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I would now like now to explain the business integration with Tokyu Community Corporation and Tokyu Livable, Inc. through the establishment of a holding company, which was announced on May 10, 2013.
At first, with respect to the purpose of the business integration, we have decided to establish a pure holding company to create a management structure that will allow the Group to respond to changes in business conditions flexibly and rapidly, and more efficiently harness its comprehensive capabilities to the fullest extent.
With this initiative, we aim to switch our mode from a "foundation establishment phase" to a "growth phase" by strengthening the financial foundations and group management foundations as described in the present medium-term management plan.
As presented in the figure, we will strive to maximize the Group's comprehensive capabilities through three specific approaches.
First, we will improve management mobility and efficiency through innovation in the Group's management foundation.
In particular, we will strive to enhance mobility and efficiency through the restructuring of overlapping businesses and the integration of staff and other functions, and accelerate growth by making effective investments in the Group's growth sectors with functions to appropriately distribute management resources.
Second, we will expand synergies within the Group. To achieve this, we will take steps to share customer information, strengthen the value chain in each business segment, and step up personnel exchanges.
Third, we will accelerate the growth of each Group business through the strengthening of financial foundations.
In strengthening our financial foundations, we expect to (i) bring in minority interests and accelerate the accumulation of term income, and (ii) increase equity through the transfer.
With the reinforced financial foundations, we will actively allocate management resources to redevelopment projects and the growth sectors in the future and strive to expand the related assets and maximize contributions to the revenues of the related businesses, thereby pushing the Group presence to the No. 1 position in the real estate management and brokerage businesses.
The Group is also united in pursuing aggressive initiatives to develop new businesses, such as overseas and new businesses.
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