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Recipients Selected for 2008 Mitsui-Bussan Scholarship Program for Indonesia

Sep. 12, 2008


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Mitsui & Co., Ltd. (head office: Chiyoda-ku, Tokyo, President: Shoei Utsuda) has selected the following two grantees for the Mitsui-Bussan Scholarship Program for Indonesia in 2008. This brings the total number of recipients to 24 since the establishment of the scholarship program as a public trust foundation.

Grantees
Female graduate of Bandung National Senior High School 3 (SMA Negeri 3 Bandung), aged 17
Male graduate of Taruna Nusantara Senior High School (SMA Taruna Nusantara), aged 16 (one grade skipped)

Background

Scholarships under this program are available to Indonesian high school students. It was established in 1992 to foster exchange and friendship between Indonesia and Japan and to contribute to the development of Indonesia through human resource development. The entrustor is Mitsui & Co., Ltd., and the trustee is The Chuo Mitsui Trust & Banking Co., Ltd.

Mitsui & Co., Ltd. suspended the recruitment of new grantees in 2004. However, recruitment was resumed in 2008 because of the growing importance of Indonesia's role among the ASEAN members and the need to strengthen relations between Japan and Indonesia. Also, the scholarship program has been approved by the Japanese Ministry of Foreign Affairs as a commemorative activity for the 50th anniversary of the establishment of diplomatic relations between Japan and Indonesia in 2008.

Overview of the Program

The grantees are chosen from among Indonesian senior high school graduates through a local selection process. They initially undergo preliminary training over a two-month period, during which they study basic Japanese and acquire general cultural, historical and social knowledge. They then come to Japan to study Japanese for 18 months before starting a four-year university course. They live and study in Japan for a total of five-and-a-half years. All the educational programs are covered by the scholarship, and the staff invite them to dinner once each month to monitor their progress and provide advice about their studies and life in Japan. The value of the scholarship is approximately ¥11 million per student, and there is no repayment requirement.

The scholarship is administered with extensive support from members of the Managing Committee and the Ministry of National Education of Indonesia. The Managing Committee is chaired by Dr. Takeshi Yanagisawa, Emeritus Professor and Professor of Engineering of Tokyo Institute of Technology, who in the fall of 2001 received an award from the Minister of Education, Culture, Sports, Science and Technology in recognition of his contributions to the acceptance of foreign students.

Background Information

  1. Total number of grantees (including those recruited this year): 24 (science: 22, humanities: 2, males 19: females: 5)
    Universities
    Grantees have entered the University of Tokyo (6), Tokyo Institute of Technology (5), Kyoto University (1), Tokyo University of Agriculture and Technology (1), Tohoku University (1), Shinshu University (1), Keio University (4), Waseda University (2) and Meiji University (1). As of April 2008, 20 scholarship grantees had graduated. Most of these graduates have since entered masters and doctorate programs, and six have already gained doctorate degrees.
  2. Total contributions to scholarship fund: ¥590 million to be donated up to 2017
    · ¥380 million donated between 1992 and 2007
    · ¥210 million to be donated in five installments over a 10-year period starting in 2008
  3. Cooperating agencies and organizations
    · Tokyo Japanese Language Education Center of Japan Student Services Organization (JASSO) (formerly the International Students Institute)
    · The Association of Indonesian Alumni from Japan (PERSADA) and Darma Persada University, which it administers
  4. Schedule for newly selected grantees
    · Since late July, 2008, the grantees have been studying Japanese at Darma Persada University.
    · On September 26, 2008, they will attend a send-off party hosted by Mitsui & Co., Ltd. in Jakarta.
    · On September 29, 2008, they will arrive in Japan, and on October 3 they will enroll at the Tokyo Japanese Language Education Center.
    · In April 2010, they will begin university courses.

Notice:
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

Information

For inquiries on this matter, please contact

Media inquiries:
Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-3-3285-7618
Facsimile: +81-3-3285-9819
Inquiries from the general public:
Mitsui-Bussan Scholarship for Indonesia
(Secretariat Office)
C/O Community Relations Dept.
CSR Promotion Division
Mitsui & Co., Ltd.
2-1, Ohtemachi 1-chome, Chiyoda-ku,
Tokyo 100-0004
Japan
Telephone: +81-3-3285-3268
Facsimile: +81-3-3285-9030