Founded in 1954, Advantest has refined its electronic measurement technology over many decades in harmony with the evolution of the electronics and semiconductor industries. Today, our core product segment, automatic test equipment, is used to verify that advanced ICs perform as designed and without malfunction. Semiconductors that pass this stringent testing process are then incorporated into a wide variety of consumer products and industrial equipment that impact every aspect of our lives.
Today, the digital transformation, which holds the promise of solving or mitigating a variety of social issues through technology, is proceeding apace. With the volumes of data generated worldwide dramatically increasing, demand for semiconductors in end-use applications is experiencing an exponential growth, transitioning from simple electronics into artificial intelligence, machine learning, autonomous driving, medical instrumentation, infrastructure expansion and more. As such, semiconductors are required to have extremely high reliability, and Advantest's value to the supply chain has become incrementally more important.
In response to the ongoing and extraordinarily rapid changes in our business environment, we have formulated a Grand Design and mid-term management plan that lay out what we should do to continue to embody our management philosophy of "enabling the leading-edge technology." With the industry's No. 1 test technology capabilities and an internationally-renowned global support system, we pledge to redouble our efforts to grow with our customers around the world, enhance our corporate value, and contribute to a sustainable future for all. Together with our stakeholders, I look forward to a bright future of shared prosperity and ongoing innovation.