  We present cosmological parameter constraints from a blinded joint analysis
of galaxy-galaxy weak lensing, $\Delta\!\Sigma(R)$, and projected correlation
function, $w_\mathrm{p}(R)$, measured from the first-year HSC (HSC-Y1) data and
SDSS spectroscopic galaxies over $0.15<z<0.7$. We use luminosity-limited
samples as lens samples for $\Delta\!\Sigma$ and as large-scale structure
tracers for $w_\mathrm{p}$ in three redshift bins, and use the HSC-Y1 galaxy
catalog to define a secure sample of source galaxies at $z_\mathrm{ph}>0.75$
for the $\Delta\!\Sigma$ measurements, selected based on their photometric
redshifts. For theoretical template, we use the "minimal bias" model for the
cosmological clustering observables for the flat $\Lambda$CDM cosmological
model. We compare the model predictions with the measurements in each redshift
bin on large scales, $R>12$ and $8~h^{-1}\mathrm{Mpc}$ for $\Delta\!\Sigma(R)$
and $w_\mathrm{p}(R)$, respectively, where the perturbation theory-inspired
model is valid. When we employ weak priors on cosmological parameters, without
CMB information, we find $S_8=0.936^{+0.092}_{-0.086}$,
$\sigma_8=0.85^{+0.16}_{-0.11}$, and $\Omega_\mathrm{m}=0.283^{+0.12}_{-0.035}$
for the flat $\Lambda$CDM model. Although the central value of $S_8$ appears to
be larger than those inferred from other cosmological experiments, we find that
the difference is consistent with expected differences due to sample variance,
and our results are consistent with the other results to within the statistical
uncertainties. (abriged)
