To Our Shareholders
I would like to express my sincere gratitude for your continued support.
While Japanese economy has maintained a moderate recovery and private construction investment has improved through corporates’ active attitude towards capital investment, the business environment surrounding our Group is still in a harsh condition where we are actually affected by the construction material costs which are remaining high.
To our regret, the forecast for the Medium-Term Business Plan (2021-2023) is expected to fall short of the numerical target of the final year. Furthermore, I would like to reiterate our most sincere apologies for the recent incidents regarding quality failure and delay in the construction schedule of our ongoing construction projects, which have caused our shareholders’ concerns. All executives and employees will strive to do our best to restore the trust in our Group.
As our Company celebrates its 150th anniversary this year, we consider that the changes in our business environment from now on will be at the speed and the magnitude beyond our imagination, accelerated by the latest technological evolutions and social conditions. While appropriately adapting to these changes in response to expectations of the stakeholders, we will strive to achieve “TAISEI VISION 2030,” which represents medium to long-term vision of our Group.
In addition, based upon the resolution at the Board of Directors’ meeting on May 12, 2023, the Company’s common share, 1,787,500 shares (the acquisition amount: 8,840 million yen) were acquired by September 30, 2023, in order to increase shareholders’ returns and to improve capital efficiency.
I sincerely appreciate your continued and invaluable cooperation and support.
President and Chief Executive Officer,