In order to launch bold and aggressive business strategies that can yield further growth, a tenacious financial position is essential. Nichicon maintains steady financial strength and excellent company soundness; for example, while the ratio of shareholders’ equity is approximately 30% on average among listed companies in general, in Japan the corresponding ratio of the Nichicon Group is as high as 74.4%(as of March 31, 2007). Moreover, Nichicon continues its debt-free management policy without interest-bearing liabilities, even in today’s harsh management environment, where we are faced with fierce market competition. In other words, Nichicon’s financial position is rock solid. We are attracting more and more attention from overseas investors every year and the ratio of stocks owned by foreign investors currently exceeds 30% (as of March 31, 2007).

In addition, the structural reform for survival that we have promoted since the fiscal year ended March 31, 2003, was mostly completed in the fiscal year ended March 31, 2004, and our frameworks for increased revenue and profit toward further growth were perfected.