New Year's Greetings from the President "Adversity makes a man wise"

Let me begin by wishing you all a Happy New Year, and to express my heartfelt wishes for your continued happiness in 2010.

The year 2009 passed without being able to recover from the Lehman collapse and its aftermath. The global economy continued to get worse. A prospective global real economic growth rate of 2009 is minus 1%, registering first minus growth since World War Two.

Tadano Group also experienced an unprecedented drastic market fluctuation. The New Year started amid the economic backlash. It may take some more time before the recovery of the market.

There is a saying "Adversity makes a man wise". Company and people mature greatly in difficult times. We take this depression as an opportunity to review the whole business and continue our efforts with unwavering resolve to make another evolution.

I hope we may count on your understanding and support this year.

Koichi Tadano
President and Representative Director (CEO)