From the President

During 2011, Japan sustained tremendous damage due to the Great East Japan Earthquake, and other countries also suffered disasters, such as major flooding in Thailand. In addition, as the sovereign debt crisis has unfolded in Europe, credit insecurity continues to create uncertainty over the future direction of the global economy. The yen remains strong, causing concern that the environment for Japan's rolling stock exports will become even more challenging.

Railways are an efficient form of mass transportation. Added to this advantage is the fact that they conserve energy, thereby contributing to environmental protection. For these reasons, rail transportation systems are now being viewed more highly, and this has basically not changed even in the face of the recent severe economic environment. Many countries — advanced, emerging and developing alike — are formulating policies promoting many projects to construct and improve rail transportation routes.

At the same time, there is growing demand for the export of packaged projects, including operations and track construction, especially for developing countries. However, Japan's railway related industry has no adequate system to provide this type of packaged export.

A number of steps are being taken to set up such a system, including the establishment of Japan International Consultants for Transportation Co., Ltd. We believe Japan's rolling stock industry also needs to take a global approach aimed at partnering with overseas companies.

Japan Overseas Rolling Stock Association is effectively providing information on Japan's technology through seminars and exhibits overseas, and we intend to organize meetings when opportunities arise, such as during trade conferences, InnoTrans and other events, with a view to supporting business cooperation with entities in Europe and elsewhere. We will also continue our efforts to strengthen our members' export potential and develop overseas markets for plans in India, Brazil, Vietnam, the United States and other countries, with the support and cooperation of Japan's Ministry of Economy, Trade and Industry, the Ministry of Land, Infrastructure, Transport and Tourism, railway operators, Nippon Export and Investment Insurance (NEXI), Japan Bank for International Cooperation (JBIC), Japan International Cooperation Agency (JICA), and other organizations.

We sincerely hope that we can continue to count on your support and cooperation for our Association's activities.