A dedication to stability with growth through consistent progress backed by the pursuit of ambitious strategic goals
The powerful recovery of the performance of the core Karaoke Business continued in the past fiscal year. Four years ago we made a big change to our strategy for opening new locations. Previously, we used mainly roadside locations in areas other than Japan’s major metropolitan areas. We shifted our focus to urban locations near railway stations and in prime shopping areas. Knowledge gained from years of experience in smaller cities of Japan gives us the expertise to operate the Manekineko karaoke business at a very low cost. Offering reasonable prices has enabled this business to attract increasing numbers of customers. This gives us a solid positive business cycle for the Karaoke Business. As a result, we now have a business model for profitable operations at all karaoke locations, both in metropolitan areas and other regions of Japan, by accurately reflecting the characteristics of each local market.
The Curves Business has a much stronger foundation for growth because of our March 2018 acquisition of Curves World Headquarters. In Japan, Curves can take on challenges that are outside the previous boundaries of its operations. To utilize this greater freedom, Curves is developing new business formats. The first step in this direction was the November 2018 opening of a Men’s Curves fitness club to gauge the market for this business.
My management philosophy places priority on the ability to succeed during periods of slow growth by making steady progress day after day. If we continue to focus our energy on accomplishing our goals regardless of the difficulties, I believe we will have an opportunity to increase our earnings rapidly. Revising our strategy for opening karaoke locations four years ago shifted this business to a trajectory of a fast recovery and growth. Now Curves plans to use the acquisition of Curves World Headquarters as an opportunity to advance to the next stage of growth. I think these opportunities emerged precisely because of our hard work and steady progress over many years.
I am confident that the Koshidaka Group is well positioned to aim for even higher goals in the coming years.