Business Outline

Description of operations

First-corporation is a general contractor that in the construction of built-for-sale condominiums mainly in the Tokyo area.

  1. Following a period of brisk growth after its establishment in June 2011, First-corporation listed on the Mothers section of the Tokyo Stock Exchange in March 2015.
  2. First-corporation moved its listing to the First Section of the Tokyo Stock Exchange in December 2016.

Major clients

First-corporation has a history of special dealings with major developers, and is also developing new clients.

  1. Clients comprise leading condominium developers, mostly major players including Tokyo Tatemono Co., Ltd., Nippon Tochi-Tatemono Co., Ltd., Nippon Steel Kowa Real Estate Co., Ltd., Mitsui Fudosan Residential Co., Ltd., Hankyu Hanshin Properties Corp., NTT Urban Development Corporation, and Tokyu Land Corporation.
  2. Boost profit margin with special assignment orders by "Zouchu" business.
  3. In addition to aggressive business expansion centered on the “Zouchu” business, we are developing new clients that appreciate our passion for quality.

Business environment

First-corporation aims to expand its market share over the medium term amid a favorable business environment.

  1. The built-for-sale condominium construction market in the Tokyo area and three neighboring prefectures (Tokyo, Kanagawa Prefecture, Saitama Prefecture and Chiba Prefecture), is expected to around 37,000 units in 2019, compared to 37,132 units in 2018. The number of construction starts are expected to around 57,000 units and the operating environment is forecast to remain stable.
  2. First-corporation’s market share in the fiscal year ended May 31, 2019 was only about 2%, which underscores the considerable potential to grow market share.
  3. First-corporation entered the active and senior condominium business, the renovation business and the urban redevelopment business, and aims to facilitate an expansion in the scale of growth by promote business in Kyushu area.