To Our Stakeholders
This fiscal year marks my fifth since appointment as president of PARCO. Until now, I used the phrase “evolving from our point of origin” as a marker in considering, together with our workforce, ways to reassess and clarify the path that PARCO has taken, and driving the evolution of our starting point as a company forward.
For the PARCO Group, I view our “point of origin” as carrying out attractive urban revitalization and spreading high-value-added communication on trends, which ultimately have a tremendous impact on people’s lifestyles. I define this in three key concepts – “Incubation,” “Urban Revitalization,” and “Trends Communication.” I am convinced that driving this evolution in our point of origin by predicting social and market changes to take on business with entirely new concepts is the key to ensuring that the PARCO Group can fulfill its social role and achieve future growth.
At the same time, the domestic consumer environment is witnessing a dramatic transformation in market structure, particularly as urban populations rise in step with globalization and an ongoing return to urban areas, coupled with changes in the generational makeup of the population and more diverse customer needs triggered by increasing ICT sophistication. Outside of Japan, along with China’s maturing market, cities in the ASEAN region are entering a growth phase. Taken together, these changes signal that a plethora of new business opportunities are now emerging.
To ensure that we securely capture these global changes and translate them into business opportunities, in fiscal 2014, we declared our a Longterm Vision for the year 2020, announced our Medium-term Business Plan (FY 2014-2016), and revolutionized our business portfolio by spurring progress in existing businesses and adding vigorous support to new operations.
The initial year of the plan went smoothly, with operating and ordinary income both reaching record highs for a third consecutive year. Furthermore, we are planning to raise the dividend scheduled for payment in the February 2016 fiscal year.
Our name, PARCO, comes from the Italian word for “park.” Like its namesake, PARCO provides spaces where people can come together to share time and space, where they can relax and have fun. As a corporate group, we are committed to driving the evolution of the PARCO Group’s “points of origin” of “Incubation,” “Urban Revitalization” and “Trends Communication,” and to doing our utmost to deliver PARCO locations as spaces where the creation of new lifestyle stories consistently happens.
We ask for the continued understanding and support of our many stakeholders as we move forward.
PARCO CO., LTD.
President and Representative Executive Officer