I would like to take this opportunity to extend to you my heartfelt gratitude for your continued support.
Looking at our business results in fiscal 2021, ended March 31, 2022, despite the harsh environment arising from the spread of COVID-19, multiple declarations of a state of emergency, increasing hesitation to go out, and other such factors, we recorded profit attributable to owners of parent for the first time in two fiscal years. This was primarily a result of our efforts to promote management reforms and reduce fixed costs.
In fiscal 2021, the Group established the Seibu Group’s FY2021–FY2023 Medium-term Management Plan based on the theme of “Looking ahead to our vision for the Group in a post-COVID-19 society, overcoming the impact of COVID-19 and creating a pathway for rapid growth.” We advanced initiatives with a three-point framework comprising management reforms, digital management, and sustainability. One of the themes of management reforms was asset-light business operation. In order to build a more robust structure to withstand crises that could arise repeatedly, we worked to restructure our internal Group organization and reviewed our business portfolio, including the shift to asset-light business operation in the Hotel and Leisure business and the transfer of Seibu Construction shares, to transform our business model.
The Group has steadily overcome past difficulties such as the 2008 financial crisis and the Great East Japan Earthquake. Likewise, the Group will overcome the COVID-19 pandemic through the collective strength we have built up over the years and our resolve. This year is the second year of the medium-term plan, and we will continue to carry out management reforms to transform our corporate structure into one that is resilient and sustainable.
Thank you in advance for your continued support.
Although the business environment remains harsh due to COVID-19, we will pay a year-end dividend of \5 per share for the fiscal year ended March 31, 2022 in light of the steady progress made on management reforms. In the fiscal year ending March 31, 2023, we plan an annual dividend of \10 per share (interim dividend of \5 and year-end dividend of \5) based on a comprehensive consideration of factors such as the liquidation of some assets in the Hotel and Leisure business and the financial forecasts and cash position in the fiscal year ending March 31, 2023.