The PPIH Group celebrated the 30th anniversary of the opening of its first Don Quijote store in 2019. Thanks to the passionate support of our customers, we have been able to achieve the momentous feat of posting increases in net sales and operating income in each of the 30 years leading up to this milestone.
I would like to take this opportunity to express my gratitude to the customers that have supported us over the years as well as to our business partners and all of our other stakeholders.
The PPIH Group looks to continue to grow going forward, and accomplishing this growth will require even greater levels of speed and flexibility in our responsiveness to change. To this end, we intend to advance initiatives through a concerted Groupwide effort while also going further to actively leverage and utilize the strength, insight, and wisdom of external partners in our management.
Specific growth strategies in the domestic market will include transitioning to MEGA Don Quijote UNY stores, which are posting impressive growth thanks to our customers, with an emphasis on speed. We will also implement various unique and precisely targeted initiatives to respond to the massive changes taking place in the domestic retail industry, including the consumption tax hike and substantial industry reorganization.
Overseas, our efforts will be focused on DON DON DONKI, a new store format that is proving immensely popular in developed countries. Committed to growing from being a unique entity in Japan to being a unique entity in the world, our top priority will be to create and entrench unique new store formats while rapidly exploring new markets.
Looking ahead, we will base our management on the corporate philosophy of "valuing the customer as our utmost priority" as defined in Genryu ("The Source"), a collection of our corporate ideals. At the same time, we will seek to respond to changes in customer needs and in the times while boldly tackling new management challenges.
I hope we can look forward to your ongoing support and understanding.
President & CEO, Representative Director Naoki Yoshida