Visions - Spring 2008 - (Page 16)

Philanthropy Contributing to Society — SCOA Foundation Gives to Broad Range of Causes in 2007 Donations Reflect Emphasis on Understanding in U.S. of Japan A ccording to estimates by the Foundation Center, giving by foundations set a record last year by hitting almost $43 billion, compared with $39 billion in 2006. For the fiscal year 2007, the SCOA Foundation has made contributions totaling up to $430,000 to a broad range of charitable causes including the recent Japan Day@Central Park Festival, funding support to Columbia Business School’s Center on Japanese Economy and Business, the Lincoln Center Summer Festival for the Performing Arts, and relief support to the Peru earthquake and to the California wildfires. According to Mr. Takaya Endo, Vice President of General Affairs & Personnel of SCOA and also one of the SCOA Foundation’s directors, “We are keeping a steady pace of making approximately $500,000 per year endowment to fulfill our responsibility as good corporate citizens through various philanthropic activities. Our primary mission is to fund research, educational initiatives and cultural programs that contribute and support the understanding of Japan and its culture in the US. We also support local communities, social services, cultural institutions as well as activities that provide assistance, relief and educational outreach programs to those in need. For fiscal year 2008, we have already contributed $160,000 in the first quarter and will continue our philanthropic activities in those areas that fit the SCOA Foundation goals and mission. A recent example of the Foundation’s strong support on the cultural front was our participation in the Japan Day 2008 Festival, the second annual event which was held in Central Park on June 1st. This daylong event transformed Central Park into a slice of Japan and was designed by the Japanese community of New York to promote a deeper understanding of Japanese culture and to say “Thank you, New York!” Japan Day featured “Japan Run”, a mini-marathon and “Japan Village”, where on-stage performances and food stalls welcomed visitors with the traditional sights, sounds and tastes of Japan. Attendees also enjoyed Contemporary Japan which gave participants the chance to experience the latest and greatest in cutting-edge technology and pop culture from across the Pacific. Mr. Endo explained, “This year the Foundation again supported the Japan Day@Central Park and most importantly, our President, Mr. Shinagawa, was appointed Chairman of the Japan Day 2008 Executive Committee. As chairman, he has taken a strong initiative to lead the Executive Committee members who are well-known top executives of Japanese corporations. I think this also reflects SCOA’s increasingly strong presence in New York.” Since its establishment in late 2004, The SCOA Foundation’s total endowment is approximately $1.7 million dollars. visions Spring | Summer 2008 Sumitomo Corporation of America 16

Table of Contents Feed for the Digital Edition of Visions - Spring 2008

Visions- Spring 2008 Revving the Engines of the Auto Industry- A Look at SCOA Automotive Related Businesses Helping Mitsubishi Regiona Jet Take Flight SCOA Returens to D.C. Real Estate with Purchase of K Street Building Contributing to Society- SOCA Foundation Gives to Broad Range of Causes in 2007

Visions - Spring 2008

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