Mr. Fujisawa

     INDEX Corporation (hereinafter referred to as INDEX) has been involved in the mobile contents business since before the gi-modeh service was launched in Japan. INDEXfs business has grown as rapidly as the mobile Internet market; this market, however, has matured and accordingly a user-oriented contents business will become more important from now on. INDEX entered into markets always with foresight is now thinking about the future contents business as follows.

     ARPU (Average Revenue Per User) from mobile voice communications is falling as the market approaches saturation, however, mobile data communicationsf ARPU is steadily growing. Telecommunications carriers will be led to expand their business into value-added services area to capture this revenue. INDEX will participate in this process by realizing and spreading the triangular pyramid concept of gAnytime, Anyplace, Anything, Any caseh by its business segments gContentsh and gTelepresenceh.

     INDEX intends to expand business into overseas markets where future growth is still expected as well as developing the Japanese advanced business model. INDEXfs shareholders and main customers range widely over mass media such as telecommunications, broadcastings, publishing companies etc. so that currently we are handling over 100 contents and over 20 solutions in Japan. INDEX hopes to link such results with future business for overseas platforms.

     Finally, for the solution business, INDEX has developed a function enabling the mobile phone to offer hTAKARA Bowlingualh, a software application which can explain a dogfs feeling by analyzing barks, growls, whines and other noises it makes. INDEX will continue to provide more innovative market-oriented solutions in the future.

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