Lasertec Corporation, a R&D-oriented fab-lite enterprise, has been providing various inspection and measurement solutions based on its expertise in applied optical technologies, guided by the corporate philosophy, "Create unique solutions. Create new value." The mainstay of our business today is semiconductor-related inspection systems, and we are striving to achieve further growth in the semiconductor industry, where innovations keep driving market growth, by developing perfectly fit products to meet customer needs ahead of anyone else.
At Lasertec, we are trying to make our vision, "Be the first point of contact for worldwide customers searching for solutions," come true, and this is not just in the semiconductor market but in any market where "we can excel and contribute to society most effectively." We are exploring new business opportunities through interactions with universities and various industry customers engaged in R&D, with whom we have established a cordial relationship thanks to our microscope business. One example is our success in developing a confocal system that visualizes electromagnetic reactions occurring inside batteries, offering a unique and useful tool for analyzing and enhancing the performance of rechargeable batteries. Another example is the launch of a series of inspection systems designed specifically to detect defects on new types of wafers made of SiC and GaN, materials highly anticipated to increase the energy efficiency of power semiconductor devices. As seen in these examples, we are not content with our existing businesses but are actively pursuing new opportunities. Our goal in the mid- to long-term is to become a multi-niche champion providing a variety of unique, high value-added products and solutions on a global scale.
The spread of new coronavirus infections has accelerated the transformation of society. We now live in a world where people's movement and in-person activities are more restricted. People go online more often and for a longer time to engage in telecommuting, e-commerce and various other activities, and the volume of data exchange and storage has been increasing at a fast pace. The semiconductor industry is seeing a rapid increase in demand as a result, driven by the growth of new applications such as 5G, IoT, AI, autonomous driving, and data centers. This means that the area where we can contribute to society is widening as well. We are striving to enhance our corporate value to meet the expectations of stakeholders by helping customers improve the performance of electronic devices, which are ubiquitous in our daily life. We are hoping to enrich people's lives and solve social problems in this manner.
I sincerely ask all stakeholders to give us continued support for our endeavor. Thank you.
President Executive Officer