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Nobuo Kobayashi, President
I would like to take this opportunity to thank our shareholders for the continued support of Aisan Industries and each subsidiary of the Aisan Industry Group. It is my pleasure to report on the financial achievements of the first half of fiscal year 2011.

We are concerned as we anticipate the effect of Thailand floods in addition to the prolonged appreciation of the yen and the increasing cost of materials.

Under such circumstances, the Aisan Industry Group will focus on the topics below, with its slogan for fiscal year 2011, “Driving Innovation Together ~Speedy and Active~.”
(1) Taking actions to expand the market share especially in the newly developing countries.
(2) Strengthening the manufacturing capability in the developed countries.
(3) Attaining the core technology in order to develop future products.

I would like to extend my gratitude to our shareholders and partners for their continued trust and support.


Nobuo Kobayashi, President
November 2011


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