The magnetism of iron and other transition metals had been a subject of inten sive research for a long time, but the understanding of the microscopic origin of "metallic magnetism" was quite limited until the early 1970's. During the last 10 to 15 years both theory and experiment contributed towards signif icant progress in this field, such that today a qualitative understanding has been achieved. The word "qualitative" indicates that the knowledge is still not complete; although many properties, the ground state as well as the finite temperature behaviour and the phase transition from magnetic order at low temperatures to the paramagnetic state at high temperatures, can be explained in a coherent way, a quantitative description still is not fully achieved. It is certainly appropriate to summarize the developments of the last 15 years and the present-day understanding of the field, this is the aim of this Topics volume. The form chosen is a collection of reviews, written by prominent scientists who themselves contributed decisively to the progress. Scientists with a general interest in the field as well as specialists and active researchers in metallic magnetism should be able to profit from the two-volume treatment. The subjects not covered extensively in the present first volume (in particular neutron scattering and electronic structure properties) will make up the second volume."

Speech by Toyosaburo Taniguchi Welcome my friends to the Third International Symposium, Division on the Theory of Condensed Matter, of the Taniguchi Foundation. The need is now greater than ever for Japan to consider how to strengthen and foster international understanding between nations, peoples and societies, and how to contribute towards the establishment of peace and prosperity in the world. For more than twenty years, I have been supporting a symposium on mathe matics in which distinguished scholars from allover the world have engaged in free discussions. In this symposium, all the participants live together in community style. I have heard from members of some of these study groups that this type of setup has helped to strengthen their ties and relationships with their colleagues on a personal basis. What developed in the mathematics group led me to reorganize and strengthen the Taniguchi Foundation only a few years ago through additional funding. In order to effectively translate the objectives of the Foundation into action with the funds available, it becomes necessary to select those fields which are not necessarily in the limelight of popular interest, which means those fields which, I am afraid, are low in funding. I would rather choose from modest unimpressive academic fields than for the Foundation, projects those that stand out in gaudy, gorgeous popular acclaim."