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The Toho Gas Group, an energy group operating mainly in Aichi, Gifu and Mie Prefectures, focuses on supplying natural gas, a clean, environment-friendly source of energy.
The Company's service region faced difficult economic conditions during fiscal 2008. The business environment for the Company has become severer as manufacturers have rapidly and drastically reduced production, while the competition with other energy operators has intensified. Though the customer base of the city gas business totaled 2,280,000 customers as of March 2009, including the acquisition of gas business from Kuwana City, the gas sales volume for fiscal 2008 decreased 6.7% from the previous year to approx. 3.7 billion cubic meters, influenced by the economic recession.
However, the Company's service region, a manufacturing industry center in which advanced technologies concentrate, has high potential for recovery and growth. Moreover, since natural gas is environmentally friendly and excels in economy and convenience, we believe it will become more important for society as the demand for environmental conservation intensifies.
Amid these circumstances, in March 2009 the Company developed a new Medium-term Business Plan (for fiscal 2009 through 2013) to clarify the direction and objectives for the Company for the next five years. The Plan views the next five years as a period for grasping changes, achieving business growth, conquering the challenges of new business, and solidifying our company's footing. The focus of the Plan is on the following four issues: "Expansion of demand for natural gas," "Maintaining of steady supply, safety, and freedom from anxiety," "Technical development contributing to global environmental conservation" and "Strengthening of management foundation."
The Toho Gas Group will work diligently to attain these goals of the Plan, so as to grow sustainably with local society, and contributing to actualizing a society in harmony with its environment and grow as a corporate group that is supported by shareholders, investors, customers and other stakeholders.
We truly appreciate the continuing understanding and support of our shareholders and investors.
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| June 2009 |
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