President & CEO Fumiyuki Akikusa

We would like to express our sincere appreciation for your continued support during the three and half years since our latest merger. Today, the Japanese economy is facing increasingly severe circumstances due to the global recession. While it would be prudent during these difficult times to go back to the basics and reaffirm the significance of our internal controls and compliance infrastructure, we faced a truly regrettable incident this past April in which our customers'information was fraudulently leaked. We would like to deeply apologize for the trouble and inconvenience this has caused our customers. We will implement preventative measures to prevent the recurrence of such an incident.

As the core securities company of the MUFG Group, we strive to provide our customers with highest quality services through full use of MUFG's large client base and human resources and in cooperation with the companies in our group. We especially aim to develop a framework to comply with the advanced needs of our corporate customers, and are currently working on the development of our merger with Morgan Stanley Japan Securities Co., Ltd. We are confident that this new integrated company will help us provide our customers with cutting-edge dealing methods and superior products.

On the other hand, in order to continue earning the trust of our customers, we are recommitting ourselves to playing back seat roles of supporting other industries which is a basic posture of a financial institution, and providing our customers with personal customized service needs. We appreciate your ongoing support.

Fumiyuki Akikusa President & CEO