We would like to thank all stakeholders in the Aisin Group for your generous patronage.

Rooted in our belief in “Quality First,” we take as our corporate principles “Enhanced value creation,” “Continuous global growth,” “Harmony with society and nature” and “Individual creativity and initiative.” Our basic approach to business involves fulfilling our social responsibilities by contributing to the creation of a sustainable society.

In addition to future uncertainty in the automotive market against the backdrop of a decelerating global economy, the business environment has become more severe as environmental regulations tighten worldwide, demand for low costs increases and development competition stiffens. However, even in such circumstances we remain committed to sustainable growth of the corporation and global society as we carry out management that harmonizes the economic, environmental and social aspects of our business activities.

In terms of the economy, the business environment in fiscal 2009, ended March 31, 2009, has reversed its trend from expansion to very severe conditions as demand for automobiles cooled rapidly on almost all markets worldwide. Consequently, net sales totaled ¥2,214.4 billion, and the Company experienced its first fall in income in 10 years. Concerning profits in this environment, we unfortunately posted an operating loss of ¥3.4 billion, despite having comprehensively reviewed our expenses, downsized our capital investment plans and otherwise devoted our utmost efforts toward urgent steps to secure near-term profits. To overcome this period of adversity and pioneer the next generation will require a transformation into a streamlined, sturdy corporate structure. We will direct the concerted efforts of the entire Group toward decisive structural reforms on which our survival depend, as well as development of new products from the customer’s perspective, forays into new markets and securing of competitive advantages backed by solid manufacturing capabilities.

From an environmental perspective, we are enhancing fuel efficiency through weight reduction, developing technologies to reduce the amount of substances of environmental concern in our products. Even during production of these products, we are lowering power consumption through upgrades to energy-conscious facilities and miniaturized equipment, and taking other measures to curtail energy usage.

On the level of social responsibility, we are introducing greater rigor into our approach to compliance as well as strengthening corporate governance and ensuring that information is disclosed promptly and appropriately. As good corporate citizens we are also actively working on activities that make positive contributions to society through the establishments of links with local communities.

As individuals and as a corporation trusted by society, AISIN will continue to grow and develop its businesses in harmony with society, always taking care to remain in step with society across all its business activities.

We look forward to the continuing support and patronage of our shareholders, customers, suppliers, members of the local community and all our other stakeholders as we strive to realize this goal.

Kanshiro Toyoda, Chairman		Fumio Fujimori, President