We are pleased to announce our financial results for the second quarter of our 16th fiscal year ending September 30, 2022.

 

In the second quarter, through the implementation of "AirTrip Re-start'" growth strategy, business earnings in each business area were steadily accumulated, and operating income for the first and second quarter cumulative period reached a real record high of 1.47 billion yen (real profit increase in terms of business), (during the second quarter of the previous fiscal year, there was a gain of approximately 0.6 billion yen from the deconsolidation of Hybrid Technologies, which was included in the previous fiscal year's figures, resulting in a decrease in both revenue and profit on the income statement) and the company is performing well against the upwardly revised full-year earnings forecast announced during the second quarter.

 

AirTrip Travel Business was affected by the rapid spread of the Omicron strain during the second quarter and by the priority measures taken to prevent the spread of the disease. Nevertheless, through the continuation of AirTrip branding measures in various fields and optimal advertising in response to increases and decreases in demand, the business steadily captured potential domestic travel demand and secured stable earnings.

 

In existing business areas other than travel business [IT Off-shore Development Business, Inbound Travel Agency / Wi-Fi Rental Business, Media Business and Investment Business (AirTrip CVC)], all are performing well and steadily, centering on the Investment Business (AirTrip CVC), and we are continuously promoting diversification and restructuring of our business portfolio.

 

In particular, in the Investment Business (AirTrip CVC), our portfolio company Mental Health Technologies, Inc. (Securities code: 9218) was listed on Tokyo Stock Exchange Growth Market (formerly Tokyo Stock Exchange Mothers Market), making it our 11th IPO as our portfolio company.

By making the most of our past experience and expertise in listing, we will continue to strategically expand and strengthen "AirTrip Economic Zone", aiming to create further future returns by aggressive investment in growth areas with a high probability of an IPO.

 

In addition to the current recovery in domestic travel demand due to full lifting of priority measures to prevent the spread of the disease, we expect a resumption of Go To Travel campaign in the future. AirTrip Group aims to achieve never-ending growth by expanding earnings in AirTrip Travel Business through strategic marketing investments to meet rising travel demand toward summer and continuing growth in the four existing businesses other than travel business, and promoting diversification and restructuring of its business portfolio.