Ferrotec Material Technologies Corporation, a consolidated subsidiary of Ferrotec Holdings Corporation, has merged with another consolidated subsidiary of the corporation, named Ferrotec Corporation. Our company name "Material Technologies" reflects our philosophy to "create new values based on material technologies." The materials we supply are used for products related to semiconductor and organic EL production equipment, electronic devices, and in-vehicle items. Our materials have been further used for various other purposes as there is an increasing use of AI and big data that support IoT and next-generation communication standards and power electronic substrates are being put into practical use. To take full advantage of this opportunity, we are committed to the further active development of production bases in Japan, China and other countries as well as the acceleration of research and development, and will offer new values in a timely manner. Meanwhile, although the development of new technologies such as IoT has made our lives more convenient, people are facing issues such as the ever-present conflicts in the world and the threat of coronavirus. In such circumstances, our styles of business and lives are beginning to change dramatically. Ferrotec Material Technologies values our entrepreneurial spirit and diversity, which have been the corporate culture since our foundation. We will ensure that all employees think about and carry out what should and can be done to contribute to the new society. We appreciate your continuing support for our activities.