Since fiscal 2025, we have been operating under the “Tenth Management Plan.” In the first year of the plan, for the six months ended September 30, 2025, both the office building leasing business and the condominium sales business achieved record-high profits, driving the overall performance. As a result, operating income, ordinary profit, and profit all reached record highs for an interim period. Taking into account the performance through the interim period, we have revised our full-year earnings forecast upward. The progress rate has reached approximately 60% of the revised forecast, and we believe we are making steady progress toward achieving a record-high ordinary profit for the fifth consecutive year, as well as a record-high profit for the 13th consecutive year.

In May 2023, we announced our basic policy of the “Management Strategy for Sustainable Growth” and have been proactively reviewing and updating it to ensure steady progress toward sustainable growth. In November 2025, we announced “Two Consistent Principles and Four New Policies for Adaptive Growth,” thereby restating our management policy. In addition to further accumulating Prime Assets in central Tokyo, which are the source of our sustainable profit growth, we are investing 1 trillion yen in Mumbai, India. With 300 billion yen in ordinary profit—expected to be achieved in the fiscal year ending March 2027—as a checkpoint, we will strive to expand our solid business platform, aiming for the even higher milestone of 400 billion yen in ordinary profit. In terms of dividends, we are continuing a progressive dividend increase commensurate with profit growth and are on track to increase the dividend for the 12th consecutive year. Moreover, in order to further improve the liquidity of our shares and expand our investor base, each share of common stock will be split 2-for-1 on January 1, 2026.

In preparation for transitioning to a Company with an Audit and Supervisory Committee in June 2027, we are advancing necessary governance reforms; in 2025, we reduced the prescribed number of directors, shortened the term of office for directors, and established a voluntary Nominating Committee. We will continue steadily working on initiatives aimed at sustainable growth and enhancement of corporate value.