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Full Year 2021 Seibu Holdings Inc Earnings Call Transcript
This is Takashi Goto, President of Seibu Holdings. I will first give you an overview of today's presentation. Since last year, COVID-19 has had a devastating effect with a significant impact on economic activities. The Seibu Group is facing an extremely dire business environment due to the decline in demand from less people going out as well as other factors. In the year ended March 2021, we booked a net loss of JPY 72.3 billion, the largest since the establishment of Seibu Holdings.
In fiscal year 2020, we concentrated our efforts on overcoming this crisis. While maintaining the highest level of considerations on the safety and security of our operations, we have been implementing various measures with speed, such as cutting director compensation, which has continued to this day since last April; no annual stock compensation incentives for 2 consecutive years; cuts in employee bonuses; curbing nonurgent and nonessential investments and expenses, all with the aim of minimizing the negative effect of the pandemic on our
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