Mr. Fujisawa introduced INDEX Group in the first part of the presentation

INDEX Holdings (HD) is the Holding company of all Index groups which separated from Index corp., and Index corp. is now belonging to the group as the part of the group company. INDEX HD were established at 1995, in Tokyo, Japan. Recently INDEX HD's president is Mr. Susumu Tsubaki. INDEX HD has four business lines, and NetIndex corp. is the part of company that covers the business line of Mobile & Wireless.

The first business line is the Mobile & Wireless business such as Index corp., NetIndex Inc and TechIndex corp. which are makers of hardware, hardware, software and network related with mobile and wireless.

The second business line is the Entertainment business such as Nikkatsu corp.,, Madhouse Ltd. and Neoindex Corp. which are holder of multimedia contents and rights.

The third business line is the Commerce and Publishment business such as Index communications corp. and Tokyo TV Land so., Ltd.

The fourth business line is the international business such as U.S.A. Index and Index Asia Pacific. INDEX Group does not have business only in Japan Market but also in worldwide.

Mr. Fujisawa introduced NetIndex Inc. in the second part of the presentation.

NetIndex Inc. had supplied mainly network and data communication PC-cards in Japan, before its company name changed to NetIndex Inc. Recently, NetIndex Inc. has released PHS product for WILLCOM, Inc. in Japan. Their products are W-SIM which is PHS module, including RF circuit and internal antenna. Its nico.(WS005IN) handset series, which are produced as SIM STYLE Jacket in Japan is correspondent to W-SIM.

Mr. Fujisawa referred that NetIndex has three core competencies.

The first core competence is Signal processing RF wireless technology. NetIndex Inc. had leaded the market of PHS data communication cards in Japan. These cards achieved 4X packet data communication with a speed of 128kbps, which made NetIndex the first company release the achievement all over the world. So, NetIndex holds the above-mentioned core competence from experiences accumulated. These experiences will lead NetIndex Inc. to the next generation data communication card with a speed of over 1Mbps to 20Mbps.

The second core competence is Packaging Integration. NetIndex Inc. has been a fabless maker. Despite of that, they released PHS data communication cards and handsets models on Japanese market. Mr. Fujisawa said that they had great experiences on packaging integration. He said that the greatest experience was W-SIM solution. In the end of November, 2005, NetIndex Inc. had released W-SIM and correspondent products with W-SIM concept, which is the first in the world. This experience will lead NetIndex Inc. to the unique handset business and new SIM module such as W-OAM type G, Next Generation PHS, GSM and TD-SCDMA...and so on.

The last core competence is system. NetIndex Inc. have had good experience in PHS system and Cell station. NetIndex Inc. released the small station called 'Nanocell'. This experience will lead NetIndex Inc. to the Home-server business and Mobile-centerex business.

Mr. Fujisawa introduced their M2M communication card.

Netindex Inc. launched W-SIM in November, 2005, as was mentioned earlier in the presentation. It has also launched machine to machine communication card for Honda Motor Co., Ltd., a famous car manufacturer in Japan. This M to M communication card sends the situation, such as traffic information and estimated arrival time, to the main server of Honda Motor Co., Ltd. Driver of a Honda's car can use the information to choose route. This movement is epoch-making and very unique as M to M communication.

And, NetIndex Inc. released 'Nico.(WS005IN)' handset series, which is very simple handset with only voice communication and E-mail function. The product attracted a lot of users in Japan because of very cheap price.

The sales amount of 'Nico' now ranks the third among all Cellphone and PHS models sold on Japanese market.

Mr. Fujisawa lastly introduced new products of NetIndex Inc., which correspond to W-OAM type G.

The main features of their new products are concluded as following:

1. W-OAM type GiBPSKCQPSKC8PSK C16QAMC32QAM C64QAM C8x Multipacket)
2. High-Speed Adaptive Modulation Method
   Depends on the condition of airinterface, it adapts suitable modulation mode mentioned above by every single slot.
3. Correspond to New L2
   Achieve the high-speed communication by bridging the gap of the data.
4. 793.6kbps Maximum data speed
5. Achieve about twice the speed for each slot.
   The communication speed increased to Max. 99.2kbps.
6. By slot bundle technology, the speed will be increased to 1024kbps in near future.

NetIndex Inc. has acknowledged 64QAM and 32QAM as modulation mode. This mode is not different from existing W-OAM. W-OAM corresponds to 8PSK and BPSK. But W-OAM type G corresponds to not only QPSK, BPSK and 8PSK, but also 32QAM, 64QAM and 8X Multipacket. It could run at high speed for PHS data communication. Its speed is MAX 796kb/sec with IP backbone.

In Japan, IP backbone isnft working very well in wide territory nowadays, although NetIndex Inc. believe that IP backbone will expand soon.

Mr. Fujisawa concluded NetIndex Inc. roadmap as following.

He said that they will lead the SIM STYLE Jacket market by releasing their new jacket products.

Regarding to W-SIM, he said that they will correspond to new PHS modulation type such as W-OAM type G and Next Generation PHS etc..