President    Saburou nishiura

I am very pleased to announce to you all that Hulic Co.,Ltd. has been listed on the Tokyo Stock Exchange First Section on November 11, 2008. I deeply appreciate the warm support of our valued shareholders as well as our customers, business partners and all other interested parties.
I believe that the real estate industry, although uncertainty abounds in the wake of the U.S. subprime mortgage loan crisis, will continue to show signs of robustness thanks to strongly rooted demand over the medium- to long-term in the office rental market in Tokyo and other large cities.
Our real estate business consists of over 100 leased properties mostly located within the 23 wards of Tokyo providing more than 400,000m² of rentable floor space, a vast majority of which is for office applications. However, I would very much like to see this business grow steadily, maximizing its operational base and prioritizing the convenience and safety of users.
From this base, Hulic has already recorded ¥10.9 billion in ordinary income for the fiscal year ended December 31, 2008, with a 35% profit ratio, attesting to the stability and efficiency of the earnings structure we have in place. Nevertheless, in addition to the above, I would like to simultaneously increase the size of our earnings stream by rebuilding properties with unused capacity as well as other means and push forward the construction and development of environmentally-friendly, urban landmark buildings.
Also, for our insurance agency business, I consider essential the provision of optimal insurance products that specifically meet the variegated demands of our valued customers and take risk into account.
To achieve this, we will bring together a team of professionals and work towards giving Hulic an established presence.
Fully aware of the significance of listing our Company on the TSE, we sincerely beseech your continuing support as we look to fulfill our responsibilities as a member of society.