matsushita electric works ltd annual report 2003 year ended november 30 reaching for new heights contents 02 financial highlights 03 to our shareholders 12 mew at a glance 14 group activities lighting products information equipment and wiring home appliances building electronic plastic materials automation controls 20 global operations 22 research development 24 corporate social responsibility governance compliance environmental socially responsible quality management 29 members of the board organization 31 principal subsidiaries affiliates 33 section 67 investor note on forward looking statements this contains which are based s assumptions beliefs in light currently available actual results subject number factors may differ materially from those anticipated these include but not limited 1 change economic conditions or market trends 2 fluctuations exchange rates particularly yen against other major currencies such as us dollar euro 3 capital prices heigi 01 profile traces its