I have great pleasure in offering you my best wishes for the New Year.

In 2011, the Greek financial crisis triggered credit uncertainty in the European region, and debt problems threatened to shake the foundations of the world economy, which continued in an unpredictable state. Meanwhile, with yet unhealed wounds from the Great East Japan Earthquake, the yen soared to abnormally high levels. The decline in consumer spending led to a downturn in demand on the market for digital consumer goods and PCs. This was compounded by other factors, including the supply-chain disruption caused by large-scale flooding in Thailand. Amidst a growing sense of uncertainty in Japan and the wider world, Konica Minolta, along with many other Japanese companies that have a high overseas sales ratio, was obliged to make a downward revision in its financial results forecast. This year, as last year, we are keenly aware of the current harsh business conditions, and alert to the general air of crisis.

In May 2011, the Konica Minolta Group unveiled its three-year medium-term business plan, G PLAN 2013. Taking "growth" as its keyword, this plan sets out our policy with three challenges: "achieving strong growth, expanding business scale," "changing into a 'Global Company'," and "increasing the recognition of the Konica Minolta brand." To ensure the fulfilment of this plan, our group has thrown its collective weight behind initiatives designed to implement its policies.

In 2012, the second year of G PLAN 2013, we shall be taking on the challenge of expanding the scale of our profits. Playing to the strengths of the Konica Minolta Group, we shall be focusing our business resources on products, fields and markets that are demonstrating growth. Keeping our existing operations profitable, we shall cultivate new operations, steadily translating growth opportunities into tangible results.

The second theme of G PLAN 2013 is "changing into a Global Company". Our group's overseas sales ratio is over 70%; we have bases in about 40 countries, and two-thirds of our consolidated workforce consists of non-Japanese nationals. In that sense, we are, arguably, already a globally-expanding company. However, in order to become "truly global", we have adopted a global perspective in our management policy, by, among other things, establishing our human resource development system on a worldwide basis.

G PLAN 2013's third challenge is "increasing the recognition of the Konica Minolta brand". Last year, we adopted a new Communication Message: "Giving Shape to Ideas," expressing our commitment to fulfilling our customers' needs through creative technological innovation. While Konica Minolta has already earned a degree of recognition as a manufacturer of cameras and film, we aim to maintain and raise the profile and public understanding of our brand. Advertising and publicity roll-outs will play an important role in this process, but we believe our own daily customer-facing activities are what truly constitute the heart of the matter. This is the thinking behind our new message.

In 2012, living up to our Communication Message by delivering products and services valued by our customers, we aim to help create a better society, and to become, to an even greater degree, a company supported and needed by society.

This year, as ever, your continued support is greatly appreciated.