This year, we are celebrating the 35th anniversary of New Holland HFT Japan, Inc. as a joint venture, and will be carrying out events for customers to mark this milestone.

We should nonetheless keep in mind that our roots in the agriculture equipment industry date back much further. In 1952, our predecessor, Hokkai Jidosha Kogyo, became the Japan representative for Fordson tractors produced by Ford Motor Co. This is our 53rd year in the business (as a rare coincidence, 53 is the transposition of 35).

In commemorating this 35th anniversary of the joint venture, we appreciate the patronage of our customers over the years, as well as the cooperation that our manufacturing suppliers have ceaselessly provided.

The recent progression from the 20th to the 21st century has seen numerous incidents both inside and outside of Japan. This includes the large earthquake in Kobe, the sarin gas attack on the Tokyo subway system, the devastating 9/11 terrorist attacks in the United States, and the prolonged war in Iraq, and others. On the financial/economic side, we have seen the Asian economic crisis that contributed to the collapse of major financial institutions here such as Hokkaido Takushoku Bank and Yamaichi Securities, China’s rapid economic growth, the reversion of Hong Kong back to China, and creation of the Euro. We are sure to witness many other events, both good and bad, as we advance through the 21st century.

I was pleased when I learned that the Shiretoko peninsula in northeastern Hokkaido would be added to the UNESCO World Heritage Site list. It is truly a magnificent area. In fact, I recently had the opportunity to visit Shiretoko with my 84-year old mother, my first trip back to the peninsula in 35 years. Aside from the beautiful nature, we were also able to see Kunashiri Island, one of the four northern territories that Japan and Russia have been discussing for many years (the other three are Habomai, Shikotan, and Etorofu Islands).

The trip that I had taken to Shiretoko 35 years ago, when I stayed at a hotel near the Iwaobetsu hot springs area in the far east of Hokkaido, was related to HFT. I had just begun working for Ford Motor Co., and I was traveling around eastern Hokkaido with Hokkai Jidosha Kogyo looking for places to establish market representation. As a result of that trip, field stores were launched in Bihoro, Koshimizu, Nakashibetsu, Shibecha, Betsukai, Kitami, Engaru, and Okoppe. We are still operating out of all of these field stores today, where our employees are providing farmers with products and the professional service that they demand.

The competition here has developed to a point where products, technical skills, parts supply, and other key areas are converging. This is good news for the farming community in general. However, because of this stiffening in the competition, we must remain on our toes to ensure that we provide customers with the highest levels of support, including professional service and a reliable supply of parts. Companies that are not up to this task will be spurned by customers and deleted from the ranks of the survivors.

Japan’s farmers have benefited from government development projects in rural areas, but they are also facing an increase in imported produce that is being sold at lower prices than domestically grown output. Demographically speaking, Japan’s society is aging, including farmers, and for many farms there is a lack of successors.

Faced with these challenges and an extremely low food self sufficiency ratio, the Japan government as well as everyone else involved in agriculture will need to exert the best of our efforts. This includes HFT. In the process, we will be aiming to strongly support our farming customers as they go about their important task of supplying food for the people of Japan. We look forward to further development of our ties with our supplying partners along the way.