To Shareholders,

Thank you very much for taking the time to attend the ordinary general shareholders meeting for our 107th fiscal period, which ended on March 31, 2009.

All proposals submitted to the meeting were approved with no revisions. On behalf of all the directors, I would like to express my gratitude for your understanding and support.

In January, 2009, we marked the 70th anniversary of the establishment of our company. We would like to take this memorable milestone as a good opportunity for further business growth and to make every effort to expand the business fields while we work hard to ensure the constant growth in our current three business fields. Taking this opportunity, I would like to briefly explain our corporate policy and business strategies.

From the company's inception, we have endeaved to develop and introduce original unique products according to our corporate philosophy of “contributing to a prosperous society through the products developed with the world-class technologies and valuable mineral resources”. Since the company's establishment in 1939 , we have been expanding the business in foods and mineral resources' imports, and industrial and construction machineries by taking the market needs of the time.

In the field of mineral resources and metallic materials, we have proprietary strengths particularly in the sales of zircon sand from Australia. In the sales of industrial and construction machineries, we have established long-term strong business relationships with our valued customers by providing total support including technical feedback and maintenance services. Furthermore, in the environmental engineering and equipment business, our slag granulation plants, recognized as “Rasa System” has been enjoying a globally high reputation in technology.

We are proud of our unique presence covering wide range of operations as a traditional importer and distributor, a machinery supplier with technical support, and as a full turn-key plant engineering company providing support from the design through to commissioning. We will consistently strive to strengthen our existing three business fields while actively pursuing expansion of business range including the opportunities offered by M&A.

We are firmly committed to providing information about our operations in a manner that is transparent and fair. As part of this commitment, we will increase the amount of information that can be accessed on our website. In addition, we will hold information meetings and other activities for timely and proper disclosure of information about our activities, vision, strategies, performance and other aspects of operations. As we continue to strive towards our continued growth in the furture, we ask for your kind understanding and encouraging supports.

		President
		Shuichi Imura