As head of a company that bears responsibility for contributing to the safety of consumers' daily life, I first want to take this opportunity to express my sincere condolences on the passing of those who lost their lives in the recent Tohoku-Kanto Earthquake, and my heartfelt sympathy to the victims who survived.

　The fiscal year through March 2011 was the first year covered by Nichirei's "Energy 2012" Medium-Term Business Plan, which calls for the achievement of sustainable profit growth by steadily implementing business strategies and rapidly adapting to environmental changes. On the whole, we met the first-year performance targets set forth in the plan. We made good progress toward restoring profitability in our Processed Foods business and stabilizing performance in the Marine Products segment. We feel we also made steady progress toward boosting our competitive position and strengthening our business base in preparation for moving to the next growth phase.
　On the other hand, the Tohoku-Kanto Earthquake that caused immense damage primarily to eastern Japan also introduced a major element of uncertainty into the Japanese economy. We can predict how we will restore and cope with the direct damages that Nichirei sustained, but we do not yet have a complete picture of what the overall effects will be on markets and corporate performance. This tragic event has renewed our keen awareness that we bear responsibility for a vital aspect of social infrastructure ― the stable provision of food supplies. Nichirei's distribution bases, which fulfill the task of food distribution, and our overall capacity for stable provision of safe and reliable foodstuffs, constitute a vital part of the industry structure that sustains Japanese society. Going forward, we intend to use this experience to remain connected to our starting point, which is to "look at lifestyles and provide true satisfaction" as we strive to maintain our ability to help improve quality of life.
　The fiscal year through March 2012 will be the second year of "Energy 2012." Even after the catastrophic earthquake, our basic course is unchanged. We intend to steadily implement the policies that will allow us to make great strides in the plan's third year. In the future, we will do our very best, by providing safe and reliable food, to achieve sustainable growth as a company that is trusted and needed by society.