Concerning the Mitsubishi Fuso Truck and Bus Corporation Recall

With regards to the Mitsubishi Fuso Truck and Bus Corporation (Mitsubishi Fuso) recall citing the truck accident in October of 2002, we pay our deepest respects to the spirit of the victim and we apologize to the surviving members of the victim’s family.

Mitsubishi Fuso has conducted an investigation of the fatal accident and determined that further study is necessary. The fatal accident occurred when the truck and bus division was still a part of our operations therefore we must consider this seriously. The truck and bus division was independent from passenger car operations and information concerning defects was not sufficiently examined or handled by certain departments, which we sincerely regret.

Since the recall problems of 2000, as part of our internal reporting system and quality check structure, we have further strengthened our internal auditing system, reformed claim information system and reorganized production and development processes but we are not yet satisfied with the effects and the results.

Tomorrow we will announce our new mid-term business plan. The core points of this plan will be to strengthen compliance and quality assurance organization. We will seek the recommendations of external experts, and objectively strengthen compliance. Also we must develop a sustainable system that will enable us to further accelerate quality reforms and thus prevent accidents like these from ever occurring again.