Business Strategy

First-corporation has formulated a business strategy for achieving the targets outlined in "Innovation 2021", its new three-year medium-term management plan that began in the fiscal year ended May 2022.

Medium-term management plan: (1) Numerical targets

In its first year, the figures are conservative due to ongoing construction work, scheduled construction work and sale of real estate on hand. In the fiscal year ending May 31, 2024, three years later, First-corporation is targeting net sales of Yen30 billion, ordinary income of Yen2.35 billion and amount of orders received of Yen21 billion.

in million yen

  Fiscal year ended
May 31, 2021
Fiscal year ending
May 31, 2022
Fiscal year ending
May 31, 2023
Fiscal year ending
May 31, 2024
actual forecast (y-o-y) forecast (y-o-y) forecast (y-o-y)
Sales 20,919 26,500 126.7% 28,000 105.7% 30,000 107.1%
Cost of sales 17,989 23,459 130.4% 24,616 104.9% 26,250 106.6%
Gross profit 2,929 3,041 103.8% 3,384 111.3% 3,750 110.8%
 Gross profit to net sales 14.0% 11.5%   12.1%   12.5%  
Operating income 1,666 1,720 103.2% 2,044 118.8% 2,400 117.4%
 Operating income to net sales ratio 8.0% 6.5%   7.3%   8.0%  
Ordinary income 1,608 1,700 105.7% 2,000 117.6% 2,350 117.5%
 Ordinary income to net sales ratio 7.7% 6.4%   7.1%   7.8%  
Net income 1,125 1,182 105.0% 1,370 115.9% 1,595 116.4%
 Net income to net sales ratio 5.4% 4.5%   4.9%   5.3%  
 
Amount of orders received 23,103 22,000 95.2% 18,000 81.8% 21,000 116.7%
Number of orders 10 7   7   7  
(Zouchu) 8,274 15,000 181.3% 10,000 66.7% 8,000 80.0%
Number of Zouchu 4 2   3   3  
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