Manufacturing technologies are the source of value creation for the MHI Group, and intellectual property activities and R&D are the bedrock of its business. Supporting our business strategies for growth, we are promoting the construction of a global system, led by the Chief Technology Officer (CTO), who is the head of technology.
In April 2016, MHI launched a new Shared Technology framework consolidating the Company's technologies as well as marketing, procurement, and other functions, overseen by the CTO. We created this framework for maximize the MHI Group's comprehensive technological strength to bolster competitiveness over the medium-to-long term. About Research and Development, in 2015 we established a comprehensive Research & Development Center, consolidating five domestic R&D centers and transitioning to cross-organizational management in our R&D structure. Through this approach, we anticipate new technological synergies, enhanced human resource development, and greater efficiency in work performance and facility utilization. We are globalizing our R&D structure, and as part of these efforts we are dispatching specialist engineers from research centers in Japan to our bases in the United Kingdom, Singapore, the United States, and China. We are making efforts to secure leading global technologies, information, and human resources, while conducting research and providing technological support that is closely aligned with market needs.