Yasunobu Suzuki Chairman and CEO	Hirotsugu Mori President

During the fiscal year ended March 31, 2010 under review, the economy environments continued to be in a difficult state, affected by a prolonged inventory adjustment in some manufactures and a high level of unemployment rate, though a steady recovery in the automotive industry is seen, assisted by the economic stimulus measures taken by the government.

Against this backdrop, the NTN Group (the Group) has started measures including business expansion in the industrial machinery sector and cost reduction in order to build up a strong corporate structure to achieve results not dependant on sales volume, which is the goal of the new medium-term management plan, “NTN 2010 for the Next Step”, covering two years from April 2009. We will strengthen our business following the fundamental principle of technological leadership, based on NTN's corporate philosophy of “For New Technology Network” (bring the world together through new technology), and complete a V-shaped recovery in the fiscal year ending March 2011, leading to new growth in the future.

We look forward to the continued support of our shareholders.
The detailed massage is here.