We are pleased to announce the announcement of financial results for the first quarter of the fiscal year ending September 30, 2023 for the 17th term.
Positioning this term as the 3rd term of the 2nd stage "Restart" after listing, by implementing the medium- to long-term growth strategy "AirTrip 5000" and the growth strategy for FY09/23 "AirTrip 'Restart'" from this term, consolidated transaction volume was 18.2 billion yen (170% year-on-year), consolidated sales were 5.03 billion yen (159% year-on-year), and operating income was 579 million yen (61% year-on-year). We achieved real increases in sales and profits compared to the same period of the previous fiscal year.
We have made good progress with respect to the initial earnings forecast, with a progress rate of 29.5% against the sales forecast of 17 billion yen and a progress rate of 57.9% against the operating profit forecast of 1 billion yen.
In the AirTrip Online Travel Business, boosted by the growing demand for domestic travel triggered by the nationwide travel support, we will steadily capture the growing demand for domestic travel by continuing AirTrip branding measures in various directions and strategic marketing investment to respond to the increase in travel demand, which drives the entire business portfolio as a pillar of earnings.
Existing business areas other than the AirTrip Online Travel Business [IT Off-shore Development Business, Inbound Travel Agency / Wi-Fi Rental Business, Media Business, Investment Business (AirTrip CVC), Regional Revitalization Business] are all performing well and steadily. We are promoting further business portfolio construction and strategically building and strengthening the “AirTrip Economic Zone”.
In particular, in the Investment Business (AirTrip CVC), the “AirTrip CVC Report Vol.4” was released, and out of the cumulative investment of 89 companies and the cumulative investment of 7.1 billion yen, the total collected/recent valuation was 19.4 billion yen. The ratio has been steady at 274%, and we aim to expand the "AirTrip Economic Zone" by aggressively investing in niche growth areas.
In the future, we expect a further increase in domestic and international travel demand due to the transition to type 5 of the new coronavirus. AirTrip Group aims for endless growth by continuing to grow its five existing businesses outside of AirTrip Online Travel Business and building a strategic business portfolio.
Please see our IR page for details.