We are pleased to present this interim report on the performance of the Oriental Land Group to our stockholders and investors.
This represents my first opportunity to introduce a report on Group results since my appointment as president and COO in June 2005. The corporate mission of Oriental Land Co., Ltd. is to provide dreams, excitement, joy and comfort based on exciting, innovative concepts. Fulfilling this mission is the Oriental Land Group's raison d'etre and will lead to the complete realization of our social mission and corporate responsibility. Therefore, my management policy is centered on hospitality and places high value on people.
In considering the state of the market, we see that people's values and lifestyles are becoming increasingly diversified and sophisticated. The focus of people's desires has changed from basic necessities such as food, clothing and housing into leisure and health. It continues to evolve into a desire for intellectually and aesthetically satisfying experiences. People today are seeking lifestyles that place higher value on mental and emotional involvement.
Although we cannot definitively capture what lies at the center of the products and services provided by the Oriental Land Group, the essence of the quality we offer is action from the heart. Responding to the diversification and sophistication of people's values requires management centered on hospitality. This means placing the traditional and intrinsically Japanese sense of hospitality at the core and consistently providing services that combine this hospitability with imagination. Since people are at the center of this approach, I believe we need management that values people.
Our performance in the interim period under review resulted in year-on-year decreases in both revenues and income, and we have consequently revised our forecast for full-year business performance from initial projections. We fully recognize the challenges we face and are committed to intensify our efforts to meet them. Thank you for your continued encouragement and support as we strive to meet and exceed your expectations for the Oriental Land Group.