First, we would like to express our special thanks for your strong support. 

Central Tanshi Co., Ltd. has performed an intermediary role in the Japanese short-term money market for more than 110 years since its establishment in 1909, and has endeavored to contribute to the business development of our customers and the improvement of the Japanese short-term money market. In 2001, it was newly started by the merger of three tanshi companies, namely Nagoya Tanshi, Nihon Tanshi and Yamane Tanshi under the philosophy of “3 Cs (Confidence, Challenge and Creativity)”. 

Last year, uncertainties over U.S. tariff policy and geopolitical risks increased worldwide. Central banks in the U.S. and Europe continued to lower their policy interest rates, however, in Japan, the Bank of Japan’s policy interest rate hikes in January and December, as both wages and prices were rising, led to the normalization of monetary policy and establishment of a “world with interest rates”. Against such a backdrop, although we expect that severe business environment will persist given the highly uncertain business environment including interest rate movements, we do our best to fulfill our mission of providing products, services and information timely by quickly detecting and flexibly addressing changes and to connect funds closely following both the funding and investment needs of our customers. We will also try to contribute to facilitate and revitalize the short-term money market by enhancing the market liquidity and taking proactive actions to improve the market infrastructure. 

We will continue to endeavor to maintain our sound management and operation and to contribute to and support our customers with the “3 Cs” philosophy mentioned above, collaborating with our group companies. 

We look forward to your continuous support, guidance and encouragement to our group businesses and operations.