Our company was founded in 1881, as Japan's first telecommunications equipment manufacturer, and last year marks our 125th anniversary. I recognize that our many years of success were only possible because of our esteemed stakeholders. I would like to express my heartfelt gratitude to you.

OKI has played the role of an innovative leader throughout Japan's telecommunications history, for example by making Japan's first domestically manufactured telephone. In 1961 we developed a computer utilizing the first core memories manufactured domestically in Japan, and of course we have long been a leader in switching systems. Carrying on the "enterprising spirit" which has been a fundamental philosophy since OKI's founding, we have been continuously involved in the development of new technologies and products, for example launching a semiconductor business in the 1970s and introducing Japan's first VoIP system in 1996. Going forward, we will be contributing to realization of the "e-society" which is full of Ubiquitous Services that will be delivered at each user's fingertip.

With the intention of being readily recognized worldwide as a "global company," from November 1st, the anniversary date of our company founding, we adopted "Open up your dreams" as our brand statement and we will be moving forward with this fresh image. At the same time, we are standardizing our brand name to "OKI."

This new brand statement, "Open up your dreams" makes it clear that we strive to achieve the e-society wherein all of our stakeholders will realize their hopes and dreams. While expressing opening the door to a society, where people around the world can lead more lives that are enriched, safe and secure, the statement also indicates OKI's dream to contribute to the e-society, and strive to establish our company as a global brand.

At present, we at OKI are expanding our overseas business with the goal of increasing our overseas sales from the current 35% to 50% of total sales by the year 2010. An immediate task for achieving this is to strengthen our local structures and facilities, and ramp up integrated business processes, including marketing, product development, manufacturing, and sales, in all of our major markets. By shifting from a Japan-controlled business to a locally controlled business style, we expect a significant improvement in our overseas business.

OKI is a company that over the years has worked unceasingly to help customers achieve their dreams, but going forward we would like to open the door to dreams even more, functioning as our worldwide customers' trusted partner. We will devote ourselves to serving customers as a trusted and reliable company and I respectfully request that we can count on your support as we all move forward.