In recent years, Brazil has shown remarkable economic growth, and, as future host to international big sports events, it is one country in which continued growth is expected for the digital camera business. Up to now, our affiliate in the United States, Nikon Inc. and Nikon Instruments Inc., have performed sales and service operations for the Brazilian market through local Brazilian distributors. However, with expectations for further market expansion, Nikon has established this new sales subsidiary in order to expand its operations in Brazil.