Our Business

About the First Brothers Group

The First Brothers Group is a professional real estate firm that operates its three business segments—Investment Management, Investment Banking, and Facility Operation—as an integrated platform, with real estate at the core of its business.

Business Overview

Since its founding in 2004, the First Brothers Group has focused primarily on real estate investment.

Today, the Group operates three business segments—Investment Banking, Investment Management, and Facility Operation—with principal investment activities serving as the foundation of its business. Among these segments, the Investment Banking business, which is centered on investing the Group's own capital, is the Group's primary earnings driver.

The First Brothers Group's Three Business Segments

  • 01. Investment Banking

    A business in which the Group invests directly, as a principal investor, in real estate, companies, and other assets

    Primary investment targets: Income-generating real estate (real estate for lease), startups, renewable energy projects

  • 02. Investment Management

    A business in which the Group manages assets on behalf of institutional investors and invests in real estate

    Primary investment targets: Large-scale real estate assets

  • 03. Facility Operation

    A business in which the Group directly operates hotels, ryokans (traditional Japanese inns), and other hospitality facilities

    Primary investment targets: Hotels, ryokans, and other hospitality facilities

Business Segment Details

01.

Investment Banking Business

Owning assets, enhancing value, and realizing returns at the optimal time.

This is a principal investment business in which the Group invests its own capital. Unlike the Investment Management business, which generates fee income by managing assets on behalf of investors, the Group acts as the asset owner and assumes both the risks and rewards of its investments.

Investment targets Primarily income-generating real estate (real estate for lease), as well as renewable energy and social infrastructure projects, startups, and venture businesses
A business model that combines stability and growth

The Group acquires assets and enhances their value through business activities such as renovations, operational improvements, and asset management. By realizing gains through asset sales at the optimal time and reinvesting the proceeds into new opportunities, the Group seeks to capture both stable income (rent) from asset ownership and long-term growth through capital gains.

Value changes during the holding period, and the flow of gains on sale and reinvestment

Expanding a stable earnings base through rental income while maximizing medium- to long-term profits through asset sales

Main business activities
Principal real estate investments / other investments (venture capital, private equity, overseas real estate, and renewable energy) / corporate advisory services (M&A, capital alliances, and financing advisory)
Main subsidiaries
First Brothers Capital Co., Ltd. / First Brothers Development Co., Ltd. / Higashinihon Fudosan Co.,Ltd.
02.

Investment Management Business

Managing investor capital and generating fee-based revenue.

This business involves managing capital entrusted by institutional investors and, as a professional investment manager, establishing and managing private funds whose primary investment target is real estate. The Company receives management fees in return for its investment management services.

Investment targets Large-scale real estate assets (primarily properties valued at over 10 billion yen)
How fees are generated
The structure in which the Group manages real estate on behalf of investors and receives management fees
Main business activities
Real estate asset management / private fund formation and management / end-to-end investment support from investment strategy formation through asset disposition
Main subsidiary
First Brothers Asset Management Co., Ltd.
03.

Facility Operation and Hospitality Services

Owning and operating hospitality facilities directly.

The Group owns and operates hotels, ryokans (traditional Japanese inns), and other hospitality facilities. The Group applies its expertise developed through real estate investment directly to facility operations.

Investment targets Hotels, ryokans, and other hospitality facilities
From ownership and operation to revenue generation
The flow in which the Group owns and operates facilities and earns operating revenue from users
Main business activities
Hotel and ryokan operations / provision of hospitality services
Main subsidiary
From First Hotels Co., Ltd.

Group Companies

The First Brothers Group consists of First Brothers Co., Ltd. and a number of consolidated subsidiaries. Each company is responsible for one of the Group's three business segments and contributes its specialized expertise while working closely with other Group companies to support the Group's overall business operations.

Company Business segment Ownership ratio
First Brothers Capital Co., Ltd. Investment Banking 100.0%
First Brothers Asset Management Co., Ltd. Investment Management 100.0%
First Brothers Development Co., Ltd. Investment Banking 100.0%
Higashinihon Fudosan Co.,Ltd. Investment Banking 99.5%
From First Hotels Co., Ltd. Facility Operation 100.0%

Corporate History

  1. February 2004

    First Brothers Co., Ltd. established to provide investment banking services

  2. December 2004

    Investment management business commenced

  3. November 2008

    Properties Co., Ltd. (Now: First Brothers Capital Co., Ltd.) started its operations

  4. December 2011

    First Brothers Asset Management Co., Ltd., established to begin operations as a subsidiary specializing in asset management

  5. June 2012

    Unimo Management Co., Ltd., established to specialize in asset management services

  6. February 2015

    Listed on Tokyo Stock Exchange Mothers

  7. June 2015

    First Brothers Capital Co., Ltd. became a specialized entity to focus on proprietary investments

  8. October 2016

    Transferred stock listing market from Mothers to First Section of Tokyo Stock Exchange

  9. April 2019

    Higashinihon Fudosan Co.,Ltd. Joined the First Brothers Group

  10. October 2021

    From First Hotels Co., Ltd. commenced the operation of hotels and other lodging facilities

  11. April 2022

    Moved from the First Section of the Tokyo Stock Exchange to the Prime Market, due to the market restructuring of the exchange

  12. October 2023

    Transferred stock listing market to the Standard Market of the Tokyo Stock Exchange