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To uphold our management philosophy, be a leading-edge service company, Credit Saison is determined to make our customers’ lives easier and it will continue to create innovative services by working with a wide variety of partners.
I would like to express my appreciation for your continued support and patronage. The 74th interim financial results (from April to September, 2023), both consolidated and non-consolidated, were strong, and we revised our full-year business results forecast upward. We are in the second year since we introduced the medium-term management plan in the 73rd fiscal year, which detailed our vision for transforming ourselves into a "comprehensive life services group". Aiming for continued growth, we have implemented a growth strategy covering four key aspects: the establishment of the Saison Partner Economic Zone and the reinforcement of cooperation among the Group's companies, the revitalization of the payment business, ensuring sound growth of our Finance Segment and expansion into new business domains, and the acceleration of the development of our Global Business. In terms of the Payment Business, we have started to reap the benefits of structural reforms, notably the improved productivity per person. However, information on our competitors indicates that there is still room for growth and further structural reforms are being planned.In terms of the Finance Business, all departments have produced great results. Examples of activities designed to increase transaction volume include the start of housing loan guarantee services for loans initiated by au Jibun Bank, and an alliance with Suruga Bank in the real estate finance business. The Global Business expansion is also gathering speed. In April, we announced that we had entered the markets of Brazil and Mexico. Kisetsu Saison Finance (India) Pvt. Ltd., a wholly-owned subsidiary company of Credit Saison Group, is also growing steadily. I witnessed the energy of the employees and the business in person during my visit.We will continue to vigorously pursue our business objectives as we expect to generate the business profit of 70 billion yen outlined in the medium-term management plan a year ahead of schedule. We will announce a new medium-term management plan in the next fiscal year with a view toward the further acceleration of our businesses.We will continue to materialize a variety of initiatives aimed at enhancing new corporate value. Lastly, I would like to ask for shareholders’ continued support for Credit Saison.
December 2023Representative, Executive President and COO
Our main initiatives during the 74th interim period from April to September, 2023 are shown here.
Revenue increase due to the expansion of the lending operations in the Global Business in addition to the strong performance in the Payment Business and the Finance Business.
Profit increased due to growth in the Finance Business (contribution to profit of Saison Fundex Corporation, conversion of Suruga Bank into an equity-method company, etc.) and the Real Estate-Related Business (gain on sale of beneficial interests in real estate trust, etc.), offsetting factors including the rebound effect from valuation gain on owned funds recorded in Global Business in the previous fiscal year.
Profit increased significantly as a result of recording an amount equivalent to gain on negative goodwill due to the conversion of Suruga Bank into an equity-method company as share of profit of entities accounted for using equity method.
We revised our full-year business results forecast upward considering our solid performance in the first half of the fiscal year and the conversion of Suruga Bank into an equity-method company, despite some areas, including bad debt costs and rise in interest rates, remaining uncertain.
We believe that efforts to strengthen our corporate structure and to continuously expand our business are important in order to increase shareholder value. Regarding the return of profits, we will strive to enhance internal reserves that will enable us to attain these goals, while at the same time providing our shareholders with appropriate, stable, and continuous dividends.In accordance with this basic policy, the Company initially planned to pay a year-end dividend for the 2023 fiscal year of 80 yen per share. Having revised our full-year business results forecast upward, it now also plans to pay a special dividend of 20 yen per share. Dividends per share for the 2023 fiscal year amounted to 100 yen (ordinary dividend of 80 yen, special dividend of 20 yen).
Credit Saison is responsible for the management of Akagi Nature Park, a regenerated forest at the foot of Mt. Akagi in Gunma Prefecture, enabling plants and wild creatures to thrive. We are working to create an environment in which people and nature coexist.
At the 73rd General Meeting of Shareholders held in June 21, 2023, 5,194 shareholders exercised their voting rights. 3,594 of them did so electronically via the Internet.This enabled us to reduce postage costs previously incurred when sending post cards. This year, we managed to save 226,422 yen that had been earmarked for sending post cards to 3,594 shareholders, which allowed us to purchase yamazakura cherry seedlings for Akagi Nature Park. They were planted on October 30.
We offer SAISON CARD Digital for becoz, Japan’s first personal credit card capable of visualizing CO2 emissions based on payment data, to support the realization of customers' carbon-neutral lifestyles.
In August 2023, we transitioned to using 100% electricity from renewable energy sources at the Tokyo Ubiquitous building owned by Credit Saison, where approximately 1,500 employees are based. This renewable energy (hereinafter renewable electricity) is fully derived from renewable energy sources under the Non-Fossil Certificate with Tracking scheme. In December 2023, we will also start providing renewable electricity at the Kansai Ubiquitous building.After that, it is expected that the annual CO2 emissions* of our business activities will be reduced around 58%.
* Total for Scopes 1–2
"Saison no Mirai Kaigi (Conference on the Future of Saison)", Credit Saison's official note, is a place where we explain our initiatives and ideas behind them faithfully using our own words based on the concept of "a place to think about a not-too-distant happy future" .
The summary of the report on the online questionnaire conducted in the 73rd fiscal year is as follows.334 shareholders kindly participated in the survey conducted from June 21 to August 31, 2023. We would like to express our gratitude to everyone who participated in the survey. We will improve our IR activities based on your valuable feedback.
We will continue to conduct questionnaire surveys on a regular basis to fulfil our goal of continuing to improve communication with our shareholders. Click the following link to participate in the questionnaire survey. We thank you in advance for your cooperation.
Win the chance to receive a small reward (QUO CARD Pay worth 500 yen) by participating in the questionnaire survey. *QUO CARD Pay is available for use only in Japan.
We conduct questionnaire surveys to collect feedback from our shareholders. We thank you in advance for your cooperation.
*The survey will close on January 31, 2024.
This questionnaire is provided byLink Corporate Communications Inc. using its e-shareholder research services.
For more information about the survey, contact the e-shareholder research office at their e-mail address: info@e-kabunushi.com
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Previously the year-end business report had been sent by postal mail in June every year. However, to save energy and reduce the Company's carbon footprint, distribution will shift to online disclosure through the Company's website.
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