NFT's 30th ordinary shareholders' and board members' meeting was held on June 19, 2003. At that time, Mr. Kohji Kaneko was elected as the new President.

On April 11, 2003, NFT reached the 30th anniversary of its foundation. In an event to celebrate this milestone, President Mori, appealed to all of NFT's employees, saying that we must build upon the amazing safety records we have put together over the last 30 years and make great efforts to become the most reliable, respected and preferred company in the nuclear industry. He also expressed his appreciation to relevant companies which were invited to the event, saying that NFT will make further progress toward its 40th and 50th anniversary with their corporation, and gave them letters and tokens of his appreciation.

In this August, a company booklet, "NFT's Achievements for Thirty Years" was issued in commemoration of our 30th anniversary. It compiles the transport technology and results NFT has achieved as the sole domestic company specializing in the vital field of nuclear fuel materials transport, and focuses mainly on our actual work and accomplishments.

In August 2002, shipment of natural UF6 by land from Mutsu-Ogawara(MO) Port to the Uranium Enrichment Plant of Japan Nuclear Fuel Limited(JNFL) was carried out for the first time in two years. It was the first time since the transport regulations were revised and 100 cylinders were transported by 18 fleets over the course of four days. After the revision, the approval process and package inspection was strengthened to as the same level as spent fuel(SF).

The following photo was taken during loading of cylinders onto a transport vehicle while the containers' shutters were open, and with the competent authorities duly overseeing the process.

On July 23-24, 2003, the eighth shipment of vitrified waste (6 casks containing 144 canisters) to the High Level Radioactive Waste (HLW) Storage Center of JNFL in Rokkasho-mura was carried out. The shipment was originally planned to return to Japan in fiscal 2002 after pre-shipment inspection tests for the transport packages at La Hargue reprocessing plant, COGEMA, but was postponed to this fiscal year.

In July 2001, the radioactive materials transport regulations in Japan were revised to incorporate the 1996 edition of the IAEA Safety Transport Regulations. Following the revision, NFT is renewing its package design and packaging certificates. The current situation is as follows;

1. NFT-Type Transport Cask
   - Used for transportation of SF from domestic nuclear power plants to the Uranium Reprocessing Plant of JNFL in Rokkasho-mura

   Package Design Certificate(Issued in June 2002)

   Packaging Certificate(Issued in June 2002)

2. HZ-75T-Type Transport Cask
   - Used for transportation of SF from domestic nuclear power plants to the Uranium Reprocessing Center of JNC in Tokai-mura

   Package Design Certificate(Issued in February 2003)

   Packaging Certificate(Issued in April 2003)

3. TN28VT-Type Transport Cask
   - Used for transportation of vitrified waste from the reprocessing plant in UK/France to the HLW Storage Center of JNFL in Rokkasho-mura

   Package Design Certificate(Issued in June 2002)

   Packaging Certificate(Issued in July 2002)

4. BNFL3320-Type Transport Cask
   - To be used for transportation of vitrified waste from the reprocessing plant in UK/France to the HLW Storage Center of JNFL in Rokkasho-mura

   Package Design Certificate(Issued in June 2002)

   Packaging Certificate(To be filed in 2003 and issued after manufactured)

Since we acquired ISO9001 certification in September 1999, we have been developing quality assurance (QA) activities to enhance our awareness to QA and improve our company's QA system. Following a revision of the ISO standards, we set up in-house Working Group last fall to review the system. Thanks to their revision work for a lot of procedures and manuals, we were certified for ISO9001;2000 by the authorized committee on August 30, 2002. We will continue to work actively to further our QA activities.

In December 2002, NFT hosted a Peer Review by NS Net. The purpose of the Peer Review is to make sure the Japanese nuclear industry stays fully aware and focused on safety issues and shares the same safety culture through the industry, by sharing good practices and tackling problems that concern nuclear safety during regular visits to member (electric companies, manufactures, etc.) offices. The latest Peer Review focused around "Site Observation" of our Rokkasho Transport Operations Office, and "Document Confirmation" and "Interviews" in our Head Office. An extremely valuable and strait-forward exchange of opinions took place focusing on subjects pertaining to the safety management of transport operations, such as organizational structures, emergency measures, training, transport schedules, and the design, manufacture and maintenance of transport packaging.

Emergency training initiated by the Ministry of Land, Infrastructure and Transport (MLIT) was conducted on March 15, 2003. We participated as the sole shipping company along with Tokyo Electric Power Company (TEPCO), and were joined by a number of other electric power companies who participated as observers. We simulated the outbreak of fire on a ship carrying nuclear fuel materials and carried out following the steps: report to MLIT, set up an emergency office, conduct communication under the newly enforced Nuclear Disaster Law, and make sure to send/receive information regarding the settlement of the situation by telephone and fax. Vice President Kaneko (the current President) and a public relations group joined the ad hoc emergency response task office, and the training was conducted as close as possible to a real accident in a tense atmosphere. On March 26, we conducted our own emergency response training. The training was more practical than our usual training sessions as we added rapid response to the accident location, and had our press and general affairs teams participate in this session.