◎ I will start with a summary of the financial results for fiscal 2016.
◎ Demand was firm in the Air Transportation business, our main business, particularly for international passenger operations.
Consolidated revenues decreased to 1,765.2 billion yen, mainly due to the impact of a decline in both fuel surcharge revenues and the yen conversion amount for foreign currency income.
However, substantial revenue, which excludes the impact of market fluctuations, is increasing steadily.
We are seeing the benefits of our growth strategies.
◎ Looking at costs, in addition to the effect of a decline in the crude oil market and yen appreciation, we also implemented cost management initiatives. As a result, operating income was 145.5 billion yen and net income was 98.8 billion yen, representing a second consecutive year of record highs. Our operating income margin was also a record high.
◎ Dividends will be 6 yen per share, as planned.
◎ The graph on the right shows financial indicators for the past four years.
Expanded income from international operations has resulted in a business structure that is able to stably achieve over 100 billion yen in operating income.
As you can see, EBITDA is also rising to a higher level.
◎ Please turn to page 5.