I would like to express my deepest gratitude to all our shareholders and investors for continuing to show exceptional understanding and support for Snow Peak's corporate activities.
In FY2023, sales and profit decreased year on year, with net sales of 25.7 billion yen, down 16% year on year, and operating profit of 0.9 billion yen, down 74% year on year.
People grew interested in outdoor activities under movement restrictions. With the end of COVID pandemic, however, people's interest has shifted to other leisure activities. Consequently, the rise in demand for outdoor goods has peaked and growth began to slow.
In this environment, in the Japanese market, we continued to focus on cultivating new customers, including opening new stores and new campgrounds. It also worked on increasing experience-based spending (such as campgrounds and camp events) and continued initiatives to increase customer engagement. In overseas markets, we concentrated on strengthening sales channels and establishing new locations for experiencing camping, aiming to expand brand recognition at all locations.
We are also advancing sustainability initiatives to address environmental problems and solve social issues through our business activities.
We believe that, as technology advances, the need for camping as a true opportunity to experience fulfilling moments in nature will grow. We believe in the power of camping to heal people and recover humanity. We are sure that the power of camping will positively impact individuals, families, friendships, communities, local communities, the country and the planet as a whole.
At Snow Peak, we will continue to help create a prosperous future for our customers, shareholders, and other stakeholders and build a sustainable society.
We appreciate your continued support as we take on new challenges at Snow Peak.
