First Corporation Co., Ltd. (TSE: 1430) reported consolidated results for the fiscal year ended May 2026 under Japanese GAAP. Revenue fell 15.7% to ¥36,417 million, but operating profit rose 12.3% to ¥2,896 million, ordinary profit increased 8.5% to ¥2,689 million and net profit attributable to owners of the parent climbed 12.8% to ¥1,882 million. Basic earnings per share were ¥157.18, up from ¥139.74 a year earlier.
Fewer completions, better margins
First Corporation is a Tokyo-based general contractor specialising in the design and construction of condominiums for property developers. Revenue declined as fewer projects reached completion during the year following an unusually strong prior period, but profit still rose as the operating margin widened to 8.0% from 6.0%. The company converted its higher-quality order book into stronger per-project profitability.
Sharp rebound guided for FY27
For the year to May 2027, First Corporation guides a strong recovery in volume: revenue of ¥44,000 million (+20.8%), operating profit of ¥3,500 million (+20.9%), ordinary profit of ¥3,000 million (+11.5%) and net profit of ¥2,070 million (+10.0%), with EPS of ¥169.84.
Balance sheet and dividend
Total assets stood at ¥32,284 million and net assets at ¥11,145 million, for an equity ratio of 34.5%. The annual dividend was raised to ¥51.00 per share from ¥48.00 the previous year, with the same ¥51.00 guided for FY27.
| Metric | FY5/2026 | FY5/2025 | YoY |
|---|---|---|---|
| Revenue (¥ billion) | 36.42 | 43.19 | −15.7% |
| Operating profit (¥ billion) | 2.90 | 2.58 | +12.3% |
| Ordinary profit (¥ billion) | 2.69 | 2.48 | +8.5% |
| Net profit attrib. to owners (¥ billion) | 1.88 | 1.67 | +12.8% |
| Basic EPS (¥) | 157.18 | 139.74 | +12.5% |
| Annual dividend (¥) | 51.00 | 48.00 | +6.3% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.