I would like to wish everyone a happy New Year. I hope that you have been able to be with your families and have a pleasant New Year's celebration.

On March 1, we will celebrate the company's 100th anniversary. Aiming for sustainable growth in the next 100 years, we are putting efforts toward the major themes of “NTN 100,” our Medium-term Management Plan, and are advancing “Transformation” into a company that can make even larger contributions to our stakeholders. This is a very important year in which we will take a new step forward. While continuing to “Transformation,” we are dedicated primarily to the efforts detailed below.

1. Expansion of the Aftermarket Business

In the aftermarket business, efforts such as providing exacting engineering services to customers and strengthening our product lineup has led to steady sales increases and an improved share of the market. We are devoting efforts to acquiring contracts for MRO (Maintenance, Repair, and Operations) projects and to improving the global market share.

2. Establishment of the New Business Foundation
Natural Energy Business

We are advancing the development of businesses that utilize natural energy. Last year, we began demonstration tests to use the “NTN Hybrid Street Light,” which combines a small wind turbine with a solar power generation device, to be used for disaster and crime prevention. In addition, for the “NTN Micro Hydro Turbine,” which can generate power simply by being placed on existing waterchannels, we are furthering the development of applications that make use of its feature as an independent power supply system. This year, we plan to release the “NTN Vertical Axis Wind Turbine,” a small, 10kW wind turbine. Through these efforts, we are aiming for further business expansion.

EV Business

We are accelerating our expansion of products that respond to the transition toward electric automobiles and electrification. Last year, with the aim of corresponding environmental regulations, we developed “eHUB,” which unites the control technology that we obtained through our development of in-wheel motors with the foundational technology of our hub bearings, which boast the world's number one share. This year, we plan to begin mass-production of the new product, “Electric Motor and Actuator.” We will continue to accelerate our development of products that respond to the changing needs of automobiles by incorporating new technologies such as AI.

Robot-related Business and Service, Solutions Business

We are working toward the creation of new businesses through the development of original technologies. Last year, through cooperation with other industries, we expanded the market of the “Parallel Link High Speed Angle Control Equipment,” which is able to produce the same movement as that of the human wrist. Further, we are engaged in industry-academic cooperation to apply our original “microscopic coating technology” to the lamination of iPS derived cells, aiming to make a contribution to pharmaceutical development and regenerative medicine. Last year, we established the “NTN Next Generation Research Alliance Laboratory” in the Graduate School of Engineering at Osaka University. We will endeavor toward the strengthening of upstream research and development and the creation of original technologies.

This is an important year, as our growth in the coming 100 years depends on this year. We will powerfully step forth into our 101st year, toward the realization of a smooth society.
In closing, I would like to wish the very best health to you all and your family into the New Year.