Since its establishment more than nine years ago on the 70th anniversary of Canon Inc., the Canon Foundation has been proud to support research that contributes significantly to the development of science and technology. As we look ahead to marking our first decade of success, the Canon Foundation is pleased that so many universities and research institutes have become familiar with the Foundation's research grant initiatives, for which we receive many applications every year.

To date, the Canon Foundation has funded 115 research studies under its "Creation of Industrial Infrastructure" grant program and 32 studies under its "Pursuit of Ideals" grant program. Some of the researchers we have funded have used these grants not only to pursue their interests but also to win commendations recognizing the quality of their research. Moreover, some have further extended the scope of their research by taking part in activities intended to provide opportunities for fellowship and greater communication with other researchers. For those of us involved in the Foundation, this has been a very satisfying and productive pursuit.

The research grants that private foundations such as ours offer to researchers in the field of science and technology represent an essential contribution to the development of young researchers and their research initiatives. These grants achieve this by specifically supporting research, no matter how small the scale, that is both innovative and challenging. The Foundation's unique approach benefits research in a manner not matched by any public research expenditures typically known as "grants-in-aid for scientific research." Considering the circumstances, we believe that the Canon Foundation, as a young foundation embarking on only its 10th year of existence, excels at supporting challenging work without being bound to convention.

Serving as the chairman from this year, I have the opportunity to greatly expand my own participation in the initiatives of the Foundation. In the years ahead, I intend to remain committed to launching a new phase of development for the Foundation's research grant activities, which have already achieved great results. I very much look forward to your support as I pursue this endeavor.