The last few years have been a time of rapid change. Financial turmoil, the rise of the so-called emerging economies, technological advances, unusual weather patterns and natural disasters and are just some of the factors that have affected the lives of almost everyone on the planet. Epson has been no exception, and like many others we have sometimes struggled to respond to the constantly changing circumstances.

Despite the ongoing upheaval, I believe that our efforts to meet the tough challenges we have faced are at last starting to bear fruit. The changes in the world have prompted us to look carefully at our core strengths, and have caused us to review carefully how we can leverage these strengths to make a positive difference to people's lives.

Our company was founded on the basis of original compact, energy-saving and high precision technologies, and it is these that will form the basis of our growth. Epson's mission is to continue refining these technologies, and to use them to create unique value for our customers in each of the markets where we do business.

Based on our Updated SE15 Mid-Range Second-Half Business Plan, we will concentrate resources on businesses where we can take advantage of our unique strengths. These will include printers and projectors for the office and the home, robots and printing systems for industry, and sensing systems for use in sports, healthcare and medicine. I firmly believe that widening the scope and application of Epson's unique products and services from these core businesses will provide the springboard for further innovations.

The goal expressed in Epson's "Exceed Your Vision" global tagline is our commitment to constantly go beyond convention to provide products and services that amaze and inspire our customers, and to become a company that is truly indispensable to its customers and to society.

The years ahead are certain to be exciting ones for Epson. I am looking forward to your support as we move forward.

Minoru Usui, President