I would like to start by once again thanking our shareholders and customers for constantly supporting Trust & Custody Services Bank, Ltd. (TCSB).
Since TCSB's founding in 2001, we have adhered to the principle of growing our asset administration services into competitive products, then developing further into a company that provides comprehensive services associated with asset administration. Using this as a base, we have consistently worked on developing new services, reinforced our operational and IT infrastructure, and reformed our internal control structure with the aim of becoming Japan's leading player in the area of asset administration services.
With our customers' support and understanding of our initiatives, we continued to further expand the size of our business in fiscal 2014, when assets under custody and administration grew approximately \10 trillion from the previous year to \380 trillion. We will continue to take on challenges with the aim of becoming “the Most Trusted Partner to be Chosen by Customers.”
The area of asset administration services has witnessed not only progress in a succession of securities settlement system reforms, such as the shortening of settlement periods for Japanese government bond transactions, but also an acceleration in developments such as a diversification of investment choices, regions and styles. Customer needs have consequently become that much more diverse and sophisticated.
While keeping an eye on these changes, we shall focus thoroughly on improving excellent quality, which is our top priority, and make untiring efforts to improve. At the same time, we shall continue with our proactive efforts to strategically channel management resources into reinforcing our operational, IT and human resource infrastructure with a view to offering customers unchanged services of higher quality and higher value-added. As a full-range custodian bank, we will work to develop a wide array of new products and services in the area of asset administration and aim to provide forward-looking solutions to meet the increasingly diverse and sophisticated needs of customers at all times.
All of us at TCSB are committed to making concerted efforts in serving our customers as “the Most Trusted Partner to be Chosen by Customers.”
We would greatly appreciate your support for and patronage of our company.
Akira Moriwaki, President & CEO