Yageo Corporation has grown rapidly over the past decade by successfully deploying mergers and acquisitions and on-going capacity expansion strategies in fortressing its technologies, distribution and product solutions capabilities. While increasing company visibilities in the global market, Yageo has taken an active stance in meeting higher disclosure standards of operational and financial information.

Yageo Corporation believes that sound corporate governance practices make for more than good public relations. Yageo has, by adhering to corporate transparency and integrity benchmarks, benefited from more effective risk management, more efficient organizational functioning, increased market attractiveness and greater investor confidence in recent years despite economic downturns. Strengthening the fabric of corporate governance has proven to be as vital to the bottom line as an effective business model in Yageo's pursuit to become the world's finest passive component services provider.

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Our corporate governance undertakings were recognized by "Euromoney" and "Asiamoney" magazines in their 2003 and 2004 surveys rating Yageo Corporation as one of few Taiwan firms to have achieved corporate accountability, particularly in respect of operation strategies, financial and operational transparency.

As a principle, Yageo maintains rigid reporting requirements across its global organization. In addition to publishing monthly sales information via the press and on Yageo website, Yageo holds quarterly investor conferences and actively participates in road shows and one-on-one investor meetings to keep the investor communities informed in un-prejudiced, consistent and timely fashion.

In Yageo's latest move toward reinforcing corporate governance implementation, the Company engaged additional independent directors and supervisors to serve on its Board this year. We look forward to working with these non-executive board members in delivering improved framework necessary for underpinning effective corporate governance. Yageo has further formed a cross-departmental task force with a mission to scrutinize the practices of corporate governance within its global organization. The task force will propose supplementary measures based on their review to ensure compliance with the international standards of corporate integrity.