Since the latter half of last year, the Japanese economy has started to recover from the recession that ensued from the global financial and economic crisis. The energy distribution industry, however, remains beset by extremely adverse conditions, with energy demand contracting as consumers become more frugal and environmentally conscious.

Amid such an environment, we have solidified our operational foundation by harnessing group-wide capabilities to strengthen our core businesses and create synergies based on our Core & Synergy 2010 medium-term business plan. We also established a new Fuel Cell Solar and Electric Vehicle Business Department focused primarily on peripheral businesses related to fuel cells, solar power, and electric vehicles to capitalize on a society-wide shift toward alternative energy that has accelerated beyond previous expectations.

In accord with our corporate philosophy of “partnering with society and ordinary people in the energy field, in the car, in the home,” we aim to contribute to an affluent society and comfortable living by operating energy businesses attuned to the needs of the times. Although faced with an extremely adverse operating environment, we are committed to responding positively to change and unerringly identifying what consumers are truly seeking in their local communities. We believe that our business operations must provide consumer satisfaction and vitalize communities.

We are grateful for your confidence in the Itochu Enex Group’s future and hope to earn your continued and undiminished support.