Fiscal 2011 was the second year of our current three-year midterm management plan, "GEAR UP! MOL," which adopts"enhance safe operation" and "environmental strategy" as strategy goals. During the year, we worked to achieve the single-year targets based on the mediumterm environmental targets and vision in this plan.

As a result of these efforts, we achieved almost all of our targets, apart from the "Four Zeroes" (an unblemished record in terms of serious marine incidents, oil pollution, fatal accidents, and cargo damage), employees using all their special summer vacation days, and certain other targets. In particular, I think we did well in terms of risk management by achieving our goals for corporate governance and compliance at a time when the failure of corporate governance has become a problem in society. In terms of safe operation, we are aiming to "become the world leader." Here, we worked to increase the visibility of safe operation processes and generally achieved our objective numerical indicator targets for measuring safety levels. However, it is extremely regrettable that despite these safety enhancement measures we were unable to achieve our "Four Zeroes" because of a fatal accident inside an elevator on a vessel not operated by MOL. We have implemented measures to ensure that this sort of accident doesn't happen again, as we aim to achieve the "Four Zeroes" in fiscal 2012.

We achieved most of our targets in the area of environmental protection. For example, we practiced ECO SAILING wherever possible, reduced CO2 emissions per ton-mile, implemented initiatives for preventing atmospheric pollution, offered low environmental impact solutions as a whole group, and contributed to the conservation of biodiversity.

In the Senpaku ISHIN project, which aims to develop next-generation concept vessels and is a pillar of our "Environmental Strategy," we successfully developed and introduced various component technologies. And in June 2012, in one of the major achievements thus far under this project, we took delivery of a hybrid car carrier. This vessel aims to achieve "zero emissions" by emitting no exhaust gases while in port by using solar energy. Moving forward, we will continue to develop and introduce component technologies in line with our roadmap.

Based on the achievement status of goals in fiscal 2011, we have set new goals for fiscal 2012, the final year of our midterm management plan. In addition to refining environmental activities, we are determined to achieve the "Four Zeroes" in terms of safe operation. Through this ongoing target management, we will fulfill our corporate social responsibility by achieving our medium-term targets. By earning recognition from our various stakeholders as a result, we are convinced that this will enable us to grow sustainably with society.