Message from the President

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Message from the President

Hironori Nishikawa President & CEO
Hironori Nishikawa
President & CEO

Create value for the future

We will address issues in society through our business activities and work with stakeholders to realize a sustainable society and growth.
We will realize a future where everyone can be themselves and shine vigorously through the creation of a variety of attractive lifestyles.

Review of the 8th Fiscal Year

In the real estate industry, although the office building market witnessed moves to consolidate and downsize offices reflecting the economic slowdown under the COVID-19 pandemic, demand for next-generation offices tailored to new needs such as the growing adoption of teleworking and advances in work-style reform remained generally stable. In the real estate investment market, the appetite of investors to acquire properties in the Japanese market was generally strong, and needs for properties offering excellent location and convenience were firm in the condominium market. As a result, transaction prices remained solid in both markets. Meanwhile, markets related to hotels and resorts and commercial facilities in the city center continued to face challenges due to the disappearance of inbound demand and the impact of people refraining from going out.

Taking seriously its role in infrastructure, the Tokyu Fudosan Holdings Group has been dedicated to the continuation of business activities while being committed to measures to protect its customers and employees from the novel coronavirus. However, the Wellness business and Tokyu Hands business, in particular, were affected by the COVID-19, and operating revenue came to 907,735 million yen (down 5.8% year on year). Operating profit was 56,517 million yen (down 28.7% year on year) and ordinary profit stood at 46,555 million yen (down 31.0% year on year). Profit attributable to owners of parent decreased to 21,668 million yen (down 43.9% year on year).

Long-term vision "GROUP VISION 2030" and the outlook for the 9th fiscal year

The Group formulated and published its long-term vision "GROUP VISION 2030," looking ahead to 2030, in May 2021. To promote the VISION, the Group has selected themes for its efforts to create value (materialities) and included the Group policy, business policy and key strategies based on the materialities into the long-term management policy.



In the 9th fiscal year, the first year of the long-term management policy, it is still difficult to estimate the impact of the COVID-19 pandemic, given the third declaration of a state of emergency, among other factors, but we have prepared our forecast for financial results, incorporating the impacts expected as of the time of writing. Results may fluctuate in the future, depending on when the COVID-19 is contained, but we will make every effort to achieve a V-shaped recovery to pre-COVID-19 performance and profits.

To Our Shareholders

Setting "Becoming a Corporate Group that Continues to Create Value" as our ideal vision, we will aim to realize a future where everyone can be themselves and shine vigorously through the creation of a variety of appealing lifestyles, impressive new experiences enabled by DX and contribution to a decarbonized society as a way to create value toward 2030. Duplicating this aspiration with the Group's corporate color green, we have put it into a message "WE ARE GREEN" and begun delivering it. Based on the GROUP VISION 2030 and the long-term management policy, the Group will work to increase the satisfaction level of stakeholders including business partners and the future society, with the aim of achieving sustainable growth over the long term.

With respect to shareholder returns, the Group has decided to maintain the year-end dividend of 8 yen per share for the 8th fiscal year, aiming to maintain stable dividends. In its dividend policy for the periods after the 9th fiscal year, the Group has set a near-term target for the dividend payout ratio of 30% or more, one step higher than before, and decided to continue working on the maintenance and continuation of stable dividends.

The situation is expected to remain uncertain for the time being, but we ask for the continued support and cooperation of our shareholders.

June 2021
Hironori Nishikawa, President & CEO

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