Honor
Privilege
noun, な adjective
When a light shines on how much you've prospered, it's a great honor. You don't feel like you did anything so special, but it's really a privilege for the light to come down on you like this.
光栄 is generally used to express a deep sense of gratitude and pride when given an opportunity, receiving a compliment, or being acknowledged in a meaningful way. In those situations it's common to say 光栄です to show you feel honored or privileged.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.
こんなステキなチームで試合ができて光栄です。
I am honored to play in such a wonderful team.
この賞を受賞できたことは、私にとって大変光栄なことです。
It is a great honor for me to receive this award.
ワニカニで働けることを、とても光栄に思っています。皆さんのお役に立てるよう努力していきます。どうぞよろしくお願いいたします。
I feel extremely honored to work at WaniKani. I will strive to be of assistance to everyone. Thank you very much for your support.
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