Nippon Ski Resort Development (NSD) was established in 2005 and commenced ski resort operations in 2006. Over the past two decades, we have aggressively expanded our portfolio to eight premier snow resorts. Our growth has been driven by a singular vision: to create year-round destinations—spanning winter, spring, summer, and autumn—where guests can experience the profound beauty of nature. This milestone would not have been possible without the unwavering support of our stakeholders, to whom I extend my deepest gratitude.

While we have seen a surge in international visitors to our snow resorts, we are equally focused on our domestic market. By accelerating our digital strategy, we have successfully launched initiatives like the NSD Kids Program, bringing joy to countless families. Looking ahead, we are taking NSD's digital transformation (DX) to the next level. Specifically, we are deploying a web-based "flexible pricing" system—a dynamic ticketing platform powered by secure online personal authentication, offering a diverse range of ticket types and prices. This innovative approach is designed to meet varied customer needs and invite even more guests to enjoy our group and partner resorts.

We are also proactively adapting to changing climate patterns. As winters see a trend of milder temperatures and less snowfall, and urban summers become increasingly unbearably hot, the appeal of our cool, high-altitude mountain resorts has never been stronger. Leveraging our distinct advantage—having attractive slopes situated above 1,000 meters in elevation—we are aggressively investing in state-of-the-art snowmaking systems. Simultaneously, we are supercharging our "green season" (summer) business at these high altitudes.

Furthermore, by applying our green season expertise, we are developing compelling facilities that make our resorts a prime winter destination even for non-skiers. As we strengthen both our green season and non-skier businesses, we are simultaneously driving differentiation by upgrading our gondolas and ski lifts for the next generation. Our commitment is to evolve into a world-class resort where everyone—domestic and international guests, skiers and non-skiers alike—can comfortably immerse themselves in the majesty of nature, 365 days a year.

The core philosophy of Nippon Ski Resort Development is to realize the "Happy Triangle": Nature, Customers, and Local Communities. We are fully committed to creating resorts where nature takes center stage and coexists in harmony with our operations. We will continuously strive to deliver inspiring experiences for our guests while growing hand-in-hand with our cherished local communities. We deeply appreciate your continued support and look forward to the future we will build together.


Sincerely