The downturn in global economy that began with problems related to subprime loans affected the investment condition significantly. And it is the time traditional investment concepts and methods are being reviewed and investment firms are also strictly selected.

Given these conditions, we believe we should return to the basics.

With the management team of our portfolio companies, we consider how we can support and leverage such efforts to help companies grow, based on accurate assessments of true corporate value, including the value of corporate resources, human resources and intellectual property that do not appear on financial statements. This establishes a solid foundation for our investment activities.

To have access to a broad range of information and networks related to industries, we strive to win high marks and recognition among the companies we invest, in terms of our human resources and intellectual properties.

The Japanese economy has reached a stage of maturity. Identifying rapidly growing companies as in the past is now significantly more difficult, and in certain industries restructuring would advance rapidly to preserve highly profitable structures and to maintain global competitiveness.

In contrast, looking at the whole Asian market, from the perspective of other rapid growthing Asian markets, Japanese companies are viewed as treasures of human resources and intellectual properties.

Taking such conditions into consideration, our goal is to pursue investment while providing management support for investment targets, including (1) companies with the human resources and intellectual properties from the point of Asian markets, and (2) companies belonging to industries undergoing restructuring and some companies will grow in the future.

Alongside these efforts, in the mature Japanese market, we will organize specialized team targeting specific industry like nursing-care and environment industries which is anticipated future grouth.

There is a criticism of the excess financial techniques in recent days. As economic conditions continue to change, policies, accounting and taxation systems should be revised. And financial techniques and methods would be developed responds to such trends.

Naturally, as an investment firm, we will do our utmost to maximize investors' earnings.

At the same time, as a part of our social responsibilities as an investment firm, we always continue to consider whether there is "Justice" for our investment.

Our goal is to contribute to society through "Justice" investment which is regarded as beneficial by all stakeholders.