First and foremost, I thank you all for your continued support and would like to inform you of an important recent development. In April 2022, A&D and HOLON took a new first step together by merging their businesses to form A&D HOLON Holdings Company, Limited.
Recently, the business environment surrounding us has been changing dramatically. In the measurement and weighing equipment business, investment in internal combustion engines is expected to taper off in the automotive industry in response to carbon neutrality, while investment related to electric vehicles (EVs) is increasing significantly. In the medical and health care equipment business, the spread of the new Coronavirus infection has triggered an increase in demand related to remote medical care. In the semiconductor business, further developments are expected with the proliferation of 5G, the next-generation communication technology, or IoT, as well as AI-enabled data centers for storing and using data.
This business merger will allow all involved to respond appropriately to these changes in a timely manner and achieve sustainable development. We are confident that this business merger will allow us to establish a structure that can respond more quickly to the changing business environment, whilst fully leveraging the strengths of both A&D and HOLON, and further align the interests of the group even more than before.
We have come a long way since A&D was founded 45 years ago in 1977. Looking to the future of the new merged company, we shall take on the challenges that we face as a single unified group with a renewed spirit. Going forward, we ask for your continued understanding and support.
President and Representative Director