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Now, I would like to explain the activity policy for the fiscal year ending March 31, 2021.
First, let me touch on our present recognition of the environment.
The COVID-19 impact is prolonged and the behavioral pattern that assumes coexistence with the coronavirus, is expected to continue.
In addition, it is uncertain how much the economy will slow down. However, we are going to have to monitor whether real estate market modulation will occur going forward.
The paradigm shift that will change the values of society has already begun (for instance, diversification of workstyles and workplaces).
We recognize the need for reform that addresses this paradigm shift.
As we said in May regarding the Group’s activity policy, we will drive forward reform that secures the Group’s sustainability and addresses the paradigm shift.
As for a short-term initiative to secure sustainability, we are committed to reviewing costs thoroughly and providing products and services for the new normal, prioritizing the safety and security of stakeholders, including customers and employees.
As examples of products and services for the new normal, we completed Tokyo PortCity Takeshiba, a smart city initiative.
We take on the challenge of “Lifestyle Creation 3.0” that achieves the ideal by integrating the three areas of “life,” “work” and “leisure” underpin social issues that are changing with the times and customers’ diversifying lifestyles, such as workstyle innovation, nursing and nursing-care issues, the extension of healthy life expectancy, and the facilitation of telework and workations. In addition, we will materialize it combined with digitalization at Tokyo PortCity Takeshiba.
The pandemic was, of course, unanticipated, but it coincided with non-contact needs and made us realize how important it is to predict customers’ needs from a long-term perspective and enter commercialization. Later I will explain our current initiatives in the Wellness segment and the Tokyu Hands segment on which the impact of the pandemic is particularly large.
As a reform to address the paradigm shift, we will focus on the evolution of business models in line with the Group’s social mission and the creation of new business opportunities.
We already started the acceleration of digitalization, the facilitation of Digital Transformation (DX) in each segment, and efficiency improvement of the existing segments. We expect that the ongoing cost reduction and initiatives for new products and services will lead to the evolution of business models in the new normal.
In particular, we are turning our businesses, mainly the Wellness segment and the Tokyu Hands segment on which the COVID-19 impact is large, into highly resilient business.
On the financial strategy front, there is no change in the policy of the continuation of investment for growth and maintenance of disciplined financial management.
Based on this policy, hybrid finance is expected.
I will later explain this in detail.
We have very severe earnings forecasts and a strong sense of crisis, but we conveyed a message to employees not to be impatient or misled. We will appropriately accommodate the changing environment.
We are currently working to formulate a long-term management policy with the year 2030 in mind to create a growth scenario that can flexibly respond to the VUCA time. We would like to announce it in May.
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