Table Speech

Initiation Speeches
'Corporate Management'
'High Nutrition Ice Cream'

September 15th, 2004

President of The Bearing Point Co.
Mr. Yoshiki Akita
Vice President of the Meiraku Corporation
Mr.Akihiro Omori

'Corporate Management'
Mr.Yoshiki Akita

Ever since the Enron scandal, corporate governance has been highlighted. This incident which has shaken the foundations of American capitalism, has exposed the defects of relying entirely on certified accountants, and steps are being taken urgently to strengthen corporate governance.

A new law, the SOX law has been put into effect which calls for corporate reform. In fact, the establishment of our Bearing Point Co. is closely related to this law. Our firm was born as a merger between KPMG Consulting which branched off from a Public Accounting firm and the business consulting arm of Anderson. This was due to the SOX law prohibiting public accounting firms from engaging in business consulting.

SOX secures the accuracy of corporate financial statements by tightening inernal control and placing responsibility on management. Furthermore, the PCOB, which has regulating control over CPAs has been established. Furthermore, an early declaration system for financial statements has been established for the protection of investors.

To make this system which allows for corporate governance giving priority to investors function requires time and expense. A system which will allow all facets of business data to be assembled must be constructed.

The SOX law is currently effective only in the U.S. but it is clear that Japan will also adopt the same. If not, American firms who have paid the cost of complying with this law will call Japanese firms competing in their market as being unfair.

However, it is not correct to assume that corporate governance alone is enhanced by following the law. The law can be used to enhance a firm’s standing, and to improve the quality of its management.

The state of corporate governance in Japan was a big reason for Japan’s lost ten years. By strengthening corporate governance and making management more transparent we will be able to make our corporations grow and enhance their international competitiveness.

By a revision of our commercial laws, we are now allowed to establish committees and such on the American pattern. Instead of the auditor, we are able to have external directors and establish outside of the executive organization the nomination, auditing and remuneration committees. There are still matters that are not defined, such as the standing of the committee members, and we must say that the issue of corporate governance in Japan has just started.

'High Nutrition Ice Cream'
Mr.Akihiro Omori

After graduating college I worked for the Mitsubishi Trading Co. and for 20 years was handling sub materials for iron and steel making. In connection with my work with nickel, I was stationed twice in New Caledonia for a total of 5 years.

Therefore my experience with dairy products is rather recent, and my talk today is a summing up of what I have learned so far.

Ice cream is first mentioned in the 4th century B.C. in the time of Alexander the Great. He liked to eat a mixture of milk, honey and wine plus ice which was a forebear of ice cream. The original form of today’s ice cream appeared in France at the beginning of the 18th century when whipped cream was frozen and served a glace a la chanti which became widely popular in France.

In America in 1851, a Jacob Fussel opened the first ice cream factory which started large scale production. The first Japanese to do so was Fusazo Machida, and the day he started selling his product is now celebrated as Ice Cream Day on May 9. It was much enjoyed by the upper classes, but as industrial production started in Japan it spread among the public.

Depending on the percentage of milk solids and milk fat in its ingredients, we divide ice cream into 3 categories: ice cream; ice milk and lact ice.
Their main ingredients are milk fat, powdered skim milk, and non fat milk solid Milk fat gives ice cream its flavor and is a vital ingredient. The solids contain proteins, sugars and inorganic matter and give ice cream its richness.
As ice cream is mixed in making, air is contained making it pleasing to the tongue.

Ice cream is an excellent source for obtaining necessary nutrients.It contains calcium to strengthen our bones, with Vitamin A for our eyesight, Vitamin B for our skin, and although ice cream is considered to be fattening, it contains much less calories than other forms of sweets.

Ice cream is frozen, and one is unable to eat it like other food, so it can be considered as being a diet food, as the input is limited.Being an excellent health food is why was adopted by the masses as their favorite food after having been started as something for just the upper classes.