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We would like to express our sincere gratitude to our shareholders and investors for the exceptional support.
In terms of the business overview for the fiscal year ended March 2020, the sales of the high-margin IP core license business grew due to the growth in revenue of new GPU / AI related licenses in addition to steady mass production shipments of our main product "RS1" in the LSI product business. In the professional service business, AI-related contract development centering on the mobility field commencing with Yamaha Motor Co., Ltd., with which we concluded a business and capital alliance agreement in May 2019, has been steady. As a result, we have achieved growths in both net sales and profits compared to the previous fiscal year.
We have been working on solving social issues and realizing a safe and secure society by expanding our business areas in the AI and IoT fields in full use of the knowledge of GPU IP we have cultivated since our founding. Going forward, we will meet the trusts from our shareholders by achieving further growth in the AI field where the market continues to expand, leveraging our strength of having a consistent development system of AI algorithm, software, and hardware.
We would appreciate your continued support.
June 19, 2020
Tatsuo Yamamoto, Chairman & CEO
Tsuyoshi Osawa, President & COO