From our Representative Director Investors

We would like to express our deepest gratitude to our shareholders and investors for your continued trust and support.

Our 73rd fiscal year (ending March 2024) witnessed a prolonged record heatwave that contributed to strong sales of summer products and an ensuing late start to sales of our fall/winter collections. However, supported by the resumption of economic activity after the COVID-19 pandemic and a surge in inbound demand, we achieved the third consecutive year of revenue/sales growth and the second consecutive year of record profits. We believe our success in maintaining this momentum in the fast-changing fashion industry is not due to any single product or brand driving performance, but rather the result of the combined strength of our multiple-brand portfolio.

In July of this year, we announced a new five-year mid-term management plan ending in March 2029. While preserving the basic policy of Play Earth 2030 — the long-term vision set forth in our previous mid-term plan — we have launched “Goldwin 500” to grow our original brand, Goldwin, to 50 billion yen in 10 years as a means of fortifying our business sustainability. A core part of this initiative is rapid expansion in mainland China and South Korea. We have established joint ventures in those markets and are making steady progress.

In addition, we have set a goal of increasing sales of our flagship brand, The North Face, to 128 billion yen during the new mid-term. This will achieve consolidated sales of 188.5 billion yen, operating income of 36 billion yen, and ordinary profit of 46 billion yen for the fiscal year ending March 2029. These targets express our determination to reinvigorate our journey toward our 100th anniversary.

As for environmental sustainability, we intend to fulfill our corporate responsibility to create a positive impact by augmenting the three environmental load–reduction targets set out in our previous mid-term plan with a new goal of preserving and restoring biodiversity, making regeneration of the global ecosystem one of our corporate responsibilities.

Please view our website to gain a deeper understanding of our business operations, strategy, and environmental initiatives. We look forward to your continued understanding and support.