KEIHAN HOLDINGS CO., LTD. KEIHAN GROUP
INTEGRATED REPORT
2023
Management Principles
The Keihan Group will create a comfortable living environment and contribute to society by establishing a network of dreams, hope, and trust.
About the Keihan Group's Management Principles
With the aim of being a corporate group that continues to shine and prosper in the 21st century, the Keihan Group established the Management Principles in July 1998 in order to clearly communicate to stakeholders within and outside the group its social mission and responsibilities. While the Management Principles serve as the overarching concept, we have also established the charter of conduct as a basic policy for putting the Management Principles into practice in one's day-to-day conduct, the management philosophy as the basic premise for management decision-making to increase our corporate value, and the environmental philosophy that outlines our approach to becoming an environmentally friendly company.
Also, to give tangible shape and form to each of the aforementioned components of the Management Principles, we established the conduct guidelines, management vision, and environmental policy.
Management Principles System
Management Principles
Charter of conductConduct guidelines
P.77
Management philosophyManagement visionEnvironmentalphilosophyP.55
P.29
Environmental policy
Spirit of the founder of the Keihan Group
Eiichi Shibusawa
(Photo: Shibusawa Memorial Museum)
A business should fulfill both "morality," which is responsible for the prosperity of the nation and the whole of humanity, and "economy," which is the pursuit of corporate profit
"Harmony between morality and economy," a doctrine passed down across generations
Keihan Holdings Co., Ltd. (formerly Keihan Electric Railway Co., Ltd.) was established in 1906 by the so-called father of Japanese capitalism, Eiichi Shibusawa, as the chairman of the organization committee. Shibusawa was also instrumental in the establishment of various enterprises that contributed to the modernization of Japan, including Japan's first bank, the First National Bank, as well as companies in the electricity, gas, shipping, cement, and shipbuilding sectors. Shibusawa was enthusiastic about the establishment of railway companies essential for the modernization of Japan. All up, he was involved in the founding of around 50 companies. Of these, our company was founded based on the noble idea of laying a railway to link the 1,000-year-old ancient capital "Kyoto" with the commercial center "Osaka" through the towns and villages along the former Kyokaido (a main road), aiming not only to generate profits for the Company, but also to contribute to the development of local communities.
P.55
Influenced by the ideas in the Analects of Confucius that he avidly read in his childhood, Shibusawa advocated the doctrine of "harmony between morality and economy," in which the main duty of business is not simply the pursuit of personal gain, but also efforts that are dedicated to the interests of the public. Throughout his life, he made it the cornerstone of his management philosophy. He believed that any business should fulfill both "morality," which is responsible for the prosperity of the nation and the whole of humanity, and "economy," which is the pursuit of corporate profit. In a sense, this thinking could be considered a precursor to today's ESG principles and a philosophy that continues to be inherited by the Keihan Group.
Brand concept
Our brand concept, Good Taste of Life: Care for other persons, and create pleasant "communities and lifestyles" together, represents the value provided by the Keihan Group and is a promise to our customers. It also symbolizes our Management Principles. The business goals are what each business in the group pursues in order to realize the Keihan brand, while the nine values offered are for every employee to understand and reflect in their actions. This creates a positive cycle in which customers choose Keihan as their first choice, leading to an even stronger brand power.
Good Taste of Life
Care for other persons, and create pleasant "communities and lifestyles" together
Business goals
Keihan Group logomark
Pursuit of comfort and convenience.
The letter K in Keihan is used as a motif with the orange triangle on top representing a flag evoking an image of warmth and attractiveness, while the blue-gray triangle below symbolizes the foundation of the Keihan Group: safety and security, kindness, and thoughtfulness. The fluttering flag and the foundation together represents our brand concept: Care for other persons, and create pleasant "communities and lifestyles" together.
Building attractive communities. Support for the attainment of fulfilling lives.
"Characteristics unique to Keihan" to be focused on
New suggestion
Incorporate into each business
Witty and progressive spirit
Touch of sophisticated taste and culture
BIOSTYLE
Value offered
Compassionate feeling that colors everyday life
The words of the Keihan Group slogan clearly express our brand concept. Used in conjunction with the logo, they express our determination to create with our customers a corporate group that people can count upon and communities in which people can connect emotionally.
Transportation
Real estate Retail distribution
Leisure & service
Management principles and slogans of each group company
Keihan Group brand management
Keihan Group slogan - Cocoromachi Tsukuro (Creating communities of heartful living)
Functional value | Core value | Emotional value |
Comfort | Safety and security | Closeness |
Convenience | Kindnessɹ | Sincerity |
Usefulness | Thoughtfulness | Attractiveness |
1
KEIHAN GROUP INTEGRATED REPORT 2023
KEIHAN GROUP INTEGRATED REPORT 2023
Keihan Group INTRODUCTION
5 History of value creation
7 At a glance
9 Domestic business area
11 Financial and non-financial highlights
13 Value creation process
15 Four key themes (material issues) and promotion of sustainability
Management message
18 COO message
23 Discussion: CEO + Outside director
Strategies for value creation
29 Overview of long-term management strategy and medium-term management plan "BIOSTYLE: Deepening and Challenge"
33 Long-term management strategy: Overview of main strategies
36 Special feature
Long-term management strategy Redevelop Keihan areas
37 Business overview and medium-term management plan strategies
37 Transportation
39 Real estate
41 Retail distribution
43 Leisure & service
45 Medium-term management plan:
Strategy for GOOD NATURE STATION / Strengthening the management base
Achieving sustainable growth
48 Material issue 1: Creating businesses that contribute to solving social issues
49 KEIHAN BIOSTYLE PROJECT
51 BIOSTYLE initiatives
53 Keihan's flagship facility for BIOSTYLE
55 Material issue 2: Operations that consider the environment and social factors
63 Material issue 3: Organization and human resources that continue to grow
67 Material issue 4: Sustainable and robust management base
Foundations supporting value creation
Corporate governance
71 Basic approach
71 Corporate governance system
72 Evaluation of effectiveness of Board of Directors
72 Corporate officer compensation system
73 Corporate officers
76 Executive officers
77 Compliance
79 Risk management
79 Dialogue with shareholders and investors
DATA
81 11-year summary of financial and non-financial data
83 Financial statements
85 Group companies / ESG evaluation / Information disclosure system
86 Corporate data / Stock information
Editorial policy
The Keihan Group has published its first Integrated Report in order to communicate its story of medium-to long-term growth potential and value creation to all stakeholders, including investors. This report comprehensively introduces not only the history and business details of the Keihan Group but also the Group's vision and value creation model, long-term management strategy for the fiscal year 2030, and non-financial information such as human capital and the environment.
Coverage
Companies in the Keihan Group
Period
FY2023 (April 1, 2022 to March 31, 2023)
* Contains some information not included in the above period.
Month of issue
December 2023
* The next issue is scheduled to be released in autumn 2024.
Guidelines referenced This report references the IFRS Foundation's International
Integrated Reporting Framework, the Ministry of Economy, Trade and Industry's Guidance for Collaborative Value Creation, and the GRI Standards for sustainability reporting.
3 KEIHAN GROUP INTEGRATED REPORT 2023
Keihan Group INTRODUCTION
5 History of value creation
7 At a glance
9 Domestic business area
11 Financial and non-financial highlights
13 Value creation process
15 Four key themes (material issues) and promotion of sustainability
Keihan Group INTRODUCTION
Management message
DATA
Keihan Group INTRODUCTION
History of value creation
Eiichi Shibusawa
(Photo: Shibusawa Memorial Museum)
1906
Keihan Electric Railway Co., Ltd. established.
1910
Keihan Electric Railway services started (between Temmabashi Station in Osaka and Gojo Station in Kyoto).
1926
Spirit of the founder passed down throughout the ages
Keihan Holdings Co., Ltd. (formerly Keihan Electric Railway Co., Ltd.) was founded in 1906 by the so-called father of Japanese capitalism, Eiichi Shibusawa, as the chairman of the organization committee. Shibusawa advocated that the main duty of business should not simply be the pursuit of personal gain, but also efforts dedicated to the interests of the public. The project to build a railroad between the 1,000-year-old ancient capital "Kyoto" and the commercial city "Osaka" via the towns and villages along the former Kyokaido (a main road) not only contributed significantly to the economic aspects of the business, but it also played an integral role in the development of local communities. Over the course of the company's history, the spirit of the founder has been handed down, driving development together with society. This spirit is currently shared
throughout the group as our Management Principles. We will continue to provide value to society on the basis of the founder's spirit and aim to achieve sustainable development in the future.
1968
1982
First Chrysanthemum Figure Exhibition held at Korien.
Entered the bus transportation business.
Founding and active business management
50,000
(Ten thousand people)
40,000
30,000
We started operating a railway line between Temmabashi in Osaka and Gojo in Kyoto to resolve the problem of insufficient transportation capacity between the two cities and to contribute to regional development. We worked to bring greater convenience and safety by introducing express trains and an automated three-position color light signaling system. We also organized the first Chrysanthemum Figure Exhibition as part of our efforts to attract more passengers. With a view to developing the areas along the railway line, we invited the establishment of schools and the Naritasan-Fudoson Temple. We also entered the bus transportation business, among other projects, and worked to diversify our operations and actively expand our geographical presence.
First-stage lot sales of Kuzuha Rose Town started.
1979
Hotel Keihan Osaka (now Temmabashi) opened.
Lake Biwa cruise boat Michigan commissioned.
1985
Keihan Department Store (Moriguchi Store) opened.
Business diversification in support of post-war economic growth
In responding to demand for transportation and housing along our railway lines where the population was rapidly increasing, we stepped up efforts to bolster railway transportation capacity and develop housing. By extending the Keihan Main Line to Yodoyabashi, we successfully improved access to the city center of Osaka. We also entered the leased building business in earnest. Moreover, we began operating business hotels and department stores and improved leisure facilities by commissioning cruise boats. By diversifying our business portfolio in this way, we supported Japan's rapid economic growth during this period.
1998
Lot sales of condominium Fine Garden started in Keihan East Rose Town.
2005
KUZUHA MALL opened.
2008
Nakanoshima Line services started (between Temmabashi Station and Nakanoshima Station).
Business restructuring for renewed growth
In response to drastic changes in the business climate, including the economic downturn when Japan's bubble economy burst, we restructured our businesses by, for example, changing the real estate business model with the Keihan Group "Re-Born 21" Plan. We also formulated the management vision, "Our Challenge to 'Keihan as First Choice'," aiming for becoming a large, reputable company. The opening of the Nakanoshima Line helped revitalize the economy in the Kansai region and, in addition to enhancing value along our railway lines with the opening of the KUZUHA MALL, we also expanded our business operations in areas away from our railways by, for example, opening hotels in the greater Tokyo area.
19111950
KEIHAN GROUP INTEGRATED REPORT 2023
1961
1971
1981
1991
2001
2011
2017
2019
Premium Car (reserved seat carriages) introduced.
Toward another 100 years
In 2016 we transitioned to a holding company system with the aim of being a corporate group that can continue to achieve growth even in a challenging operating environment characterized by population decline and other factors. In addition to strengthening our four core businesses, we have worked to enhance the value of the areas along our railway lines (our point of origin), tap into the burgeoning inbound tourism market, and create content to enhance the life value of our customers. In May 2018 we formulated a new management vision for 2050. Even in the midst of drastic changes in society, we will continue to challenge ourselves to achieve further growth as a corporate group valued by society.
GOOD NATURE STATION opened.
THE THOUSAND KYOTO opened.
Keihan Group INTRODUCTION
Management message
DATA
Keihan Group INTRODUCTION
At a glance
The Keihan Group operates four core businesses across approximately 50 companies. As stated in our Management Principles, we will "create a comfortable living environment and contribute to society by establishing a network of dreams, hope, and trust" through these businesses that are closely related to everyday life. This commitment is what drives our ongoing efforts.
Business operations
Key operating companies
Operating revenue and operating income
We manage various railway services including the Keihan Electric Railway, which provides intercity, regional, and tourism transportation in
(Million yen)
• Keihan Electric Railway Co., Ltd.
80,927
the three prefectures of Osaka, Kyoto, and Shiga in the Kansai region, as well as Eizan Railway and Keifuku Electric Railroad (Randen). Our offerings also extend to bus services, such as fixed-route buses that support regional transportation, scheduled sightseeing buses, express buses, and limousine buses. Additionally, we oversee Hirakata Park, an amusement park that celebrated its 110th anniversary in 2022.
• Eizan Electric Railway Co., Ltd.
• Keifuku Electric Railroad Co., Ltd.
• Keihan Bus Co., Ltd.
Transportation
Business operations
Key operating companies
Operating revenue and operating income
Real estate
In real estate sales, we are engaged in the development of condominiums across the Kansai and Tokyo areas, as well as major regional cities such as Sapporo. We also engage in the sale and brokerage of standalone homes. Our real estate leasing business includes ownership of office buildings such as OMM in the Kansai area and the Keihan Otemachi Building and Keihan Yokohama Building in the Tokyo area. Our operations also extend to landscaping, building maintenance, and construction consulting services.
(Million yen)
• Keihan Real Estate Co., Ltd.
137,495
• Keihan Tatemono Co., Ltd.
2021
2022
2023
(Fiscal year)
Business operations
Key operating companies
Operating revenue and operating income
Our retail presence is significant, with five department stores primarily along the Keihan Railway lines. We operate suburban shopping centers like KUZUHA MALL, the urban shopping centers Keihan Mall and Keihan City Mall, and various other commercial facilities, including Frest supermarkets and our innovative MOYORI ICHI shops, which are located mainly inside and outside stations.
(Million yen)
• Keihan Department Stores Co., Ltd.
83,109
• Keihan The Store Co., Ltd.
• Keihan Ryutsu Systems Co., Ltd.
2021
2022
2023 (Fiscal year)
Retail distribution
Business operations
Key operating companies
Operating revenue and operating income
Nationally, we own and operate 21 hotels, totaling around 4,800 rooms, in the locations along our railway lines in Osaka, Kyoto, and Shiga, as well as in other areas in Tokyo and Sapporo. Additionally, we manage several facilities that serve as symbols of their region, such as the landmark Kyoto Tower, the sightseeing boats Michigan and Bianca on Lake Biwa, the Garden Museum Hiei, and the Aqua Liner that sails around the waters of Osaka.
(Million yen)
• Hotel Keihan Co., Ltd.
22,869
• Keihan Hotels & Resorts Co., Ltd.
• Biwako Kisen Steamship Co., Ltd.
-10,823
2021
-9,324 2022
2023
(Fiscal year)
Leisure & service
Business operations
Key operating companies
Operating revenue and operating income
Our GOOD NATURE STATION is a mixed-use commercial facility conceptualized around the theme of "BIOSTYLE," which contributes to a recycling-oriented society by realizing a lifestyle that is healthy, beautiful, and brings a high quality of life. We also have our own natural cosmetics brand, NEMOHAMO, as well as the patisserie RAU, among other business ventures, including card services.
(Million yen)
3,660
• Keihan Card Co., Ltd.
3,061
3,169
• Biostyle Co., Ltd.
˙Operating revenue ˔Operating income
-1,401 2021
-1,393
-1,230
2022 2023 (Fiscal year)
* The figures provided for each business include adjustments for intercompany transactions.
Other businesses
7
KEIHAN GROUP INTEGRATED REPORT 2023
KEIHAN GROUP INTEGRATED REPORT 2023
Keihan Group INTRODUCTION
Management message
DATA
The Keihan Group offers transportation networks that support the foundation of values such as safety and security, comfort and convenience, while promoting urban development and community building around our railway stations and connecting local communities, thereby expanding our business area and creating value. We will continue to present new value through our business activities in close association with local communities, and achieve sustainable development with the communities and society.
Keihan Group INTRODUCTION
Domestic business area
Main locations in Japan
˔ Keihan Yokohama Bldg. ˔ Yokohama Excellent III
˔ Keihan Otemachi Bldg.
˔ Intage Akihabara Bldg.
˔ Toranomon Hills Business Tower
˔ Eastern Bldg.
˔ Passaggio Nishiarai
(property management)
˔ Hotel Keihan Tsukiji Ginza Grande
˔ Hotel Keihan Asakusa
˔ Hotel Keihan Tokyo Yotsuya
Kanagawa
Keihan Group INTRODUCTION
Management message
Strategies | Achieving | Foundations supporting |
for value creation | sustainable growth | value creation |
Keihan Group INTRODUCTION
Financial and non-financial highlights
Financial highlights * Since the start of FY2022, we have been implementing the Accounting Standard for Revenue Recognition and other standards.
Operating revenue
(Million yen)
400,000 300,000 200,000 100,000
0
326,159
317,103 253,419 258,118 260,070
299,000
2019
2020
2021
2022
2023
2024 (Fiscal year)
(Forecast)
Net interest-bearing debt/EBITDA multiple
(Times)
20
15 10 5 0
2019
Free cash flow
16.3
Operating income/operating margin
(Million yen)
40,000
-0.5
2019
2020
2021
2022
2023
(Forecast)
˙Operating income (left axis) ˔Operating margin (right axis)
Capital expenditure
(Million yen)
50,000
40,000
30,000
20,000
10,000
0
2024 (Fiscal year)
43,631
33,261
29,324
29,712
17,193
2020
2021
2022
2023 (Fiscal year)
(%)
15
10 200,000
5 100,000
Keihan Railway passengers transported
0
2019
2020
2021
2022
2023 (Fiscal year)
Profit attributable to owners of parent/ROE
(Million yen)
(%)
-10,000
(Million yen)
10,000
5,000
0
5,670
-5,000
Non-financial highlights | |
CO2 emissions | Energy usage |
(t) | (kl) |
300,000 | 200,000 |
253,327
0
221,932
191,960
192,690
178,633
2019
2020
2021
2022
2023 (Fiscal year)
(People)
400,000
300,000 200,000 100,000
295,099
293,104
243,608
208,198
219,235
2019
2020
2021
2022
2023 (Fiscal year)
Number of Directors and ratio of Outside Directors
(People)
100,000
0
Customer Satisfaction Index*
(%)
100
80
60
40
20
0
Outside Director attendance rate at Board of Directors meetings/Audit & Supervisory Committee meetings
50.0
DATA
137,203
139,255
125,290
119,413
119,975
2019
2020
2021
2022
2023 (Fiscal year)
73.7
73.0
74.3
73.1
70.8
2019
2020
2021
2022
2023 (Fiscal year)
* This is part of Japan's largest customer satisfaction survey conducted by SPRING (Service PRoductivity & INnovation for Growth), part of the Japan Productivity Center. The data is specific to Keihan Railway.
(%)
(%)
20
15 10 5
13 13
14 14 14
50 100
40 90
30 80
7
6 6
20 70
5 5
10 60
-15,000
-11,586 2019
2020
2021
2022
2023 (Fiscal year)
-1.9
2019
2020
2021
2022
2023
2024 (Fiscal year)
(Forecast)
˙Profit attributable to owners of parent (left axis) ˔ROE (right axis)
0 0 50
2020
2021
2022
2023
2024 (Fiscal year)
˙Number of Directors (left axis) ˙Outside Directors included in total (left axis) ˔Ratio of Outside Directors (right axis)
100 100
100 100
100 100
98 97
98 97
2019
2020
2021
2022
2023 (Fiscal year)
˙Board of Directors meetings ˔Audit & Supervisory Committee meetings
Total assets/ROA
(Million yen)
1,000,000
750,000 500,000 250,000
00
2019
2020
-0.2 2021
˙Total assets (left axis) ˔ROA (right axis)
(%)
Shareholder returns
(Million yen)
10 5,000
8 4,000 3,751
6 3,000
4 2,000
2 1,000
2022
2023 (Fiscal year)
(Yen)
Number of women in leadership positions*
(People)
100 20
3,751
3,751
0 0 0
75 15
50 10
25 5
2019
2020
2021
2022
2023
2024 (Fiscal year)
(Forecast)
˙Total annual dividend (left axis) ˔Annual dividend per share (right axis)
14
18
17
15
14
2019
2020
2021
2022
2023 (Fiscal year)
* Leadership positions refers to the Assistant Director level and above
* Pertains to Keihan Holdings Co., Ltd.
Number and ratio of female employees*
(People)
10
0 0
8
6
4
2
(%)
46.7
2019
2020
2021
2022
2023 (Fiscal year)
˙Number of female employees (left axis) ˔Ratio of female employees (right axis)
* Pertains to general positions at Keihan Holdings Co., Ltd.
50
40
30
20
10
KEIHAN GROUP INTEGRATED REPORT 2023
KEIHAN GROUP INTEGRATED REPORT 2023
Keihan Group INTRODUCTION
Management message
Keihan Group INTRODUCTION
Value creation process
Under its Management Principles, the Keihan Group is advancing a long-term management strategy (targeting FY2031) centered around the theme of "promoting 'BIOSTYLE Management' that generates both social and economic value." This strategy is aimed at achieving our management vision (Vision for 2050). Through this, the Keihan Group strives to be a corporate group that continues to grow sustainably into the future while contributing to the creation of a sustainable, recycling-oriented society.
Opportunities and risks
Opportunities
Changes in the external environment
Increasing awareness of sustainability
Increasing intensity and frequency of natural disasters
Aging and declining population
Economic and social shrinkage in the areas along the railway lines
Diversification of human resources and work styles
Growing needs for a safe and secure society
ManagementPrinciples
The Keihan Group will create a comfortable by establishing a network
living environment and contribute to society of dreams, hope, and trust.
Management vision
(Vision for 2050)
Be the beautiful Keihan areas
and the global Keihan Group
Achieving a Sustainable,Recycling-oriented Society
DATA
Long-term managementstrategy (Target: FY2031)Priority themes
Creation of businesses that contribute to the solution of social issues
Operation in consideration of the environment and society
Organization and human resources that continue to grow
Sustainable and strong management foundation
With BIOSTYLE (Keihan's SDGs)* as the pivotal we aim to generate both
axis of our management and business operations, social and economic value.
(solving social issues)
Creating social value
(profit growth)
Promoting BIOSTYLEManagement
Theme
Mission of the Keihan Group
Strategy for each business
LeisureReal estate & service
Main strategies
for FY2031
Redevelop Keihan areas |
Co-create experience value |
Conserve the global environment |
Transportation
Retail distribution
Other businesses
Strengthening the management foundation
DX (digital transformation)Human resources strategy
Creating economic value
Advancing toward achieving the management vision
Contributing to the achievement of the SDGs
Management vision
Be the beautiful Keihan areas and the global Keihan Group
* What is BIOSTYLE?
A Keihan Group initiative that aims not only to enhance the value of people's lifestyles, but also develop products, services, and businesses that help solve social issues.
KEIHAN GROUP INTEGRATED REPORT 2023
KEIHAN GROUP INTEGRATED REPORT 2023
Keihan Group INTRODUCTION
Management message
Keihan Group INTRODUCTION
Four key themes (material issues) and promotion of sustainability
Four key themes (material issues)
Upon analyzing changes in the external environment the Keihan Group finds itself in, we identified opportunities and risks for management going forward. These formed the basis for the establishment of our four key management themes (material issues). For our long-term management strategy and medium-term management plan, we have formulated core strategies and business-specific strategies based on these four themes.
Sustainability within the Keihan Group
In line with our Management Principles, we believe that sustainability management for the Keihan Group involves addressing social issues through our businesses and aiming for sustainable development alongside society. To promote sustainability management, we have set key activity goals (issues) for the time being in non-financial areas based on the four key themes (material issues).
Sustainability promotion system
With the aim of enhancing the Keihan Group's corporate value in the medium to long term, we have established the Sustainability Committee to deliberate and decide on important policies and measures related to sustainability, manage their progress, and organize internal control and risk management systems. The Sustainability Committee is chaired by the Representative Director & President, COO, and includes Directors who are the General Managers responsible for the transportation, real estate, retail distribution, and leisure & service businesses, among others. The details of the discussions are regularly presented (put on the agenda or reported) to the Board of Directors.
Board of Directors
14 Directors (including 7 Outside Directors)
ReportSustainability Committee
DATA
Changes in the external environment
Opportunities and risks
Increasing awareness of sustainability Increasing intensity and frequency of natural disasters Aging and declining population Economic and social shrinkage in the areas along the railway lines Diversification of human resources and work styles Growing needs for a safe and secure society | Opportunities
Four priority themes have been established |
based on changes in the external environment and opportunities/risks Risks
|
Material issues
Four key themes (material issues) | Key activity goals related to sustainability * Including issues | As described in this report | |
S | Creation of businesses that contribute to the solution of social issues | Promoting BIOSTYLE PROJECT | P.48 - 54 |
Promoting social contribution activities that contribute to regional revitalization and strengthening communication with communities | P.52 | ||
E | Operation in consideration of the environment and society | Reduction of greenhouse gases | P.55 - 62 |
Reduction of waste and effective use of water resources | P.58 - 59 | ||
S | Organization and human resources that continue to grow | Maximizing individual ability and performance Fostering a culture of taking on challenges and creating transformation | P.63 - 66 |
S G | Sustainable and strong management foundation | Pursuing improved safety and security | P.67 - 69 P.77 - 79 |
KEIHAN GROUP INTEGRATED REPORT 2023
KEIHAN GROUP INTEGRATED REPORT 2023
COO message
Management message
18 COO message
23 Discussion: CEO + Outside director
Steering the Company towards a renewed growth trajectory with BIOSTYLE management that creates both social and economic value
Masahiro Ishimaru
Representative Director & President, COO
Keihan Holdings Co., Ltd.
KEIHAN GROUP INTEGRATED REPORT 2023
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Keihan Holdings Co. Ltd. published this content on 25 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 March 2024 04:39:03 UTC.
