As the head of Toshiba's new management team, I will take the initiative to revitalize the company and regain public trust, in a spirit of putting the customer first.
I am fully aware of the challenges we face, and I know that some recent actions have caused concern and inconvenience to our stakeholders. However, we are determined to succeed, starting with a resolute response to the inappropriate accounting.

In 2015, we initiated wide ranging reforms of our internal controls and corporate governance, including establishing an Internal Audit Division, and an Audit Committee composed entirely of outside directors. At the board level, we have reinforced oversight of top management and operations by appointing a majority of outside directors. Going forward, we will continue to implement necessary measures, while working to fulfill our social responsibilities through business activities that place the highest priority on human life, safety and compliance.

In an environment where the only certainty is change at an ever faster pace, including rapid development of information and communications technology, we must overcome many complex problems, such as population growth, resource depletion and the ever-growing need for energy. We will seek to contribute to society and overcome these issues by rebuilding a Toshiba Group as a globally competitive organization that focuses on three main business domains: Energy, Infrastructure and Storage. We will also channel our energy into creating value that our customers need today, and growing the seeds that will become next generation businesses and solutions that solve customers' problems. Here we will take full advantage of our technological strengths in hydrogen-based energy systems, and in power electronics that can make great contributions to energy saving and in other areas.

Toshiba Group as a whole is making a united effort to regain the trust of its stakeholders, including customers and shareholders and the public. As we do so, I ask for your understanding and continued support.

Satoshi Tsunakawa
Representative Executive Officer
President and CEO