◎This slide shows our financial platform.
◎As shown at the top of the slide, we have earned an “A” credit rating through our years of cumulative favorable performance. Moving forward, we will promote both our growth strategy and a financial soundness while also increasing stock value per share.
◎This is a review concerning our financial and capital deal in August 2017. This objective called for simultaneously promoting both business growth and recapitalization. We secured growth capital for aircraft investments, the driving force of our revenue increase, while shifting to a strategy of improving capital efficiency by conducting a share buyback.
◎For this strategy, we chose restricted CB designed to control dilution to take our existing shareholders into consideration.
◎The share buyback will conclude by the end of March 2018 and over the medium- to long-term we will aim to increase capital productivity by maintaining an appropriate balance between shareholders’ equity and profit.
◎Please see page 16.