Daiichi Kensetsu

What Daiichi Kensetsu does

Daiichi Kensetsu Corporation (第一建設工業株式会社) is a Japanese publicly listed general construction contractor founded in 1942 and headquartered in Niigata City, Japan. The company is listed on the Tokyo Stock Exchange Standard Market under ticker 1799 and operates four business segments: civil engineering construction (railway-related infrastructure, bridges, tunnels, waterway structures), architectural construction (railway stations, commercial, residential, medical/welfare, educational, and industrial facilities), railway track construction (Shinkansen and conventional line new builds, crossings, daily track maintenance), and real estate (trading, exchange, leasing, brokerage, management). For FY ended March 2026 it reported revenue of 600 billion yen, operating profit of 69 billion yen (11.5% margin), and net profit of 52 billion yen, with 1,004 employees as of March 31, 2026 and a debt-free balance sheet (86.5% equity ratio, 747B yen net assets).

The company maintains three proprietary construction technology platforms: the D-flip method (任意深度定着型仮締切り工法) for arbitrary-depth temporary cofferdam systems in bridge pier repair, backed by at least 14 granted Japanese patents; the Sto dry-spray polymer cement mortar method licensed from German Sto SE & Co. KGaA for concrete structure restoration; and ZEB/ZEH-M solutions for energy-efficient building construction. It also deploys ICT construction equipment and jointly developed VTOL drone Level 3.5 flight technology for railway slope surveys with JR East Niigata Branch, Tetsu Kogyo, and Aerosense.

Daiichi Kensetsu sells exclusively through project-based direct contracting with no reseller or distribution channels. Its primary customers are JR East and group companies (the core railway construction segment), national and local government agencies including the Ministry of Land, Infrastructure, Transport and Tourism and four prefectural governments in eastern Japan, and a secondary set of private enterprises for building construction and real estate. The company operates regionally across eastern Japan (Niigata, Nagano, Akita, Miyagi, Yamagata prefectures) with regional branches in each, plus Tokyo. Average employee tenure of 14.1 years and a dedicated training center with railway mock-ups in Kameda support specialized craft capabilities.

Name

Daiichi Kensetsu

Legal name

第一建設工業株式会社

Website

https://daiichi-kensetsu.co.jp

Company type

Public

Founded year

1942

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Daiichi Kensetsu Corporation is a Japanese publicly listed general contractor founded in 1942, specializing in railway infrastructure, civil engineering, building construction, and real estate. It primarily serves JR East and government agencies across eastern Japan.

Ownership category

akta.pro rank

Product category

Railway Infrastructure Construction

NAICS

Heavy and Civil Engineering Construction (237), Highway, Street, and Bridge Construction (237310)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Railway Track & Civil Works Construction (Ballast, Slab Track, Alignment) (IMAFAFAA)

akta.pro secondary industries

Bridges, Viaducts & Elevated Guideway Construction (IMAFAFAF), Tunnels & Underground Rail Civil Construction (IMAFAFAE), Stations, Platforms & Depot/Yard Construction (IMAFAFAD)

Keywords

• Railway construction
• Civil engineering
• Bridge repair
• Railway track works
• Infrastructure construction

Headquarters

HQ city

Niigata

HQ country

Japan

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Civil Engineering Construction: General civil engineering construction including railway-related infrastructure, public works, bridges, tunnels, and waterway structures
2. Architectural Construction: Building construction services including railway stations, commercial facilities, residential buildings, medical/welfare facilities, educational/cultural facilities, and office/warehouse/factory construction
3. Railway Track Construction: New track construction for Shinkansen and conventional lines, including railroad crossings and continuous grade-separation projects, as well as daily track maintenance and inspection services
4. Real Estate: Real estate trading, exchange, leasing, brokerage and management services

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Daiichi Kensetsu is a general construction company specializing in railway infrastructure, operating across four business segments: civil engineering (railway-related infrastructure, bridges, tunnels, public works), architectural construction (stations, commercial, residential, medical, and educational facilities), railway track works (Shinkansen/conventional line construction and maintenance), and real estate (trading, leasing, brokerage, management). The company also develops proprietary construction technologies including the D-flip temporary cofferdam method for bridge pier repair and Sto dry spray mortar for concrete restoration.

Product overview

Daiichi Kensetsu is a general construction company specializing in railway infrastructure. The company operates across four business segments — civil engineering, architectural construction, railway works, and real estate — and maintains three proprietary construction technology products: D-flip for temporary cofferdam systems in bridge repair, Sto dry spray mortar for concrete restoration, and ZEB/ZEH-M for energy-efficient building construction. The company primarily serves JR East and public infrastructure clients across Japan's Hokuriku and Tohoku regions.

Differentiator

Problem solved

Functional benefit

Products and services

• D-flip method (D-flip工法) A proprietary temporary cofferdam construction method for bridge pier repair and reinforcement work. Enables construction of a dry workspace at any required depth without driving sheet piles into the riverbed, reducing costs and construction time compared to conventional steel sheet pile methods. Targeted at railway bridge repair projects for JR East and government infrastructure clients.
• Sto Dry Spray Mortar Method (Sto乾式吹付けモルタル工法) A dry spray mortar construction method for concrete structure repair, based on German Sto technology. Uses pre-mixed polymer cement mortar sprayed at high velocity to restore and reinforce deteriorated concrete surfaces, with superior compressive strength and durability compared to wet spray or manual plastering methods. Targeted at infrastructure repair projects including bridges, tunnels, and station structures.
• ZEB/ZEH-M Energy-Efficient Building Solutions Zero Energy Building (ZEB) and Net Zero Energy House for Multi-family housing (ZEH-M) solutions. Energy-efficient building design and construction services that reduce operational energy consumption through passive design and renewable energy systems, enhancing asset value and corporate sustainability. Targeted at private commercial and residential developers.
• Civil Engineering Construction (土木事業) General civil engineering construction services including railway-related infrastructure, public works, bridges, tunnels, and waterway structures. Serves JR East group companies, Ministry of Land, Infrastructure, Transport and Tourism, and prefectural/municipal governments across eastern Japan.
• Architectural Construction (建築事業) Building construction services including railway stations, commercial facilities, residential buildings, medical/welfare facilities, educational/cultural facilities, and office/warehouse/factory construction. Serves JR East and private enterprise customers.
• Railway Track Construction (線路事業) New track construction for Shinkansen and conventional lines, including railroad crossings and continuous grade-separation projects, as well as daily track maintenance and inspection services. Core service for JR East group and railway infrastructure clients.
• Real Estate Services (不動産事業) Real estate trading, exchange, leasing, brokerage, and management services. Provides comfortable living spaces and optimal real estate products to customers across eastern Japan.

Quantifiable outcome

• Zero debt (debt-free management) - demonstrating financial stability and strong cash flow
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• East Japan Railway Company Niigata Branch (東日本旅客鉄道株式会社新潟支社)coreStrategic or Co-development Partner · 22 January 2026Joint recipient of Infrastructure Maintenance Award Excellence Prize for VTOL drone slope survey technology development and implementation
• Tetsu Kogyo (東鉄工業株式会社)minorStrategic or Co-development Partner · 22 January 2026Joint recipient of Infrastructure Maintenance Award Excellence Prize for drone survey technology collaboration
• Home Tech Asahi (ホームテック旭)minorOthersRelated company engaged in construction and real estate services
• Civil Asahi (シビル旭)minorOthersRelated company in civil engineering sector
• Ichiken Kido Kai (いちけん軌道会)coreStrategic or Co-development PartnerOrganization linking track construction partner companies across Niigata, Nagano, Akita, and Yamagata prefectures to promote safety awareness, technical skill improvement, technology development, and information sharing
• Sto SE & Co. KGaA (ドイツSto社)Technology or IntegrationTechnology partner providing polymer cement mortar products and technical support for dry spray mortar method. Sto has over 30 years of experience in concrete repair in Europe.
• Akita Northern Happinets (秋田ノーザンハピネッツ)minorOthersOfficial partner for professional basketball team based in Akita, supporting regional sports promotion activities
• Montedio Yamagata (モンテディオ山形)minorOthersSoccer school sponsorship supporting youth sports development in Yamagata region
• Akita Nairiku Railway (秋田内陸縦貫鉄道株式会社)minorOthersPartnership for regional activation events including special train operations for community baseball events

Scale indicators13 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Nishimatsu Construction: Japanese general contractor with a long-standing focus on railway construction, Shinkansen projects, and tunnel/bridge infrastructure. Comparable mid-sized footprint and similar mix of civil engineering, building, and rail works as Daiichi.
• Penta-Ocean Construction: Japanese construction company with strong civil engineering capabilities including bridges, tunnels, and transportation infrastructure. Competes for similar public-works and railway contracts and serves as a directly comparable peer in the heavy-civil segment.
• Maeda Corporation: Established Japanese general contractor with significant railway, bridge, and tunnel construction heritage. Competes directly with Daiichi in rail-related civil engineering projects awarded by JR group companies and national/local governments.
• Zenitaka Corporation: Japanese construction firm with focused exposure to railway, bridge, and civil-infrastructure projects, particularly for JR operators. Has similar geographic concentration and project-based contracting model as Daiichi Kensetsu.
• Toda Corporation: Major Japanese general contractor with significant civil engineering, building construction, and rail-related infrastructure exposure. Operates across Japan with similar project-based contracting model, making it one of the most directly comparable peers to Daiichi Kensetsu.

Broad incumbents

• Taisei Corporation: One of Japan's largest general contractors spanning civil engineering, building construction, and large-scale infrastructure projects. Competes with Daiichi across multiple construction segments but operates at much larger scale with broader geographic reach.
• Shimizu Corporation: Top-tier Japanese super-general contractor with extensive civil engineering, building construction, and infrastructure renewal capabilities. Offers overlapping services to Daiichi but at far greater scale, with nationwide and international reach.
• Tokyu Construction: Mid-to-large Japanese general contractor with rail-adjacent civil engineering, building, and real estate development operations. More diversified than Daiichi but competes for similar railway and infrastructure projects, especially in eastern Japan including the Tokyo metropolitan area.
• Obayashi Corporation: Major Japanese super-general contractor with broad civil engineering, building, and infrastructure exposure. While overlapping with Daiichi in railway-adjacent civil engineering, its scale and diversification exceed Daiichi's, making it a broad incumbent peer.

Others

• Japan Railway Construction, Transport and Technology Agency (JRTT): Japanese government-affiliated organization that builds Shinkansen and other railway infrastructure. Listed as a Daiichi customer per company data and shapes the demand environment for railway civil engineering contractors, making it a key industry counterpart rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCjanl5s6eO6aWcM8iHqJ-mg

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Daiichi Kensetsu