As a Society and Lifestyle Partner,
Remaining a Company Based on Best-Mix Energy Proposals

I was newly appointed representative director and president at the 52nd Ordinary General Meeting of Shareholders and Board of Directors' Meeting that were held in June 2012. Amid radical changes in the environment surrounding the energy industry, the Itochu Enex Group—having developed community-based petroleum product and LP gas sales businesses throughout Japan—is now targeting increased earnings based on its "Core & Synergy 2013" medium-term business plan under the slogan "A New Stage through Reform." At the same time, we are aiming to achieve sustainable growth in tandem with local communities.

The Group intends to remain a company based on best-mix energy proposals. Mobilizing the variety of networks and assets developed over half a century, we have been steadily implementing growth strategies, such as strengthening and upgrading our core petroleum product and LP gas sales businesses, enhancing our electric power-related businesses, proactively developing overseas businesses, and tapping into demand-generating businesses from the consumer's standpoint. Having acquired Tokyo Toshi Service Company (TTS) in May 2012, the Group has also entered the heat supply business. Adding entries into the electric power-related business and heat supply business to the core petroleum product and LP gas sales businesses will add the business end-user area to our industrial, domestic, and transportation end-user areas and help the Group achieve growth as a company based on best-mix energy proposals.

As a company involved in energy, Itochu Enex regards social responsibilities as its most important management issue. Working on initiatives that consider the safety, security, and environmental aspects of energy, as well as proactively contributing to local communities, the Group will contribute to the realization of a sustainable society. With particular regard to a pressing issue in the medium-term business plan, the Group intends to remain engaged in medium- to long-term disaster relief efforts directed to those areas affected by the Great East Japan Earthquake until there are clear, ongoing indications that full recovery has taken place.

I would like to take this opportunity to thank all our stakeholders for their ongoing and unwavering support.