Message from the President
How would you rate the company’s performance in fiscal 2015 (year ended February 2016)?
The strengthening of business structure ahead of the new growth stage has run its course, and profits reached a record high in all stages.
In fiscal 2015, consolidated operating revenue achieved double-digit growth of 12.7% year on year, to ¥229,754 million, thanks to steady growth in sales at existing malls overseas and the effect of opening 13 new malls in Japan and overseas. Although consumption in Japan remained weak, operating income, ordinary income and net income all exceeded the budget and reached a record high as a result of our efforts to control expenses in a planned manner, including the implementation of efficient sale promotion measures.
The company has been working to build a foundation for new growth since fiscal 2012. We have also been strengthening the business structure by promoting proactive growth initiatives in Japan and overseas, including the integration of developer functions of the Group and the development of the overseas business. Although growth in operating income slowed from fiscal 2012 due to the increase in prior costs for these growth initiatives, we were able to achieve a record high profit in all stages in fiscal 2015, due in part to the fact that our efforts to strengthen the business structure had run their course. We forecast higher revenue and income once again in fiscal 2016, given the proactive measures we will take for the further acceleration of growth.