Taian has a multinational capital structure and the ability to diversify its business. As the company heads toward an open and transparent management system, it will always bear in mind its roots. At the same time, it will take a broad-minded world view, which will enable it to enhance its ability to compete with foreign manufacturers in the global market and to carry out its plan of establishing cross-national operations. Taian is determined to diversify its business in order to spreadits risk and further strengthen itself. In 1987, Taian invested in Taian Jaya Electric Mfg. Co., a joint venture in Malaysia. This marked the beginning of Taian's progressive move toward internationalization. With its investment in Taian-IHI Engineering Co., Ltd. the following year, the company began to implement its business diversification plan. Since then, operations have gradually spread throughout overseas markets. And now include more than a dozen joint ventures. Management of our joint ventures is largely independent of the parent companies. Each of these new enterprises expands and excels in the industry through the guidance of its board of directors backed by cooperation between both parties of the joint venture.