I, sincerely, would like to thank you all for your continued good support.
With the start of fiscal year 2010, I would like to address a few words of greeting to you.

Aiming to significantly increase its profitability, since fiscal year 2008, our company has been vigorously carrying out the 3-year medium-term management plan, “Hitz Innovation II”. Although the lower demand and other aspects of the severe business environment caused by the global recession are still continuing, implementation of the priority measures of “Hitz Innovation II” has been accelerated by, among other things, the merger and integration of our Group’s 10 companies that was effected in April 2009. Thus, as has already been announced, we have decided to propose, at the annual shareholders meeting, to be held in June 2010, that dividends be resumed after a 12-year hiatus .

Fiscal year 2010 will be the final year of Hitz Innovation II, whereby all members of the Hitachi Zosen Group will work together to successfully conclude this medium-term management plan and to implement a stable, continuing dividend.

Moreover, on April 1, 2011, our company will celebrate the 130th anniversary of its foundation. Accordingly, we will aim to recognize and appreciate anew both the challenging spirit of the company’s founder, a Scotsman, Mr. E. H. Hunter, and our 130 years of history, and to strive for the further growth of the company’s business. I would thus like to ask you to provide us with your continued valued support and encouragement.

 

 
Minoru Furukawa, Chairman & President