Message from President
The Internet of Limitless Potential
Upon taking office as president and CEO in 2012, I quickly moved to implement our Smartphone First policy initiative. In response to the shift in Internet usage patterns arising from the widespread proliferation of smartphones, the entire Company resolved to swiftly optimize each of our existing PC-based services for smartphones, in addition to developing new mobile-based services and applications. As a result, smartphones accounted for more than 60% of Yahoo! JAPAN's daily unique browsers (DUBs)1 and over half of total advertising- and domestic e-commerce related transaction value in fiscal 2016, the year ended March 31, 2017. In rising to the challenge posed by the mobile Internet revolution, the Company rejuvenated itself and emerged even stronger.
Next, we launched a new e-commerce strategy in 2013. Prior to commencing this new strategy, Yahoo! Shopping's transaction value growth rate lagged that of rival sites owing to a relatively small seller base and limited item listings. Thanks to our strategic decision to eliminate monthly store tenant fees and transaction-based system-use fees across the board, Yahoo! Shopping is now Japan's No. 1 site in terms of both number of stores and number of item listings2. Moreover, our shopping business posted record-high transaction value and revenues in fiscal 2016. Meanwhile, our credit card business, which we have aggressively cultivated since 2015, is recording subscriber and transaction value growth rates that exceed those even of our robust shopping business.
The Company's progress to date is grounded on prescient strategic responses to a series of challenges, including nimble user-oriented service development, rapid service optimization for mobile access, e-commerce business model reconfiguration, and aggressive cultivation of financial and payment-related services. Our next challenge is to analyze huge volumes of user data collected during the course of providing more than 100 services via Yahoo! JAPAN in an effort to better understand our huge user base with the goal of more effectively providing increasingly personalized, useful services.
Confident in our ability to further exploit the seemingly limitless potential of the Internet, we are committed to further strengthening Yahoo! JAPAN's position as a problem-solving engine indispensable to the lives of all of our stakeholders.
1. Including both application¬-based and browser-based access, with each access mode recorded separately
2. As of March 31, 2017, based on an industry study conducted by Yahoo Japan Corporation