Frederick Reidenbach. These two will be presenting, and after that we will have a Q&A session. Starting with Mr. Miyazaki, please. Hello. I am Miyazaki, President and CEO. Today, I myself and Fred Reidenbach, CFO, would like to present the results for the fiscal year ended March 31, 2023, and the forecast for the fiscal year ending March 31, 2024. This is the contents of today's presentation. I will begin with a review of the fiscal year ended March 31, 2023. Fiscal year 2022 was a year in which under the new management team and in line with the basic policy announced in May, we announced our midterm management plan for growth and implemented measures for turnaround and investments for growth. First, regarding the turnaround, by September we completed the early voluntary retirement in the domestic headquarter and downsizing of the U.S. headquarter. While the improvement of Epredia's margins has been progressing, it's still halfway through, and we recorded impairment losses in this fiscal year as well as last year. The impact of the interest rate increase couldn't be fully compensated. In November last year, we announced the Value Creation Plan, our first midterm management plan since being listed on the stock exchange, which set forth three new growth areas and initiatives in each business domain. In diabetes management, we made an additional investment of $50 million in Senseonics through Warrant, our partner of CGM, in March this year. The additional investment strengthens Senseonics' financial base and will allow the company to focus more on manufacturing. We are now jointly working to strengthen the CGM business. In Healthcare Solutions, a new company, WEMEX, was launched in April of this year, and the health checkup support business of LSI Medience was integrated into WEMEX. Through this integration, we will continue to expand our health management business. In March of this year, we agreed to acquire the electronic medical record insurance claim related businesses from FUJIFILM Healthcare Systems. Through this acquisition, we will accelerate business growth in digital health solutions by expanding our customer base and value-added product lineup. In diagnostics and life sciences, Epredia continued to improve margins while growing sales. In Biomedical, we launched the VIP ECO SMART series of ULT freezers with the industry's number 1 energy-saving performance in December last year. Other investments for growth in fiscal 2022 will be explained later. I will explain our financial results. In FY 2022, revenue was JPY 356.4 billion. Operating profit was JPY 20.0 billion. Adjusted EBITDA was JPY 64.9 billion, cash-based profit was JPY 22.5 billion. Revenues increased year-over-year as lower sales of BGM sensors, lower revenue of PCR testing, and decreased special demand for ULT freezers were offset by favorable foreign exchange effect, demand for online qualification systems, growth in Epredia, and a general demand uptake in Biomedical. Operating profit improved from the previous year despite impairment losses in Epredia and increased year-over-year as a result of headquarter reform, lower one-time expenses in each business, and cost reductions. As for adjusted EBITDA, it decreased due to deteriorating margins in diabetes management and decreased margin of the PCR testing in Healthcare Solutions. The CFO will explain the details of the numbers later. I will explain the goodwill impairment and the progress of Epredia's turnaround. As indicated in the recent revision of the earnings forecast on April 26th, we recorded an impairment loss of approximately JPY 80.7 billion for Epredia. In the full year impairment test, an increase in interest rates and other factors affected the weighted average cost of capital WACC, and resulted in impairment loss. Although Epredia's revenue is on an increasing trend and the margins are improving due to variation not sufficient to compensate for the increase in WACC. In this slide, I will explain Epredia's initiatives to improve revenue. Regarding revenue for FY 2022, while it declined significantly in Q1 due to the lockdown in Shanghai, China, it grew steadily from Q2 and onwards. Overseas, their sales tended to increase in the third quarter due to customers' budget digestion. We achieved strong sales in the fourth quarter after the budget consumption. For the full year, sales grew 26.8% over the previous year, or 10.1% excluding the FX impact. The profit margin, which had been declining since the second half of FY 2021 due to inflation and other factors, hit a bottom in Q1 of FY 2022 when the China lockdown impacted and has been improving since then. The line on the graph shows the margin when the level of Q1 FY 2021 is set as 1. When Q4 FY 2022 is compared to Q4 FY 2021, it improved by about 19%. Efforts to improve the margin include strict control over freight costs and appropriate management of SG&A expenses. In fiscal year 2023, we will continue to address the remaining issues. First, we will capture growth in existing markets while expanding sales of digital pathology through the formation of a dedicated team. We will also continue our efforts to improve profitability by efficiently managing the supply chain through engaging in multi-source purchasing and through further improving manufacturing efficiency. Next, I would like to explain the progress of our main measures to achieve the goals of the medium-term management plan. First, in the pathological diagnosis area, we have begun feasibility studies with NovaScan for joint development of testing equipment in the non-melanoma skin cancer field. Leveraging our accumulated manufacturing expertise, we work together with NovaScan's advanced technology for detecting cancerous tissues to test for non-melanoma skin cancer. Next, WEMEX will launch a new hybrid product that leverages the merits of both on-premise and cloud-based systems and will also support the improvement of medical professionals' operational efficiency by linking with other companies' services through APIs. Next, Epredia and 3DHISTECH have established a Pathology Innovation Incubator in Hungary. We will promote the development and improvement of solutions to realize more effective cancer treatment. We will continue to promote our growth strategies to achieve our midterm business plan. This slide summarizes the results of our growth investments for fiscal year 2022. In the pathology business, we acquired Microm Microtech France and Laurypath and made an additional investment in Lunaphore Technologies. We also made a minority investment in Cyfuse, a developer of regenerative medicine and other products. In the current fiscal year, we will continue to focus on growth investments. I will explain our full year forecast for the current fiscal year. First, we expect net sales to decline 0.3% or JPY 0.9 billion to JPY 355.5 billion due to the negative impact of foreign exchange rates and the absence of new corona-related demand. Excluding the impact of foreign exchange rates and corona, sales are expected to increase by 3.3%. Through the expected streamlining in the diabetes management of the BGM organization and the active investment in the CGM business, and with the accelerated margin improvement in the pathology business, Epredia that is, operating income is expected to increase by JPY 9.3 billion to JPY 29.3 billion, a significant increase compared to the previous year when impairment losses were recorded. Adjusted EBITDA is expected to decrease by JPY 4.7 billion to JPY 60.2 billion. Cash-based income attributable to owners of the parent is expected to increase by JPY 0.9 billion to JPY 23.4 billion due to an expected decrease in financial expenses compared to the previous year when there was a negative impact of foreign exchange and an increase in interest expenses. Details on numbers will be later explained by our CFO. I would like to explain our dividend policy for the current fiscal year. Our basic dividend policy is to maintain stable dividends while balancing internal reserves and repayment of borrowings, taking into consideration our business performance, financial condition, future business investment plans, and other factors. The dividend per share for fiscal year 2022 was 72 JPY, and the dividend payout ratio on cash basis profit was 39.9%. The annual dividend for fiscal year 2023 is expected to be 72 JPY per share, the same as in fiscal year 2022. This slide explains the positioning of fiscal year 2023 for our company. As I mentioned at the beginning, fiscal year 2022 was the year in which we announced our medium-term management plan for growth under the new management. Turnaround measures and growth investments were implemented. In addition to the impact of rising interest rates and inflation, we face challenges such as a decline in revenue in diabetes management and the recording of an impairment loss on Epredia in the diagnostics and life sciences business. We will continue to respond to those issues in fiscal year 2023, making investments to achieve growth, making fiscal 23 a turning point for growth. In fiscal year 2023, we expect an increase in cost due to strengthened investment amid the decline of the positive impact of COVID, but we will firmly advance growth initiatives in each of the businesses for further growth in fiscal year 2024 and beyond.First, in the diabetes management business, the impact of the termination of the sales collaboration in the U.S. will remain in fiscal year 2023, but will be largely resolved in the current fiscal year. In CGM, we'll increase investment and expand sales channels, and we will increase the number of users for that market. As for CGM, we'll increase investment and expand sales channels. We will increase the number of users of Senseonics products worldwide and from approximately 3,000 as of March 2023 to approximately 7,500. That will be the number of increases in the users that we are going to target. In Healthcare Solutions, we expect a recovery in demand for testing at LSI Medience, and WEMEX, which started in April, will leverage its robust customer base and development capabilities to ensure that it also captures demand for online eligibility checks and ePrescriptions. In Diagnostics and Life Sciences, we will continue to work on Epredia sales growth and margin improvements to achieve year-on-year profit growth. In PHCbi, we will also work to grow the business by expanding sales of new products, such as the new ULT freezers launched last year, and by strengthening our sales structure. The stock acquisition rights interest in Senseonics will be measured at fair value through other comprehensive income from fiscal year 2023. Changes in Senseonics stock price will no longer have an impact on our net income. Through such initiatives, we will make fiscal year 2023 a turning point year for growth by addressing issues and making investments for growth. We will do our utmost to achieve the goals through the medium-term management plan to further grow in 2024 and beyond. This fiscal year will be a very important year for our company as we respond to challenges and execute investments for growth. To achieve our midterm business plan, we will respond to the shrinking BGM market, strengthen CGM, and realize growth in digital health and diagnostics and life sciences. That is all from myself. Thank you very much. Next, I will give it to Fred. The next few slides, I will cover three key areas. First, I will walk you through the keys to the performance for the quarter and the year. Next, I will help to bridge that performance to the underpinnings of our fiscal 2022 close. Finally, I will give you an updated view on how we are thinking about our fiscal year ending March 2024. On the next slide, we have included on the left side our fiscal 2022 results for the year, and on the right side, results for the quarter. Both are compared to the same period of the prior year. For fiscal 2022, our revenue was JPY 356.4 billion. That is an increase of 4.7% compared to the JPY 340.5 billion reported in the prior year. I will go over the reason for the change by segment later in this presentation. On the operating profit level, it increased 144.7% to JPY 20 billion. The increase year-on-year was principally due to lower impairment and depreciation charges this year versus prior year, which you can see on slide 26. By VU, in our Diabetes Management segment, despite deterioration of the profit margin due to a product mix, our operating profit increased, but this was mainly due to decreases in depreciation expense at one-time costs. In our Healthcare Solutions segment, operating profit decreased due to the impact of the reduction of the medical reimbursements for PCR testing and the number of PCR tests conducted in Japan. Lastly, in our Diagnostics and Life Sciences segment, operating profit was affected by the goodwill impairment loss of JPY 8.7 billion on our Epredia investment, which Miyazaki-san mentioned earlier. While revenue of our Epredia business unit increased and margin improvement was seen through several implemented initiatives, these improvements were not sufficient to compensate for the increased weighted average cost of capital that resulted primarily from increase in rates in the United States and several other technical factors. Our profit before tax and our profit attributable to owners of the parent company came in at JPY 200 million and a negative JPY 3.2 billion, respectfully. Offsetting the increase in operating profit were three main items which drove the drop in profit before tax. First, there was a JPY 5.9 billion swing in the fair market value of our investment in Senseonics. In the current year, we reported a loss of JPY 9.2 billion versus a loss of JPY 3.3 billion reported in the prior year. Secondly, we recognized realized FX losses in the current year of approximately JPY 3.9 billion versus losses of about JPY 1 billion reported in the prior year. Lastly, interest expense rose to JPY 6.8 billion. This was up versus the JPY 2.9 billion recorded in the prior year, mainly due to rate increases on our US dollar-denominated debt. On the business side, our EBITDA increased by 1.6% year-on-year, JPY 58.6 billion. After adding back one-time charges, our adjusted EBITDA decreased by 9.7% or JPY 7 billion to JPY 64.9 billion. Our cash-based net profit decreased by 9.5% to JPY 22.5 billion. For the quarter, on the right side, you can see revenue was up 3.7% year-over-year to JPY 91.3 billion. Due to the goodwill impairment, our operating profit, our profit before tax, and our profit attributable to owners of the parent company turned negative. On the business side, our adjusted EBITDA ended up 1.8% at JPY 15.6 billion, and our cash-based result for the quarter came in at a profit of JPY 6.8 billion. Before getting into the details of our business units on a quarterly basis, we have provided on this chart a bridge to explain the change between our latest forecast and our actual results. At the financial briefing in May 2022, our adjusted EBITDA forecast was JPY 64.5 billion. Mainly due to positive foreign exchange impacts, this was raised at the end of Q1 to JPY 69.1 billion again then in Q2 at JPY 69.3 billion. At the end of Q3, we held our Q3 forecast of JPY 69.3 billion, we did note at that time that we do see a risk of between 2%-3%. Our adjusted EBITDA for fiscal 2022 came in at JPY 64.9 billion, down about 6% from our Q3 forecast. It was in line with our original forecast of JPY 64.5 billion. The miss to our Q3 forecast was mainly due to three factors. First, in Diabetes Management, our gross margin fell due to decreased sales of BGM sensors and the impact of products mix versus our Q3 forecast. Secondly, our LSI Medience business unit within our Healthcare Solutions segment saw reduced demand for conventional and COVID tests, and the margin on COVID tests fell short of our Q3 forecast. Lastly, our Diagnostics and Life Sciences segments profit were lower than we forecasted in Q3, mainly due to a sales shortfall in our previous business unit. Our profitable profit attributable to owners of the parent company for fiscal 2022 was negative, as you can see on the right side, at 3.2 billion JPY. That was due to the drop in the adjusted EBITDA, as well as the impact of the impairment loss and the fair market valuation loss on our Senseonics convertible note, offset by tax benefits related to these charges. On slide 18, we show the quarterly trend of our revenue and adjusted EBITDA. As explained in prior quarters, Q1 tends to be our slowest quarter. Spending by American and European customers tends to accelerate from July, with the largest volume coming in October to December timeframe. While customer spend in Japan tends to accelerate in Q3, with Q4 showing the largest growth. For fiscal 2022, due to lower COVID-19 related demand versus Q3 in our Biomedical and LSI Medience business units, coupled with favorable FX impacts in Q3, revenue and adjusted EBITDA decreased in Q4 compared to Q3. On the next slide, we show our revenue at a summary level across the 5 business units within our 3 segments. Again, we'll go over this in more detail later on in the presentation. At a summary level, our Diabetes Management segment increased its revenue 2.2% year-on-year to JPY 111.8 billion. Our Healthcare Solutions segment revenue decreased 2% year-on-year from JPY 136.3 billion to JPY 133.6 billion. Within the segment, the 7.5% decrease in LSI Medience' revenue to JPY 95.6 billion, principally due to COVID unwinding, was mostly offset by a 15% year-on-year increase in Medicom's revenue to JPY 37.9 billion. Lastly, our Diagnostics and Life Sciences segment increased revenue 17.9% year-on-year to JPY 108.8 billion. Within this segment, growth was seen in both the Epredia and Biomedical business units. Our Epredia business unit reported revenues up 26.8% year-on-year to JPY 49.5 billion, and our Biomedical business unit saw its revenue increase by 11.4% year-on-year to JPY 59.3 billion. On the right side of the chart, you can see that except for Diabetes Management, all business units reported growth in underlying revenue, which excludes COVID-related sales and foreign exchange impacts. To help better understand the year-on-year change for underlying revenue and Epredia and, I'm sorry, adjusted EBITDA, we have provided a waterfall chart on slide 20. In the top chart, you can see that our underlying revenue, excluding a net positive COVID headwinds of JPY 16.8 billion and a positive foreign exchange impact of JPY 25.6 billion grew year-on-year by 2.1%. This was driven by underlying growth in our healthcare solutions and diagnostics and life sciences segment, offset by weakness in our diabetes management segment, which shrank JPY 7.9 billion in the period. In the bottom chart, you can see that our underlying adjusted EBITDA, excluding a net negative COVID impact of JPY 12.9 billion and a positive FX impact of JPY 2.4 billion, increased 5.8% year-on-year. This result was due to the growth seen in our healthcare solutions and diagnostics and life sciences segment, offset by drops in diabetes management. I will explain the breakdown of revenue and adjusted EBITDA by segment for fiscal 2022. On slide 21, diabetes management's revenue increased 2.2% year-on-year. Despite the increase in sales, though, the segment's adjusted EBITDA dropped 9.4% year-on-year. The segment's overall revenue of JPY 111.8 billion benefited from positive FX impacts of JPY 10.5 billion. Within the BU, on the BGM side, sales continued to decline due to the termination of the alliance in the United States, which we have been reporting on for the most part of all of fiscal 2022. On the CGM side, we continued to see growth in sales of the 180-day implantable product in the United States. Lastly, sales in our IVD business unit new automatic injector line continued to exceed plan. The segment's year-to-date adjusted EBITDA margin remained flat from Q3 at 33.2%, but the segment's adjusted EBITDA declined 9.4% year-on-year from JPY 41 billion in the prior year to JPY 37.2 billion. This decline was mostly due to the planned investments to reinforce the sales force for CGM product, a change in the BGM sensor channel mix from developed to developing markets, and lastly, a change in product mix as we saw increased sales of lower margin IVD and CGM product versus reduced sales of higher margin BGM product. On slide 22, you can see our healthcare solutions segment's revenue decreased by 2%, and its adjusted EBITDA decreased by 21.5% when compared to the prior year. Within the segment, our LSI Medience business unit saw an increase in regular testing and an increase in clinical trials and drug analysis. However, these positives were offset by reduced COVID test counts coupled with the negative impact of two cuts in the PCR test reimbursement price in Japan. Our MedCom business unit's revenue in fiscal 2022 benefited from the Japanese government's increased pressure on the industry to complete the rollout of the online eligibility verification system by the end of March. This business unit, though, also saw demand resulting from the start of the ePrescription operations, and it continued to report increases in software sales for receipt computers and dispensing systems from large pharmacy chain. The 21.5% drop in the segment's adjusted EBITDA from JPY 28 billion to JPY 22 billion caused its EBITDA margin to drop to 16.5%. This drop was mostly due to the two cuts in the PCR reimbursement price and a decrease in the demand for PCR testing in our LSI Medience business unit. A minor portion, as I mentioned last quarter, does relate to the growth in Medicom's online eligibility verification system revenue as this business comes at lower margins given we outsource the installation. Finally, on slide 23, our Diagnostics and Life Sciences segment's revenue and adjusted EBITDA increased 17.9% and 14% year-on-year respectively. The segment's reported revenue of JPY 108.8 billion included a positive FX impact of JPY 12.3 billion. Excluding this benefit, the segment's revenue came in at JPY 96.5 billion, an increase of 4.7% against a very strong prior year comp. Results were strong in both business units within the segment. Our Biomedical business unit, although experiencing lower demand for ULTs compared to what we saw last year, increases in demand, I'm sorry, they saw increases in demand for products unrelated to COVID from their life science research center clients. Our Epredia business unit saw in the second half a strong rebound in consumable demand in the United States and accelerating demand for its digital pathology products across the globe. During the year, both our Epredia Biomedical business units worked through rising direct material and logistics costs and supply chain issues, mostly related to lockdowns in China. Both business units were able to offset some but not all of the cost increases with higher prices. The uncovered gaps coupled with lower COVID demand for higher margin ULT freezers as compared to the prior year drove down the segment's adjusted EBITDA margin to 14.8%. On slide 24, we show revenue broken down by region. Japan reported a revenue of JPY 150.8 billion, almost flat versus prior year. In Japan, growth in Medicom's revenue due to the accelerated rollout of the online eligibility verification system and a rebound in LSI Medience's core clinical business was offset by reductions in PCR test revenue. In the EU region, they report a revenue of JPY 90.8 billion, a year-on-year increase of 7.1%. In Europe, strength in diabetes management from market share gains in mature markets and sales growth in emerging markets, coupled with strength in our Epredia business unit due to growth in instrumentation sales and inorganic M&A revenue, was able to offset decreases in our Biomedical business unit due to the high prior year COVID comp. The North America region reported revenue of JPY 74.8 billion, up 10.2% year-on-year. In North America, sales growth in the Biomedical business unit from our life science research center customers for non-COVID-related products and a year-on-year increase in sales of consumables and digital pathology products in our Epredia business unit were able to cover the negative impact on sales seen in our diabetes management segment related to the termination of the alliance in the United States. Sales in other region, which includes APAC, rose to JPY 40 billion, an increase of 12% year-on-year. In the APAC region specifically, strength in diabetes management in emerging markets was able to offset the weakness seen in China in our Epredia and biomedical business units due to various governmental policies and COVID lockdowns. On slide 25, we have provided a summary of the estimated impact COVID-19 had on our fiscal 22 results relative to prior year. In fiscal 22, a net sales tailwind I'm sorry, we had a net sales tailwind of about JPY 5.9 billion. This generated adjusted EBITDA of approximately JPY 1.9 billion. This compares to a net sales and adjusted EBITDA tailwind of JPY 22.7 billion and JPY 14.8 billion, respectively, for the prior period. The positive tailwind of JPY 15.3 billion seen in fiscal 2022 was due to PCR testing in our LSI Medience business unit and ULT sales, mostly into Europe by our Biomedical business. An esoteric testing demand in our LSI Medience business unit and the loss of sales in our Epredia business unit due to the lockdown of its Shanghai factory in Q1, which we reported on at the end of Q1. Our fiscal 2022 forecast expects no impact from COVID on either revenue or adjusted EBITDA. On slide 26, we provide a reconciliation between operating profit to adjusted EBITDA and a conversion of IFRS reported profit attributable to owners of the parent to a cash basis. On the top half of the slide, you can see that the only material items between operating profit and EBITDA are depreciation and impairment. Depreciation decreased year-over-year due to capitalized intangible assets in our diabetes management segment, which became fully amortized. An impairment dropped from JPY 18.4 billion in fiscal 2021 to JPY 9.6 billion in fiscal 2022. Between EBITDA and adjusted EBITDA, there are several items which I've been pointing out in the prior quarters. First, we had structural reform expenses of JPY 4.3 billion, JPY 2.5 billion of which was incurred in the headquarters. The majority of these costs relate to the early retirement support programs offered in Japan and the downsizing of our U.S. headquarters. In Q4, we recognized an additional charge of approximately JPY 600 million. The one-time special compensation of JPY 1.5 billion includes a portion of the retirement allowance paid to our former CEO in Q1. In Q4, we recognized an additional charge of approximately JPY 190 million. Lastly, as reported in Q1, there was a profit of JPY 1 billion reported in the other line in our diagnostics and life sciences segment related to the final termination of our transitional services agreement from the acquisition of our Apria business unit. In Q4, we recognized an additional charge of approximately JPY 190 million. For the quarter, the total charge was approximately JPY 1 billion. On the bottom of the slide, we have disclosed the profit attributable to owners of the parent company on a cash basis. Adjustments from the IFRS presentation include three sizable items. First, we reported impairment losses of approximately JPY 9.6 billion, of which JPY 8.7 billion was due to the impairment of goodwill on our Apria business unit. Secondly, we reported amortization expense of M&A-related intangible fixed assets of approximately JPY 12.3 billion. The approximate JPY 440 million increase versus prior year is due to the change in FX rates this year versus prior year, as a substantial portion of these assets are denominated in either USD or EUR. Lastly, as previously noted and explained in further detail on slide 36, there was a JPY 9.2 billion yearly mark-to-market on our Senseonics note. After adjusting these items for related tax benefits of JPY 5.3 billion, our cash-based profit for fiscal 2022 came in at approximately JPY 22.5 billion. Moving on to the balance sheet. Overall, there were no material changes in our consolidated balance sheet from March 2022. On the asset side, other than a JPY 34.3 billion decrease in cash to JPY 60.9 billion, a JPY 8 billion decrease in intangibles, and a JPY 4.5 billion increase in inventory, which can be seen in Tanshin, there were no other material changes in our total current and non-current assets. A bridge explaining the decrease in cash is provided on slide 28. In summary, our operations generated cash of about JPY 21.4 billion. About JPY 17.5 billion of this was reinvested in the business, of which JPY 11.5 billion was used to finance CapEx, and JPY 6 billion was used to internally fund bolt-on acquisitions. The drop in cash was principally due to debt repayments of JPY 25.9 billion and JPY 9.2 billion used to fund our interim and year-end dividends. Goodwill increased by JPY 2 billion as the impairment loss of JPY 8.7 billion was offset by FX, given that much of the goodwill is denominated in EUR and USD. Lastly, intangibles were down JPY 8 billion due to yearly amortization. Like on the asset side of the balance sheet, there were next to no changes in our total current and non-current liabilities other than the drop seen in our total loan payables. The current and long-term portions of loan payables decreased by about JPY 15.3 billion, from JPY 307.9 billion to JPY 292.6 billion. The decrease was due to repayment of JPY 25.9 billion, offset by an increase in the carrying value of the loans, mainly due to currency translation. Due to the decrease in our trailing 12 months adjusted EBITDA versus prior year, coupled with larger net loan balances due to FX and decreases in cash, resulted in our net leverage ratio rising from 3x at the end of March 2022 to 3.6x at the end of March 2023. On page 28, a bridge explaining the change in cash is provided. In the interest of time, I will not review this in detail, but I will be happy to answer questions when we get to the Q&A section of the presentation. I will like to explain the forecast for fiscal 2022. On slide 30, we have provided a high-level look at our fiscal 2023 outlook. On the top line, we are forecasting a slight decrease of approximately JPY 900 million to JPY 355.5 billion. The drivers of this drop by business unit are explained in more detail on the next slides and slide 23. At the operating profit line, we are expecting a recovery of JPY 29.3 billion, up approximately JPY 9.3 billion. When we get to slide 32, we will see that the increase is principally due to the unwinding of the impairment loss of JPY 9.6 billion, offset by investments we are planning to make to help accelerate the growth in the business. We are increasing our profit before tax by JPY 23.2 billion to JPY 23.4 billion. The majority of the increase is due to two factors. First, the unwinding of one-time charges taken in fiscal 2022, such as the impairment loss of JPY 9.6 billion, the JPY 9.2 billion valuation loss on our Senseonics note, and the JPY 3.9 billion FX loss recognized. Secondly, interest expense is expected to be lower by approximately JPY 1 billion based on the assumption that our gross leverage ratio will drop below targets in our bank loan covenants. Related to Senseonics notes, I do want to point out again, as Miyazaki-san pointed out, that from April 1, due to the exchange of the convertible notes to warrants, the mark-to-market valuation on this investment will no longer affect our profit and loss statement, as it will be measured through other comprehensive income based on IFRS. We are increasing our profit attributable to owners of the parent by about JPY 18.8 billion to JPY 15.6 billion. The take-up is equal to the increase in profit before tax, JPY 23.2 billion, reduced by an increase in tax expense. We do expect to see drops in our reported and adjusted EBITA in fiscal 2023 versus fiscal 2022 of JPY 1.8 billion and JPY 4.7 billion to JPY 56.8 billion and JPY 60.2 billion, respectively. The net of the above results in about a JPY 900 billion increase in our cash-based profit. Based on this, we have decided to keep our full-year dividend forecast for fiscal 2023 at JPY 72 per share. On slide 21, we show a comparison of fiscal year 2022's actual revenue with fiscal 2023's forecast. Excluding COVID and FX impacts, our adjusted net revenue is expected to increase approximately JPY 12 billion to JPY 355.5 billion. We expect to see growth in our Healthcare Solutions and Diagnostics and Life Sciences segment offset by a slight decrease in our Diabetes Management segment. However, within Diabetes Management, we expect to be able to offset most of the BGM drop with growth in CGM and IVD. Slide 32 shows the comparison of fiscal 2022's actual operating profit with fiscal 2023's forecast. We are forecasting an increase of JPY 9.3 billion from fiscal 2022's operating profit of JPY 20 billion shown on the right side of the slide to JPY 29.3 billion shown on the left side. The increase is mainly due to the decrease in impairment losses of JPY 9.6 billion. Within the bridge though, you can see three things happening. First, the negative effects and COVID impacts of JPY 3.3 billion are offset by lower depreciation costs and one-time costs, which are shown together in the chart at JPY 4.3 billion. Secondly, initiatives like price hikes and improvements in manufacturing efficiencies have been put in place to address issues we are currently seeing in our business, like inflation and margin compression in BGM. These, coupled with flow-through on incremental sales, are expected to improve operations by approximately JPY 1.9 billion. Lastly, these operational improvements, along with reductions in SG&A expenses and other costs, are being used to partially fund investments of JPY 6.9 billion to help accelerate the growth of the business. On slide 33, we have provided a forecast by segment. As this is similar to what was explained on the previous slide, I will skip providing further detailed explanations at this time, but again, we'll be happy to answer questions when we get to the Q&A section of the presentation. Lastly, on Slide 34, we have provided a top-level exchange rate sensitivity guide. We have listed only, again, U.S. dollars and euros, since these with yen make up about 85% of the group's revenue and 90% of the group's operating profit. For every JPY 1 of depreciation, we have an increase of approximately JPY 500 million versus the euro and U.S. dollar in revenue, and an increase of JPY 50 million versus the euro and JPY 40 million versus the U.S. dollar in operating profit. I will end my presentation here, but I do look forward to answering any questions. With that, I'll turn it back to.