My country is a country of teachers. It is therefore a country of peace. We discuss our successes and failures in complete freedom. Because our country is a country of teachers, we closed the army camps, and our children go with books under their arms, not with rifles on their shoulders. We believe in dialogue, in agreement, in reaching a consensus. We reject violence. Because my country is a country of teachers, we believe in convincing our opponents, not defeating them. We prefer raising the fallen to crushing them, because we believe that no one possesses the absolute truth.

We've just passed a milestone: Twenty years ago, on January 3, 1972, Blue Chip Stamps (then an affiliate of Berkshire and later merged into it) bought control of See's Candy Shops, a West Coast manufacturer and retailer of boxed-chocolates. The nominal price that the sellers were asking - calculated on the 100% ownership we ultimately attained - was $40 million. But the company had $10 million of excess cash, and therefore the true offering price was $30 million. Charlie and I, not yet fully appreciative of the value of an economic franchise, looked at the company's mere $7 million of tangible net worth and said $25 million was as high as we would go (and we meant it). Fortunately, the sellers accepted our offer. The sales of trading stamps by Blue Chip thereafter declined from $102.5 million in 1972 to $1.2 million in 1991. But See's candy sales in the same period increased from $29 million to $196 million. Moreover, profits at See's grew even faster than sales, from $4.2 million pre-tax in 1972 to $42.4 million last year.

More than 500 children under the age of 18 lost a parent in the Hanshin Earthquake; 88 of them lost both parents and became orphans. I have proposed the establishment of a foundation in order to support the education of these children so that they can sustain their hopes for the future. To that end, I would like to contribute the hundred thousand dollar prize awarded to me today by The Hyatt Foundation towards this new foundation for these young earthquake victims.

Tree planting became a natural choice to address some of the initial basic needs identified by women. Also, tree planting is simple, attainable and guarantees quick, successful results within a reasonable amount time. This sustains interest and commitment.