To our valued customers, we would like to express our gratitude for your continued support and for using our products and services.
On June 12, 2018, Canon Medical Systems was invited to attend the 2018 Ceremony of National Commendation for Invention to receive an Award of the Minister of Education, Culture, Sports, Science and Technology in recognition of our development of a new technology in ultrasound imaging. This award-winning technology enables tissues in deeper regions as well as small bones, tendons, muscles, and other structures to be visualized with higher resolution, allowing clinicians to make diagnostic decisions with greater confidence. Previously, these tissues and structures were considered very difficult to visualize using ultrasound. This technology is now incorporated into more than half of all ultrasound systems, including our competitors' systems, and it has established itself as an indispensable technology in routine medical practice.
We have been providing diagnostic imaging systems as an official medical sponsor to football clubs such as FC Barcelona and Real Madrid. Their team physicians use our ultrasound systems, MRI systems, and other imaging equipment to examine players who have been injured and to evaluate players who are undergoing rehabilitation. Our high-resolution imaging technology is gaining widespread acceptance in the field of sports medicine.
We are honored to have been selected to receive this award because it recognizes inventions that are of outstanding social significance, highlighting the fact that our technology is of great value in clinical practice, has been adopted at many medical institutions, and is making an important contribution to healthcare. We feel that it truly embodies our management philosophy, "Made for Life".
Many new engineers joined our company this year. Together with these young engineers, we will strengthen our efforts to fully realize our "Made for Life" philosophy by further improving our high-resolution imaging technology, which is one of our strengths, and by developing new technologies in the field of diagnostic imaging.
President and CEO