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Last year (FY2023) was the final year of the medium-term management plan "RISE ITOKI 2023," and we continued to promote various measures based on structural reform projects with the aim of becoming a "highly profitable company" with a strong constitution. In addition, we are focusing on IR activities, including significantly increasing opportunities for dialogue with sell-side analysts and institutional investors, and early disclosure of measures to "realize management that is conscious of capital costs and stock prices." I have come.
As a result of these efforts, our business performance reached a new record high, and our stock price index, PBR, was able to exceed 1x.

The business environment has been affected by the coronavirus pandemic, with the acceleration of digitalization, diversification and complexity of work styles, progress in human capital investment, and changes in the way and positioning of offices that contribute to engagement and productivity WORK-Style We recognize that we are at a time of major change.

In addition to responding to these changes in the business environment, We Design Tomorrow. We Design WORK-Style. In February of this year, we formulated a medium-term management plan, "RISE TO GROWTH 2026,'' aimed at achieving sustainable growth.

This year, as the first year of our medium-term management plan, we will propose next-generation offices (Office 3.0), expand our business by strengthening the logistics and research facility fields, and promote various measures for structural reform projects including our subsidiaries. We will strive for sustainable business expansion and profit growth.
In addition, we will implement cash allocation that takes into account the balance between various investments for profit growth and shareholder returns, and aim to "achieve a dividend payout ratio of 40%" to enhance shareholder returns.