We will now begin the financial results briefing of KOKUSAI ELECTRIC for the first quarter of the year ending March 2027. Thank you very much for joining today out of your busy schedules. I will be serving as the moderator, Matsumoto from Corporate Communications. It is a pleasure. Firstly, I will introduce today's speakers. Mr. Kazunori Tsukada, Representative Director, President and CEO. Hello. Mr. Yoshitaka Kawakami, CFO and Senior Vice President. Hello. The proceeding is at the beginning, Mr. Kawakami will present the first quarter consolidated results and the full year forecast. Next, Mr. Tsukada will present the outlook going forward, after which we will have questions and answers and plan to finish at around 4:00 P.M. Today's briefing is broadcast live online via Zoom. If the stream disconnects or the video freezes during your viewing, please wait a moment and try reconnecting. The presentation and answers during questions and answers will be delivered in Japanese. Simultaneous English interpretation service is available to the participants. As today's briefing is intended for institutional investors and analysts, please be advised that questions will be limited to institutional investors and analysts. Thank you for your understanding in advance. Please also refrain from recording or taking photos. We will now begin the presentation. Mr. Kawakami, please go ahead. I am Kawakami, Senior Vice President and CFO. Thank you for joining us today at KOKUSAI ELECTRIC's earnings call. I will first go over our first quarter financial results, as well as full year earnings forecast. These are disclaimers that I will omit explaining. First, here is an overview of our first quarter financial results. Page four are the highlights, where I will explain the specifics from the next page and onwards. Page five presents a summary of our consolidated financial results for the first quarter. Both revenue and profit increased quarter-on-quarter as well as previous quarter. This was owing to uptick in service revenue, mainly from component sales and others, resulting in both revenue and profit exceeding our initial forecasts. Revenue of JPY 75.4 billion set a new record high for a single quarter. The gross profit margin of 40.7% saw a 2.2-point decline year-on-year, where the proportion of NAND-related equipment sales was high. However, compared to the previous quarter, it rose by 1.3 points owing to production utilization increase in others. Furthermore, the increase in revenue led to a decline in the ratio of SG&A expenses and profit margins from adjusted operating income onwards rose both year-on-year as well as the previous quarter. The first quarter orders received totaled approximately JPY 140 billion, exceeding initial forecasts by about JPY 67 billion. The increase was particularly significant for DRAM for China, as well as for NAND sold to non-China and China. This strong demand is expected to continue into the second quarter. Page six details the factors contributing to the year-over-year changes in revenue and adjusted operating income for the first quarter. Revenue increased by 46% year-over-year to JPY 75.4 billion owing to growth in non-China equipment sales. Adjusted operating income increased by 59% year-over-year to JPY 17.4 billion, as gross profit rose owing to a significant growth in sales despite the total gross profit margin decline due to the product mix change. Page seven shows quarterly equipment and service sales by application. In the first quarter, although sales for NAND decreased by 34% year-over-year, sales for DRAM increased by 158%, and sales for logic foundry increased by 82%. Although sales for DRAM decreased by 2% in the most previous quarter, sales for NAND increased by 84%, and sales for logic foundry increased by 38%. Page eight shows equipment and service sales by application broken down into sales to non-China manufacturers and sales to China manufacturers. In the first quarter, sales to non-China manufacturers saw increases in equipment and service revenue for major applications both year-on-year and compared to the previous quarter, resulting in a 75% year-over-year increase and a 23% increase versus the previous quarter. Sales to local Chinese manufacturers in the first quarter saw an increase in equipment and service sales for logic foundry applications both year-over-year and the previous quarter. Yet, year-over-year, NAND segment equipment sales, going through a transitional period, resulted in a slight 3% decrease year-over-year. Compared to the previous quarter, sales rose 18%, marking a recovery trend following the low point in the fourth quarter of the previous fiscal year. Furthermore, while sales to non-China increased year-on-year, sales to China declined, resulting in a fall to 25% for share of sales to China. Page nine shows revenue by destination. First quarter sales to China decreased year-over-year, but increased quarter-over-quarter. Outside of China, sales increased in all regions, both year-over-year as well as the previous quarter. The percentage of sales to China remained at 28%, the same level as the previous quarter. Page 10 shows the quarterly trends of the balance sheet. Total assets increased by JPY 11.2 billion compared to the end of fiscal year ending March 2026, owing to increase in inventory from production growth, as well as increase in trade and other receivables. Total liabilities increased by JPY 5.6 billion compared to the end of the fiscal year ending March 2026, due to increased trade and other payables from increased production. Total equity increased by JPY 5.6 billion compared to the end of the fiscal year ending March 2026, primarily owing to an increase in retained earnings. Page 11 shows the key financial indicators from the quarterly balance sheets. The equity ratio decreased by 0.4 percentage points from the end of the previous fiscal year to 60.6%. In addition, we maintained our net cash position from the end of the previous fiscal period, with net cash standing at JPY 6.6 billion. Page 12 shows quarterly cash flows. Operating cash flow inflows exceeded investment cash flow outflows, resulting in free cash flow of JPY 6.6 billion. Cash flows from financing activities resulting in an outflow of JPY 6.4 billion due to dividend payments and buyback. Page 13 shows quarterly R&D expenses, capital expenditures, and depreciation expenses. Research and development expenses for the first quarter totaled JPY 4.5 billion. The ratio of R&D expenses to revenue fell to 5.9%, owing to increase in revenue. R&D expenses for the fiscal year ending March 2027 are expected to increase by about 10% year-on-year, projected to total approximately JPY 20 billion. Capital expenditures for the first quarter totaled JPY 4.8 billion. We are currently investing a total of JPY 20 billion to construct a demonstration center in Oregon, USA, aiming for operational start in January of 2027. Consequently, capital expenditures for the fiscal year ending March 2027 is expected to increase by about 70% year-on-year to approximately JPY 29 billion. Depreciation expenses for the first quarter totaled JPY 3.9 billion. This figure is expected to remain at a similar level going forward and is expected to increase by about 10% year-on-year, reaching approximately JPY 16 billion. Next, I will explain the full-year earnings forecast for the fiscal year ending March 2027. Page 15 shows the highlights. Details will be shared starting on the next page. Please turn to page 16. We are revising the earnings forecast and dividend forecast for the fiscal year ending March 2027 that was announced on May 13th at our full-year earnings call for fiscal year ending March 2026. Revenue was expected to significantly exceed the previous forecast, owing to a substantial increase in sales in the equipment business. We have revised the first half forecast upwards by 6% to JPY 161.0 billion, a 37% increase year-over-year, and a full-year forecast upwards by 21% to JPY 340 billion, a 45% increase year-on-year. We have also revised our profit forecast upwards in line with the revenue increase. Adjusted operating income has been increased by 10% to JPY 39.2 billion, a 55% increase year-on-year, and a full-year forecast has been raised by 42% to JPY 86 billion, an 81% increase year-on-year. Adjusted net income for the first half was revised upwards by 11% to JPY 27.8 billion, a 60% increase year-over-year, and a full-year forecast has been raised by 40% to JPY 60 billion, a 76% increase year-on-year. The dividend forecast has also been raised in line with the upwards revisions to adjusted net income, with the interim dividend forecast increased by JPY 9 from JPY 23 to JPY 32, and have revised our year-end dividend forecast upwards by JPY 9 from JPY 24 to JPY 33. The projected annual dividend is expected to be JPY 65 per share, and the consolidated dividend payout ratio based on adjusted net income is projected to be 25.2%. Page 17 summarizes the factors contributing to changes in the earnings forecast for the fiscal year ending March 2027, comparing it to the previous forecast announced at the earnings call for fiscal year ending March 2026. Revenue is expected to exceed previous forecasts for both equipment sales to non-China and China, as well as for service revenue. We have raised the forecast by 21% from the previous forecast to JPY 340 billion. In addition, profitability is expected to improve due to product mix changes, and as such, the gross profit margin has been raised by 1 percentage point from the previous forecast of 42% to 43%. Regarding adjusted operating profit, owing to a significant increase in sales and a rise in gross profit margin, we have raised the forecast by 42% from the previous forecast to JPY 86 billion. Page 18 summarizes the factors contributing to changes in earnings forecast for the fiscal year ending March 2027 compared to the previous fiscal year's results. Revenue is expected to increase owing to higher sales of equipment to non-China customers, higher sales of equipment to China, and higher service revenue, and is projected to increase by 45% compared to the previous fiscal year. Adjusted operating profit is projected to increase by 81% year-over-year owing to higher sales, as well as rise in total sales gross profit margin from improvement in production capacity utilization resulting from increased production volume and a total gross margin improvement from product mix changes where the increase in SG&A was absorbed. Page 19 shows chronologically revenue in non-China and revenue in China from March 2023 to March 2027 forecast. Revenue in non-China bottomed in March 2024. Since then, the revenue increase trend has been continuing, with greater acceleration in March 2027. Non-China revenue forecast is revised 14% upward compared to the last forecast, driven by stronger than expected demand for NAND and logic and foundry equipments, including advanced packaging. NAND sales are expected to grow 95%, DRAM sales 39%, and logic and foundry sales 89% year-on-year. Each application is expected to grow significantly, totaling non-China revenue growth of 49% year-on-year. Revenue in China is revised upward by 39% compared to the last forecast, a 37% increase year-on-year with greater than expected increase in DRAM equipment demand. For China NAND sales, in the last forecast, we expected a sharp fall due to major device manufacturers' investment transition period, but are now projected to drop only slightly as demand has been increasing recently. March 2028 onwards, we expect China NAND equipment sales also to shift to a growth trend. With faster than expected pace of revenue growth in China revenue share rose 4 points compared to the previous forecast to 33%. We expect the share to trend around 30% going forward. Page 20 shows revenue forecast by application of equipments and service. In March 2027, driven by generative AI demand, we expect semiconductor device makers to accelerate CapEx for generational shifts and capacity expansion, mainly in high-performance devices. Therefore, equipment sales are projected to grow strongly across all applications: NAND up 49%, DRAM up 61%, and logic foundry up 65% year-on-year. Page 21 shows revenue forecast by destination. Revenues are projected to grow across all regions year-on-year. China's share is expected to reach 38%, partly due to active CapEx by non-China manufacturers for their plants in China. While export controls and tariffs have no direct impact currently, we will monitor closely together with potential indirect impacts. Page 22 shows revenue forecast by equipment. High value-added equipments are expected to account for about 70% of equipment sales in March 2027. We will accelerate the adoption of high value-added products as generational shift investments progress in each application. This concludes my presentation. I am Kazunori Tsukada, President and CEO. I will explain our future outlook. Page 24 outlines our business environment. Our view is that in the semiconductor device market, AI-related demand will continue to strongly drive CapEx, especially in high-performance devices among device manufacturers. On the other hand, non-AI related industrial equipment uses are in a recovery phase, awaiting full recovery. For the mid to long term, our view remains unchanged that the overall semiconductor device market will grow at a pace faster than expected so far. Regarding the calendar year 2026 WFE market size, during our March 2026 earnings announcement, we projected a 15% year-over-year growth to around $120 billion-$125 billion. With AI-related investments accelerating further centered on DRAM and NAND, we have raised our outlook by about 10 percentage points, now expecting year-over-year growth of over 25%, reaching around $140 billion. Page 25 provides an update of our midterm management plan. When we announced the March 2026 results, following changes in the market environment, we reviewed the timing of achieving the midterm plan. We now expect to achieve our revenue target of JPY 330 billion in March 2027, two years ahead of schedule. Sales mix by application is also approaching target levels as a result. For the midterm adjusted operating margin target of 30% or higher, we aim to achieve in March 2028 through operating leverage coming from larger scale of revenue. We will build higher profitability by raising the mix of high-value added products with device generational shifts, reducing production costs via higher utilization rate, and controlling fixed costs and SG&A. Page 26 covers production capacity and sites. Capacity utilization is expected at an average of 70%-80% in the first half, over 80% in the second half of March 2027, and higher next fiscal year. Production lead time is currently around eight months. While current capacity secures our JPY 340 billion revenue forecast for March 2027, we are expanding capacity to meet increasing demand March 2028 and beyond. We are evaluating rapid capacity expansion on newly acquired land next to the Tonami plant while ramping up production engineer recruitment and putting in various measures. Through these efforts to increase production, monthly unit production capacity is targeted to reach 2.5x of the March 2025 level in 10 years. Page 27 outlines shareholder returns. It is our management priority to deliver stable, continuous, and proactive returns to our shareholders, and the basic policy is a consolidated payout ratio of around 20%-30% of retained earnings. Following this policy, with a revision to the guidance, we raised our annual dividend forecast by JPY 18 for March 2027. Further, following the shareholder return policy, we announced share buybacks at the time of financial results announcement for the year ended March 2026 and have subsequently announced the cancellation of these treasury shares. We completed the up to JPY 5.3 billion share buyback, resulting in purchases of about 570,000 shares on July 27th. All acquired shares will be canceled on August 31st. Finally, page 28 summarizes the semiconductor device development roadmap, business environment, and our catalysts. Semiconductor device makers are rapidly accelerating CapEx for high-performance devices for generational shifts in production capacity, and they are also expected to increase CapEx for general purpose devices. For NAND, we are optimistic that capacity expansion investments will finally resume. While for DRAM, CapEx is likely to become more active for generational shift and capacity expansion driven by AI. In logic and foundry, we can expect more device manufacturers to implement CapEx for GAA. In advanced packaging, our film deposition technology is our competitive advantage, and we can expect to win new PORs. For the evolution of semiconductor devices, we are actively collaborating with customers on the development of next-generation devices and will further promote proposals aimed at securing new PORs. In particular, we will create opportunities for our batch ALD-compatible equipment and single-wafer plasma treatment equipment, our strengths, and aim for sustainable sales growth faster than the WFE market, alongside a highly profitable business structure. Thank you very much for your attention. That concludes our presentation. We would now like to open the floor for Q&A. Those who have questions, please utilize your menu bar, chat button, or click on the Q&A button to send in a text question. If you are sending question by text, please make sure that you have your company name as well as name included. It will be read by the operational side on your behalf. Once the emcee appoints you, please unmute yourself, state your company name as well as your name, and then address your question. Now we would like to open the floor for questions, please. Yu Yoshida. Thank you. This is from CLSA Securities, Yoshida. Congratulations on great earnings call. In terms of your by-application equipment sales outlook, in the first half, as well as by application, when you look at the full year, when you look at the first half, do you have an outlook? If that is available, please share. In the slide, I think it was JPY 234 billion for equipment sales previously. It's JPY 225 billion now. Is there some kind of an upgrade from the previous version of your equipment included? If so, what is the percentage? For surrounding the sales outlook of JPY 340 billion in terms of equipment by application, when we look at the first half, for NAND, it is 17%. DRAM is 43%. Logic foundry will be 36%, and others will be 4%. This will be the percentage by equipment and by application. Upgrade portion has been included. Please give us a moment. Thank you. As for upgrade modifications, in the first quarter, sales was JPY 14 billion. From the second quarter and beyond, it was JPY 11 billion for the second quarter. Overall, for March 2027, when we look at the full year, the upgrade modification will be JPY 39 billion that we are forecasting, and that has been priced in. Just for clarification, for the first half, when it comes to the value for just equipment, I think you gave us a breakdown for equipment only. What is the value for just the equipment portion? The previous outlook for equipment, the numbers have changed. Can you please give us a backdrop to why the numbers have changed for your outlook? For the first half, the equipment sales was JPY 130.4 billion, service was JPY 30.6 billion. That is our outlook of now. As for the upgrade modification, it is a new standard that we are going by, and maybe that's why there is a change in the numbers. Understood. If there's anything that you can maybe elaborate separately, that would be very much appreciated. Thank you. Secondly, as for the WFE outlook, I think you have tried to see an upwards revision. Going into next year, do you have an outlook at this point in time? From your earnings base, how are you observing how the next fiscal year will look? If there's a further uptick that you can expect, when will that be more visible? Going into next fiscal year and going into next year, if you have an outlook and you are thinking, that would be very much appreciated. For WFE calendar 2026 to 2027, it should be maybe about a 20% increase that we are anticipating at this very moment. However, going into 2027, there are some hints that maybe WFE will rise even further. At this moment, we are expecting about 20% growth. As for our sales, that was addressed in your question. Needless to say, we want to grow above the WFE growth, that's how we intend to expand our top line. For March 2027, we want to go for more than a 20% increase. That is something that we are currently hoping for. If you have by application exactly where it could be growing and contributing, can you comment? That would be appreciated. We expect that DRAM will be more hopeful continually. NAND investments should be increasing to a certain extent as well. That is what we anticipate. NAND sales could be getting very close to record highs, and that's something that we are picking up as a hunch. As for advanced packaging, there should be sustainable investment that should be happening, and therefore, advanced packaging's growth should be continuing. That's what we anticipate as an outlook as well. Thank you. Thank you very much. Next is Suzune Tamura-san, please. Morgan Stanley Securities, Tamura speaking. We are seeing WFE. On this page, I have a question. Outlook of China. Chinese WFE market. If we look at that WFE market just in China, what is the outlook? Within that, what is the number by application, please? China and non-China, we have divided. Within China, what is the breakdown by device and application? Sorry, we don't have the information prepared. Excuse us for that. China local, the WFE year-on-year is 5% +. This is the current outlook. That is year 2026? In year 2026, yes. How about for 2027? Do we have the 2027 information? For year 2027, sorry, the overall feel that I expressed earlier is about 20%, as I said earlier. By region, we don't know. We don't have the information available yet. Many apologies. All right. I see. My second question, in the presentation, you also touched upon somewhat that is sales JPY 330 billion. Once going more than that, you need to increase your production capacity, as you have said from the past. This year, you are able to support the increase in production and in the production field and for supply chain. How pressed are you? Going towards next fiscal year, how much can you support production-wise to cater for the demand? Production capacity-wise. Do we need to increase something big, like an entire building? No, even without doing that, we can increase production. For instance, the existing three production sites we have today already, how can we increase efficiency and effectiveness of production there will allow us to increase production. Therefore, first of all, we will increase the number of people working. We will increase the number of shifts. That is the preparation we are undergoing right now. One more important point, as raised in your question, is the supply chain. Raising production capacity to the level we aim for, there are partners who can follow and keep up with us, and there are also suppliers who cannot catch up. So that they will not be the bottleneck, so that we can work lock in step. We will provide all the support necessary from our side. We want to prevent any bottlenecks in the supply chain. We are preparing. Lately, do we see any bottlenecks to prevent our production increasing? We are not seeing that happening. Lately, you said, but how about for next year? WFE will be growing 30% next year, we hear. In this backdrop, will the suppliers not become a bottleneck next fiscal year onwards? Don't you have this concern? On this, it is not just limited to us, but SPE companies to the key suppliers have provided their production outlook, which means suppliers are also preparing and taking action to build production capacity and to increase production. At the beginning of the year, compared to the WFE, what we expected then, we are seeing about two years advancement in schedule. Which means we need to increase production two years quicker. There has to be CapEx and capacity increases for two years necessary ahead of schedule. I see. As for the plan for this fiscal year, I want to hear the upside to this year's forecast. You said lead time is eight months, which means no different compared to the last time. Which means for the second half of the year, you are fixed, which means sales revenue wise, there can't be much upside any further. Is this the right understanding? Profit wise, in year-on-year, if you have as much profit increase this much, my impression is that other companies are increasing profits a bit more. How much profit upside can you expect? In your case, there can be fixed costs. This will have to be increasing. Are you taking a conservative view, especially in certain aspects? In that case, please highlight. For sales revenue, JPY 340 billion is the revised forecast now. This is the base that we can for surely clear. Profits, since revenue is going up, some outsourcing will take place because of the increased production. Payroll will go up, which we have factored any increase, including bonus, which means profit wise, we can for sure defend this number. How much higher in profit compared to this number, we need to see further. In a sense, is this the minimum you are going to achieve as profit? I think we can clear this number. I see. Thank you. Thank you. Next, moving on to Wadaki-san. This is Wadaki from SBI SECURITIES. Thank you. First, this is the market earnings, I think theme, which is China exploding. China is probably seeing an explosive situation. How much have you priced that in? How sustainable is this going forward? What is the backdrop to this explosion that's happening in China? What is your read? When it comes to demand from China, it is increasingly becoming very strong. It is a major logic foundry, DRAM, NAND, across all areas, a very bullish situation is happening most recently, then it's looking like it will continue from next fiscal year and onwards as well. Together with this, the medium to small cap emerging chip manufacturers demand is also proving to be stronger. We don't think this is one-off. Having said that, at a minimum, this fiscal year and next fiscal year, a very strong situation should be continuing. There are some companies that have announced that they will be building new factories as well. Therefore, a very strong demand should be continuing for a while, that is our read. Hearing what you shared. It seems like your sales revenue is really growing in China. When it comes to Chinese customers, they try to match our production lead time when they place orders. Therefore, our sales outlook can be priced in to a certain level. The graph that you see on page 19, would it really exceed these numbers? I don't think that is that probable. However, components that is under services. When there's order intake and there's sales, that will be booked immediately, could be some anticipation for an uptick. Moving on to memory investments. We do believe that WFE is going to be growing very solidly, and if there is going to be a turning point, exactly when would that be and how would that happen? Do you have an outlook? Do you have a view? At this moment, even though it is a bit delayed, the DRAM D1c transition has already been completed. D1d transition should be progressing going forward. Up until D1d, I do believe that each of the players seem to be a bit behind, but I do believe that it may try to meet the initial timing. If there are any changes, VCT DRAM transition, is it really going to happen at a timing that we had initially anticipated? That is the question mark. We can't be that confident. There could be some changes to the initial read, and that's what we are picking up at the moment. Understood. Lastly, maybe pricing change or maybe pricing transfer, could that be happening? There is material cost as well as personnel cost that is increasing. Therefore, we have been trying to price that in into a pricing change as well, and we have been engaging on that front. As for things that have already been sold, and when there is a new negotiation timing, we have been negotiating with the customers very solidly, and that's what we have been doing to date as well. We will continue to negotiate going forward as well. As for the to-be newly released products, the product will be offering quite a bit of value. Based on that value, we hope that customers will be acknowledging the worth. Based on that, we would like to negotiate, and that is how we intend to change our negotiation approach as well. Thank you. Thank you very much. Next is Nakamura-san from Goldman Sachs Securities, please. Thank you very much. My first question is, next fiscal year, the adjusted operating profit margin, 30% is your target. Continuously, the jump from this year is quite big, and you are increasing sales. With sales increase, you are going to aim to achieve this target of operating margin of more than 30%. Price increase that you just mentioned, would also this be contributory to the profit margin improvement? Can you comment further about improving profit margin? Pricing change is one important factor for margin improvement. Plus, one other factor is NAND. NAND CapEx is about to become quite strong. Because of this outlook as well, product mix will be improving. This will also contribute to improving operating margin improvement. Top line will go up, product mix will improve, higher margin products will be increasing, plus pricing revisions to be factored in. These are the factors for achieving 30% or higher adjusted operating margin. Thank you. One confirmation question. Earlier, the price increase stance you explained about material cost and personnel costs you will be passing on to customers, you mentioned. Even more than that, with price increases, do you want to further improve profit margin? For instance, same equipments. Looking at the changes in supply and demand, will you be changing prices? Which means something like dynamic pricing. Something like dynamic pricing, I think is difficult to do. Even within similar product groups, each product generation will have its proper value added, and we will have value recognized. For instance, in the TSURUGI series, there are several generations of products, and we are raising prices. We are raising price setting. We have this past track record. We will continue to do so. I see. Thank you very much. My second question is production capacity, a confirmation question. Page 26, left-hand side is the image of production capacity and the bars. This is expressed in terms of sales or number of units in production. What is the scale? That is one question. Demand is pretty strong. Whether you have enough production capacity, can you secure enough materials and components? This is the concern. For instance, company-wide, sales-wise, if you can express company-wide, sales-wise, next fiscal year's production capacity and March 29th production capacity, how much can you secure capacity for these timings? First of all, the bars. This is unit basis. Monthly unit production or annual unit production, whether it's a matter of multiplying by 12 times or divide by one twelfth, no different. It's number of units. Wise. How can we secure enough production capacity? On this question, as I mentioned earlier, in order to manufacture, we need the box. That is not the case. We do have enough box or the production plant. We do have the building. The key is production engineers, the people engaged in production, and the suppliers. How do we get the suppliers increase their production capacity? As I mentioned, for about two years, we are seeing timings advance. In our midterm plan, this is within our expectation, within our anticipation. In the midterm plan, we have identified what we need to do, and we are about to do them now. In this Tonami plant, next to this Tonami plant, the land was acquired, and in the near future, we will be using this land, the neighboring land we acquired, and we want to achieve the necessary production capacity. Next fiscal year, if we are going to grow more than WFE growth, which means more than JPY 400 billion sales next fiscal year. As of this stage, are you securing as much production capacity? Have we already secured as much production capacity? It is difficult to answer your question. Internally, what is the shape we need? We have anticipated sufficiently. How do we need to increase people, and to what level do we need to ask suppliers to increase capacity? We have specifically been preparing. I see. Thank you very much. Thank you. Moving on to Yoshioka-sama from Nomura Securities. This is Yoshioka from Nomura Securities. Thank you. Two questions, please. The first is for WFE 2027, exactly how to understand this. In your response, you were saying that the NAND area should be growing to a certain extent as well. Allow me to once again understand further. NAND investment was basically tech migration. However, going to 2027, there could be a new capacity increase, meaning greenfield investments could be increasing. Is that something that you already foresee? If so, what would be the advantages that you will be enjoying? Is tech migration going to be more advantage that you will enjoy, or is it greenfield investments that will give you more of a benefit? What would be the benefit impact that you will be enjoying from each of the respective investments? When it comes to NAND, most recently, the demand supply dynamics is really not fully adjusted yet. At this very moment, each of the memory players are allocating clean room for DRAM and making investments into the DRAM clean room area at the moment. NAND wafer output needs to be increased, otherwise demand will not be met, and that is a situation that we're starting to see. Therefore, at a minimum, NAND greenfield investments should be seeing some action, and each of the memory players are starting to prepare for clean room building, therefore, that is something that we could be hopeful of. Further, when it comes to generational change investments versus greenfield investments. When it comes to generational shift investments, a specific process or specific equipment will be necessary for generation change when the investments happen. When it comes to greenfield investments, it will be a very broad equipment demand, therefore, we definitely welcome that type of a situation. Is there more of a benefit that would be concentrating for KOKUSAI ELECTRIC, specifically when it comes to a tech migration investment? If it's greenfield, it would be something that would be for the industry as a whole. Relatively speaking, how does that look? When it comes to tech migration, there are equipment that can be used across different generations, and we offer that to a certain extent. When it comes to greenfield, the PORs that we have, all of them will be converting to sales to a certain extent. We do believe that it will be more favorable for us, meaning that the greenfield investments will be broad of a positive impact for us. The second question is surrounding some numbers. Traditionally, I think you have been planning that for March 2027, the GAA sales. How have you changed the outlook for advanced packaging? I think in your presentation, you were mentioning that you would like to secure new PORs as well. Can you maybe share with us exactly how the plan numbers have been evolving and what your most recent numbers are? As for GAA sales, in this first quarter, it was about JPY 5 billion. For March 2027 full year base, we are thinking it will be over JPY 20 billion as an outlook. For advanced packaging, for March 2026, it was JPY 6 billion where we landed. For March 2027, we are anticipating JPY 15 billion. The first quarter was JPY 4.5 billion, therefore annualized terms, we are expecting JPY 15 billion. Thank you. As for advanced packaging, this JPY 15 billion that you have as a plan, has there been an upwards revision compared to the previous number that you had announced? Yes. In the previous fourth quarter, I think it was JPY 6 billion. We have increased this to JPY 15 billion. That's a significant upwards revision. What is a backdrop to this? Is it because of the order intake that has increased, or is there a POR that you have secured? Both. It's basically the customer's CapEx spending has been increasing, and that would be the base. KOKUSAI ELECTRIC has also increased the number of PORs that we have secured as well. It's a result of both. Thank you. That's very well taken. Thank you very much. Next is Shimamoto-san from OKASAN SECURITIES, please. Shimamoto from OKASAN SECURITIES. I have a capacity confirmation question. In the last presentation, Tonami Plant, there will be need for a new clean room facility introduced. I think that was what you explained. How is the progress on this right now? Did we say so? Tonami Plant. In Tonami, in order to produce, there is some space that is not yet turned into clean room. We are using like for warehouse use. We are going to renovate into clean room, which will allow us to increase production capacity. That is one aspect. Lately, recently, and also next fiscal year and March 2028, are we going to increase the clean room space? Even without doing so, we will be able to increase the production capacity to the necessary level. This is the plan. After that point, looking at future point beyond then, in parallel, we are considering to prepare for the clean room. I see. The utilization rate, you disclosed more than 80%. How should we accept that? How should we think about this? Currently, what is your shift? One, two, or three shift production. It may be possible. Three shift production, full production up to midnight. On that basis, 80% or fully utilized. What is your utilization picture right now? Using the current space, do we run 24/7 on full basis? If we do so, let's say that would be 100% utilization. This is our thinking, actually. Theoretically, this is the maximum used as denominator, and shift-wise, we have 1.5 shifts right now. There is room to increase the number of shifts to increase production. In that sense, for next year, what you're going to do is you are going to raise utilization to 100% without increasing shifts, and then you can increase shifts and produce more? We will. But if we increase shifts to three shifts, then this full usage of shifts would be 100% using this as the denominator, which means we have more room to increase production. I see. Thank you. I understand that there are more questions that have been sent in. However, we would like to conclude our Q&A session here. Thank you all very much for attending the earnings call. After the earnings call has concluded, we will be sending out questionnaires. We would like to utilize this for our IR activities going forward, so we would very much appreciate your populating the questionnaires. We would like to conclude our earnings call here. Thank you once again for your attendance.