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Through these and other initiatives, we will facilitate our aim to grow sales by 5.5%.

And in emerging markets, we are working even harder to partner with local companies.

In Japan, we have raised selling efficiency and coverage of medical institutions, supported by a sales organisation that was integrated under Canon Medical Systems last year. We are also strengthening our sales capability. However, by further strengthening the competitiveness of mid-range and high-end products such as CT and MRI systems, we will work to expand sales with medium- and large-size medical institutions. In 2021, due to the current resurgence of COVID-19, we are seeing somewhat of a halt in diagnostic imaging equipment business discussions.

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As a result, fourth-quarter sales grew 11.6% and we were able to slightly grow both sales and profits for the full year on a local currency basis. Under these market conditions, we captured opportunities created by government support funds and/or preferential tax treatment given to medical institutions to support equipment purchasing. Except for some equipment used to detect for pneumonia, the diagnostic imaging equipment market was significantly impacted. вЂњ In 2020, the business environment deteriorated as medical institutions worked feverishly to deal with COVID-19. During the Q4 earnings call, Toshizo Tanaka, CFO & Executive Vice President, commented: The sales performance was categorised by continued strong demand for computed tomography (CT) and diagnostic x-ray systems used for the diagnosis and treatment of pneumonia.

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