Message from CEO
Our way of life has changed drastically due to the outbreak of the COVID‑19 after 2020. The hotel industry, of which we are a part, faced an unprecedented crisis, but with a steady recovery in domestic and international hotel demand, we are now amidst to a new growth stage for the post pandemic, and the time has come for an evolutional change to tactically accommodate to new travel and tourism behaviors.
Even in the midst of the headwind of the pandemic, Polaris Group, in cooperation with Star Asia Group, has been proactively working to strengthen our resilience to the deterioration of the external environment by accelerating new hotel openings, acquiring hotel properties, improving its financial position, reforming its profit structure, reducing operating costs, and implementing other strategies, while accumulating know-hows, capital, and human resources to accelerate new further growth.
In March 2023, Red Planet’s hotel business in the Philippines was newly added to our portfolio, and we have achieved growth to become a global hotel operator with four brands: “KOKO HOTEL”, “Best Western”, “Value the Hotel”, and “Red Planet”.
We will continue to promote agile, flexible, and rapid strategy execution, which is one of our strengths, by combining the hotel operation base which we have cultivated over our more than 100-year history with the expertise of Star Asia Group, which has a wealth of experience in real estate investment management and is committed to high profitability.
As we enter into a new phase of evolution, we will take on a variety of challenges, such as aggressively developing new hotels under management, strengthening our hotel brands, creating synergies with overseas hotels, and further promoting our sustainability initiatives, with the goal to accurately grasp changes in markets and trends.
Our journey will continue to strive for sustainable growth and medium- to long-term enhancement of corporate value as a company that provides value to all stakeholders, including customers, shareholders, employees, business partners, creditors, and local communities, while further reinforcing and developing our existing “Guest First” hospitality to our guests and our mission of “Maximizing Shareholder Value” to investors.
We look forward to your continued support.
Polaris Holdings Co., Ltd.
President & CEO, Takahiro Tsujikawa
|Company name||Polaris Holdings Co., Ltd. |
(Previous company name: Kachikaihatsu Co., Ltd.)
|President & CEO||Takahiro Tsujikawa|
|Location||Yamazaki Kyodo Building,|
|Date founded||Sepember 1912|
|Capital||12,154,750 JPY (as of March 31, 2023)|
|Fiscal year end||March 31|
|Board Members||President & CEO|
Malcolm F. MacLean
Audit Supervisory Board Member
Audit Supervisory Board Member
Audit Supervisory Board Member
Audit Supervisory Board Member
|Number of employees||358(Consolidated, as of March 31, 2023)|
|Group Company||FinoHotels Co., Ltd.(100% Shareholder)|
Value The Hotel Co., Ltd.(100% Shareholder)
KOKO Hotels Co., Ltd.(100% Shareholder)
Polaris Asia Co., Ltd.
Red planet Holdings (Philippines) Limited
|2023||Acquired shares of Red Planet Holdings (Philippines) Limited, Subsidiarized the company and its 12 subsidiaries.|
|2022||changed from the Tokyo Stock Exchange 2nd Section to the Tokyo Stock Exchange Standard Market|
|2021||Changed the company name from Kachikaihatsu Co., Ltd to Polaris Holdings Co., Ltd.|
|2019||Star Asia Group becomes the parent company of the company through the issuance of new shares through a third-party allotment|
|2018||Capital and business alliance established with Star Asia Group|
|2016||Fino Hotels, a subsidiary of the Company, merges with Kaiteki Kikaku, another subsidiary of the Company|
|2015||Tokyo Stock Exchange changed its industry sector from “Real Estate” to “Service Industry” The Company’s subsidiary, Value the Hotel, merges with Value the Hotel Fukushima, another subsidiary of the Company|
|2014||Subsidiarized Premier Resort Operations Co., Ltd.|
|2013||Value The Hotel (4 hotels) grand opening Moved the head office from Kanda-Konyacho, Chiyoda-ku, Tokyo to Iwamoto-cho, Chiyoda-ku, Tokyo|
|2012||Establishment of Value the Hotel Miyagi Co., Ltd. Establishment of Value the Hotel Fukushima Co., Ltd. Value The Hotel Sendai-Natori (1st hotel) grand opening Launch of the 2nd Project to support the recovery from the Great East Japan Earthquake|
|2011||Launch of the 1st Project to support the recovery from the Great East Japan Earthquake Changed the company name from Hokkaido Jomo Co., Ltd to Value the Hotel Co., Ltd.|
|2010||Moved the head office from Yurakucho, Chiyoda-ku, Tokyo to Kanda Konyacho, Chiyoda-ku, Tokyo|
|2009||Establishment of Kinuura Grand Hotel Co. Ltd. The Company’s subsidiary, Fino Hotels, Inc. merged with J.H.M., another subsidiary of the Company Moved the head office from Maebashi, Gunma Prefecture to Chiyoda-ku, Tokyo|
|2008||Subsidiarized Fino Hotels Co., Ltd.|
|2008||Changed the company name from Jomo Co., Ltd to Kachikaihatsu Co., Ltd.|
|2001||Changed the company name from Jomo-Nenshi Co., Ltd to Jomo Co., Ltd.|
|1961||Listed on the 2nd Section of the Tokyo Stock Exchange|
|1912||Founded as Jomo-Nenshi Co., Ltd.|
Self-awareness and responsibility as a public company
While the pursuit of profits is the natural mission given to all companies, the Polaris Holdings Group will seek not only to fulfill this mission, but also to fulfill its corporate social responsibilities (CSR) as a public company.
Since making its stock available for over-the-counter trading in 1959, the Group has forged a long history supported by countless customers, business partners, shareholders, and employees. We believe that it is our mission as a group to perpetuate appropriate decision-making based on the spirit of CSR, and the timely provision of services, catering to the needs of society as a whole, which has always supported the Group.
The Group asks all staff who support its corporate activities to cultivate and improve their volunteer spirit. The four elements of volunteering are autonomy, gratuitous service, altruism, and creativity. The Group believes that these are the fundamental principles for conducting sound social activities. We also believe that the acquisition of volunteer spirit by all staff provides a concrete guarantee of CSR and improves the Group’s corporate value and the reason for its existence.
Corporate Code of Conduct
・We will provide customers with safe and reassuring spaces.
・We will provide customers with soothing, peaceful and relaxing times.
・We will provide customers with services that bring a smile to their faces.
Polaris Group Hotels 5 Promises
- We will welcome our guests with warm, heartfelt smiles.
- We will offer sincere and wholehearted hospitality.
- We promise to provide service that anticipates the needs of guests by being visually and mentally attentive.
- We will respond appropriately and promptly, without giving ambiguous answers.
- We will provide services that are thrilling and emotionally moving to guests.
Code of Corporate Ethics
Code of Corporate Ethics
- In all areas of business, we will comply with laws and regulations (including international rules), etc., along with social norms and internal regulations, and conduct our business activities with the aim of being an ethically superior company.
- We will strive to earn the trust of consumers by developing and providing products and services that are useful to society.
- We will engage in fair, transparent, and free competition and transactions with other companies and related organizations in the same industry. In addition, we will maintain sound and normal relationships with national and local government, and endeavor to earn the trust and confidence of stakeholders.
- Based on our recognition of the fact that companies are also members of society, we will strive to preserve the environment and contribute to society through our business activities. We will also confront antisocial forces and organizations that pose a threat to the order and safety of civil society as a corporate organization, and will not respond to any illegal or unreasonable demands whatsoever.
- Overseas, we will respect local cultures and customs and engage in activities that contribute to the development of each country and region.
- As a company that is trusted by its customers, business partners, local communities, and investors, we will disclose corporate information in a fair, timely and appropriate manner.
- We will respect the personality and individuality of each employee, and endeavor to ensure a good working environment with consideration for human rights and safety.
- Our top-level management will recognize that achieving the realization of the spirit of this Code of Corporate Ethics is his (or her) role, and will take the lead in seeking to develop and improve internal systems and thoroughly implement corporate ethics. Additionally, when a situation that violates this Code of Corporate Ethics arises, the top-level management will work to resolve the problem in person by investigating the causes, endeavoring to prevent re-occurrences, and taking strict measures that include him or herself.
1. Basic Approach to Corporate Governance
The Polaris Holdings Group has built a corporate governance system designed to achieve sustainable growth and medium to long-term enhancement of corporate value, and to provide value to all stakeholders, including shareholders, investors, customers, employees, business partners, creditors and local communities.
In order to achieve sustainable growth and increase corporate value in the medium to long term, the Group has established an organizational structure that ensures soundness of management, enables prompt and strategic decision-making and execution of business processes, and discloses information to stakeholders in a timely and appropriate manner.
2. Outline of Management Structure
Polaris Holdings is a company with an Audit and Supervisory Committee.
We have established a Board of Directors, Audit and Supervisory Committee, and Accounting Auditor(s) as statutory organizational bodies. Other organizational structures established in addition to these statutory bodies include the Internal Audit Office and Risk Management Committee / Compliance Committee.
3. Main Roles of Each Body
|Board of Directors||The Board of Directors consists of nine directors. |
・Make decisions regarding basic policies for the Group’s business strategy
・Supervise the execution of business processes by directors
|Audit & Supervisory Committee||The Audit and Supervisory Committee consists of three directors who are committee members. (One is a full-time Audit and Supervisory Committee member, and the other two are independent outside Audit and Supervisory Committee members.) |
・Audit management, including the execution of duties by directors
|Accounting Auditor(s)||Seiei Audit Corporation is the Group’s official accounting auditor. |
・ Give opinions on the appropriateness and legality of financial statements, etc.
|Internal Audit Office||The Internal Audit Office has been established as an organization under the direct control of the President and Representative Director. |
・Conduct internal control audits
・Make proposals on the appropriateness of business operations
|Risk Management / Compliance Committee||The Risk Management / Compliance Committee have been established as organizational structures responsible for risk management and compliance. |
・Risk countermeasures ・Promote lawful and fair corporate activities throughout the whole Group
・Make proposals and report to the Board of Directors on group-wide risk management and compliance-related strategies
|Sustainability Committee||The Sustainability Committee plans and formulates basic policies and strategies for sustainability, ESG, SDGs, etc. in the Group, receives reports on the status of activities from each department, deliberates, and proposes and reports to the Board of Directors.|
・Planning and formulation of basic policies, strategies, etc., concerning sustainability, etc.
・Receipt of reports from each department and deliberation
4. Initiatives to Enhance Corporate Governance
Meetings of the Board of Directors which are attended by directors (including Audit and Supervisory Committee members) are held at least once every months to determine basic management policies, matters stipulated by laws and regulations, and other important matters relating to business management. The Board also supervises the execution of business operations by reviewing the progress of each division / department.
Information Disclosure Standards
The Group strives to secure the trust and understanding of its shareholders and investors by complying with the following items, and by maintaining autonomy, timeliness, fairness, and transparency in all of its IR activities.
Information Disclosure Methods
Information that qualifies under the Timely Disclosure Rules is disclosed on the Tokyo Stock Exchange’s TDnet (Timely Disclosure Network) information disclosure system, then promptly posted on the Group’s website. Other information that does not qualify under the Timely Disclosure Rules will also be widely disclosed through posting on websites, etc.
Prevention of Insider Trading and Fair Disclosure of Information
The Group encourages thorough dissemination, awareness and understanding of important company information among all Group employees with the aim of appropriately managing such information, preventing insider trading, and ensuring fair disclosure of information.
Handling of Earnings Forecasts and Future Information
Among the earnings forecasts, strategies, policies, and targets, etc., disclosed by the Group, those which are not historical facts are statements regarding the Group’s future outlook. These are based on information obtained by the Group at the time; or on plans, expectations or judgments based on certain assumptions which are judged to be reasonable. Actual business results, etc., may differ significantly due to various risks and uncertainties.
To prevent the leakage of financial results information and ensure fairness of information disclosure, the Group will maintain a certain period of silence (a quiet period) until the announcement date for financial results for each quarter. During quiet periods, the Group declines to answer questions or comment with regard to financial results. Even during quiet periods, however, when it is expected that actual results will differ significantly from previously forecast results, the Group will disclose information as appropriate in accordance with the Timely Disclosure Rules.
A new plan is being formulated.
Address 1-12-3 Iwamotocho, Chiyoda-ku, Tokyo 101-0032 Japan
FinoHotels Co., Ltd.
Value The Hotel Co., Ltd.
KinuuraGrandHotel Co., Ltd.
KOKO Hotels Co., Ltd.