First, I would like to extend to our shareholders my best wishes for your continued health and prosperity, and to thank you for your ongoing support for SRI Sports.

In addition to developing products based on our distinctive technological foundation, the SRI Sports Group has also worked to improve the value of our XXIO and Srixon brands. With our purchase of Cleveland Golf in the US in December 2007, we added the Cleveland Golf brand to our lineup, further consolidating our operating base. By combining the strengths of our two companies, we have succeeded in accelerating our global development. On the production side, last year we resolved to construct a second golf ball factory in Indonesia to address our growing market share both in Japan and abroad.

In recent years, markets both domestic and international have been tumultuous, resulting in fierce competition. We have renewed our management structure to meet the challenges posed by this environment, in order to secure SRI Sports’ position as a global sports equipment manufacturer.

I would like to ask our shareholders for your unwavering support and encouragement as we continue to develop and improve our operations.