going forward. Recently, it has accelerated investments in digitalization and productivity improvements, aiming for sustainable growth.

Trivia

Interesting Facts

  • Achieved Tokyo Stock Exchange Mothers listing just a few years after founding
  • Land procurement through build-to-order method is a rare approach in the industry
  • Manualization of construction techniques and third-party audits are proof of customer trust
  • Tokyo-centered growth company headquartered in Suginami Ward
  • Accelerating regional expansion with Kyushu branch in Fukuoka
  • Paid-in capital exceeds 728 million yen, stable finances despite mid-sized scale
  • Approximately 138 employees, organization emphasizing expertise
  • First construction project Presis Chitose Funabashi has received high evaluations
  • Representative Director Toshitoshi Nakamura has been CEO since establishment
  • Entered housing renovation business, advancing diversification
  • Also holds real estate transaction license, expanding into real estate transactions
  • Nikkei industry classification includes real estate in addition to construction and civil engineering
  • Multiple transaction and competitive relationships with Nikkei-listed related companies
  • Dividend policy suggests stable dividend orientation
  • Construction manual development is an industry-leading example attracting attention

Hidden Connections

  • Close transaction relationships with related stocks such as Tobu Jyuhan and Otake, real estate-related companies
  • Strong partnerships with regional financial institutions through real estate brokerage operations
  • Progressing collaborations with local governments and development operators via Kyushu branch establishment
  • Joint system stabilizing management base among representative director's related companies and shareholders
  • Collaboration records with competing construction companies in specific construction fields
  • Formation of real estate circulation ecosystem through acquisition of real estate transaction license
  • Construction manuals also provided as know-how to industry associations
  • In-house technician training programs contribute to advancement of construction technology

Future Outlook

Growth Drivers

  • Increasing housing demand in central Tokyo and Fukuoka
  • Further efficiency and expansion of build-to-order method
  • Promotion of digitalization and IoT in construction management
  • Rising demand for environmentally considerate architecture
  • Growth in building renovation market
  • Increasing maintenance demand due to aging housing
  • Stable growth in real estate market
  • Brand strengthening through improved customer satisfaction
  • Advancement of new market development and diversification strategies
  • Talent development and securing of specialized technicians
  • Ongoing efforts to improve construction quality
  • Expansion of real estate transaction business

Strategic Goals

  • Growth to sales scale of 30 billion yen
  • Full introduction of sustainable construction technologies
  • Infrastructure development for nationwide build-to-order expansion
  • 30% productivity improvement through digital and IoT utilization
  • Brand strengthening as a community-focused company
  • Integration of real estate transaction services
  • Enhanced employee technical training programs
  • Construction rollout aiming for 30% reduction in environmental impact
  • Achieve 50% revenue ratio from diversified businesses
  • Continuation of stable dividend policy and enhancement of shareholder value

Business Segments

Condominium Construction Business

Overview
Integrated condominium construction services from land procurement to construction and inspection.
Competitiveness
Achieves profit margins and improved quality control through in-house land procurement via build-to-order method.
Customers
  • Real estate developers
  • Construction companies
  • Financial institutions
  • Land owners
  • Joint venture partners
Products
  • Planning and design services
  • Construction management
  • Quality management
  • Land procurement expertise
  • After-sales service

Real Estate Brokerage and Sales Support

Overview
Provides brokerage and sales management services associated with condominium sales.
Competitiveness
Efficient sales promotion leveraging condominium construction strengths.
Customers
  • Real estate brokers
  • General consumers
  • Investors
  • Residential loan providers
Products
  • Real estate brokerage services
  • Sales agency business
  • Market research
  • Sales strategy planning

Construction Consulting

Overview
Provides specialized services supporting planning and management of construction projects.
Competitiveness
High-precision construction management and quality assurance based on practical experience.
Customers
  • Architectural design firms
  • Construction companies
  • Local governments
  • Development operators
Products
  • Construction planning
  • Risk management support
  • Quality audit services
  • Schedule management

Building Materials Procurement

Overview
Stable supply and rational procurement of construction materials.
Competitiveness
Efficient procurement network and cost management.
Customers
  • Construction companies
  • Suppliers
  • Manufacturers
Products
  • Concrete
  • Steel materials
  • Timber
  • Building materials

Building Maintenance Services

Overview
Provides regular maintenance and upkeep for buildings.
Competitiveness
High-quality maintenance leveraging construction know-how.
Customers
  • Condominium management associations
  • Real estate management companies
  • Building owners
Products
  • Periodic inspections
  • Repair works
  • Renovation proposals
  • After-sales service

Real Estate Transaction Business

Overview
Real estate transaction services based on real estate transaction license.
Competitiveness
Secure real estate transactions synergizing with in-house construction.
Customers
  • Real estate buyers
  • Real estate sellers
  • Investors
Products
  • Land and building brokerage
  • Real estate transaction support

Regional Development Support

Overview
Services supporting sustainable development of local communities.
Competitiveness
Proposal and execution capabilities rooted in the community.
Customers
  • Local governments
  • Regional development organizations
  • Private operators
Products
  • Regional planning
  • Infrastructure development support
  • Environmental measures support

Competitive Advantage

Strengths

  • Strength in in-house land procurement through build-to-order method
  • Community-focused strategy centered on Tokyo
  • High-quality condominium construction technology
  • Meticulous quality management system
  • Stable financial foundation
  • Established brand in growth markets
  • Flexible business expansion and diversification
  • Strong trust relationships with customers
  • Securing of specialized personnel including qualified professionals
  • Rapid market response capabilities
  • Ongoing efforts in technological innovation
  • Thorough risk management in construction
  • Excellent after-sales service system
  • Efficient materials procurement capabilities
  • Service expansion through real estate transaction license

Competitive Advantages

  • Cost reduction and quality improvement through integrated management from land procurement to construction
  • Efficient expansion through strategic market selection centered on Tokyo and Fukuoka
  • Consistent quality assurance via construction manuals and third-party audits
  • Stable capital structure earning trust from investors and financial institutions
  • Diversification of revenue sources through multifaceted business development
  • Strong customer base and long-term transaction relationships
  • Flexible planning responsive to market needs
  • High-quality construction by highly specialized technical staff
  • Enhanced brand value through community focus
  • Secured customer satisfaction with comprehensive after-sales services
  • Expansion of real estate-related operations through acquisition of real estate transaction license
  • Improved construction efficiency through active adoption of latest construction technologies
  • Differentiation from competitors through rapid response capabilities
  • Business stability through advanced risk management
  • Strengthened initiatives for eco-friendly architecture

Threats

  • Cost pressures from fluctuations in construction material prices
  • Labor shortages and decrease in skilled technicians
  • Burden of compliance with intensified construction industry regulations and environmental standards
  • Risks from fluctuations in land prices and real estate market
  • Market expansion offensives by large competitors
  • Impact of natural disasters on construction progress
  • Decline in housing demand due to rising interest rates
  • Decline in investment appetite due to deteriorating economic conditions
  • Reduced orders from supply-demand imbalances
  • Cost increases from project delays
  • Lagging adaptation to the pace of technological innovation
  • Brand impact from risks of declining reliability

Innovations

2023: Introduction of Digital Construction Management System

Overview
Introduced digital management tools company-wide to improve productivity at construction sites.
Impact
Achieved 20% improvement in work efficiency and reduction in errors

2022: Expansion of Green Building Materials Adoption

Overview
Actively adopting sustainable building materials to reduce environmental impact.
Impact
Reduced CO2 emissions and promoted acquisition of environmental certifications

2021: Quality Management Enhancement Program

Overview
Enhanced third-party audits and advanced quality assurance system.
Impact
Improved customer satisfaction and reduced complaints

2024: Promotion of IoT-Utilizing Site Management

Overview
Began visualizing real-time construction status using IoT technology.
Impact
Enabled early detection and correction of construction delays

2020: Development of Online Consultation System for Customers

Overview
Established a system for online construction consultations to improve customer convenience.
Impact
Accelerated customer response and improved satisfaction

Sustainability

  • Strengthened initiatives toward zero-emission architecture
  • Expanded use of recycled resource-based building materials
  • Introduction of energy-saving designs and construction methods
  • Promotion of cooperation in local environmental protection activities
  • Employee environmental education and awareness enhancement