【Results for FY2021, and Future growth strategy】
During FY 2022/9, we began to see a gradual recovery from the pandemic and the restart of economic activities, but the progression of the weak yen and inflation of material and energy costs has resulted in prices for various goods and services to continue on an upward trend. This unexpected turn has led to a slowdown in economic recovery and prevented a full revival of the real estate sector.

In light of our recent performance, we have made the decision to focus our efforts on our core businesses. As part of this decision, we sold our domestic subsidiary LIFULL Marketing Partners and overseas subsidiary FASHIOLA and ended the year with \35.7 billion (-0.4% YoY) in revenue. Operating profit, on the other hand, was 1.6 billion JPY with 1.1 billion JPY in profit attributable to owners of the parent.　

　For our Japanese flagship service, LIFULL HOME'S, we have been concentrating our efforts and making proactive investments on the concept of becoming a Super Hyper Assistant for users and real estate professionals to make each step of the home search process more efficient. In the fourth quarter, we began to see some of the effects of the changes we have been making, including an increase in inquiries from highly-motivated users, and will continue to make proactive growth investments to improve profitability of our services.

　Overseas, we experienced a decline in revenue from third-party advertising products, such as AdSense, in our aggregation sites. At the same time, the click price for our own premium advertising products reached its highest levels ever, and we will continue to push for recovery in these areas. Also, we acquired Properati and Wasi in order to further grow our real estate portals in Latin America. By combining these services with the enormous network of LIFULL CONNECT, we are providing more value to our client base and increasing overall revenue.

【Revisions to Mid-Term Targets (FY 2025/9)】
　Although we are starting to see some positive results of our investments in our core businesses, revenue has been slightly behind our original expectations, and we decided to sell a portion of our businesses in order to ensure our selective focus. As a result, we have also revised the targets of our Mid-Term Management Plan for FY 2025/9. During FY 2023/9, we project 3.6% growth in revenue and an average two points of annual growth each following year with over 5 billion JPY in operating profit by the end of September 2025 - the highest profit level ever for the LIFULL Group. To further motivate our employees towards these goals and ensure that they maintain the same perspective as our shareholders, we have introduced buy-in stock options for executives and employees of LIFULL Co., Ltd. In addition, we have also implemented a share buyback for the benefit of our shareholders and to return the share price to an appropriate level.

【Returns for Stakeholder】
　Since our founding, we have been guided by our credo of "Altruism" and have been working to find solutions to social issues through our business ventures to ensure that everyone can achieve a LIFE FULL of comfort and happiness. In 2022, we also established our sustainability targets for the sustainable growth of all of our businesses and will continue to further enhance and deepen the details we disclose.

【Finally】
　Our society is changing rapidly, but we will not change our ideal of working to give everyone around the world a LIFE FULL of happiness. We will continue our path of selective focus to ensure that we reach the targets we have set in our Mid-Term Management Plan for FY 2025/9. Through these initiatives, we want to continue to strive for sustainable growth as well as the positive development of total shareholder return.

　Thank you for your appreciation of our efforts, and we look forward to your continued support.