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|  In the Energy Business Group, we develop and invest in oil and gas projects. We also deal in products relating to crude oil, petroleum, liquefied petroleum gas (LPG), liquefied natural gas (LNG), and carbon.
 The Energy Business Group literally fuels the development of industry and improvement in the quality of people's lives. We handle all forms of energy—gas, liquid and solid—that are the source of light, heat and power. Our expansive energy portfolio includes natural gas, including liquefied natural gas (LNG), crude oil, petroleum products, liquefied petroleum gas (LPG), petroleum coke, coal coke and carbon products. Our business model has just as far-reaching a presence. We are involved throughout the energy value chain, from the upstream sector to the downstream sector. We explore for, develop and produce oil and gas. We have investments in LNG liquefaction projects. We import and trade trilaterally. And we have interests in domestic trading and retail businesses. Today, we live in a world where the rising price of energy and depletion of natural resources are well-publicized issues. In response, we are also actively engaged in new energy businesses from the standpoints of securing long-term energy supplies, effectively using energy and protecting the environment. Requiring sophisticated technologies, these businesses include gas-to-liquid (GTL), bio fuels, hydrogen supplies and fuel cells. The Energy Business Group has always worked to remain at the leading-edge of the energy industry. We were instrumental in bringing the first LNG shipment to Japan, and we were first to introduce crude oil for use in power generation. The trading foundation we have built over the years, the relationships of trust we have with customers around the world, and the extensive network we have developed with major oil companies and primary gas/oil producing countries are some of our main strengths. These and other strengths will underpin our activities as we continue to rise to the various challenges in our industry in the years ahead.  The actions of the Energy Business Group will be guided by a basic philosophy unveiled in April 2005—to constantly create value and enhance Mitsubishi Corporation's enterprise value with the aim of becoming a true global energy company that contributes to a stable energy supply. This lofty aspiration was our beacon as we engaged in various business activities during the past fiscal year to fulfill our mission of contributing to society through a stable energy supply. We tackled issues head on and we developed businesses with an international focus in regions around the world, including in Japan and elsewhere in Asia where energy demand is growing. Dynamic change is taking place in our operating environment. The enforcement of the Kyoto Protocol, the run-up of oil and gas prices, the emergence of resource nationalism and rising geopolitical risks are some of the forces shaping our market landscape. In this era of change, the Energy Business Group is determined to realize its growth strategy by unearthing new business opportunities and seizing on chances. We will continue to set our sights even higher as we develop in step with society.
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