My name is Murao, President of GS Yuasa Corporation. Let me start by offering a word of appreciation to institutional investors and analysts. Without further ado, I would now like to report on the financial results for the fiscal year ended March 2021. First, I would like to start with net sales and profit for fiscal year 2020. We registered JPY 386.5 billion in consolidated net sales. This was due to a decrease in sales of lead-acid batteries for new automobiles and of lithium-ion batteries for plug-in hybrid electric vehicles, both in Japan and overseas. Next, we registered JPY 24.8 billion in operating income, a year-on-year increase of 14.5%. This resulted from strong sales of replacement batteries for automobiles and lithium-ion batteries for hybrid electric vehicles, both in Japan and overseas. Next, we registered JPY 11.5 billion in profit, a year-on-year decrease of JPY 2.2 billion. This resulted from the recording of JPY 2.76 billion in impairment losses associated with one of our consolidated subsidiaries. Additionally, operating income and ordinary income broke new records. Page five discusses the factors for operating income change. Of particular importance here is the sales composition change of batteries for new automobiles and replacement batteries and lower prices for raw materials. Both factors made a positive contribution. Page six contains the segment results. I shall be discussing the details next. I would like to start with our results in the automotive battery segment in Japan. In this segment, we registered a decrease in net sales accompanied by an increase in operating income. The sales overview was as follows. Sales volume for batteries for new automobiles decreased due to the severe impact of COVID-19 in the first half, despite a recovery trend in the second half of the fiscal year. On the other hand, sales volume of replacement batteries increased due to the impact of cold weather at the end of the year, in addition to the factor of steady sales starting in the first half of the fiscal year. Page eight deals with GS Yuasa's market share for batteries for new automobiles and replacement batteries. Starting with batteries for new automobiles, our market share grew from 68% in fiscal year 2017 to 73% in fiscal year 2020. This represents an increase of five percentage points. This is the result of an increase in adoption of European standard compliant, abbreviated as EN batteries, a type of battery GS Yuasa has a competitive advantage in. Regarding replacement batteries, our market share grew from 53% in fiscal year 2017 to 58% in fiscal year 2020. This too represents an increase of five percentage points. This was thanks to an increase in replacement demand for batteries for start-and-stop vehicles. I would like to discuss our results in the overseas automotive battery segment. In this segment, we registered an increase in both net sales and operating income. The sales overview for fiscal year 2020 was as follows. In ASEAN, sales volume of batteries for new automobiles and motorcycles decreased in Indonesia and Thailand. In Vietnam, sales volume of batteries for automobiles and motorcycles increased exceptionally. In China, sales volume of batteries for new automobiles and replacement batteries increased due to a quick recovery from the impact of COVID-19. In Europe and Australia, sales volume primarily of replacement batteries for automobiles increased significantly because of less impact of COVID-19 to our business. Page 10 discusses sales and market share by region in the overseas automotive battery segment. We boast a particularly high market share in the ASEAN region, even within the broader region of Asia, 34% for automotive and 48% for motorcycle. Both represent the number one market share for the ASEAN region. Our strategy for the ASEAN region is to aim to maintain a high market share while at the same time improving profitability through the introduction of high-value-added products and optimal production systems. Page 11 discusses our results in the industrial battery and power supply segment. In this segment, we registered a decrease in both net sales and operating income. The sales overview for fiscal year 2020 was as follows: Although sales increased in Japan, thanks to the start of supply of lithium-ion batteries for the large wind power generation project, sales volume of batteries and power supply systems for backup for clients in the telecommunications business, railway companies, and private sector companies decreased year-on-year. Additionally, sales of batteries for backup in North America and lead-acid batteries for forklifts in China recovered. However, sales of batteries for forklifts in Thailand to be sold in the ASEAN region decreased on a full fiscal year basis. Page 12 contains an overview of net sales by model for the Industrial Battery and Power Supply segment. Industrial batteries and power supplies account for the greatest portion of sales. Allow me to give you a breakdown by demand source. We started production and supply to a world-class storage battery facility, and this falls under private sector demand, leading to a significant increase in net sales from this demand source. We registered slightly sluggish net sales growth from railway companies as a result of COVID-19. Page 13 discusses our results in the Automotive Lithium-Ion Battery segment. In this segment, we registered a decrease in net sales and a narrowing of operating losses. The sales overview for fiscal year 2020 was as follows: I would like to start with Lithium Energy Japan, which manufactures batteries for electric vehicles, plug-in hybrid electric vehicles, and energy storage systems. Production volume of automobiles of our main customers decreased due to the impact of COVID-19 for the full fiscal year. However, sales of lithium-ion batteries for a new plug-in hybrid electric vehicle model, more specifically Mitsubishi Motors' new Eclipse Cross model, was very strong in the fourth quarter. Next, I would like to discuss Blue Energy, which manufactures lithium-ion batteries for hybrid vehicles. Sales of batteries for Honda Motor Company Limited increased due to supply for a new vehicle model from the end of last fiscal year. In addition, supply for Toyota Motor Company Limited started this fiscal year, and sales have remained strong. More specifically, this refers to Toyota Motor's Harrier model. Lastly, I would like to discuss GS Yuasa Hungary, which produces low-voltage 12-V lithium-ion batteries. From November 2020, mass production has already started. Page 14 discusses our results in the segment of Specialized Batteries and Others. In this segment, we registered a decrease in both net sales and operating income. In particular, the sales overview for specialized batteries for fiscal year 2020 was as follows: Production of lithium-ion batteries for submarines progressed smoothly. On the other hand, sales of lithium-ion batteries for aircraft decreased due to the impact of COVID-19. Page 15 contains the balance sheet statement. Starting with the left-hand side, cash and deposits increased by JPY 11.1 billion, resulting from the accumulation of cash on hand as a countermeasure to the impact of COVID-19. Working capital increased by approximately JPY 1.9 billion. Trade accounts receivable and inventories increased by JPY 3.7 billion and JPY 3.6 billion, respectively. On the other hand, as shown on the right, trade accounts payable decreased by JPY 5.4 billion. We registered an increase of JPY 10.7 billion in investment securities derived from the mark-to-market valuation of our stock holdings. Net defined benefit assets increased by JPY 11 billion. On the right, we registered an increase in deferred tax liabilities, net unrealized gains on available-for-sale securities, and remeasurements of defined benefit plans. Dividends increased by JPY 8.7 billion. Foreign currency translation adjustments resulting from a weaker JPY increased by JPY 6.7 billion. Moving on to the bottom of the page, the equity ratio increased by one percentage point year-on-year and stood at 46.8%. Total borrowings stood at JPY 65.4 billion as of March 31st, 2021, a slight year-on-year increase. I would now like to discuss the cash flow statements. The highlights are as follows. We secured profit before amortization, allowing us to deliver operating cash flow totaling JPY 35.8 billion, exceeding the JPY 33.1 billion a year ago. In spite of payment for the acquisition of property, plant, and equipment, free cash flow came to JPY 16.5 billion, which was allocated to fund shareholder returns and the accumulation of cash on hand. Page 17 shows capital investment, depreciation, and R&D costs for fiscal year 2020. The main investment carried out during fiscal year 2020 was investment related to BEC, which manufactures lithium-ion batteries for hybrid vehicles, and capital investment associated with our base in Thailand for the production of automotive batteries for the ASEAN market. I would now like to go over the financial results forecast and initiatives for fiscal year 2021. Regarding the consolidated results for fiscal year 2021, we expect a sales recovery for lead-acid batteries for new automobiles, an increase in sales of lithium-ion batteries for hybrid vehicles, and a sales contribution from the infrastructure business, which we acquired from Sanken Electric Company Limited to allow us to deliver net sales of JPY 430 billion, a new record performance. On the other hand, in terms of profits, in addition to continued uncertainty surrounding the economic climate resulting from an increase in the number of COVID-19 cases, investment in R&D with an eye towards the future, and taking into account price trends for the main raw materials used in our products, we are forecasting JPY 24 billion in operating income. This represents a year-on-year decrease. We forecast JPY 12 billion in profit, a year-on-year increase. Page 20 discusses the factors for year-on-year operating income change. I would like to start with the positive change factors. Sales quantity is expected to increase mainly for Blue Energy, which manufactures lithium-ion batteries for hybrid vehicles and for our overseas subsidiaries. We also forecast operations to improve due to an increase of new automobiles. Additionally, we also forecast an increase in sales derived from the aforementioned infrastructure business, which we acquired from Sanken Electric. In terms of negative impact change factors, we forecast the impact of higher raw material prices and an increase in logistics costs derived from a shortage of container space, et cetera. We also forecast an increase in expenses. In light of these factors, we are forecasting JPY 25 billion in operating income before the amortization of goodwill for fiscal year 2021. The segment results forecast. I shall be discussing the details next. I would like to start with the forecast for the automotive battery segment in Japan. In this segment, we are forecasting a year-on-year decrease in net sales and operating income. Allow me to discuss the environments of business for this segment for the current fiscal year. Production of new automobiles in Japan has been on a gradual recovery trend. Fiscal year 2020 was characterized by a number of uncertain elements, such as the number of production of new automobiles decreasing due to the impact of COVID-19 in the first half of the fiscal year, and the global semiconductor shortage in the second half. In fiscal year 2021, production of new automobiles in Japan is expected to gradually recover. However, we believe a continued semiconductor shortage could have a negative effect. I would now like to discuss the initiatives in the market for new automotive batteries. We expect a sales expansion of EN batteries for new automobiles. We will be pursuing an optimal composition of products resulting from the sales expansion of EN batteries for new automobiles. Next, I would like to discuss initiatives in the market for replacement batteries. We expect the sales expansion of high-value-added products. We will aim to expand sales of batteries for start-and-stop vehicles. Additionally, the percentage of new automobiles using EN batteries is on the rise, so we would like to steadily capture demand for replacement EN batteries. I would now like to discuss the forecast for the overseas automotive battery segment. In this segment, we are forecasting an increase in net sales accompanied by a decrease in operating income. Allow me to discuss the environments of business for this segment. Despite a global trend towards electrification, we expect demand for lead in emerging countries to remain steady. Although we are seeing progress in the trend towards electrification with the regulation of petrol cars, mainly in the EU, we expect demand for lead-acid batteries to remain steady, mainly from emerging countries in ASEAN. Additionally, we expect production of new automobiles to continue on a recovery trend following a slight drop resulting from the impact of COVID-19. I would now like to discuss our strategy by area, starting with our base in Turkey, from which we sell to Europe. We will establish a manufacturing and supplying framework in Turkey to enhance sales to Europe. We would like to expand production capacity to 6 million units per year by fiscal year 2023. On the other hand, in India, which is currently grappling with a drastic surge in COVID-19 cases, we would like to enhance production capacity and obtain market share, which is still currently somewhat limited in the country. By fiscal year 2023, we will aim to increase production capacity to 8.4 million units in terms of batteries for motorcycles. Next, I would like to discuss our strategy in China. We will continue capital investment for the new Tianjin plant. Additionally, we will also be enhancing sales of replacement batteries by expanding sales channels. We would like to expand production capacity to 6 million units per year by fiscal year 2023. Lastly, I would like to discuss our strategy for the ASEAN region, which accounts for the greatest share of sales. We will be establishing an optimal manufacturing and supplying framework in Asia, mainly in Thailand and Indonesia. We would like to expand production capacity of batteries for automobiles to 14.4 million units per year by fiscal year 2023. I would now like to discuss the forecast for the industrial battery and power supply segment. In this segment, we are forecasting an increase in net sales and operating income. We will be capturing an increase in sales resulting from the acquisition of the infrastructure business from Sanken Electric. Additionally, while we have not yet been able to ascertain concrete numerical figures, we have identified a synergy resulting from this acquisition, in that battery-related products sold together with power supplies are now GS Yuasa products instead of Sanken Electric. Allow me to discuss the environments of business for the industrial battery and power supply segment. There is now a high expectation towards carbon neutrality. The market for renewable energy has expanded due to the announcement of the Japanese government's green growth strategy in fiscal year 2020. Additionally, in fiscal year 2020, construction works were delayed or suspended due to COVID-19. We expect a gradual recovery in fiscal year 2021. I would now like to discuss our strategies for each domain, starting with backup in the domain of emergency use. We will be capturing demand from the Japanese government's efforts to build up national resilience and contribute to providing safe power supplies for nuclear power generation. Next are the strategies for the domain of non-emergency use, batteries which require charge and discharge. We would like to acquire more orders for renewable energies, demand for which is on the rise. Next, I would like to discuss our strategies for the overseas business. Demand is on the rise for industrial lithium-ion batteries for UPS in Europe, America, and Australia. As such, we will work to acquire new orders in each region. Lastly, I would like to discuss our strategies after the aforementioned acquisition of the infrastructure business from Sanken Electric. We want to generate synergy effects through business cooperation as early as possible and optimize manufacture and sales points. Through this, we would like to achieve a profit contribution as early as possible. I would now like to discuss the forecast for the automotive lithium-ion battery segment. In this segment, we are forecasting an increase in net sales and operating income. Allow me to discuss the environments of business for the automotive lithium-ion battery segment. We expect demand for hybrid electric vehicles to continue, mainly for car manufacturers in Japan. We expect demand for hybrid electric vehicles to remain strong in FY 2021 due to strategies by car manufacturers in Japan in light of the planned shift of all sales of new vehicles to electric vehicles by the mid-2030s. I would like to start with our strategies for electric vehicles. We will increase production of lithium-ion batteries for hybrid electric vehicles. First, we will enhance production capacity at the Blue Energy No. 1 p lant, which is located in Fukuchiyama City, Kyoto. We will therefore be adding and launching a new production line at the No. 1 plant. Furthermore, construction of the No. 2 plant is proceeding according to plan, with the start of operations planned for fiscal year 2022. More specifically, the start of production is scheduled for April 2022. Additionally, we will also increase production of lithium-ion batteries for plug-in hybrid electric vehicles. We would therefore like to aim for the stable supply of lithium-ion batteries for plug-in hybrid vehicles for existing customers. Next, I would like to discuss our strategies for low-voltage 12-V lithium-ion batteries. Stable operation and supply at the GS Yuasa Hungary plant started in October of last year. We would like to offer a steady supply of 12-V lithium-ion batteries to luxury car manufacturers against the backdrop of more strict regulations in Europe regarding the use of lead. Additionally, we will also be opening up new markets. We are currently suggesting to automakers the use of our 12-V lithium-ion batteries for use in system startup and as a backup against the backdrop of a continued trend towards vehicle electrification. Furthermore, we would like to expand sales to new customers in Europe and to car manufacturers in Japan. Lastly, I would like to discuss the strategies for industrial lithium-ion batteries. We will expand sales of industrial batteries. We are currently supplying lithium-ion batteries in a stable manner to a large-scale wind power generation project in Hokkaido. Through production, we would like to achieve further productivity enhancements. Additionally, we would like to expand manufacturing systems for enhancing demand for non-emergency use. Furthermore, we are currently in the process of developing new price-competitive batteries. These offer longer battery life, about 70% longer than existing batteries, and higher capacity, about 15% more than existing batteries. We are currently in the process of developing industrial lithium-ion batteries for ESS with these characteristics. I would now like to discuss the forecast for the specialized batteries and others segment. Allow me to discuss the initiatives for fiscal year 2021. First, we will be carrying out the stable supply of lithium-ion batteries for submarines. We will be expanding sales of lithium-ion batteries for satellites. We are currently carrying out efforts to establish a manufacturing system to expand production. Here, I would like to discuss a number of topics associated with our R&D efforts. Last year, our lithium-ion battery for hybrid electric vehicles won Toyota Motor's Technology and Development Award for the first time. Allow me to give you an overview of the award. This is a technology and development award presented to Toyota Motor suppliers that help advance manufacturing through the use of innovative technologies. GS Yuasa and Blue Energy shared this award. The winning product was our EHW-4S lithium-ion cell for hybrid vehicles, which is more than 10% lighter and more than 20% smaller than similar products. This cell is used in Toyota Motor's Harrier model. Additionally, we also won the 2021 MEXT Minister's Science and Technology Award. Allow me to give you an overview of the award. This is an award for science and technology in the category of development presented in recognition of the development of lithium-ion batteries for use in space and technologies to facilitate the operation of those batteries. Regarding an overview of the award-winning technologies, these involve the development of an airtight battery structure and the construction of a degradation model. I would now like to discuss the forecast regarding capital investment, depreciation, and R&D costs for fiscal year 2021. Allow me to discuss the main capital investment items. As in fiscal year 2020, we expect very significant investment related to Blue Energy, which manufactures lithium-ion batteries for hybrid vehicles. Allow me to briefly discuss the topic of financial security. As I mentioned earlier, capital investment for the establishment of Blue Energy's No. 2 plant and the funding allowance for the acquisition of the infrastructure business from Sanken Electric are essential. Despite a temporary worsening of financial indicators due to an increase in debt resulting from advanced investment, we would like to continue maintaining financial security going forward. Lastly, we have announced GS Yuasa's environmental long-term goals for 2030. Allow me to discuss the details. Our goal is to reduce CO2 emissions in fiscal year 2030 by 30% or more compared to fiscal year 2018. The term is the 12-year period between fiscal year 2019 and fiscal year 2030. In terms of the reduction rate, we are aiming for a 2% annual reduction through to fiscal year 2022, for a total of 6%. Following that, we will aim for an annual reduction of 3% or more from fiscal year 2023 to 2030, for a total reduction of 24% or more. I would now like to discuss concrete efforts to achieve these goals. These are the three subjects of strategies to reduce CO2 emissions, energy saving, supply to renewable energy, and self-consumption of solar power energy. We would like to use this opportunity to install our own lithium-ion battery products and proactively carry out experiment demonstrations at the GS Yuasa Group level. This concludes today's financial results briefing. Thank you for listening. Mr. Nishizu with Nomura Securities will now pose the first question. My name is Nishizu, and I'm with Nomura Securities. I have three questions. My first question pertains to the topic of costs. Page five shows a negative impact to operating income of JPY 1 billion under expenses, et cetera, between fiscal year 2019 and fiscal year 2020. Page 20 shows a further negative impact on the operating income forecast of JPY 8.6 billion. The company also carried out thorough cost reductions during the fiscal year ended March 2021, so this does not seem like a rebound to me. I would like to know how you view the factors of an increase in logistics costs and an increase in R&D expenses. My second question pertains to the impact of vehicle electrification. Currently, I believe the company manufactures lead-acid starter batteries. Should battery electric vehicles become the norm, does the company have plans to continue using lead, or is there a possibility you will change to lithium batteries? Additionally, is there a possibility there will be changes to the replacement purchase cycle? Lastly, my third question pertains to the topic of automotive lithium-ion batteries. Despite an increase in net sales, the overall recovery for the segment appears to be somewhat weak. I believe LEJ and Blue Energy are the determinant factors here. Is an increase in R&D expenses a factor in this slow recovery or the start of depreciation at GS Yuasa Hungary resulting in a widening of losses? I would like to hear your thoughts on this. Thank you for your questions. This is CFO Nakagawa speaking. To answer your question, this is due to a variety of factors. In recent months, while travel and transportation expenses have decreased against the backdrop of the COVID-19 crisis, we have registered an increase in personnel expenses and logistics costs, among other expenses. In recent months, therefore, we have seen an increase in expenses centered around indirect expenses. Naturally, these are currently estimates for fiscal year 2021, so we would like to continue carrying out efforts to reduce or prevent the further worsening of these expenses. This concludes my answer. I would now like to answer your second question pertaining to the trend and our view on starter batteries against the backdrop of a move towards vehicle electrification. As you mentioned in your question, low-voltage batteries like our 12-V batteries are required for system startup, whether for hybrid vehicles, plug-in hybrid vehicles, or electric vehicles. We call these auxiliary batteries. Both lead-acid batteries and lithium-ion batteries can be used for this. GS Yuasa already has a lineup of lead-acid starter and auxiliary batteries, so we are now in the process of developing lithium-ion batteries to this effect and building up a lineup of such batteries. We want to do our utmost to continue offering solutions in the domain of starter batteries and of auxiliary batteries for use in system startup against the backdrop of a trend towards vehicle electrification. In Europe, in some regards, we have not yet made much progress in supplying these batteries for OEMs. Doing so does not cannibalize demand. We would like to take a proactive approach in promoting our 12-V low-voltage batteries in Europe. Lastly, your third question pertained to LEJ and BEC and the topic of profit following an increase in sales quantity. As you mentioned in your question, we are forecasting a significant increase in R&D expenses in this segment. In terms of return on investment, lithium-ion batteries require much more investment compared to lead-acid batteries. We have our own original facilities for the design and production of lead-acid batteries. However, for lithium-ion batteries, we have to outsource production facilities in some cases. This makes for far more challenging profit margins compared to lead-acid batteries. This forms the basis for our forecast. This concludes my answer. Thank you for your answer. Could you please clarify one point? On the topic of 12-V starter and auxiliary batteries, would it be correct to say that you expect the replacement purchase cycle in the aftermarket to remain more or less the same even after electric vehicles become the norm? That is not the case. Against the backdrop of vehicle electrification and the adoption of 12-V lithium-ion batteries, these have a significantly longer life, so we believe this will lead to a slight decrease in aftermarket activity. However, we have received multiple offers for use of our low-voltage 12-V lithium-ion batteries for use other than system startup, namely as backup batteries for self-driving. Taking into account this use case, against the backdrop of a trend towards vehicle electrification, we expect a slight increase in the use of 12-V lithium-ion batteries for purposes other than system startup, namely as backup batteries for self-driving vehicles. Thank you for your informative answer. Thank you. Mr. Sugimoto with Mitsubishi UFJ Morgan Stanley Securities will be posing the next question. My name is Sugimoto, and I'm with Mitsubishi UFJ Morgan Stanley Securities. Thank you for your presentation today. I have three brief questions. First, during the financial results briefing before last, you mentioned how the company intends to dedicate its efforts to the area of industrial lithium-ion batteries. Would it be possible for you to give us an update on this front? This concludes my first question. My second question pertains to feedback from clients regarding the production of batteries for use in electric vehicles and requests from the government toward this end, given the current trend towards efforts to achieve carbon neutrality. Of course, GS Yuasa has previously announced its strategy to focus on batteries for hybrid vehicles. I believe the company's stance remains the same, but I would like to hear your further thoughts on the automotive battery business, especially as it pertains to batteries for electric vehicles. This concludes my second question. Lastly, Toyota Motor has announced it will once again dedicate its efforts to nickel metal hydride batteries, namely to bipolar nickel metal hydride batteries. I would like to hear your thoughts and comments on this topic. Does this move come as expected or as a bit of a surprise? This concludes my question. Thank you for your question. I would like to answer your first question on the topic of industrial lithium-ion ESS batteries. This is an area we want to dedicate our efforts to, as we mentioned in the financial results briefing before last, and indeed, perhaps even during the last financial results briefing. You ask if there are any updates on this front. Indeed, demand for industrial batteries for non-emergency use is on the rise. Unlike backup industrial batteries for emergency use, these require charging and discharging. This demand comes primarily from the energy storage system at the 720-MWh wind power project in Hokkaido, to which we started supplying batteries starting last year. In broad strokes, we divide things into three categories. The first category involves grid connection, minimizing output fluctuations primarily through the use of renewable energies. This corresponds to the aforementioned project in Hokkaido. Another area is the use of peak shift and peak cut solutions on a per-facility basis to achieve the environmental long-term goals I mentioned earlier by saving energy and improving efficiency in terms of electric power flow. Lastly, we consider the category of self-consumption by households following the end of the FIT system. We divide things into these three categories, and we are currently focusing our efforts on the first category involving grid connection and minimizing output fluctuations through the use of renewable energies, and on the second category of improving efficiency in terms of electric power flow on a per-facility basis. Although I cannot discuss the specifics here, we have received a number of business inquiries, which we are currently in the process of considering. We have already concluded negotiations for a number of smaller-scale projects, but we are currently focusing on large-scale projects and projects at the facility level. As I mentioned earlier, we are developing a new price-competitive battery. Next, I would like to answer your question about batteries for electric vehicles. The final fiscal year of the fifth Mid-Term Management Plan was changed to fiscal year 2022, with fiscal year 2020 as a single-year bridge plan excluded from the MTMP. As previously stated, within the scope of the fifth MTMP, we would like to focus on hybrid vehicles. However, as you said in your question, we have indeed received feedback from many parties requesting we offer batteries for use in electric vehicles. With that being said, taking into account the resources at our disposal, we would like to carry out investment in this area following concrete talks for the supply of such batteries to OEMs. In terms of the platform itself, we already have it in the form of LEJ, so we would like to carry out R&D in an adequate manner. Lastly, I would like to answer your question pertaining to our view on Toyota Motor's nickel metal hydride batteries. We too had dedicated a certain amount of manpower to the development of this type of batteries in the past. However, we are currently concentrating our resources on lithium-ion batteries. As such, we currently don't have any plans to start development in new areas like in the area of nickel metal hydride batteries. Thank you for your answer. Next, Mr. Naruse with Okasan Securities will be posing the next question. My name is Naruse, and I'm with Okasan Securities. I also have three questions for you. My first question has to do with the company's financial results forecast for the lead-acid battery business in Japan, as shown on page 22. The operating income forecast for fiscal year 2021 stands at JPY 6.5 billion, down significantly on a year-on-year basis, although admittedly cold weather and factors pertaining to personal mobility contributed to a strong performance last fiscal year. Earlier, you mentioned plans to carry out investments in the automotive battery segment in Japan. Against this backdrop, net sales of JPY 83 billion and operating income of JPY 6.5 billion seems somewhat low. As such, I would like you to discuss the rationale behind this net sales and operating income forecast. This is my first question. My second question pertains to the automotive lithium-ion battery segment on a global basis. You discussed the company's long-term CO2 emission reduction goals for 2030. I believe a significant trend towards vehicle electrification going forward is the need to reduce CO2 emissions at the time of production within the context of LCA. You mentioned how the company plans to use renewable energy to further accelerate the reduction of CO2 emissions. Would it be possible for you to discuss in more detail other strategies, specifically to reduce CO2 emissions at the time of production? This is my second question. My third question perhaps overlaps with an earlier question. Honda Motor and Toyota Motor have announced concrete targets regarding electric vehicles, as well as regarding hybrid vehicles in the Japanese market. These targets call for 80%-85% of all vehicles sold in Japan to be hybrid vehicles. The emphasis in other markets is towards electric vehicles. I would therefore like to hear the company's impression of these plans, namely whether GS Yuasa considers these a tailwind, given how it is currently concentrating its resources on batteries for hybrid vehicles. I would also like to hear the company's perspective on a global scale. Additionally, I would also like you to discuss the possibility of the use of LEJ batteries for small subcompact electric vehicles. In broad terms, I would like to hear the company's view on this announcement by Honda Motor and Toyota Motor. This concludes my questions. Thank you for your questions. I would like to yield the microphone to CFO Nakagawa, who will be answering your question regarding the trend in the lead-acid battery business in Japan. I will be answering your second and third question. Go ahead, Mr. Nakagawa. Allow me to answer your first question, which deals with the background of the profit and loss situation in the automotive lead-acid battery segment in Japan. Before doing so, allow me to give you a brief review of the financial results for the business segment in question pertaining to fiscal year 2020. We believe we recorded an over-performance in the business segment in question for fiscal year 2020. As you are aware, the business of selling to OEMs batteries for new automobiles is not very profitable. Our business structure is therefore to generate profits through the business of selling replacement batteries. Last fiscal year, as you are aware, production volume of automobiles decreased significantly, particularly in the first quarter. On the other hand, consumers were reluctant to purchase automobiles, and this translated into significant growth in the market for replacement batteries. Additionally, cold weather starting in early fall and through to the end of the year led to further growth in the market for replacement batteries. We were therefore blessed with an unusually favorable business climate during this period. In light of this, we expect an increase in sales volume of batteries for new automobiles this fiscal year. Additionally, as you are aware, our EN batteries have been very well-received by new automobile manufacturers. As such, and as we mentioned earlier on the topic of capital investment, there is a possibility we will see a further sales volume increase to OEMs of batteries for new automobiles. On the other hand, we expect a year-on-year decrease in sales volume of replacement batteries following a strong performance last fiscal year. This mix represents a significant factor. Another factor is a change in the price of lead, the main raw material used in our products. As you might be aware, last year, the price of lead in the Japanese market was approximately 5% lower than in the previous year. This had a positive impact on profitability. Conversely, we are forecasting slightly higher prices for the current fiscal year. We therefore believe that these factors require us to take a more conservative approach when it comes to profits and form the basis of the financial results forecast. This concludes my answer. Allow me to answer your second question pertaining to the reduction of CO2 emissions associated with the process of manufacturing our batteries. We have formulated environmental long-term goals. We believe the procurement of renewable energy to be indispensable when conducting our business operations. This is point number one. Regarding the manufacturing of lithium-ion batteries, we currently procure a number of resources and carry out efforts at our R&D division to assure the optimal selection of chemicals for each use case. We are carrying out various initiatives in terms of battery structure and manufacturing process, allowing us to reduce CO2 emissions at the time of manufacturing by as much as possible. This is by no means an easy feat. We believe this to be indispensable going forward. Allow me to answer your third question. Many different countries and companies have announced their commitment to certain targets pertaining to electric vehicles. Your question is how we view these announcements. To be frank with you, the truth is that we have carried out efforts on all fronts pertaining to electric vehicles, plug-in hybrid vehicles, and hybrid vehicles. However, as we have mentioned on previous occasions, taking into account the company's resources, within the fifth MTMP, we have decided to focus on hybrid vehicles. With that being said, we have received many requests regarding batteries for use in electric vehicles in terms of improvements, cost reductions, and capacity increases. In light of this, we would therefore like to continue carrying out R&D and continue improving our products. A number of timetables have been put forth regarding the timing of the shift towards electric vehicles. We are not sure which schedule is correct. However, assuming a trend ultimately leading to full electric vehicle adoption, we believe standing idly by is not an option for us. As such, we would like to continue carrying out robust R&D efforts in this area going forward. This concludes my answer. Thank you for your answer. Mr. Sakae with Daiwa Securities will be posing the next question. Thank you. My name is Sakae, and I'm with Daiwa Securities. I have two questions, the first of which dealing with the contents of page 28. The forecast is for a net sales increase of JPY 15 billion between fiscal year 2020 and fiscal year 2021. If possible, could you give us a breakdown of this net sales increase between Lithium Energy Japan and Blue Energy? My second question pertains to the fiscal year 2021 forecast for the industrial battery and power supply segment. Could you give us a breakdown of this forecast in the manner shown on page 12 of the presentation materials, namely by model and demand source? If possible, could you discuss the net sales and operating income contribution by the infrastructure business acquired from Sanken Electric? Additionally, could you give us the forecast for the industrial battery and power supply segment, excluding the large-scale wind power project in Hokkaido? This concludes my question. I would now like to yield the microphone to CFO Nakagawa, who will be answering your first question. We forecast a significant year-on-year increase in net sales of JPY 15 billion between fiscal year 2020 and fiscal year 2021. I believe you requested a contribution breakdown of this net sales increase between Lithium Energy Japan and Blue Energy. We would like to request your understanding in that we do not disclose specific net sales and operating income data for these two companies. With that being said, at Blue Energy, we expect a significant sales volume increase of batteries for Toyota Motor's new models and a similar sales volume increase for Honda Motor, and our forecast reflects this. On the other hand, a significant change factor at Lithium Energy Japan is a change in the supply of batteries to Mitsubishi Motors' plug-in hybrid vehicles. Our forecast assumes a slight year-on-year sales increase following a significant drop last year. I am aware my answer might be somewhat vague, but I hope it is enough for you to extrapolate to the information you seek. This concludes my answer. Nakagawa speaking once again. Allow me to answer your second question. We do not disclose specific net sales and operating income contribution figures associated with the infrastructure business acquired from Sanken Electric. When the transfer of this business was announced, we mentioned a sales quantity figure around JPY 22 billion-JPY 23 billion annually. We expect this amount in terms of sales, and we currently do not expect significant profits. Such is the premise of our forecast for the current fiscal year. The figures I mentioned just now are on an annual basis, but since the infrastructure business became a part of the GS Yuasa Group on May 1st, the forecast actually covers 11 months of sales and profit instead of 12. Within the topics shown on page 12, Sanken Electric's business does not fall under the category of forklifts or overseas, but rather within industrial batteries and power supplies. As such, from this figure, the calculus involves subtracting the Eurus Energy project in Hokkaido and adding sales for the Sanken Electric business. We also expect a sales increase in GS Yuasa's traditional industrial battery and power supply segment. We do not disclose specific figures, but I believe this will translate into a lengthening of the vertical bar shown on the graph. I hope you find this answer satisfactory. Thank you for your answer. If possible, could you tell us what kind of change you are expecting in terms of net sales by demand source? Allow me to answer your question. As I mentioned earlier, the Eurus Energy project in Hokkaido falls under private sector demand. We believe the Sanken Electric business falls under multiple demand sources, namely private sector demand, telecommunication, and public agencies. Thank you for your answer. It appears that we only have time for one more person. Lastly, I would like to yield the microphone to Mr. Aiba with Nomura Asset Management. Thank you. My name is Aiba. I am with Nomura Asset Management. I have two questions, the first of which pertaining to 12-V lithium-ion batteries. Approximately six months have passed since the company started selling these batteries. I would like to know what kind of business inquiries the company has received for its 12-V lithium-ion starter, auxiliary, and backup batteries, although I believe inquiries for the latter two to be still limited. Your question pertains to the current trend for our 12-V lithium-ion batteries. Regarding the scale of annual sales, we are just starting out. To be frank with you, we have received business inquiries for our 12-V lithium-ion starter batteries and for 12-V lithium-ion auxiliary batteries, that is, batteries for use in system startup. We have not yet received any business inquiries pertaining to the use case of 12-V backup lithium-ion batteries for self-driving vehicles. We are in talks with OEMs and consequently cannot currently reveal any further details. We ask you for your understanding. With that being said, this business is off to a good start. Would it therefore be reasonable to say that 12-V lithium-ion starter batteries, as an alternative to lead-acid batteries, make up a large number of these initial business inquiries? Actually, looking at the business inquiries we have been receiving, while there are inquiries pertaining to starter batteries, we are also seeing requests for 12-V batteries for use in system startup against the backdrop of a trend towards vehicle electrification. We are seeing both. It's not just 12-V lithium-ion starter batteries. I see. That is most interesting. My second and final question is as follows. The net sales target outlined in the fifth Mid-Term Management Plan is JPY 460 billion or greater, and JPY 28 billion or greater in terms of operating income before the amortization of goodwill. I would like to hear your current thoughts on this topic in light of the fact that the plan was formulated prior to the acquisition of the infrastructure business from Sanken Electric, and therefore does not take this contribution into account. Naturally, I believe there is a need for the company to meet these targets, but I would like to know if the addition of the infrastructure business maybe presents the possibility of an upward revision. Allow me to answer your question. The infrastructure business we acquired from Sanken Electric will indeed make a contribution during the current fiscal year over the 11-month period following its incorporation into the GS Yuasa Group. Some companies within the GS Yuasa Group are accounted for using the equity method. We have considered our approach to these within the scope of the fifth MTMP. Fiscal year 2022 is the final year of the fifth MTMP, with a net sales forecast of JPY 460 billion or greater and JPY 28 billion or greater in operating income before the amortization of goodwill. These targets remain unchanged, as we would like to carry out our best efforts towards their achievement. I hope you find this answer satisfactory. Would it therefore be correct to say the company does not see the need to revise these targets? As it stands, that is correct. I see. Thank you for your answer. Thank you. This concludes today's Q&A session and financial results briefing. Thank you for taking the time off your busy schedules to participate in today's briefing. Thank you.