I am pleased to introduce the TOYO TIRES group's new corporate philosophy and mission statement: "A Commitment to creating New Value through Innovation in Advanced, Proprietary Technologies".

The challenging business environment in which we currently operate will not change anytime soon.

In order to survive and prosper in this business climate as a distinctive and value-creating industrial group, we launched this past May our "Vision '15" Long-Term Business Plan. TOYO TIRES group will celebrate its 70th anniversary in the year 2015, and the "Vision '15" plan sets forth the group's goals and objectives between now and then. The "Medium-Term Business Plan '08", our new three-year business plan, is our initial road map for getting there.

We have also redefined the TOYO TIRES brand with our new global corporate motto: "driven to perform". It reflects our on-going drive to create distinctive, new value.

In order to create new value, the TOYO TIRES group will need to expand its global presence. To do so will require our organization and all of our employees to continue to develop a truly global mindset and spirit.
With such vision in mind, we have selected for our "Medium-Term Business Plan '08" the slogan: "Creating New Value through 'Global Growth' ".

We must first break through the various economic headwinds to achieve those goals established in the "Medium-Term Business Plan '08". Once there, we must continue to press forward towards those targets set forth in "Vision '15" so that we may realize our goal of creating new value for our customers, shareholders, and employees.