Realizing Next-Generation Commercial Space
The PARCO Group’s Corporate Mission is “Creating welcoming, forward-thinking, innovative spaces that provide an enjoyable experience for customers and help our tenants prosper.” Since our foundation, we have provided creative stimulation for urban consumers through the culture business and new lifestyle proposals with a focus on fashion. These efforts have been channeled through the PARCO Group’s three social roles: “Incubation,” “Urban Revitalization,”and “Trends Communication.” We will use PARCO as a space for creativity,drawing in new talented people and expanding their circle of creativity, leading in turn to the creation of the next culture. Amid the changing times and economic climate, and even transformation in consumer trends, we are constantly advancing the creation of culture.This is the essence of PARCO and its point of origin.Since my appointment as president, I have used the phrase “evolving from our point of origin” to drive our business forward as I believe it is important to think closely about our starting point and to evolve. In 2014 we established the PARCO Group Long-term Vision to give concrete form to our Corporate Mission, aiming to be both “designers of unique offerings for 24/7 urban life” and “creative drivers of urban evolution.” Based on our strategies for realizing the PARCO Group Long-term Vision, we formulated our Medium-term Business Plan (FY2017-2021) in 2017, with a focus on increasing the unique value we provide to urban areas. Under the plan, we are promoting business selection and concentration and accelerating the pace of business portfolio reform. In fiscal 2017, we made steady progress under the Medium-term Management Plan, opening a store under the new brand PARCO_ya in Ueno, combining the operational strengths of the PARCO Group and the operational assets of the J. Front Retailing Group. We also decided to open a PARCO_ya in the Daimaru Shinsaibashi North Building. Shibuya PARCO is the origin of the PARCO Group. In fall of 2019, it will be reborn as a next-generation global shopping center. In fiscal 2018, we will continue to accelerate business promotion based on the Medium-term Business Plan, utilizing the essence generated by the New Shibuya PARCO in the Urban Complex Group and experimenting with various new initiatives. These measures are the creative essence of the New Shibuya PARCO, and by extending this essence to PARCO complexes and Group businesses throughout the country, we aim to create next-generation commercial space and further promote the evolution of the PARCO store brand. We ask for the continued understanding and support of our many stakeholders as we move forward.
PARCO CO., LTD.
President and Representative Executive Officer