In recent years, Marubeni America Corporation, like our parent, Marubeni Corporation, has maintained its strong earning capability and financial stability. With sustained contributions from our traditional trading businesses and substantial contributions from our subsidiaries, we have had a string of strongly performing years.
During the spring of 2010, Marubeni Corporation embarked on "SG-12", our mid-term management plan. I am very pleased to report that the results of fiscal year 2010, the first year of the "SG-12", were very good. As we look forward to the remaining two years of the plan, we continue to expect many business chances to come from the Americas, which straddles the US market, the largest in the world, with a growing population, and the remarkably expanding South American market. To achieve the goals of the "SG-12", we will aggressively invest management resources in this growth market and strengthen our efforts to find new business opportunities which add value to Marubeni globally.
As we face the challenges of 2011 and beyond, we look forward to ongoing contributions from our existing subsidiaries and the expansion of our business and future earnings by a combination of organic growth and acquisition where appropriate. They have raised the bar and challenged themselves to be innovative and proactive - advocating new ideas and always thinking one step ahead. At the same time, we will focus on advancing our ability to keep an ever-watchful eye on proper risk management, financial planning, internal control, compliance and corporate social responsibility.
Now, as always, we are committed to providing the highest level of value-added services, solution and quality to our customers, clients and business partners - to go beyond your expectations...
We look forward to working with you.
Fumiya Kokubu
President and Chief Executive Officer