To Shareholders and Investors

Since its founding in May 2004, primarily by engineers from the University of Tokyo specializing in image processing technologies, Morpho has developed and brought to market products for mobile phones, then smartphones, drawing primarily on image processing technologies developed from advanced R&D. Today, its roughly 30 image processing software products, including PhotoSolid, industry-leading embedded software that delivers six-axis image stabilization for still image capture, are widely incorporated into mobile phones from manufacturers in Japan and around the world.

Based on our conviction that computer science is a practical endeavor, our mission is to pursue image processing technologies that meet the needs of and contribute to society and the world, drawing on state-of-the-art research that seeks results beyond the realm of theory. We plan to continue delivering de facto global image processing standards based on our sustained R&D initiatives.

We appreciate the continued understanding and support of our investors and shareholders.