In order to meet the high expectations of our shareholders and investors and maximize corporate value, we will seek to achieve sustained earnings growth by capitalizing on our competitive advantages, such as the outstanding ability to develop superior technologies, strong cost competitiveness, and globalized businesses.

In February 2010, we announced our Corporate Vision, which sets out our long-term direction and intentions for the next ten to twenty years, as well as our Corporate Business Plan for Fiscal 2010 to Fiscal 2012, which is the first phase of our effort to accomplish our Corporate Vision. We are pursuing our Seven Priority Initiatives to realize our Corporate Vision.

Corporate Vision
I. Achieve sustainable strong growth as a stronger, more innovative global company
II. Help meet pressing global challenges, such as energy and food security, and contribute to sustainable development of the global community
III. Continuously enhance the value of the company

Seven Priority Initiatives under our Corporate Business Plan
1. Quickly maximize profits and cash flows from major investments
2. Enhance financial strength
3. Strengthen cost competitiveness of core and commodity businesses
4. Accelerate business growth
5. Implement Climate Change Strategy
6. Strengthen global management system
7. Ensure full and strict compliance; maintain safe and stable operations

We will work as one to become a stronger, more innovative global company. We will all strive together to deliver creative solutions to the challenges facing people around the world and contribute through our businesses to the sustainable development of the global community.

I would like to express my sincere thanks to all our shareholders for your continued understanding and support.

Hiroshi Hirose, President