I am Akimoto Uchikawa. I will explain the Teijin Group reforms for profitability improvement. At the time of the second quarter earnings briefing, we made a downward revision to our earnings forecast for FY2022. Now as we close the third quarter, as CFO Nabeshima has just explained, we are forecasting the full year operating income to be the lowest in about 50 years, albeit as a result of the combination of various temporary factors. We regard this as a serious crisis. Since I became the president, various studies have been made in preparation for the formulation of the new Medium-Term Management Plan. Under the current circumstances, we felt what's most important is to solidify our footing in order to get out of this critical situation. Therefore, today, I would like to explain the content of Teijin Group reforms aimed at improving the profitability. This is what I will cover. First is the executive summary. As mentioned at the beginning, the top priority for the Teijin Group now is to work on improving profitability in FY 2023 in order to return to growth in the future. In light of this, we will postpone the announcement of the new Medium-Term Management Plan by one year to FY2024. There are two pillars of reform. The first is work on improving the profitability of underperforming businesses, and the second is to reform the management structure of corporate officers and headquarter staff. As a result of this, we will carry out structural reforms company-wide. By implementing these measures, we aim to improve earnings by JPY 30 billion or more during FY 2023. As businesses to be addressed, we have decided to focus on the three businesses, composites, aramid, and healthcare. Regarding the management structure, we believe that one of the factors that led to this difficult situation was that we were unable to adequately respond to changes in the external environment. Recognizing the need for faster management decisions and execution, we will reform our management structure. As announced in February 6th, we will flatten the organizational structure and reduce the number of corporate officers by half. From April, we will restructure the corporate officer system and have corporate focus on company-wide strategies and business units concentrate on business operations. We hope to show the results of the improvement in earnings through the new organization and lineup resulting from the reform of the management structure and in parallel, consider restructuring the business portfolio. We plan to announce the Teijin Group's new Medium-Term Management Plan as an effective growth strategy in FY 2024. That is the executive summary. Let me first explain the background to making this announcement. Since I assumed the position of President in April last year, I have repeatedly stated that we would review what we have accomplished and what we failed to accomplish under the current Medium-Term Management Plan on a fact basis. In summary, although some businesses are performing well in the materials as a whole, we failed to meet any of the financial targets for the Teijin Group, mainly due to the significant deterioration in earnings, as shown on the right. We have come to the conclusion that drastic company-wide improvement in profitability is essential. Until now, our strategy has been to make aggressive investments in businesses classified as strategic focus to be cultivated as future revenue sources and profitable growth that pursue profitable growth. In terms of strategic focus, one of the pillars has been the expansion of the composites business for automobiles in North America. In retrospect, we succeeded in solidifying our position as the largest Tier 1 manufacturer in North America and in expanding our business. On the other hand, as explained in the earnings briefing, countermeasures implemented against the deterioration in profitability have not been sufficient, and we continue to post large losses. We start to build carbon fiber intermediate materials for aircraft as a pillar. Despite COVID-19, construction of the plant proceeded smoothly, and we have successfully launched a new plant in North America. COVID-19 resulted in a significant delay in the development of next-generation aircraft applications by our customers, and thus a delay in our profitability. In healthcare, we have taken up various new businesses, but at the moment we have yet to grow the business to a sufficient scale, and we probably have to conclude that it will take some more time. Looking at aramid, resin, pharmaceuticals, and home healthcare device businesses, which we expected to generate cash, aramid regrettably has posted a significant decline in profitability due to various factors as mentioned. This is a very disappointing result for a business that we were expecting to generate cash. As for resin, we have been able to create a business that earns a certain amount of profit even in difficult environment by shifting to high value-added products. In pharmaceuticals and home healthcare device businesses, we were able to generate cash through the takeover of sales rights for diabetes treatments. Overall, there was a shortage of product pipeline, and we have to admit that the creation of new products and services was not achieved. We believe we have achieved a certain degree of results from our aggressive investment over the past 3 years. As a whole, profit growth lagged behind, and the establishment of the foundation for growth that we had planned was insufficient. That is my view of the current situation at this point. This is the background to today's explanation of measures to focus on improving profitability. Given this difficult situation, we also discuss the direction that we should take. This is a schematic view. Looking at the period from 2000 alone, we find that Teijin Group has faced crises on numerous occasions. Each time we transformed into a new business, we built a business foundation and forged ahead. Teijin has successfully lived up to the vision of sincerely facing customers and patients, building reliable, quality, strong customer relations, and ability to support patients and communities. In fact, I have personally reaffirmed that these are our strengths even in this difficult environment. Given the situation, I do not see a need to change the long-term vision as shown here, which is to be a company that supports the society of the future, nor the need to change our materiality. In the post-pandemic society, as the speed of change in society has accelerated, we see the need to increase the speed of change to reach these goals, which require the speedy change and transformation on our part. In order to respond to these changes, what's more important than changing the direction is to clarify where we should focus, so that we can quickly make management decisions and execute and implement them. We felt it necessary to make our long-term vision more concrete. After repeated discussions within the company, we came up with two specific long-term visions. A company that protects the global environment and in the healthcare field to become a company that addresses issues of patients, families, and communities in need of more support. We have defined business areas that contribute to the environment and disease areas, including rare and intractable diseases in healthcare as the areas that contribute to these goals and contribute to their realization. We believe that focusing on this will demonstrate our competitive advantage, and that it is also important as a direction for returning to growth. As growth drivers necessary to realize these, we have identified the composites business, the aramid business, and the healthcare business. It is imperative that we first work on improving the profitability of these three businesses. Progress toward these improvement targets will be relevant in rebuilding our business portfolio under the new Medium-Term Management Plan to be announced in FY 2024. The key to FY 2023 is whether we can demonstrate the results of improving the profitability of our underperforming businesses. As I have explained, while we will not make any major changes to the goals we have set forth in the current Medium-Term Management Plan, we will temporarily abolish the aggressive investment strategy that distinguishes between strategic focus and profitable growth. We plan to concentrate on investments to focus on improving underperforming businesses. In parallel, we plan to operate each business along the direction shown here until we launch our new Medium-Term Management Plan in FY 2024. From here, I would like to provide the overview of the profit improvement plans for the underperforming businesses individually, which holds an important key to our return to growth. First, the composites business. We believe that this field will grow further in the future as the automobile market shifts to electric vehicles. We believe that there is still value in pursuing the direction of further strengthening the customer relationship that we have cultivated by becoming the Tier 1 supplier and providing products and solutions that are friendly to the global environment. We believe that this is an area where we can demonstrate our strengths. For that reason, top priority is on a swift recovery from the deficit and profit. To that end, we have narrowed down our investments and thoroughly reexamined the room for improving the profitability of the North American business, which consists of many high value-added programs. As we have stated many times, we have completed the formulation of approximately 130 specific improvement measures, and at this stage, have completed the implementation on the operational level. We are addressing improvements in sales, purchasing, and production areas, expecting results as indicated here. By implementing these measures as planned, we aim to recover operating income of JPY 13 billion by the end of FY 2023, the recovery of operating income of JPY 13 billion. Combined with the recovery from the temporary factors such as equipment failures, we hope to achieve an improvement of JPY 19 billion over FY 2022. If the improvement measures do not bear the fruit as expected, we will make decisions on whether to continue the business, including the possibility of selling the business. There is no more time to spare, we must address the issues with strong resolve. That is our profitability improvement plans for the composites business. The aramid business. Aramid business is the area in which Teijin has been implementing sustainability initiatives ahead of others. We believe this business can further differentiate itself in sustainability by allocating resources to environmental investments. Given the strong demand and production capacity expansion that's already been implemented, we will leverage its effect and increase sales volume to strengthen the top market share position. To that end, it is imperative that we transform our business structure into one that is resilient to drastic changes in the environment. We are determined to quickly stabilize the production, which has faced a series of issues, and further improve productivity through automation and digitalization. In addition, we regard the soaring of natural gas prices stemming from the Ukrainian situation as a manifestation of risk that comes from concentrating production bases in one location. Of course, the production base concentration has been the source of our cost competitiveness and business competitiveness so far, so it was not necessarily just a risk. I think the manifestation of the risk resulted in the current situation. Based on this assessment, we are considering procuring raw materials from outside Europe as well and decentralizing and diversifying production bases. We will work to stabilize the prices of procured goods to transform into a more resilient business structure. In any event, the urgent task is to quickly realize the effects of the capacity enhancement that has already been completed, and we would put all our efforts into this. Taking this opportunity, I would like to apologize for the great inconvenience caused by the fire at the raw material factory at the end of last year. By quickly recovering from this temporary factor, and through the improvement measures that I have explained so far, we aim to secure firm footing towards achieving a profit recovery of JPY 14 billion during FY2023. In addition, as has been said repeatedly, to enhance our strength and sustainability, we will promote the sale of recycled products by further developing recycling technology and building a recycling system with partners. We believe that establishing a circular businesses, including the use of recycled materials, will lead to higher added value for our business and will further solidify our top market share position. Lastly, but not the least, the healthcare business. As you all know, Japan is entering a super aging society. As a result, the cost of Social Security benefits is on the rise, and it is expected that the pharmaceutical and medical device industries will be placed under even greater government pressure on drug prices and medical fees. At the same time, we believe that the need for business platforms that the Teijin Group's healthcare business has built over the past forty years, such as call centers that support patients, home visit nursing care, maintenance, and VitalLink, a digital service that connects healthcare professionals, patients, and various other people will remain unchanged in future society. In fact, to facilitate the provision of home healthcare services with a sense of security on the part of patients, it will be essential to utilize and leverage the business platforms that we have, and we expect their importance will increase in the future. Our strategy will be to focus our resources on areas where we can leverage the strengths of the business platforms that we have developed, so as to precisely address the needs of the problems of patients and healthcare professionals. To that end, we have identified a general direction to focus on rare diseases and intractable diseases, and we are working to develop and implement specific strategies. First, we will prioritize enhancing the pipeline by adding pharmaceuticals in these areas through in-licensing. To reiterate, up to now, we have built business foundations and platforms to sell our own products. Going forward, we would like to proceed with the idea of putting pharmaceuticals, medical devices, IT services, and healthcare services that would leverage or would require the business platforms that we have built around home healthcare device business. Eventually, we will aim at a global niche in the areas of these rare diseases. At the same time, as we have established these very business platforms and presence in the area of comprehensive community care, we will further strengthen these and work on monetizing these business platforms themselves. In order to move forward in this direction, we are planning to proceed with reforms in three major steps. To support this, we need to secure cash generation. To that end, we will align necessary functions with the direction in the future, review resources from scratch, and pave the way towards executing a drastic reduction in fixed costs during FY 2023. In addition to generate cash, maximizing existing products is extremely important. Together with structural reforms and fixed cost reductions, we will work on maximizing existing products and transform them into new forms. These are the details of the profitability improvement measures for underperforming businesses. I would like to explain the reform of the management structure, the second pillar. The global business environment has changed significantly due to the unprecedented situation of the COVID-19 pandemic. We were not well prepared to deal with the emergencies such as geopolitical risk as the war in Ukraine. What is more important is whether we have the capacity and capability to respond in a more agile and flexible manner to such major changes. In that sense, we have to admit there is a room for further improvement in terms of resilience of our management structure. For example, in the composites business, we repeatedly encountered temporary disruptions at the site level. Local management or the business side has responded adequately each time. On the other hand, when it comes to the group level prompt response to underlying issues behind the site-level problems or making improvements by utilizing the various available resources, I'm afraid there is room for improvement in our structure. We will make changes from three perspectives in order to expedite management decisions and execution. The first is clarifying the roles of headquarters and business units. In order to respond flexibly to environmental changes and accelerate transformation, we will clarify the roles of the headquarters and each business unit so that each can concentrate on company-wide strategies and business strategies or business operations, respectively. Specifically, we will clarify responsibilities and roles through restructuring the corporate officer system. Shift to the new corporate officer system consisting of the CEO and the chief officers and business executive officers in charge of business operation. As already announced, we will reduce the number of corporate officers from the current 30- 15. In addition, we will eliminate and consolidate functional chief officers and place business units under CEO's direct supervisory by abolishing the president position of materials and healthcare businesses. The second is enhancement of business operation function. Through the structure of CEO's direct supervisory, we will strengthen the involvement of CEO so that I can direct more efforts in development and monitoring of business strategies and planning. At the same time, through further delegation to general managers of business units, we will strengthen execution power to achieve and balance speedy execution and risk management. The third is the review of headquarters function. Conventionally, each business unit has been working to develop new businesses and create innovation. Under the new structure, each business will concentrate on strengthening its respective current earning space. The roles of new business development for future investments and creation of innovation through business collaboration will be executed cross-functionally by the corporate headquarters. By consolidating and strengthening company-wide strategy planning and execution functions, as well as optimizing the allocation and scale of head office staff in conjunction with the organizational restructuring, we aim to reduce fixed costs by approximately JPY 4 billion during FY 2025. This is the organizational chart that summarizes them. As you can see, we have streamlined our management structure to speed up decision-making and aim for resilient management. In this critical situation, gaining the understanding of employees and working together as one is critical in implementing reforms of this nature. I will be spearheading this initiative, clearly demonstrating that the officers themselves will change as we make a company-wide effort. For the time being, we will do our best to improve the profitability of the underperforming businesses, as I explained today. We will accelerate the reform of the management structure to support it so that we can demonstrate the results next fiscal year. Building on that, we would strive to get back on the growth trajectory. Although I didn't cover it today, we will continue to work on the environment and diversity and inclusion initiatives towards the long-term goals we have set. They are included in the appendix for your reference. As stated at the outset, we plan to present the roadmap for achieving our long-term goals in the new Medium-Term Management Plan to be announced in FY 2024. It is with great regret that I am unable to present the new Medium-Term Management Plan to our shareholders and investors today. I felt that rather than talk about growth and discuss the medium term and long term based on insufficient growth foundation, it is more important at this point to explain that we will do everything in our power to establish an earning space, improve earnings in order to do so, and that we are committed to working on it during FY2023. Thus I've changed the subject of today's announcement. The entire company will work together to implement reforms. We ask for your continued understanding and support. That concludes my presentation. Thank you for your kind attention.