This year, Accordia Golf will celebrate its 8th anniversary after beginning golf course operations under its new brand in July 2003. I would like to take this opportunity to express my gratitude to all our customers, as we would not have been able to come this far without your support.

Since its launch, Accordia Golf has continued to break with traditional practices so as to operate golf courses as a service business from the perspective of our customers. We also introduced the driving range service in May 2007, laying out the framework to support all aspects of golfers’ needs, as part of an Integrated Golf Services Business.

At the more than 130 golf courses that we are currently operating, we are striving to fully implement our four service principles (maintaining golf course conditions: providing a range of ways to enjoy the game; improving the product lineup at pro shops, and refining restaurant menus) to serve our customers better, hoping to make a day on the golf course more enjoyable. Since Accordia Golf first launched, we have endeavored to be conscious of comprehensive cost management, and this has enabled us to adequately respond to the drop in unit prices that have resulted from frugality on the part of golfers – without compromising the quality of the service that we provide to the customers that visit our facilities.

In the three years or so since we entered the driving range business, we have been engaged in stimulating demand by creating partnerships between golf courses and driving ranges that allow customers freely use both types of facilities, and these efforts are on track. Accordia Golf currently directly operates 17 driving ranges (including indoor facilities), and we have also formed partnerships with more than 600 other driving ranges that support what we are trying to do. We are also contributing to the creation of the next generation of golfers with the Accordia Golf Academy, which we are developing at company-owned driving ranges. Lessons that use actual golf courses are being received favorably, and the number of students is increasing steadily.

In the past seven years or so, the golfing lifestyle in Japan has changed dramatically. As golf became more popular among women and young people, many customers visited our golf courses in groups and couples. At the same time, the baby-boomers and older players who have been playing golf for a long time continue to enjoy their game. At Accordia Golf, we encourage all generations to make golf a part of their lifestyle, by providing a range of programs, such as the 40-U passport for younger golfers, and open annual memberships for older golfers.

We will continue to make golf in Japan more enjoyable and accessible going forward, to communicate the appeal of golf to as many people as possible.