annual report 2004 for the year ended march 31 flexibility strength and speed a winning combination essence of nitto denko s approach to business is combined with our strengths in meeting market needs this engine future growth success but you won t find us resting on laurels every day we renew commitment provide value stakeholders customers corporate profile contents financial highlights operational shareholders review operations 1 by segments 2 geographic areas research & development environmental activities governance section independent auditors group data 4 10 12 13 16 18 19 42 43 45 statements contained respect plans strategies beliefs that are not historical facts forward looking about performance which based management assumptions light information currently available it these involve known unknown risks uncertainties other factors may cause actual results