Hello, this is Yoshida. Today, I would like to first explain the consolidated financial results for the first quarter of fiscal year ending March 2025. Consolidated net sales for the first quarter of the fiscal year ending March 2025 was up 21.6% year-on-year, and up 1.9% quarter-on-quarter to total JPY 355.454 billion. Operating income increased 3 times year-on-year, and down 1.6% quarter-on-quarter to total JPY 20.025 billion. Profit for the period attributable to the owners of the parent increased by 3.4 times year-on-year, and decreased by 24% quarter-on-quarter to total JPY 13.936 billion. Net sales and operating income hit a first quarter record high. We estimate that foreign currency exchange rates have a quarter-on-quarter impact of +JPY 11.5 billion. On a year-on-year basis, impact of +JPY 33.6 billion in net sales. Quarter-on-quarter impact was +JPY 2.6 billion, and year-on-year impact was +JPY 6.8 billion in operating income. Please, next slide, please. This is the quarterly trend in net sales, operating income, and operating margin. The operating margin for the first quarter was 5.6%. This was up 3.3 percentage point year-on-year and down 0.2 percentage points quarter-on-quarter. Please go to the next slide. This shows the difference between the forecast as of May and actual results for net sales and operating income by business segment for the first quarter. Net sales of PT exceeded the forecast due to the recovery of the data center market from the bottom and the robust sales for aircraft applications. MLS sales exceeded expectations due to motors, mainly HDD motors and motors for automotive applications, but sales of electronic devices fell short of the forecast. SE sales was above expectations, mainly in optical devices and mechanical components. AS was above expectations in automotive devices. Operating income for PT exceeded the forecast, mainly due to an improvement in production volume of ball bearings. MLS exceeded the forecast, thanks to mix improvement. SE exceeded the forecast, partly due to the effect of increased sales. AS was generally in line with the forecast. Please go to the next slide. This slide shows the quarterly trends of the Precision Technologies segment. On the left is a graph indicating yearly net sales trends, and on the right is a graph with a bar chart showing yearly operating income trends, along with a line chart for operating margins. First quarter net sales increased 7.8% quarter-on-quarter to total JPY 62.7 billion. Sales of ball bearings increased 8.1% quarter-on-quarter to total JPY 42.4 billion. The monthly external shipment volume was up 6.1% quarter-on-quarter for an average of 223 million units. This was due to recovery in the fan motors, mainly used in the data centers. Sales of rod ends and fasteners totaling JPY 14.4 billion were up 3.8% over the previous quarter. Sales of pivot assemblies increased 17.2% quarter-on-quarter to total JPY 5.8 billion. Operating income for the quarter totaled JPY 13 billion, and operating margin was 20.8%. On a quarter-on-quarter basis, operating income increased 18.4%, and operating margin rose 1.9 percentage points. Please go to the next slide. This slide shows the quarterly trends for Motor, Lighting and Sensing segment. Net sales increased 2.2% quarter-on-quarter to total JPY 99.1 billion. Looking at the results by product, we see that sales of motors increased 2.6% quarter-on-quarter to reach JPY 77.1 billion. This is mainly due to the strong sales of motors for HDDs and solid sales of motors for automotive applications. Sales of electronic devices were up 3.9% from the previous quarter to a total of JPY 11.4 billion. Sales of sensing devices were down 0.7% from the previous quarter to total JPY 9.1 billion. Operating income came to JPY 5.1 billion, and operating margin was 5.2%. On a quarter-on-quarter basis, operating income increased 42.1%, and operating margin rose 1.5 percentage points. Please go to the next slide. This slide shows the quarterly trends for the Semiconductors and Electronics segment. Net sales increased 1.6% quarter-on-quarter to total JPY 111.2 billion. This was mainly due to the incorporation of Minebea Power Semiconductor Device, formerly Hitachi Power Semiconductor Device, which became a consolidated subsidiary as of May 2, 2024. Operating income totaled JPY 4.7 billion, while the operating margin was 4.3%. Operating income decreased 50.4%, and the operating margin fell 4.4 percentage points quarter-on-quarter. Please go to the next slide. This slide shows the quarterly trends for Access Solutions segment. Net sales decreased 1.8% quarter-on-quarter to total JPY 81.5 billion. This was mainly due to stagnant sales in Chinese market, despite the increase in sales in automotive devices. Operating income came to JPY 3.0 billion, and the operating margin was 3.7%. Operating income increased 31.6%, and the operating margin rose 1.0 percentage points quarter-on-quarter. Moving on to the next slide. The bar graph here shows the trends in profit attributable to owners of the parent, while the line graph chart changes in the profit for the period per share. The profit for the period was JPY 13.9 billion. Earnings per share was JPY 34.5. Moving on to the next slide. Next, we have the quarterly inventory trend. At the end of the first quarter, inventory totaled JPY 359.6 billion, which is JPY 64.7 billion more than what it was three months ago. This was mainly due to the strategic buildup of inventories needed to meet the expected increase in sales in the second quarter onward, as well as the foreign currency effects. Moving on to the next slide. This graph contains a bar chart showing the trends in net interest-bearing debt, which is a total interest bearing debt minus the cash and cash equivalents, and the line chart indicating free cash flows. At the end of the first quarter, net interest bearing debt totaling JPY 251.2 billion was up JPY 42.6 billion from what it was at the end of the previous fiscal year. Although operating cash flow is expected to increase at the end of the fiscal year, ending March 31, 2025, the company expects to make expenditures, mainly in M&A-related expenses for Minebea Power Semiconductor Device and other companies. Moving on to the next slide. We made upward revision to the full year forecast for the fiscal year, ending March 31, 2025. We now target net sales of JPY 1,560 billion and operating income of JPY 103 billion. The full year forecast is factoring only the amount by which the first quarter results exceeded the forecast in terms of both sales and income. The details by segment are shown on page 14. Regarding net sales, we revised upward in each business segment. For operating income, the PT and MLS segments have been revised upward. The AS segment remains unchanged, and the SE segment has been revised downward. The exchange rate is assumed to be 140 yen to the US dollar. Moving on to the next slide. This slide shows the forecast by business segment. Moving on to the next slide. This chart shows the difference between the revised forecast at this time, and the forecast as of May. This is all for my presentation. So, Chairman Kainuma, please. So please turn to the next slide. So I think these are today's points that I want to talk about, but basically, please take a look at this at your leisure. But I think what is unmistakably can be said is that we have gone back to the pre-COVID situation. In terms of additional industrial machine, machinery, it hasn't started to recover, but currently, I think we have started to see some positive stories. So I think the bottom out has been seen without mistake. So these factors, I think basically it's not that all come back to the full recovery, but overall, I think it's gone back to pre-COVID level. So second point is that the backlight earnings coming from the backlight business has basically gone out. But the Forex situation is a positive for us. We have a highest level of financial results. Going forward, I think we have a very positive outlook, and I would like to share why I think so from now on. Let's go to the next slide. So, I think what we're expecting, the second quarter is quite positive. However, I don't, in terms of the Forex situation, I think that I can understand what's happening right down. From the third quarter or the second quarter onwards, in terms of what decision we're going to make, I think we want to take some more time to consider our outlook for the second quarter and onwards. So on a year-over-year basis, operating income has tripled. So I have talked about this in May. So, we have the high-end, a small lot of diverse products that has come back, and the machined components that has a high value, and then, we have been able to see these type of products come back. So maybe this in two days, the yen has become stronger by 10 JPY. If you look at the fourth quarter Forex rate, it was 103.14 JPY. So it went, I don't know whether it's between 149 JPY and 150 JPY. So we have that difference in Thai bahts. So, actually it's up to 36.38 Baht to the dollar. And today. Well, it depends on the time of the day. So 35.56 THB to the dollar. So I think this is among our range. I think we'll be able to achieve, I think, the main target. Then let's go to the next slide. So what we have been saying repeatedly is that the economy situation what will lead the economic recovery will be the bearing business. So when the economy is going down, the ball bearings will be the last to fall. As you can see, the ball bearings have started to recover. In July, so it's about 300 million. It just ended. We closed the books two days ago in July. So, so it 299,962,550 units, so 300 million units. And we've been able to be close to 300 million in terms of the units. So before COVID, this happened, you know, very briefly, but going forward, so August will have the summer vacation, but for September, October, November. So for November, I think we'll be able to exceed 300 million for ball bearings. And you can see in this chart, you can gradually we are seeing an increase in terms of volume. By application-specific numbers, we don't disclose that, but for April into July, if you compare these two months, so it's for fans, 43% up. This is due to the data center market; it has started to recover. For the medical applications, it's 51% increase. You can see that currently, we have a very strong market and pivots. We have data centers going to recover and increasing, so 200 million pieces. Whether it be internal sales or external sales, this has gradually increased, and that's the situation for ball bearings. The rest is shown on the slide. That is the current situation of the market, and I think this is quite realistic, that this is the reality that we are seeing right now. Then let's go to the next slide. Here, I think you can read it at your leisure. But as you can see, the data center-related demand has started to come back, and I think that's what happened right now. For the, you know, the ordinary motors, we have been focusing on various profitability improvement initiatives, and the margin has started to improve. As I have said, smartphones, basically, that business has ended. But in terms of the profit, we have no issue, even if we don't have this business. So the smartphone issue. I think basically, this quarter will be the last that we'll be talking about the smartphone business. And then let's go to the next slide. So SE, Semiconductors and Electronics. As you can see, this is shown here, the optical devices, more than we have expected, a couple of percentage points, the shares, what we lost a couple of percentage points of shares. So I am sure you have heard about that, and I think, that's true, because our ramp-up has been a bit delayed. That's one of the reasons. But in terms of the impact of the overall situation, I think it's quite marginal. So I don't think that's a big issue that we have here. The optical devices, we call this a subcore business, but due to our Eight Spears strategy, we had to try to make our products very resilient, and that has become effective. Not all of the products are showing their best performance. Well, that's very difficult to achieve in the first place. There are some differences product by product, business by product, but more the if we have more businesses that are positive, we will be able to see these results. We have no major concerns. Even if the share trend at the situation, the overall impact on our overall business won't be that large. And if the share recovers, I think that will be a positive factor on the business. Going to the next slide. So there are three major topics that I would like to refer to. First and foremost, for the automotive devices, so the former Mitsumi was used to make antennas, et cetera. So they have been able to generate more than 5% operating margin at last. So they have been loss-making for a long period of time, and so at last, they have been able to show results. And gradually, but gradually, the operating profit has increased. And I think this will be a very promising business. I look forward to this business. And the second point is that in the U.S., so the former Honda Lock factories has turned profitable. So from these factors... Well, the situation in China, as you know, our customers are struggling in the China market. So of course, the component makers have been impacted by the situation, but there are differences, depending on the product demand. Product of the automotive devices has started to recover. The U.S. has become profitable. So the deceleration in China, I think we do have a system that we can offset the deceleration in China. So the third point is that we have been able to get the approval from the BMW, and we're disclosing this. At last, the flush handle is going to be used. So I think a lot of people complained, "Why are you in the Access Solutions segment during COVID?" But as we have been always saying, so because the technological change is going to happen here, that's the that is the very reason that we are in this business. This will become electronic component. But at last, well, if we come to this point, nobody will be suspecting us, but we have been able to come to this point. So the, so the passion and vision create. So we have a passion to create difference. So this has allowed us to bring out this product. So this integration has been a slogan, and we have been conducting business in this way. So for this, for the access products, for the high-end vehicles, I think things are going to change going forward, but we will be able to enter this market. Personally, I think this is a very pleasing thing. So I just talked about the BMW, but also other manufacturers as well are also introducing similar technologies, so I cannot disclose their names, but that's the current situation we find ourselves in. The next page, please. At this point in time, the current overview or situation of the company, as well as our future. So we've had a 15-year trajectory, and we talked about at least back in May, and there are three points that I want to talk about. So the first one is that we have had a success of a structural reform, so we were able to make record high OP, JPY 60 billion, and then LED backlight accounted for the majority of it, but this is now gone. But despite that, JPY 100 billion has been achieved, so we were successful in structural reforms. And also, I couldn't have put everything on this slide, so there are new all sorts of products which will be launched going forward in the market. And so finally, at last, we will be reaping the benefits. That is what is set to happen, in my view, and above all, operating margin is low. Some people have pointed this one out, but recently, within the company, we are also trying to improve on the actual operating margin. So what we need to apply for our customer products, our supplied parts, and excluding them, a true operating margin, if you like, 10%. We'd like to achieve this. And if that happens, JPY 2.5 trillion and JPY 250 billion will be more convincing numbers. So this is JPY 2.5 trillion yen sales, and JPY 250 billion yen in operating income targets will be maintained. And operating margin will be what we will be focusing on going forward. We've started that sort of a management already. So the next page please. Currently, since the financial crisis, the Japanese market is now declining and share prices are now coming down, but with a long-term viewpoint, we would like to do a share buyback. Having said that, today, this will be disclosed, the performance linked share system. There is a notice in regards to that, and also performance linked continuation, the determination about third-party allocation, about the disposal of our treasury stocks, according to that notice, for executives. Additional trust-related disposal of our treasury shares will happen on the 20th of August. So this will take place, and until we finish this, it's not possible for us to do a share buyback. There are such regulations in place. So we will start our share buyback only after the 21st of August and until December 23rd of 2024. That is what we are planning to do. So that's all for my explanation. Thank you very much. Next, I would like to go into the Q&A session. So there's a first question that is going to be asked from Goldman Sachs Securities. Takayama-san, please. Thank you very much for your presentation. Please go ahead. I have three questions. First of all, this is about a comprehensive question. This is about the strength of data centers compared to the beginning of the year. It has become stronger, and you have some good visibility about that. So I think this is contributing to the full year up lift of the precision and the motors. But in terms of the reflection of this situation, in terms of Kainuma-san's review, is it going to be above your guidance? I think you spoke quite strongly about the situation. So, in terms of how far do you think that the data center is going to go upwards? And in terms of the risk for the automotive business, according to what you have said, I think you said that more or less you can be able to hold, you know, hold your ground, but the risk is worsening. So for the Access Solutions and so for the small motor business, do you have to review your plan? So, what is the plan that's already incorporated, and what is the positive and downside risks that is not may come up going forward? Well, first of all, I think generally speaking, the upward revision that we have made this time is for the first quarter. Well, we have seen an increase compared to the plan for the first quarter in the first place, so it's a straightforward revision. In terms of the risk evaluation, as I have just said, there are some differences depending on the products and businesses. As of the current stage, we think we can absorb any differences or ups and downs. I think that's the way to understand what we're saying. So for the ball bearings, the number volume for the data centers, it is—I, I'm not saying they're going to see an increase of the ball bearings for the data centers. But the second quarter onwards, for the subcore business, the profit contribution is going to start to come in. And this seems to be stronger than we had expected, for instance, smartphones. So there is some adjustment in the market, but I think the, we're now entering in the replacement stage for smartphones, and, there's some. And for instance, AI, implement, embedded smartphones. I do not think that we have to be overly pessimistic about the situation. So currently, we have started to see recovery. In terms of the ball bearings, the indicators, it's not the case that we are, seeing a record high. Compared, so compared to April, as I have said, we have seen a recovery. So as of now, we, I think we can absorb, any downturn, through, these type of individual factors. Thank you for that. Understood. So my second question, so this is a, about the actuators. So you said that your, ramp up, delay, you lost some share. Can you elaborate what's happening? And on the other hand, it's a short-term situation, and so you can resolve this. Is it? It's only about the ramp up. So can you give us, for instance, the timeline in terms of when you can, you think you can resolve the situation? So, Yoshida is going to answer. As Kainuma has explained at the beginning, so the new, some of the models for the new bundles that they ramp up has, there was some trouble at the ramp up stage. So in terms of the share, we, I think we have maybe lost some share. So currently, this, trouble is being resolved, and from the second quarter onwards, specifically from August onwards, more or less, we will be able to go back to the normal utilization and the manufacturing, situation. So that's what's happening right now. So in terms and if we compare it to the guidance, even if we incorporate these factors, compared to the original guidance, we are overachieving. So the first quarter and second quarter, from the first quarter to the second quarter, the smartphones seasonality manufacturing is being front-loaded. In terms of the overall volume, we are taking a conservative view. So for this one new model, even if we are losing some share, and in terms of the share that we have lost, it's not that much. Even if we reflect that, for the original guidance that we've given in May, against that, we are over that. For the full year, we think we'll be able to... Or against the guidance that is, we think we'll be able to achieve the guidance. That's the current situation. Understood. So the June-end inventories has gone up. Is that the reason? Because of the situation, or this is a normal situation? Well, foreign currency is one factor. Another factor is for the Hitachi Power Device. Well, Hitachi Power Device, we have newly consolidated. About JPY 20 billion inventory has increased due to the consolidated Hitachi Power Device. ...And it's not that, the inventory is going up because of this trouble, because the demand season is in the second quarter, if for the game consoles. So the former model production peak it was in the first quarter. So these type of products that has a seasonality, the peak tends to be in the first quarter and the second quarter. So, we have the inventory, to be prepared for the seasonality. So it's not the case that the inventory has gone up because we have lost a share. Understood. So going to the third question, and related to the previous questions. For the SE profit outlook, you have downgraded that, meaning that the semiconductor actuator gain, if you can, if that divided into three, so where do you see the decline in these three business areas? Well, I do not think that actually is going to go down to this level, but as Kainuma has mentioned, the PT is good, and motor is solid, and Access solutions for the automotive, China, and so inventory situations for some customers has reduced their production, there's poor visibility. But, so if you increase this JPY 103 billion, maybe we should be a bit conservative for this segment. So maybe this is just trying to make ends meet, so to speak. But, that said, if you look at the semiconductor business, this will be the same as the previous guidance. On the optical devices, at JPY 1 billion. For the other product group, we have been conducting adjustment so that basically we can, you know, show the numbers. So, semiconductor is the same, and optical device is JPY 1 billion. So I don't think that's such room for adjustment for other products. Well, it's very tough to explain that. There's no major adjustment. I understand that. Thank you. Well, thank you very much. Let's move on to the next question. Morgan Stanley MUFG, and Sato-san, please. Go ahead. My name is Sato. Thank you very much. So I have two questions, please. The first question is, that it is about a number, I am afraid, from April to June and July to September, ball bearing production, external and internal sales, monthly breakdown. Would you be able to provide those details? And that's my first question. Okay, a ball bearing production. First, in April, the actual is, the units in millions, 245, 268, 266. This is the actual, and then from July onwards, 281, 276, and 283. As for sales, in April, external sales would be JPY 217, JPY 219, JPY 232. Those are the actuals up to June, and then July, once again, actual is JPY 245, August, JPY 229, and JPY 240 for September. Also, as for internal sales, from April, JPY 49, JPY 46, 50, JPY 55, 54, JPY 49 for each month. So this is the outlook we have. Okay, thank you. Thank you very much. So this time around, on a full year, the external sales plan is maintained pretty much, and then internal sales is a JPY 10 million increase. Against this backdrop, what is your full year production and plan compared with the main plan? How has it changed, or how will it change? Well, at this point in time, in the second quarter, the average production number will be 280. For the Q3, 300. For fourth quarter, 316. So there will be a gradual increase. That is our assumption. So it is going up now. And also, the sales side, both internal and external sales in total, Q2 average is 291, 295, and 309. So we will be maintaining the inventory level pretty much, and then there will be a difference in terms of operation days. And taking that into account, we have this overall plan. That's the current situation. Okay, thank you. Thank you very much. So against this plan, will there be any more upsides or at this point in time?... External sales plan compared with usual years, it is the same as usual years. Is that a fair assessment, would you say? Well, thank you. The assumption is that there will be an upside, so we have some stress scenario here. We are stressing these numbers. Okay, thank you very much. And my second question is that my question is similar to the previous question. So, the first quarter actual and also change in the second quarter from the first quarter, optical devices have been explained already, but systems and semiconductors, what was the situation in the first quarter, and from the second quarter onwards, how will it trend in your view? Well, thank you very much. So, breaking down the numbers for you. Sales, JPY 111.2 billion, and the second quarter, JPY 160 billion yen, JPY 160.7 billion yen, and then the third quarter, JPY 275.5 billion yen. So a semiconductor in this situation is pretty much in line with the expectation, and optical devices see a slight upside. And machinery in the first quarter, it was very strong. In the second quarter, the system is in line with the previous performance, and optical devices will be double of the first quarter, so the sales will increase. So looking at the optical devices only vis-à-vis the fourth quarter, the first quarter will be down, and then it goes up in the second quarter, and then in the third, third quarter, it also goes up. So these are the assumptions. And on top of that, on the profit side, JPY 15 billion in the first half of the year, and then the actual is JPY 4.7 billion. So in the second quarter, JPY 10.3 billion. So the machined components is the same as before, and along with the sales and production increase, semiconductor goes up, and also from May, a power device has been consolidated. So this portion is included in the second quarter, and so full consolidation has happened, so the absolute amount will go up. I believe this is how this will progress. Thank you. Thank you very much. A follow-up question about machined components in the second half of the year. What is your forecast or outlook? As for the machined components in the second half of the year, still it is very difficult for us to foresee, but in the third quarter, it'll go down, and then in the fourth quarter, it'll go up slightly. That's how we assume. That's our assumption. Thank you. Thank you very much. Once again, if you have a question, please utilize the Raise Hand button. Going to the next question. Nomura Securities, Akizuki-san, please. This is Akizuki from Nomura. I have one question. The motor lighting segment, the motor has been a 10% margin has been achieved, so I would like to ask about the progress. The first quarter segment profit was 4.9% of profitability. It doesn't seem that the profitability has improved that much, but the motor has improved, and others, the loss has expanded. I would like to know more about the details behind this. With motors, profitability has improved, so not as high as double digit, but... So it's single digit, but close to double digit. Well, well, maybe I said this will be a strong expression, but it has been improving. In terms of profitability, not loss-making, but what's tough was electronic devices. So, against expectations, the profitability was lower. And so I think all in all, that's what's happening in the Motor, Lighting and Sensing segment. So towards 10%, you are progressing towards that? So when this, are you going to do 10%? This 10% number is floating around. So with the product mix will lead us to 10%, by 8.7%-8.8% currently. But going forward, various motors, more higher, high added value motors is going to come out, and I think we'll be able to achieve a 10%. But I think it's difficult for us to achieve that in one year. But there'll be some months that within the year that the margins will go over 10%. That's what's going to happen for this fiscal year. So in the midterm, the 10%, it starts to seem visible. So there are some months that will achieve that level. For this fiscal year, that's what this is what's going to happen for this fiscal year. Understood. Understood. Thank you very much for your input. Let's move on to the next question. Mizuho Securities, Goto-san, please. Please ask your question. Thank you very much. Goto of Mizuho Securities. Thank you very much for your explanations. So I have some questions about the numbers, once again, about the inventories. So earlier, you already provided some explanation on inventories. So on a real-time basis, Q on Q, increase portion, how much? So that's my first question. And also, as a result, a P&L impact in the first quarter, for example, profit goes up, or from the second quarter onwards, will there be a negative impact because of the inventory situation? That is my first question on inventories. Well, thank you for your question. Foreign currency effects and also power device impact excluded. From the first quarter through the second quarter, approximately a JPY 60 billion increase has happened. So it'll be less than half in the end. So the only actual increase is only about JPY 20 billion. So that much portion, because of the game production increase, gaming production increase, and also smartphones production increase, it is. These account for that portion. So on a real term basis, it's not that we have an excess inventories. So that's not our understanding or recognition. And what about the impact on our profit? So product inventories are, it's not that we have inventories of our products are ramped up. Of course, for the smartphones part, there are some work in progress. It's not that the operation has gone up and undermining a profit. That's not the case. So we are maintaining a normal, normalized production situation. And because of the increased or ramped up of production, we have some materials are prepared in inventory, because especially for smartphones, we have materials prepared for future production. This is the same for games as well. Thank you. Thank you very much. So earlier, Takayama-san also asked a similar question. In your guidance this time around, you revised the guidance, so there is an upside for the first quarter, and you simply added that to the revised guidance. So are you also revisiting the second quarter, third quarter, and so on and so forth? And is that also reflected in this revised version of the guidance? Because looking at the revision for each segment in the second half of the year, there will be some ups and downs in each segment. So overall, numbers, to come up with the numbers, are you just making adjustment for the overall coordination? Or if it's not the case, I would like to know more about it, please. Well, thank you very much. Securing materials and also PT and MLS. The current situation on a profit level, if you just maintain the current numbers, there will be so much deviation from reality. So it is a somewhat a stressed scenario, stress scenario, and SE is doing some more adjustment than other segments. But foreign currency assumption is also changing. So what will happen in the end to that area, that is another important question. In the second quarter, we maintain some conservative outlook for the second quarter, because if we show completely different numbers, it will confuse and baffle all of you. So at PT and MLS, given the overall situation, are somewhat stronger, so SE is compensating for that. So as a result, SE, our numbers are more conservative as a result. So that is the overall composition. So in reality, you just added an upside for the first quarter. Yes, overall numbers, your understanding is correct. And also, my third question is that we in the handles, so you shared a story about that. And in access solution, you are- you have been making efforts, and as a result, there are new projects coming your way. What about the sizes of those new projects for the next two to three years? How much volume or value can you secure with these new projects to the extent possible, please? Okay, you're asking about the comprehensive integration projects, flush handle and motors that will be introduced. So that is the integration of projects. For example, in Europe, there are some major manufacturers, JPY 100 billion over the next seven years. We have one such project, BMW, this time around. I cannot say the exact number, because we don't have an approval from BMW, but it's not as big as those. Having said that, it is still sizable. In that sense, we have started winning quite a few projects already. Okay, thank you. And also AS.... for China, even as China struggles, you'll still be able to cover it with the rest of your business. Could you please elaborate on the risks again? Are you really confident that you can overcome these risks? Well, to be frank with you, we are not a god, so I don't know how much magnitude of risks exist. We cannot measure that. But Goto-san, you have been following us for decades, maybe not a decade, a few years, so probably you already know loss-making is a value for us, because it becomes positive, it becomes profitable, and it will help us. And then, as I said earlier, there are this uneven situation across different businesses, and we try to reduce the loss-making part, but we are trying to increase the profitable parts, and that's why we've been enjoying the growth. So if we just have one product, or if we are just in one region, if we just rely on the one thing, that will be a problem. But for automotive, China is struggling, but motorcycles are doing okay. And India, we will establish our plants and factories in that country going forward. So when you look at this overall situation, what will happen in a few months' time? That's a difficult question for me to answer. But looking at the overall picture, of course, some demand will go up, and then some demand will be gone, drop. So our current assumption is that, of course, we cannot quantify the magnitude of risks in China. We only know later, but we believe that we can absorb that loss with the rest of the businesses. So that is how we look at the situation. Thank you. Thank you very much. I'd like to go to the next question. From UBS Securities, Hirata-san, please. I'm Hirata from UBS Securities. Can you hear me? Yes, we can hear you. Thank you. I have two questions. First question: so SE segment of semiconductors, for the power, you have been integrating the Minebea Power Semiconductor Device from May, and the second quarter is going to be fully contributing. So excluding that, in terms of the organic basis, what is the market condition that you're seeing? So there has been some talk about the adjustment in the Chinese semiconductor business, and there's some weakness in the industrial machinery business. So from your point of view, on a real basis, what is your outlook about the semiconductor market? So for our company, we have a lot of companies under the segment. We have Mitsumi Semiconductor, ABLIC, and Power Device. In terms of Power Device, as I have said before, what we have to do is increase the prices. Another thing we have to do is to the customers has struggling, so what we should have been producing, but we have lost that opportunity, but we are trying to catch up. These are the things that we have to do. In terms of the timeline, it will take a bit more time. On the other hand, for instance, ABLIC, so if the server market improves, we supply that E-fuses, so this is a high-end product. So it means that we have a lot of products that can offset some of the downsides within this segment. For Mitsumi, the power-related semiconductors, I think we have to take that into consideration. But that said, the smartphone volume, if that goes up, well, and again, there will be some ups and downs, depending on the situation. And I think all in all, we are in this market condition right now. Understood. Thank you. My second question is about the automotive business. For Access Solutions, are you going to turn around the loss-making to the profit? I think you have this growth strategy. With the ball bearings automotive applications or with the under motors or the motor automotive applications, for those type of segments, how does the automotive business look? I... So besides the AS segment, what is your outlook for the automotive business? So from our point of view, automotive world is going to be more and more electrified. There's a lot of factors as a comfortability. Automobiles become more and more electrified. So even if you go EV or any other type of mobility, our business will continue to grow. So, some case, cars will use ball bearings, some will not. But I think, from overall, from our point of view, I think basically, we're going to see a growth in this market. Thank you. So motors are the same outlook? Yes, of course, because the number of motors used in the car is going to increase. And so that's kind of, kind of a quasi motor or so resonant devices, for instance, is going to be used in automobiles more and more. Understood. Thank you very much. So once again, if you'd like to ask a question, please use the Raise a Hand button at your hand. Well, thank you very much. Then I would like to conclude the Q&A session here. On that note, I would like to conclude today's briefing. After the meeting is over, you will see the screen of survey. For our IR activities, your feedback will be very valuable. So, please take a moment to respond to the survey. 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