Message from the President Dec.2010

On November 12, 2010, the company had announced the financial result for the first half of the fiscal year. For the first half of the fiscal year, we have achieved our management target by realizing the operating profits. But whether we can achieve this target for the entire fiscal year or not is still un-certain and will depend on our performance during the second half of the fiscal year.

During the course of recovery, it is common that we start to hear the words within the company that may be we now should lift the counter measure for the crisis since so much performance improvement was made. But, I believe that we should not let the current crisis pass by just as one of the crisis.

During the two year period after the Lehman Shock, each employee should have thought about what we have experienced, what had heart us, and what we though we would never want to experience again. We should never forget this thought. And, now, before we really get out of the crisis, we should seriously think about what we need to learn from these experiences, what should we do to avoid the pain, and how we should be prepared during the normal time in order to not experience the same again.

I believe that we should share these thought with all the employees. And it will become core of the midterm management plan under development now.