To the Shareholders


Golf links the world!

President Nobuya Ishizaka

Golf Digest Online (GDO) finished our “Mid-term Business Plan, 2013-2015” in 2015 with record sales and profits. We were also able to cap off this final year, also our company’s 15th anniversary, by listing on the first section of the Tokyo Stock Exchange.

We continue to strengthen our core business by focusing on customer needs (Kyakushin), as well as vertical integration of a full line of golf focused services and content (Konchuu), while increasing efficiency and productivity through an all company workout effort (WorkFast). These three concepts are pillar to our day to day operational activity.

Also in 2015, we saw the growth of the smartphone channel impacting the relationship with our customers on a broader basis. We continued to invest and strengthen our capabilities to provide a more comprehensive and fulfilling mobile solution for all of our existing services, as well as new value added services specifically for these devices.

As a result, net sales were ¥18,046 million, gross profit was ¥7,372 million, operating profit was ¥828 million, ordinary profit was ¥816 million, and net income was ¥430 million, again all record highs.

We have also announced our next mid-term plan this year.We have decided 2016 will be the first year of a new “startup phase” during our 16th year as an organization.Our 2016-2018 mid-term plan is named “GDO NEXT from Scratch”, in reference to starting new from zero, as well as similar to a scratch handicap golfer,but in GDO’s case being an adept golf business professional.

In fiscal 2016, the first of our three year mid-term business plan, our group will further strengthen our existing services focusing even more on database marketing, personalized services,rich content,technology, and mobile capabilities.Furthermore, we will look at business opportunities overseas as well as collaborate with other services and content which should be attractive to our core golf customers. In taking on all of these tasks, we have decided our annual theme in 2016 will be “Adventure”.

We would like to thank all of our stakeholders and especially our shareholders for your continued relationship and support.We have set out once again on a mission to provide the most comprehensive golf services available anywhere, for all golfers.

February 2016
Nobuya “Mike” Ishizaka
President and CEO