Message from the President

Leopalace21's Business Is to Resolve Issues Related to People and Housing

On behalf of Leopalace21, I would like to take this opportunity to convey my gratitude to our shareholders and investors for their continued support.

The value we provide to people will also continually change in response to changes in the times

Leopalace21's business is to build necessary housing on land where demand is high, and then lease it; in other words, to provide land owners with an effective, worry-free way to use their assets, and tenants with convenient and comfortable housing. In that context, our business is to resolve issues related to people and housing. As Leopalace21 is a company that resolves issues in society, the value we provide to people through our business will also have to continually change in response to changes in people's lives, society, and the times.

Medium-term management plan "Creative Evolution 2020" (April 2017 - March 2020)

We have announced the medium-term management plan "Creative Evolution 2020" in May 2017, with a basic policy to "support continuous growth of core businesses in ways that further increase corporate value while constructing a base for growth areas."
In the core businesses, we will continue to concentrate apartment construction in the three major metropolitan areas, as well as diversify our construction lineup to include properties other than apartments. We will also concentrate our efforts in the Elderly Care Business and International Business, which are less exposed to the shrinking domestic population, and aim to be in the black in the next three years. Asset holdings will be reviewed with a view to enhancing asset and capital efficiency.

Concerning profit distribution to shareholders, we plan to pay a dividend of 22 yen per share (since net income increased from forecasts due to tax adjustments, the dividend ratio will be 28.3%, or 31.5% in terms of normal returns). We have adopted a total return ratio target in the fiscal year ending March 2020 of 50%. Share buybacks will be implemented while monitoring share price trends, and will be sourced by proceeds from asset sales.

I would like to request the continued support and encouragement of all our stakeholders.

May 2017
Eisei Miyama
President and CEO

President and CEO Eisei Miyama
President and CEO Eisei Miyama


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