During this time of unprecedented change, we are concentrating our energies on areas where we can excel, not simply compete. Even if an opportunity appears profitable, we have to think first of our long-term prospects and the social effects. Our greatest strength is our leadership in Opto-Digital Technologies - an integration of our advanced optical technologies and the latest digital technologies. Not only the key to creating value in years past, Opto-Digital Technologies will define our future as well. From digital cameras and endoscopes to microscopes and industrial equipment, every Olympus product is a reflection of this core competence. Even as we have reorganized our business processes, our domain has stayed constant. Bolstered by its demonstrated abilities, Olympus is ready to take the lead in Opto-Digital systems. For us, creation and innovation are watchwords, both in technology development and corporate value.