From our Representative Director Investors

First, I want to say thank you to our shareholders and investors for your continued support.

Now in our 74th fiscal year, we continue to build a stronger THE NORTH FACE brand while accelerating development for our original Goldwin brand to expand in the global market. Our target for the year is record-high sales of 133,200 million yen, representing a 5.0% year-on-year gain. We seek continued brand and corporate value growth, leveraging our strong supply chain and strengths in cost management, as well as growth investments balancing considerations of capital efficiency. We believe our efforts will outpace increases in SG&A stemming from J-ESOP, other personnel expenses, and one-time charges for relocating our head office.

Goldwin announced a new five-year management plan in July 2024. This plan, concluding in March 2029, describes how we will grow our original Goldwin brand to 50 billion yen in sales over 10 years. We call this part of the plan the “Goldwin500” project. We seek to stake out a position quickly in mainland China and South Korea as a premium sports brand fusing sports and fashion. To this end, we have formed local joint ventures and are building our businesses steadily. Further, we aim to expand our core THE NORTH FACE brand as a category through the CORE&MORE strategy, increasing brand sales to 128 billion yen over the course of the new medium-term plan. We expressed our determination to “re-start” our path toward becoming a 100-year company, targeting 188.5 billion yen in consolidated net sales, 36 billion yen in operating profit, and 46 billion yen in ordinary profit for the fiscal year ending March 2029.

Our sustainability goals include the three environmental impact reduction targets of our previous medium-term plan and a new target to conserve and restore biodiversity as part of our corporate responsibility.

We continue to refine our sensitivity and ingenuity to perceive customers and markets through an innovative lens, creating products and brands with high intrinsic value. True to our roots as a manufacturer, we strive to be a company that proposes new value and creates fans through painstaking detail in every aspect, even those aspects that remain unseen.

I ask you, our stakeholders, for your continued understanding and support of Goldwin as we pursue our goals.