Presentation Material of Financial Results for FY2023 (ended December 31, 2023)
DENTSU SOKEN INC.
February 14, 2024
INDEX
- Outline of financial results for FY2023
-
Forecasts for FY2024
2
- Progress of Medium-term Management Plan
INDEX
- Outline of financial results for FY2023
Forecasts for FY2024
3
Progress of Medium-term Management Plan
- Net sales and operating profit reached record highs for the sixth consecutive fiscal year.
- Strengthen shareholder returns based on performance trends and financial conditions.
Net sales
+10.5％
Expansion in all segments
+13.1％
Mainly the effect of increase in sales
Operating profit
Orders received
+3.1％
Exceeded FY2022 (cumulative)
when large orders were received
Dividend per share
+28.2％
Strengthening shareholder returns
Consolidated Results(Unit: Millions of yen)
FY2023 (cumulative) | YoY | vs. Forecasts (announced on July 31, 2023) | |||||
FY2022 (cumulative) | Variance | % change | Forecasts | Variance | % change | ||
Net sales | 142,608 | 129,054 | +13,554 | +10.5 | 140,000 | +2,608 | +1.9 |
Gross profit Gross profit margin (%) | 51,780 36.3 | 46,786 36.3 | +4,994 +0.0p | +10.7 - | 52,352 37.4 | -572 -1.1p | -1.1 - |
Selling, general and administrative expenses | 30,752 | 28,196 | +2,556 | +9.1 | 31,352 | -600 | -1.9 |
Operating profit Operating margin (%) | 21,028 14.7 | 18,590 14.4 | +2,438 +0.3p | +13.1 - | 21,000 15.0 | +28 -0.3p | +0.1 - |
Ordinary profit | 21,244 | 18,354 | +2,890 | +15.7 | 21,100 | +144 | +0.7 |
Profit attributable to owners of parent | 14,663 | 12,598 | +2,065 | +16.4 | 14,700 | -37 | -0.3 |
ROE (%) | 18.7 | 18.1 | +0.6p | - | |||
Number of employees* (people) | 3,652 | 3,388 | +264 | +7.8 | * at the end of the fiscal year | ||
YoY
+24.3
Impact of increase in gross profit margin +0.6
(Unit: 100 million of yen)
Operating profit
185.9
Gross profit margin increased
+0.06p, mainly in Custom System Development, Consulting and Third-party Software.
Effect of Increase in sales +49.2
Increase in SG&A expenses -25.5
Operating profit
Increase mainly in personnel, sales promotion and R&D expenses.
210.2
FY2022 (cumulative) result
FY2023 (cumulative) result
Factors for Increase/Decrease in Operating Profit (vs. Forecast)(Unit: 100 million of yen)
Operating profit
210.0
Effect of Increase in sales +9.7
Impact of decline in gross profit margin -15.5
vs. Forecast
+0.2
Decline in SG&A expenses +6.0
Operating profit
Decrease in personnel expenses, etc.
Gross profit margin decreased -1.1p mainly due to Custom System Development, Outsourcing, Operation and Maintenance Services.
210.2
FY2023 (cumulative) forecast
(announced on July 31, 2023)
FY2023 (cumulative) result
Net Sales and Operating Profit by Reportable Segment(Unit: Millions of yen)
FY2023 (cumulative) | YoY | Overview | vs. Forecasts (announced on July 31, 2023) | ||||
Variance | % change | Variance | % change | ||||
Financial Solutions | Net sales Operating profit % | 30,598 3,498 11.4 | +2,473 +1,887 +5.7p | +8.8 +117.1 - | Net sales and operating profit increased due to the expansion of the sales and implementation of In-house Software in the core banking area centered on accounting and the customer contact reform area, mainly to the banking industry. | +1,098 - - | +3.7 - - |
Business Solutions | Net sales Operating profit % | 23,107 5,770 25.0 | +4,499 +1,066 -0.3p | +24.2 +22.7 - | Net sales and operating profit increased due to the expansion of the sales and implementation of four key solutions, POSITIVE, STRAVIS, Ci*X, CCH Tagetik mainly in the trading and the manufacturing industry. | +1,207 - - | +5.5 - - |
Manufacturing Solutions | Net sales Operating profit % | 41,118 5,106 12.4 | +4,665 +927 +0.9p | +12.8 +22.2 - | Net sales and operating profit increased due to expansion of consulting services, 3D CAD "NX", PLM solution "Teamcenter", conceptual design solution "iQUAVIS", etc., mainly in transportation equipment and machinery industries. | +1,718 - - | +4.4 - - |
Communication IT | Net sales Operating profit % | 47,784 6,652 13.9 | +1,917 -1,443 -3.7p | +4.2 -17.8 - | Net sales increased due to an expansion of projects for the implementation of SAP solutions, mainly in the manufacturing industry. Operating profit decreased due to a lower profitability of custom system development, outsourcing and operation & maintenance services, etc. | -1,416 - - | -2.9 - - |
* POSITIVE : human capital management solution STRAVIS : consolidated accounting software Ci*X : financial solution system CCH Tagetik : business management solution
Ref.) Consolidated Results for the 4Q (Oct.-Dec.) of FY20234Q of FY2023 (Oct.-Dec.) | YoY | |||
4Q of FY2023 | Variance | % change | ||
Net sales | 37,340 | 35,245 | +2,095 | +5.9 |
Gross profit % | 13,921 37.3 | 12,768 36.2 | +1,153 +1.1p | +9.0 - |
Selling, general and administrative expenses | 8,444 | 8,364 | +80 | +1.0 |
Operating profit % | 5,477 14.7 | 4,403 12.5 | +1,074 +2.2p | +24.4 - |
Consolidated Results
(Unit: Millions of yen)
Reportable Segment (Unit: Millions of yen)
4Q of FY2023 (Oct.-Dec.) | YoY | |||
Variance | % change | |||
Net sales Operating profit % | 8,015 | +601 | +8.1 | |
Financial Solutions | 921 | +843 | +1,080.8 | |
11.5 | +10.4p | - | ||
Net sales Operating profit % | 5,641 | +547 | +10.7 | |
Business Solutions | 1,198 | +160 | +15.4 | |
21.2 | +0.8p | - | ||
Net sales Operating profit % | 11,298 | +1,374 | +13.8 | |
Manufacturing Solutions | 1,646 | +609 | +58.7 | |
14.6 | +4.2p | - | ||
Net sales Operating profit % | 12,386 | -426 | -3.3 | |
Communication IT | 1,710 | -539 | -24.0 | |
13.8 | -3.8p | - | ||
(Unit: Millions of yen)
Service category | FY2023 (cumulative) | YoY | vs. Initial forecasts (announced on July 31, 2023) | ||
Variance | % change | Variance | % change | ||
Consulting Services | 8,611 | +1,193 | +16.1 | +31 | +0.4 |
Custom System Development | 30,913 | -2,194 | -6.6 | -2,093 | -6.3 |
In-house Software | 30,237 | +5,430 | +21.9 | +2,096 | +7.4 |
Third-party Software | 48,184 | +7,885 | +19.6 | +1,813 | +3.9 |
Outsourcing, Operation and Maintenance Services | 17,108 | +1,056 | +6.6 | +26 | +0.2 |
IT Equipment Sales and Others | 7,553 | +184 | +2.5 | +736 | +10.8 |
Counterparty | FY2023 (cumulative) | YoY | |
Variance | % change | ||
Dentsu Group Inc. and it's subsidiaries | 22,691 | -1,390 | -5.8 |
(Unit: Millions of yen)
Industry | FY2023 (cumulative) | YoY | |||
Net sales | Composition ratio (%) | Variance | % change | ||
Banks | 22,035 | 15.5 | +2,433 | +12.4 | |
Other financial institutions | 7,301 | 5.1 | -894 | -10.9 | |
Financial | 29,337 | 20.6 | +1,540 | +5.5 | |
Transportation equipment | 22,566 | 15.8 | +4,110 | +22.3 | |
Electric appliances Precision instruments | 15,117 | 10.7 | +1,970 | +15.0 | |
Machinery | 10,620 | 7.4 | +2,147 | +25.3 | |
Other products | 11,857 | 8.3 | -19 | -0.2 | |
Manufacturing | 60,161 | 42.2 | +8,209 | +15.8 | |
Services and public offices | 40,687 | 28.5 | +2,028 | +5.2 | |
Distributions and others | 12,421 | 8.7 | +1,776 | +16.7 | |
(Unit: Millions of yen)
As of Dec. 31, 2023 | As of Dec. 31, 2022 | Variance | Main factors for increase/decrease | ||
Total current assets | 114,813 | 103,099 | +11,714 | Increase in trade receivables and contract assets (+5,060) Increase in deposits paid(+3,560) Increase in advance payments to suppliers (+2,296) | |
Total non-current assets | 18,520 | 18,793 | -273 | Decrease in deferred tax assets (-279) | |
Total assets | 133,333 | 121,892 | +11,441 | ||
Total current liabilities | 47,622 | 45,687 | +1,935 | Increase in contract liabilities (+1,576) Increase in accrued consumption taxes (+478) | |
Total non-current liabilities | 2,739 | 2,333 | +406 | Increase in long-term lease liabilities (+189) Increase in deferred tax liabilities (+110) | |
Total liabilities | 50,362 | 48,021 | +2,341 | ||
Total net assets | 82,971 | 73,871 | +9,100 | Increase in retained earnings (+8,863) | |
Total liabilities and net assets | 133,333 | 121,892 | +11,441 | ||
(Unit: Millions of yen)
FY2023 (cumulative) | Main factors | YoY | ||
FY2022 (cumulative) | Variance | |||
Cash flows from operating activities | 13,046 | Profit before income taxes (20,951) Depreciation (3,200) Increase in contract liabilities (1,416) Income taxes paid (-5,693) Increase in trade receivables and contract assets (-4,932) Increase in advance payments to suppliers (-2,251) | 11,914 | +1,132 |
Cash flows from investing activities | -2,359 | Purchase of intangible assets (-2,194) | -3,132 | +773 |
Cash flows from financing activities | -6,702 | Dividends paid (-5,799) | -5,419 | -1,283 |
Effect of exchange rate change on cash and cash equivalents | 225 | 194 | +31 | |
Net increase (decrease) in cash and cash equivalents | 4,210 | 3,556 | +654 | |
Cash and cash equivalents at the beginning of period | 53,305 | 49,748 | +3,557 | |
Cash and cash equivalents at the end of period | 57,515 | 53,305 | +4,210 | |
Orders received for the year were at a record, despite a reactionary decline in the 4Q due to the receipt of several large orders in the 4Q of the previous fiscal year.
Orders received
Order backlog
4Q of FY2023
(Oct.-Dec.)
YoY
% change
FY2023
(cumulative)
YoY
% change
FY2023
(As of Dec. 31)
YoY
% change
Total
32,406
-16.8
144,858
+3.1
53,899
+4.4
Financial Solutions
7,387
+0.3
30,591
+7.2
7,775
-0.1
Reportable segment
Business Solutions
Manufacturing Solutions
5,201
9,321
-43.5
-13.6
20,752
46,130
-12.2
+17.5
7,877
23,114
-23.0
+26.1
Communication IT
10,496
-9.4
47,385
-3.6
15,132
-1.2
Consulting Services
2,510
+19.5
8,990
+17.7
1,364
+38.5
Custom System Development
7,069
-16.4
29,090
-13.4
5,135
-26.2
Service
In-house Software
7,458
-34.6
28,310
-6.8
10,771
-15.2
category
Third-party Software
10,097
-12.6
53,125
+20.7
27,089
+22.3
Outsourcing, Operation and Maintenance Services
3,814
+10.3
17,683
+1.7
4,086
+16.4
IT Equipment Sales and Others
1,455
-26.3
7,659
+1.2
5,451
+2.0
(Unit: Millions of yen)
Transition of Orders Received and Order BacklogOrders in the second half declined YoY due to a reactionary drop but were up 21% from the second half of the year two years ago, maintaining the pace of growth.
(Unit: 100 million of yen)
803
Net sales
Orders received
Order backlog
720
684
638
646
645
621
565
562
533
516
538
455
473
507
454
418
413
409
375
384
314
325
350
698
727
614
675
514
550
536
542
577
430
479
491
Year-End Dividend for FY2023FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
H1
H2
H1
H2
H1
H2
H1
H2
H1
H2
H1
H2
Strengthen shareholder returns in light of performance trends and current financial and investment conditions.
Increased year-end dividend from 47 yen to 56 yen per share and dividend payout ratio from 40.3% to 44.4%.
Interim dividend
Year-end dividend
Total
Dividend payout ratio
FY2022
33 yen
45 yen
*
44 yen
47→ 56 yen
40.3%→44.4％
91→ 100 yen
FY2023
40.3％
78 yen
*Change from dividend forecast revision announced on July 31, 2023
INDEX
Outline of financial results for FY2023
- Forecasts for FY2024
Progress of Medium-term Management Plan
Note:
Forecasts of business results in this document are based on judgments and assumptions made in light of industry trends, customer conditions, and other information currently available, and are not intended as a guarantee that they will be achieved. Actual results may differ from these forecasts due to uncertainties inherent in forecasts, changes in internal and external conditions, and other factors.
17
Earnings Forecasts for FY2024Net sales are targeted at 153 billion yen, exceeding the initial target of the medium-term management plan.
Operating profit is targeted at 22.5 billion yen, as per the revised target, after taking into account an increase in salary levels.
Operating margin is expected to remain flat year on year - below the revised target of 15%,
mainly due to increased investment in human resources.
FY2024 (cumulative) | YoY | |||
FY2023 (cumulative) | Variance | % change | ||
Net sales | 153,000 | 142,608 | +10,392 | +7.3 |
Operating profit | 22,500 | 21,028 | +1,472 | +7.0 |
Operating margin(%) Ordinary profit | 14.7 22,500 | 14.7 21,244 | -0.0p +1,256 | - +5.9 |
Profit attributable to owners of parent | 15,700 | 14,663 | +1,037 | +7.1 |
Number of employees* （people) | 4,000 | 3,652 | +348 | +9.5 |
(Unit: Millions of yen)
Target of the medium-term management plan (announced on July 31, 2023) |
150,000 |
22,500 |
15.0 |
* at the end of the fiscal year
Factors for Increase/Decrease in Operating Profit for FY2024Impact of increase in gross profit margin +4.5
(Unit: 100 million of yen)
Operating profit
210.2
Operating profit
225.0
Effect of Increase in sales +37.7
Increase in SG&A expenses -27.4
Personnel, recruiting, and education expenses
+ approx. 1.2 billion yen
Sales, sales promotion and advertising
+ approx. 1 billion yen
R&D expenses
+ approx. 300 million yen
Outsourcing expenses
+ approx. 300 million yen
Gross profit margin target 36.6% YoY +0.3p
Focus on expanding sales of
In-house Software and curbing unprofitable projects
YoY
+14.8
FY2023 (cumulative) result
FY2024 (cumulative) forecast
Net Sales Forecasts by Reportable Segment/Service Category for FY2024Net Sales by Reportable Segment
FY2024 (cumulative) | YoY | |||
FY2023 (cumulative) | Variance | % change | ||
Financial Solutions | 33,000 | 30,598 | +2,402 | +7.9 |
Business Solutions | 25,000 | 23,107 | +1,893 | +8.2 |
Manufacturing Solutions | 45,000 | 41,118 | +3,882 | +9.4 |
Communication IT | 50,000 | 47,784 | +2,216 | +4.6 |
(Unit: Millions of yen)
Net Sales by Service Category
FY2024 (cumulative) | YoY | |||
FY2023 (cumulative) | Variance | % change | ||
Consulting Services | 9,500 | 8,611 | +889 | +10.3 |
Custom System Development | 32,000 | 30,913 | +1,087 | +3.5 |
In-house Software | 34,000 | 30,237 | +3,763 | +12.4 |
Third-party Software | 53,000 | 48,184 | +4,816 | +10.0 |
Outsourcing, Operation and Maintenance Services | 17,000 | 17,108 | -108 | -0.6 |
IT Equipment Sales and Others | 7,500 | 7,553 | -53 | -0.7 |
(Unit: Millions of yen)
Earnings Forecasts for the First Half of FY2024(Unit: Millions of yen)
First half of FY2024 (Jan. - Jun.) | YoY | |||
First half of FY2023 | Variance | % change | ||
Net sales | 74,000 | 69,849 | +4,151 | +5.9 |
Operating profit Operating margin (%) | 11,000 14.9 | 10,652 15.3 | +348 -0.4p | +3.3 - |
Ordinary profit | 11,000 | 10,785 | +215 | +2.0 |
Profit attributable to owners of parent | 7,700 | 7,446 | +254 | +3.4 |
Ratio to full year (%) |
48.4 |
48.9 - |
48.9 |
49.0 |
Net Sales by Reportable Segment
First half of FY2024 (Jan. - Jun.) | YoY | |||
First half of FY2023 | Variance | % change | ||
Financial Solutions | 16,000 | 14,721 | +1,279 | +8.7 |
Business Solutions | 12,300 | 11,653 | +647 | +5.6 |
Manufacturing Solutions | 21,700 | 19,795 | +1,905 | +9.6 |
Communication IT | 24,000 | 23,678 | +322 | +1.4 |
(Unit: Millions of yen)
Net Sales by Service Category
First half of FY2024 (Jan. - Jun.) | YoY | |||
First half of FY2023 | Variance | % change | ||
Consulting Services | 4,600 | 3,999 | +601 | +15.0 |
Custom System Development | 16,000 | 15,738 | +262 | +1.7 |
In-house Software | 16,400 | 15,054 | +1,346 | +8.9 |
Third-party Software | 25,300 | 23,059 | +2,241 | +9.7 |
Outsourcing, Operation and Maintenance Services | 8,000 | 8,216 | -216 | -2.6 |
IT Equipment Sales and Others | 3,700 | 3,780 | -80 | -2.1 |
(Unit: Millions of yen)
Dividend Forecast for FY2023Plans to pay an annual dividend of ¥108 per share and a payout ratio of 44.8% in 2024, aiming to increase the dividend for the 12th consecutive year.
63
39.1%
39.6%
40.3%
40.7% 40.8%
40.3%
34.6%
35.6%
38.2%
25.0%
26
22
20
32
52
50
※
56
78
77
92
100
108
Annual dividend per share (yen)
44.4% 44.8%
FY2000-FY2012
FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
(forecast)
*Two-for-one stock split in FY2021.
INDEX
Outline of financial results for FY2023
Forecasts for FY2024
24
- Progress of Medium-term Management Plan
1
Business Domain Expansion
Hiraku
Accelerate existing core business growth
Strength and establish customer contact reform business
Strength and establish corporate and social
transformation business
2
3
New Capability Acquisition
Tsukuru
Earnings Model Innovation
Kasegu
Management Foundation Innovation
Sasaeru
Strengthen human resources
Strengthen consulting
Strengthen cutting-edge technology
Enhance in-house software and thirdparty software
Promote diversification of business models
4
Promote sustainability management
Innovate management foundation
FY2024 Medium-term Targets
Net sales
Operating profit
¥150.0 billion
¥22.5 billion
※
2021-2024 CAGR
10.2%
18.0%
Operating margin
ROE
15%
18%
※
※
Growth Investments
Human resources
Technology
Financing/M&A
4,200 employees (consolidated basis, as of Dec. 31, 2024)
¥17.0 billion (3-year cumulative)
¥10.0 billion or more (3-year cumulative)
Medium-term Management Plan (2022-2024) -Strategic Framework-
DENTSU SOKEN X(Cross) Innovation 2024
While accelerating growth through deepening X Innovation, we will build a new foundation for the DENTSU SOKEN Group focused on our long-term goal for 2030
Priority Measures
Quantitative Targets
* Quantitative targets were revised on July 31, 2023
Progress in Medium-term Management Plan 1. OverviewBoth net sales and operating profit are expected to exceed the plan, maintaining a double-digit growth pace.
Operating margin was slightly below the revised target, but this was mainly due to investment in human resources.
ROE is expected to achieve the revised target.
Net sales
Operating profit/margin
ROE
(Unit: 100 million of yen)
1,530
(Unit: 100 million of yen)
12.3%
Med.-term Target Initial 12.0%
Revised 15.0%
14.4% 14.7% 14.7%
225
18.1% 18.7% 18.0%
1,006
1,086 1,120
1,290
1,426 Med.-term Target
Initial 1,500
CAGR
10.9％
10.0%
100
11.2%
121
137
185
210 Med.-term Target
Initial 180
Revised 225 11.8%
CAGR
Medium-term Management Plan
Medium-term Management Plan
FY2019 FY2020 FY2021 | FY2022 FY2023 FY2024 (Forecast) |
Medium-term Management Plan |
FY2019 | FY2020 | FY2021 | FY2022 | FY2023 FY2024 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 FY2024 |
(Forecast) | (Forecast) |
18.0％
12.9%
14.3%
Med.-term Target Initial 15.0%
Revised 18.0%
Progress in Medium-term Management Plan 2. Reportable SegmentFinancial Solutions, Business Solutions, and Manufacturing Solutions are expected to exceed the medium-term target, while Communication IT is expected to fall short of the mid-term target mainly due to the peak out for the Dentsu Group.
(Unit: 100 million of yen)
Medium-term target for FY2024
Net sales forecast for FY2024
Variance
Financial Solutions
310
330
+20
Business Solutions
220
250
+30
Manufacturing Solutions
420
450
+30
Communication IT
550
500
-50
3
3
FY2019 FY2020 FY2021
Medium-term Management Plan
FY2022 FY2023
5
14
23
Medium-term Targets
over 100 ）
(3-year cumulative)
Human resources
Further strengthen recruitment through rebranding and personnel system reform measures, etc.
4,000 people
(Forecast as of December 31, 2024)
Technology
Toward the Next Medium-term Management Plan, strengthen investment in In-house Software.
11.6 billion yen
(Three-year cumulative forecast)
Financing and M&A
No M&A results at this time, only minority investments.
800 million yen
（Total investment for the two years）
（3か年累計
（3か年累計
（Unit: people） Medium-term Targets
(Unit: 100 million of yen)
(Unit: 100 million of yen)
+9.5%
4,200
Medium-term Targets
170 ）
(3-year cumulative)
+4.6%
+7.8%
3,652
4,000
asset
23
expense
15
FY2019 FY2020 FY2021
Medium-term Management Plan
FY2022 FY2023 FY2024
(Forecast)
20
17
17
19
9
13
10
14
16
Searching for and scrutinizing M&A opportunities, including those that are larger than our investment target
25
consolidated
2,879 3,117
non-
3,240 3,388
2,039
2,400
consolidated 1,633
1,519
1,697
1,842
FY2022 FY2023 FY2024
(Forecast)
FY2019 FY2020 FY2021
Medium-term Management Plan
B
Strengthen human resources - enhance recruitment, improve employee treatment
Strengthen and expand consulting and think tank functions
Development of generative AI solutions
New Capability Acquisition (Tsukuru)
ChatGPT environment construction for municipalities "minnect AI assist"
ChatGPT solution "Know Narrator"
FY2023
results
C
Earnings Model Innovation (Kasegu)
Continued investment in POSITIVE, Ci*X, and iQUAVIS enhancements
Strengthen partner network
A
Business Domain Expansion (Hiraku)
Strengthen approach to large clients
Expand business in the area of customer contact reform
Expand business in the area of social innovation support
Support for Digital Garden City National Concept grant applications: 14 municipalities
Provision of the city OS solution "CIVILIOS": 7 municipalities
FY2023
results
| |
| |
FY2023 results |
|
| |
|
D Management Foundation Innovation (Sasaeru)
Change of trade name and branding enhancement
Renewal of management structure
Strengthening of sustainability initiatives
Newly included in FTSE4Good Index Series, FTSE Blossom Japan Index, and MSCI Japan Empowering Women (WIN) Select Index
Issued "Integrated Report 2023"
FY2023
results
Announced a renewal of the management team to accelerate a generational change in management and the implementation of the Group's growth strategy.
Date of Birth July 13, 1971
Education
March 1995 Graduated from Faculty of Science and Technology,Sophia University
Career Summary
April 1995 Joined the Company January 2018 Executive Officer
January 2019 Senior Executive Officer, General Manager of the Manufacturing Industry Business Operations January 2020 Senior Executive Officer, Deputy Segment Director of the Manufacturing Solutions Segment
and General Manager of the Manufacturing Industry Business Operations
January 2021 Managing Executive Officer, Segment Director of the Manufacturing Solutions Segment and General Manager of the Manufacturing Industry Business Operations
January 2022 Managing Executive Officer, and in charge of the Manufacturing Solutions Segment and the Communications IT Segment
January 2023 Senior Managing Director, Head of our Business (current position)
Change of Representative Director (scheduled for March 22, 2024)
President and Representative Director CEO & COO
Hirohisa Iwamoto
*Scheduled to assume office following a resolution at the 49th General Meeting of Shareholders scheduled to be held on March 22, 2024, and a resolution at the Board of Directors to be held on the same day.
Appointment of Executive Officers and Fellows (January 1, 2024)
Appointed 17 Executive Officers and 4 Fellows,
including 2 Executive Officers and 1 Fellow, the first women in the Company.