Outline of Results Briefing held on November 4, 2011

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Looking back, while the fiscal year before last we saw our highest net income, in actuality, we were in the worst shape during that period and the one following it. In the face of that, we managed to plant our seeds well, and the quality and content of each of those titles are taking shape.

Developments overseas also show much to look forward to in the future, with Europe nearing completion to an ideal structure and America assembling new staff.

However, only a portion will contribute this period, and the period where revenue bounces back is still a little further out. For this reason, I report to everyone that at present, efforts to reform are progressing smoothly.

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