We thank you for your continued kind consideration.

Japan’s economy traced a moderate recovery path. A key development came in May 2023, when the government downgraded Covid-19 to a Class 5 disease (the same level as seasonal influenza). Although this move led to better corporate earnings and employment levels as well as a recovery in consumer confidence, the recovery has been gradual due to the effects of the weak yen and inflation.

As for our organization, we recently embarked on D1, the first of three medium-term (3-year) phases of our new long-term strategy, D Plan. D Plan emphasizes four D’s: Further Develop the Keisei Group and execute business both Dynamically and Drastically Day by Day. While setting our businesses on the path of post-pandemic growth, we’re also making organizational changes to drive D Plan forward.

Our organization’s fundamental and perennial mission is to ensure safety and reliability. On top of this, we engage in five strategic themes. The first three describe strategies for achieving the vision: 1) community wellbeing, 2) tourism, and 3) airport links. The other two describe underpinnings for the strategy: 4) governance and 5) talent. We will contribute to sustainability through community partnerships and by enhancing Narita Airport, the entrance to Japan.

We remain committed as ever to our management philosophy, which is to ensure safety and reliability, deliver products and services that delight customers, and contribute to the wellbeing of the communities served by our rail lines and our other businesses. Alongside this, we’ll ensure rigorous compliance and risk management by bolstering our internal controls, and embody our corporate citizenship with an unceasing commitment to supporting ecological sustainability. We’ll also keep promoting a customer-centric culture through a campaign known in Japanese as Best Manner Kōjō (a campaign to improve customer communication, service quality, and customer service etiquette). Through such efforts, we’ll make our businesses the customer’s first choice.

I hope you continue to look forward to continued progress from the Keisei Group.

Representative Director and President