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.

Last year (FY2009), individual consumption failed to make a recovery amid the continuing worldwide economic recession. The golf-related goods market exhibited pronounced purchasing restraint, and this had a significant effect on SRI Sports.

Even amid such severe economic conditions, though, the New XXIO golf club series introduced to the Japanese domestic market got off to a favorable start. In foreign markets, we have been accelerating our global development through such measures as proactively engaging in cooperative ventures with Cleveland Golf in the US. In all of these endeavors, we have enjoyed a significant response.

Business results for FY2009 indicated reduced income and profits compared to the previous period, which has been worrisome for our shareholders, but global business expansion based on our mid-term and long-term growth strategies continues to exhibit steady success and I am confident that current efforts will most certainly be reflected in future business results.

In FY2010 and beyond, we will accelerate our efforts to tackle administrative challenges in order to further enhance our business results. I would like to ask our shareholders for your unwavering support and encouragement as we continue to develop and improve our operations.