I would like to wish all of you a very happy New Year.

  It gives me great pleasure to be working with you again in 2012.

  Last year was a turbulent year in many respects. There were natural disasters across the globe, and it was a volatile year in terms of international affairs, politics, and the economy. It was a particularly tough year in Japan, with the Great East Japan Earthquake and the nuclear power plant accident. Amid this crisis, the people in the disaster zones and the rest of Japan overcame the sadness and suffering to work together to restore Japan. In addition, Japan received warm support from around the world. In this way, it was also a year in which bonds within humanity were clearly felt. However, simply turning the calendar to a new year will not make things settle down or bring about a stable world order. If anything, uncertainty is on the rise. 

  The Nagase Group has also been impacted by the turbulence in Japan and around the world. We expect our results for the fiscal year ending March 31 to fall short of our initial forecasts, and are bracing for a year-on-year decline in both revenues and profits. Thus, we envisage being confined to the "Change" 11 medium-term management plan operating profit target of 15 billion yen.

We would like to express our deepest sympathies to all those affected by the floods and pray for the swiftest possible recovery of the affected areas.

I would like to congratulate all of you on joining our company. It is with the greatest pleasure that I welcome you as new members of the Nagase Group.

It is now three weeks since the Tohoku Pacific Earthquake struck northeastern Japan. I would like to express my deepest, heartfelt sorrow for the loss of so many lives and for the suffering of many survivors of this natural disaster. Recent reports place the number of dead or missing people at close to 28,000, and more than 170,000 people are still living in evacuation shelters or temporary accommodations. On top of this, we also are dealing with a crisis situation at the Fukushima Dai-ichi nuclear power plant. Japanese industry is suffering from tremendous damage in many areas, and the impact of rolling power outages, the nuclear crisis, and other problems have crippled many functions of our industrial base. Our country is currently in a state of emergency. I am sure that each and every one of you wants to play some role in bringing relief to the victims of this disaster, who are faced with extreme difficulties.

It is our duty, and our mission, to do everything we can to get Japanese industry back to normal as soon as possible. Doing so will best serve the interests of the disaster's victims and of all of Japan, and indeed of the global economy. Many of our customers have suffered direct damage from the disaster, while many others have had their operations interrupted by shortages in necessary materials and energy. Every day, Nagase is inundated with requests to help customers procure needed materials, and your new colleagues in our sales departments are working frantically to meet their customers' needs. Whether you will be working in sales and operations, or in administration, or in research, I look forward to all of you gaining the skills and know-how that will enable you to contribute not only to Japan's revival but also to the world's development as soon as possible.

Nagase has faced and overcome numerous crises since its founding almost 180 years ago in 1832. I firmly believe that we will overcome this current crisis too and make solid contributions to a new Japan and to the world's development.

Nagase and Nagase Group companies are moving into a phase of major change in business structure. We are strengthening our manufacturing, processing, and other functions, and by adroitly combining those enhanced functions with our traditional expertise as a trading company, we will create a new business model unique to Nagase.

I look forward to all of you becoming able to take the lead in propelling change here at Nagase. But first I want you to acquire the skills and know-how needed to conduct the business of a trading company and to immerse yourselves in the Nagase corporate culture so that you become true Nagase people. Here at Nagase, all of our employees uphold our corporate philosophy of maintaining "good and fair business practices." Grasping and internalizing this basic philosophy is essential for all of our employees, whether you are assigned to sales and operations, administration, or research.

Although we face a difficult period, I look forward to working with all of you as we exert every effort to help Japan rebuild from the recent disaster. And I look forward to working with you to build the new Nagase!

Nagase & Co., Ltd. set up its Environment Protection Committee in 1999 for the purpose of initiating, expanding participation in, and firmly establishing environmental protection activities within the Nagase Group. More than 10 years on, environmental protection activities, and awareness, within the Group have reached the envisioned level, and furthermore, organizational arrangements are in place to ensure their maintenance and ongoing operation. As of April 1, 2011, Nagase has therefore disbanded its Environment Protection Committee and transferred activities formerly under its auspices to the Risk Management & Compliance Committee.

Nagase & Co., Ltd. made the following changes to its organizational structure effective April 1, 2011.

Details of changes

・ A Polymer Global Account Department has been newly established.

・ The Advanced Polymers Department　has been abolished and its functions integrated into the Polymer Products  Department and the newly established Polymer Global Account Department.

Reason for changes

The changes were made to enable finely grained service that is more closely tailored to market characteristics when marketing plastics and plastics-related products to global accounts (companies with production operations in various regions) and to enable procurement, product specification approval efforts, and collaborative initiatives with suppliers on a global scale.