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MOL is expanding its associated business, mainly in the ocean shipping-related fields such as tug boats, cruise ships, and sale of ship supplies. In real estate, another core business, we made Daibiru Corporation a consolidated subsidiary in 2004. Daibiru Corporation contributes stable profits that enhance the MOL Group's overall performance.

<Business Performance during FY2010>
In the real estate business, although high vacancy rates generally continued in the rental office market, Daibiru Corporation, the core company in our real estate business, maintained high occupancy rates mostly at office buildings in prime central locations of the midtown area, allowing us to maintain robust performance. The cruise ship business struggled to attract customers, particularly for extended multiple day ocean cruises, and it posted a loss. In the tugboat business, performance was strong overall for both Japanese and overseas operations. A new tugboat business consisting of two large tugboats was started in Vietnam from October 2010. As a result, profit in the overall associated businesses segment increased year over year.