Hello everyone, this is Yuki Kusumi. Thank you very much for attending Panasonic Group IR today. Despite your busy schedule, today I'd like to explain the solutions area which we announced last February as a focus area. Before that, I'd like to say a few words about the housing solutions business which we announced recently on November 17. Amid a decline in new housing starts in Japan, we believe this will benefit not only PHS but also YKK AP as it would allow us to accelerate our non-residential and overseas expansion and become a one-stop comprehensive building materials manufacturer with a wider range of products for our customers. We proposed this to YKK and YKK AP in November of last year. There's still much work to be done before the closing, but we can now share the details with you all. As we mentioned in our earnings briefing, we are also taking on sequential actions involving discussions with other partners. As with this case, we will make announcements when signing agreements are made. Today, I hope to explain that the solutions area we have businesses with solid strengths and the potential to increase our earnings power. I presented a similar chart in February, and I believe the essence of business in this area is to continuously contribute to the profits of our customers' businesses and continue to receive compensation for that. Therefore, our competitiveness is contributing to the profits of our customers' businesses and our competitiveness in the operational efficiency that enables this, and this is directly linked to our earnings power. We have many strong businesses that can compete globally, including businesses in which we had top market shares. Many of our businesses are still based on the sale of hardware, and there is significant room for improvement in terms of continuously contributing to our customers' profits. I believe that as you listen to our briefings today, you will understand that we are on the verge of achieving this. The first of these three businesses is energy storage systems for data centers. By ensuring safety and evolving technology to absorb the increasingly volatile power consumption of AI servers due to GPU advancements, we guarantee maximum power consumption below peak power per rack, reducing the contracted power consumption of the entire data center, contributing to the improvement of profitability. This is a mission-critical area, and by adding functions to solve new power challenges arising from AI advances, we are ensuring continuous stable operation. The second is the electrical construction materials business, aimed to layer on solutions that enhance the value created while the building is in use. That is the lifetime value. Currently, as we are leveraging connectivity, including centralized control rooms within buildings, we will develop solutions that optimize energy consumption while improving the well-being of users. The third is SCM software that autonomously solves customer issues in the ever-changing supply chain. We will explain Blue Yonder's current and dramatically enhanced cognitive solutions, including examples of collaborations with other businesses within the group. This is today's agenda, and the speakers have already been introduced by the moderator. I hope this will help you deepen your understanding of the strengths and growth potential of each of our solutions businesses, so as to feel excited about the group's growth. I look forward to hearing your frank feedback during the Q&A session. Your valuable feedback shall be incorporated in our management to enhance the corporate value of the entire group. This is Tadanobu. Now, regarding the strategy for our data center energy storage system, I would like to start my presentation first regarding the market environment surrounding data centers. As you are aware, the AI server market is expected to expand rapidly due to demand for generative AI, projected to grow from $52 billion in 2023 to $224 billion in 2028, with an annual growth rate of 34%. It's also anticipated to see significant demand growth. Meanwhile, market and customer needs are becoming more sophisticated, driven by the large-scale computations required for AI. Demands for power solutions are becoming increasingly sophisticated as GPUs evolve. Server racks are becoming higher powered, and power supply requirements now include beyond a backup to include peak power suppression and smoothing of sudden voltage fluctuations. Peak power suppression helps data center operators reduce contracted electricity costs, and voltage fluctuation smoothing contributes to stable server operation by preventing momentary power shortages caused by increased GPU power consumption. The power supply system must therefore provide advanced management capabilities, including high output and fluctuation absorption. However, we believe a distributed system located near servers within the rack is considered advantageous. Demand for power solutions is rising. We maximize our contribution through the evolution of unique strengths and providing solution proposals and ability to supply. We aim at becoming a power solution provider for the data center with a safe battery center centered in the power system. As our value proposition, we proactively propose solutions for increasingly complex customer challenges and flexibly supply capabilities to meet surges and fluctuations in demand. We will continue to uphold industry initiatives and maintain our industry leadership. We believe our company possesses three key strengths that significantly contribute to realizing these value propositions. The first is our strong customer base with industry leaders and delivery experience. We have built strong relationships of trust with hyperscaler customers. We worked alongside customers to develop solutions even before distributed power sources became widespread, and our pioneering solutions have earned high recognition. We believe we hold approximately 80% market share in this field as of this year. The second is our design proposal capability to solve customer challenges by anticipating increasingly complex customer power supply issues and continuously propose systems that translate required functions into specifications ahead of competitors and continuously propose systems that lead the industry. Furthermore, our deep understanding of the systems allows us to independently determine specifications for cells, power units, and other components and integrate them optimally. The third is the ability to materialize proposed products. We achieve performance, safety, and reliability through sophisticated manufacturing capabilities. In particular, to meet the highest safety standards required for server rooms, we combine the quality and safety of individual cells backed by our long history in the battery business with patented safety mechanisms at the module level. Our integrated development and production system, covering everything from cells to modules, enables us to supply products at the timing and volume requested by our customers. Next, we will explain our midterm outlook and enhancement measures to achieve our vision. First, we aim to achieve sales of approximately JPY 800 billion by FY29. To achieve this, we will not only respond to the rapidly growing demand for existing products, but we will also introduce next-generation products to the market, such as CBUs using capacitors and BBUs for dedicated power supply racks, which are our next-generation products to drive growth. Furthermore, including next-generation products, over 80% of sales through FY March 29 are secured through awards, and we already possess the foundation to achieve the JPY 800 billion scale. To solidify this foundation, we will advance two key enhancement measures. The first is supply system enhancement. We will rapidly expand production capacity in Japan and North America as global supply hubs and build a system capable of flexibly responding to rapidly increasing demand. The second is strengthening proposal and development capabilities for the next generation, leveraging both internal and external resources and technologies across systems and devices to provide more advanced solutions in a timely manner. Through these measures, we will flexibly respond to increasingly sophisticated customer needs and market changes and enhance our competitiveness. Starting next page, we will explain details. First, regarding measures to strengthen our supply system, we will utilize and expand our existing bases in Japan and North America. We will make efficient investment and acquire scalable supply capabilities that meet customer demands. Regarding our approach to production bases, to efficiently increase capacity in response to certain demand, we will make effective use of existing sites, including automotive. We will also establish supply chains and BCPs in the U.S., the region with the highest customer demand, and to shorten supply lead times. We will expand our production base in North America. As a specific implementation plan, we will address the immediate surging demand within Japan while advancing our North American expansion in the medium to long term. First, in Japan, we will triple our cell production capacity by fiscal year FY 2029 compared to FY 20 26. In addition to expanding lines at existing sites, we are also modifying lines for automotive applications with production scheduled to begin in the first quarter of FY 2027. In North America, to prepare for future demand growth and supply chain development, we are looking into partial utilization of our automotive sites in Kansas. For modules, we plan to expand existing lines at our Mexico plant and establishing a new second area to further increase production capacity. By efficiently establishing the global supply system, we will respond flexibly and promptly to rapidly increasing demand. Next, I will explain our efforts to strengthen proposal and development capabilities for the next generation. To achieve further value enhancement at an early stage, we are strengthening our foundation and the thorough utilization of external resources and technologies. First, as an evolution of our value proposition, we anticipate increasingly complex power supply demands and provide the systems our customers desire. Specifically, we will evolve our systems from BBUs to shelf and rack configuration and simultaneously evolve the devices. For example, to absorb power load fluctuations, we are developing a device called a Supercapacitor and plan to offer it as a CBU system compatible with current shelves. For improving power efficiency within data centers, we envision a new form factor, a dedicated power rack supporting high voltage, and plan to offer systems incorporating corresponding ultra-high power devices. To strengthen these proposals and development capabilities, we are implementing a significant shift in human resources and increasing the number of power supply and system engineers through collaboration with the Panasonic Group. Regarding technology acquisition, we are working to create new value through collaboration with industry. The CBU mentioned earlier combines our proprietary capacitor integrated unit with industry, which possesses capacitor technology, and mass production is scheduled to begin in FY 2027. We are also strengthening collaboration with external partners such as power supply manufacturers. Through these initiatives, we are proactively addressing the advanced power requirements demanded by data centers and enhance our solution capabilities. Finally, we will explain our management targets. For FY 2029, we aim to achieve sales of JPY 800 billion and ROIC of 20% or higher. Customer demand is exceptionally strong, and we expect sales for the current fiscal year to reach the upper JPY 200 billion range. In FY 2029, we will achieve high growth, expanding to approximately three times in scale. Regarding ROIC, we will achieve 20% or higher by establishing a supply system through highly efficient investments while maintaining and improving our current high profitability. This concludes our explanation of the data center energy storage system. Thank you. Thank you for Electric Works Company. Thank you very much for your continued support to our company. Thank you very much indeed. Today, I will discuss our company's strategy titled Growth and Reform of the Electrical Construction Materials Business. I will focus on these four points you see on the slide. First, the business overview. Electric Works Company has four factories in Japan, 76 sales offices, and 34 affiliates. Overseas, we operate in 101 countries and regions through 16 affiliates. Last fiscal year, we recorded sales of JPY 1.715 trillion and adjusted operating profit of JPY 76.7 billion. In particular, our overseas electrical construction materials business accounted for 24% of the total sales of JPY 261.9 billion, and our Indian business reached JPY 100 billion, positioned as an important pillar for our future growth. Our business areas are concentrated in lighting and electrical construction materials. We hold top market share in both areas in Japan. We also have the second largest market share globally for wiring devices. We also boast leading domestic product lines related to systems and energy. Our strength lies in building an ecosystem with stakeholders and delivering a wide variety of products on time with the quality our customers expect. By strengthening our competitiveness, domestic sales have grown steadily at an average annual rate of 4.9% over the three years from FY 2023- FY 2025. India, the driving force behind our growth, grew at an average annual rate of 10.6% over the same three-year period, exceeding the real GDP growth. We believe our strategy is bearing fruit. Next, our perspective on the business environment. While the number of new construction stores in Japan is declining, we expect a slight increase of 0.7% CAGR, driven by the 30% expansion of high-value markets related to energy management and well-being. In today's human capital management, improving employee engagement and reducing turnover have become important corporate priorities, and investment in office environments aimed at improving employee comfort and productivity has become prominent. Meanwhile, overseas, particularly in the Indian market, population growth and expanding domestic demand are driving continued GDP growth, forecasting a remarkable growth of JPY 3.6 trillion or INR 2.15 trillion by FY 2031, a CAGR of 9.1%. Based on this environmental recognition, we aim to improve profitability in Japan and grow sales overseas. As shown in the profit pull for domestic electrical construction materials, we will increase the solution sales ratio to 50% and strengthen profitability by changing our business structure. Solution sales refer to package sales based on proposals for clients and designers that address well-being, energy management, and other needs, as well as sales of engineering, maintenance, and service capabilities. For overseas electrical construction materials, we will pursue sales growth, securing market position, particularly in the Indian market. We aim to increase the overseas sales ratio to 35%, with sales in India reaching JPY 200 billion, doubling the current levels. Next, let me give you the specifics of our strategy. First, regarding our Indian business, which is the core of our overseas growth strategy, we aim to increase sales to JPY 200 billion by FY 2031 and establish a strong market position. The growth engines for this are first, strengthening our aftermarket electrical construction business. We will further increase our wiring device market share, expand cross-selling, and develop lighting into our next pillar. We also believe we can further increase our market share by strengthening our sales structure in the southern region, where our competing national manufacturers are strong. To strengthen proposal capabilities, number two, we will broaden the range of products for upstream designers and strengthen our collaboration with our major regional developers who comprise our customer base to capture the market. To accelerate these strategies, we will actively consider mergers and acquisitions and minority investments. Some examples of case studies. Building projects range from apartment complexes to hospitals and offices. Many of our products, including wiring devices, distribution boards, and system components, have been adopted in projects by well-known developers, as shown on the left. Furthermore, as shown on the right, our advanced technologies such as LED floodlights are being utilized in stadium projects, including cricket grounds. We will strengthen our marketing efforts by expanding our presence through these case studies and leverage our robust sales channels. Next, Domestic Solutions Strategy. In the domestic market, we will contribute to improving building LTV, or the lifetime value, in response to increasingly sophisticated market needs. Building LTV refers to the total value a building generates throughout its lifetime. The value we provide is to enhance the value of buildings by continuing to connect with customers and providing optimal solutions such as economic rationality, asset value optimization, and well-being for each stage of the building process. Before the construction completion, we will strengthen package sales with high-value proposals centered on well-being and energy management. After the construction, we will strengthen our engineering and maintenance and service capabilities and promote optimization through data utilization. This is supported by product connectivity. We propose products that connect our products to networks and enable real-time information exchange and control. By visualizing and utilizing equipment status, power consumption, thermal comfort of the office environment, CO2 concentration, and other data, we can achieve labor savings and increased asset value, as shown here. We see a double-digit or higher profitability in other areas, and we can enhance the overall profit in this area by concentrating on this area. Here are some specific examples. In the office sector, as shown on the left, our automated lighting control system contributes to improved energy efficiency and employee comfort. In the proposal to Mitsubishi Real Estates, we do have advanced networking for the common networking and systems. In the sports and entertainment sector, LED floodlights and our live video production platform, KAIROS, were adopted at Toyota Arena Tokyo, which opened in October. This enables us to achieve both powerful visual effects and energy saving and has been recognized for improving the excitement and experience value of each visitor. These examples demonstrate our strength in providing solutions that continue to connect with our customers even after the product delivery. Finally, but not the least, I'd like to talk about the business effects. We will achieve our fiscal year 2025 forecast of adjusted operating profit of JPY 83 billion and an operating profit margin of 7.6% in aim for further growth toward FY 2031. Regarding KPIs, we aim to increase the overseas sales ratio to 35% by FY 2031. We'll double sales in India, our growth engine, to JPY 200 billion. We will increase the domestic solution sales ratio to 50% by FY 2031 and promote a shift toward higher value. We'll achieve sustainable growth in corporate value through both overseas sales growth and strengthened profitability in Japan. That concludes my presentation. Thank you for your attention. Higuchi from Panasonic Connect. I will explain our Blue Yonder business in the supply chain management domain. We are to focus on the solution areas. That means to make a shift from hardware business. We are to shift the portfolio. This means that the revenue will shift from one-off to recurring, and customer churn costs and barriers to exit will be higher. This makes it difficult to get caught up in pure price competition. With this context, supply chain management is increasingly becoming a strategic core element of our customers' business operations. Consequently, in this area of uncertainty, the need to properly manage the entire supply chain is growing. Here, too, software plays a crucial role. Software handles the entire process of understanding, monitoring, and controlling the supply chain status. Software also connects the front and back of the chain. This software plays a vital role in supply chain optimization, which is management agenda. This is further enhanced by the addition of AI and multi-layer networking with suppliers, carriers, and others, increasing the value added. Panasonic Connect focuses on innovating our customers' field processes, and supply chain management always sits at the top level of these field processes. Unfortunately, developing globally scalable standard software organically from Japan is generally very difficult, so we have added them to our portfolio through M&A. This is public data for the supply chain market, supply chain management standard package software market, which is projected to grow at a CAGR of approximately 15%. Furthermore, considering that custom products exist outside this market and that standard products are migrating from on-premises to private clouds and public clouds, there is a large untapped potential market. On the other hand, the market is fragmented. In this space, as a pure SaaS player, achieving scale and securing market presence can realize high business value. Here, we are showing Salesforce for customer management system and Workday for human capital management. We are aiming for a position similar to top players in each category, such as ServiceNow, Microsoft 365, and Snowflake, which have achieved high corporate value. Blue Yonder's positioning and potential. It is already the largest pure-play supply chain management software provider in terms of revenue and customer count. Furthermore, it is the only company that can provide true end-to-end solutions, offering demand planning, supply planning, warehouse management, transportation management, and return management, plus supply chain network functionality that connects suppliers, customers, and carriers. The dots in the table indicate later class capabilities. Blue Yonder serves approximately 3,000 customers across retail, manufacturing, consumer goods, and logistics sectors, with deep penetration into top-tier companies, as shown on the right. Therefore, the company is uniquely positioned to provide a globally optimized solution. Even if competitors possess supply chain network capabilities, they cannot immediately achieve true end-to-end integration. While Manhattan is primarily a point solution focused on warehouse management, Blue Yonder's solution is end-to-end, offers a broad product range, and has a solid customer base. However, the biggest issue, frankly, was that due to repeated acquisitions and being under private equity ownership, where long-term investment was suppressed, software investment was not made, and the architecture was outdated. Therefore, we thought that the winning strategy would be hiring an excellent industry-proven team, including Duncan, who succeeded in starting up Infor to evaluate the situation. As the market matures, we would fundamentally rebuild the architecture, acquire missing pieces through M&A, integrate one network, and build a solution that fully and natively incorporates GenAI. The integration of acquired company solutions and the incorporation of AI capabilities due to the emergence of generative AI extended the investment period slightly beyond the initial plans and increased the investment amount from $200 million- $300 million. However, this allows us to aim for a higher level. First, regarding cognitive-enabled solutions. Cognitive refers to AI that understands trends with human-like intuition akin to human cognitive abilities. This means interpreting the meaning of information and data, understanding patterns rather than merely making fixed judgments based on past data or future predictions to detect anomalies. However, generative AI alone is not sufficient. Blue Yonder unleashes its full potential by natively embedding AI with its existing machine learning and individual optimization engines, along with end-to-end supply chain data. Currently, Blue Yonder performs 25 billion predictions daily. By fully leveraging AI in each and every one of these predictions, we achieve greater flexibility, effectiveness, and accuracy. To maximize this cognitive capability, we have invested in building a robust integrated platform that serves as the enabler. This is where we have been investing. This platform delivers an integrated data foundation, microservices, multi-tenancy, cloud-native architecture, event-driven capabilities, and interoperability between solutions. No other SCM vendor is building a platform that fundamentally delivers this level of scalability, end-to-end capability, and cognitive AI. We believe this is difficult to achieve immediately at this point. In summary, with this vision, Blue Yonder aims to become a top SaaS player in the SCM software domain. The necessary requirements to achieve this are as follows. First, we are aiming to become a true end-to-end solution provider, incorporating not just point solutions, but also enhanced SCM network functionalities, return solutions, and CO2 emissions visualization capabilities acquired through the $1.1 billion acquisition of five companies. Second, we are to maximize SaaS capabilities by establishing a highly responsive, interoperable, integrated platform that enables scale expansion with minimum incremental costs. Third, to boost customer value by embedding generative AI into Blue Yonder's existing SC execution resources, machine learning optimization engines, workflows, rather than adding them as add-ons, thereby achieving cognitive AI approaching human cognitive level. This is the vision, and this is truly unique. This slide illustrates the components that make up this vision. The foundational platform and supply chain network have already been developed. The supply chain network is already connected to over 150,000 suppliers. Significant benefits such as inventory reduction and decreased out-of-stock can be achieved. Developments of planning systems, execution systems, order management, return management, UX, and AI agents are also nearly complete, including the remaining development. Full completion is scheduled within fiscal year 2028. In FY 2026, the blue part indicates the respective functions to be realized, but the key emphasis remains to the end-to-end integration of execution and planning systems throughout the platform. We have announced five engines, and we are also looking ahead to implementing conversation and collaboration between autonomous agents, known as agent-to-agent communication, which will be a major strength. It was on the product development investments. Other activities, including hiring a Chief Transformation Officer, fully leveraging AI, optimizing functional staffing, and achieving $150 million in annual fixed cost reductions. Looking ahead, we plan to further optimize personnel in the technology development field through AI utilization. Furthermore, along with the completion of strategic developments, we will reduce development resources, targeting annual cost savings of $65 million-$80 million. Regarding investments, while past focus was on the products themselves and tackling M&As, the emphasis will now shift to go-to-market activities. Since new products inevitably face initial customer hesitation, we will promote programs to facilitate early adoption of new products by customers. We will drive initiatives to accelerate migration from on-premise, private cloud, and traditional SaaS to cognitive solutions. Through these initiatives, we aim to increase adoption of our highly acclaimed cognitive AI products, enhance communication of Blue Yonder's visions and goals, deepen customer understanding, boost top-line revenue and profitability, and simultaneously improve product margins by scaling through our integrated data and cloud platform. Executives who have already experienced and successfully executed this process at SaaS vendors have joined Blue Yonder. They are resonating with its potential and are actively contributing. Here's the lineup of the powerful leadership team. These leadership team members will promote the measures to increase their revenue. This graph shows the forecast. Fundamentally, due to pre-transaction solicitation regulations, it is difficult to present future forecasts. However, within these limitations, we wish to convey the best possible picture we can at this time, which is why we are presenting this graph. Development investment will peak around 2025, with the remaining development scheduled for completion within 2026. Year 2026 will be a period where we will not sell old products, but must launch new ones. This period will involve investing in initiatives to promote customer adoption of the new products. Following this, we will enter the period where we begin to realize the profit-generating effects mentioned earlier. Regarding strategic investments in product development, while this is still conceptual, we plan to reduce them after peaking in 2025 and begin generating profits. Rather than suppressing investment to boost EBITDA and artificially inflate enterprise value without making the right investments to scale as a SaaS vendor, Duncan and his team are rigorously executing the fundamentals of cloud business, making the right investments and building the business. As mentioned, customers resonate with Blue Yonder's vision. Consequently, we are seeing a growing trend where customers entrust Blue Yonder with the end-to-end operations. They aim to achieve a highly accurate, efficient, and autonomous supply chain using cognitive AI, while also networking with suppliers and carriers to pursue total optimization. As a result, deal sizes are increasing, with the number of large deals exceeding $1 million, growing to 2.8x last year. This is Honda's example. Honda U.S. has comprehensively adopted Blue Yonder's solution. This aims to improve sales, production, and supply chain efficiency through enhanced forecasting accuracy, scenario planning, and comprehensive visibility. This addresses challenges such as increasing production complexity across multiple vehicle models and ensuring better alignment with consumer demand. Simultaneously, it drives a shift toward cross-functional automated collaboration. Additionally, one of the world's largest automakers, as well as other clients, including Heineken and Morrisons, have similarly decided to use Blue Yonder comprehensively. Panasonic Group is also implementing this internally. While here, we are introducing four locations. Both planning and execution solutions have begun live operations, and at four additional locations, we are currently considering additional implementation. We are beginning to see the management benefits shown here. Frankly, we are surprised by the significant impact, especially at the first two sites. Synergy with Connect is also being promoted. On the left, the yard management solution is expanding its use across industries such as retail, logistics, and automotive. It enables automated trailer gate checks and continuous tracking within the yard and integrates with Blue Yonder's warehouse management system. Additionally, there are four joint solution projects currently underway. On the right is RoboSync, announced in October. Developed by Connect, this new technology enables intuitive control of robots in factories and warehouses across multiple vendors. It allows control of robot arms, hands, cameras, and sensors from various manufacturers through a single control platform. Its ability to connect seamlessly with Blue Yonder and Rapyuta Robotics has been very well received, and we are already collaborating with 26 SI partners. We will continue to accelerate the collaboration between Connect and Blue Yonder. Thank you for your attention. Thank you, Harada from Goldman Sachs. Thank you for this opportunity. I have two questions. First, on energy. Data center was focused in your presentation, which is good news, of course. For in-vehicle battery production line is to be used, you said, especially for Kansas, which should ramp up in a large scale going forward. While in-vehicle battery is sluggish over a medium to long term for data center applications, to what extent do you expect the capacity in Kansas to be filled by this data center demand? That's my first question. My second question. You focus on three businesses today. I understand that they are the priority areas, and they, I suppose, will be retained within Panasonic Holdings as businesses. Still, I can't really get the feel of the synergy amongst different businesses. To reduce the conglomerate discount for the holdings itself, how do you plan on doing that? I understand that for Blue Yonder, there isn't much that you can talk about because it is prepared from the listing. Can you again explain the reason why you decided to focus on these three companies, three businesses today? Thank you for your two questions. First is with regards to energy, the data center, the Kansas plant, to what extent the capability at Kansas plant will be used for data center applications over medium to long term. Your second question was a rather nuanced question as to what will be retained and what will not be retained going forward. First, I give the floor to Tadanobu-san for the first question on energy. Thank you for your question. First, cell production is rapidly expanding, and we would ramp up in accordance with the speeds required by the customers. Of course, we will enhance the capability of the existing lines in Japan, as well as use part of the in-vehicle battery production lines. You asked about Kansas. For the cylindrical batteries, it is not separated between e-vehicle and data center. It could be used for both purposes with minimum investment for modification of the production lines. As you are aware, for in-vehicle, towards the next growth, this preparatory phase is continuing a bit longer than we had expected. It is not a question of in-vehicle versus data center. We will just be looking at the demand in North America. To be more specific, currently, as for cell set, they are currently in production more than you think, the gigawatt is smaller, maybe a single five or less gigawatt or so. With that, we are thinking of using the capability of Kansas to a certain extent. Thank you, Tadanobu-san, for the response. Harada-san, your question, your nuanced question about what will remain, what will not remain, you used a rather sensational expression. We are working on the group management reform, trying to optimize our resources. We're in the midst of that effort. As we have been saying, for the organic actions, we are partly looking into those possibilities, and we will give you the details once we are ready to make such announcements. Basically, of these three businesses, you said there isn't much synergy. True, in our presentations today, there was no emphasis on synergy. As Otaki-san explained, the Toyota Arena case, and Nikkei Business also talked about the Es Con Field in Hokkaido. These are the cases in which Electric Works and Connect had synergy. In terms of energy, energy storage, and energy management systems and devices, for that purpose, Otaki-san's company and Tadanobu-san's company do have synergy, although we did not talk about that this afternoon. By addressing those within the solution area, we have to make sure that there will be synergy. I am not sure if synergy is the right word, but a total proposal capability is what we would like to really exercise going forward. Otaki-san, if you have anything to add, I ask you to do so later. Regarding the listing of Blue Yonder, the policy remains unchanged for it to be listed. As Higuchi-san said earlier, the Blue Yonder business is part of the integrated solutions. Over a long term, this is going to be the continued effort. We would like to think of the listing within the framework, but the realm that Blue Yonder is doing business in. We have seen continuous mergers and acquisitions, including rather high-priced ones. Should this continue, then depending on the status of our capital allocation, we might try to get external financing as well, including what we will get in relation to listing. When time comes, we will look into these possibilities more solidly. Otaki-san, Higuchi-san, anything to add? Thank you, Otaki from Electric Works. As Kusumi-san said, in addition to what Kusumi-san has already mentioned, within our group, the energy storage systems of Tadanobu-san's company and for the improvement of the power generation capability of housing. Regarding the hydrogen fuel battery, we do have the first-in-kind system being developed that will combine the energy distribution and energy supply as well for the first time next year. We are promoting the establishment of customer data infrastructure within EW Company. We do have the customer data totaling over hundreds of thousands, so as to make the lifetime value by customer being visualized. We will be leveraging those capabilities for the continued growth of the group. This is Higuchi. Additional comments. As I briefly mentioned earlier, it is really hard to see software vendors out of Japan, originating in Japan. We tend to customize, and we are still in the Galapagos state. From Blue Yonder, we are learning a lot in terms of the software development and others as Panasonic Group have added value on cloud or the additional services based on the same infrastructure will increase going forward. The state-of-the-art Blue Yonder thinking and platform could be leveraged in that sense. I see. Thank you. Very clear. That's all. Thank you very much. We will take a question from the next person, Okazaki-san of Nomura Securities, please. Thank you. I'm Okazaki of Nomura Securities. My question is on energy. This time, as a next generational product, CBU and WBU for the rack was introduced and supercapacitor and ultra-high output was also mentioned, what kind of technological advancement is incorporated in this area? If you could explain more on capacitors in your industry capacitor, you have been working on that, but the supercapacitor seems to be different. Can you build that in-house? In some cases, it may be better to procure from outside. For ultra-high output, the cell level, at cell level, existing product, what kind of evolution are you planning to introduce? Okazaki-san, you have an additional question. My second question is on Blue Yonder. This time, investment recovery roadmap was presented in 2026. You are to still improve the revenue, and I think it is delayed. How do you see the risk of further delaying the generation of the profit? Thank you for your questions. For energy supercapacitor, there are so many things I would like to talk about, but I will let Tadanobu answer that question and investment recovery of Blue Yonder. Higuchi-san, please. Thank you for the question. The two technologies were introduced today. One is using capacitor, building new racks, and also towards the future, we are to implement a new racks. Your question was a technical question on capacitor. We are developing cells together with industry for material or technology. It is done by industry, and the finished product is covered by the energy. That is the roles and responsibilities you talked about procuring from outside. Actually, we use capacity as a principle, the evolution of the material technology and having uniqueness of the structure. The data center for data center, usual capacity cannot cover. In that part, we are to develop original product and finishing into the product. Originally, on in-house, we are developing and then to complete the product development under energy. Another point to install in racks, one aim is for the two generations into the future, there will be power racks and 800 volt will be our assumed standard for the future power rack. High voltage management is necessary, and such PDU will be developed and further value add will be incorporated together with the customers. On cells, are there any evolutions? The GPU's requirement in a given generation for the data center new cell recipe development is already completed, and that will also be implemented in the high voltage area. In both sides, the devices will be evolved. Okazaki-san, between capacitor and cell, capacitor is way larger in terms of the size of the energy for the current takeout instantaneously. With such a large capacity, then we can leverage on the technology built through the battery development. Higuchi-san, please reply on the Blue Yonder investment recovery question. Let me talk about Duncan's personal story from the university days. He has been learning the supply chain software, and after becoming CEO of Blue Yonder, it's his dream to create a world's top supply chain software company. He is going to rewrite all the softwares, and he is determined to do this. Rewriting software, this is a very difficult task. On top of that, there is generative AI. That is to be incorporated, and five acquisitions, they are to be integrated. That is the development underway. In 2025, the majority of the development investments are already made, and we have actual products. They are visible. In 2026, we will focus our funding on go-to-market. Future investments in other areas, we are not considering at the moment. The probability of emerging risks in other areas is very low. What about the pipeline? Are you feeling the success in the cognitive area? Yes, as much as I can share. We cannot show the data, but in terms of the pipeline, we are feeling a good reaction. At the end of 2024, there was a security incident, and there were some customers who canceled. Due to such factors, concerns are being raised, but this is a temporary matter. In the future, the pipeline will lead to revenue. That would be the reality. Duncan joined, and he said the softwares need to be rewritten entirely. At the time of the acquisition, we could not recognize at that point. From your perspective, it looks like the investment recovery is being delayed compared to the initial assumption. Okazaki-san, did this answer your question? Yes. We'll move to the next person. From J.P. Morgan, Aida-san, please. Thank you. Aida from J.P. Morgan. I have two questions. First, on energy, JPY 800 billion sales is the target that you presented. To achieve this, how much investment increase is projected, or how much increase in fixed cost is projected? If you can share anything. You did talk about the expansion of the production facilities and development, as well as human resources. On the expenses side, I think the big items, what are the big items? If there are any numerical information, you can share with us. When JPY 800 billion sales is achieved, would the profit margin improve compared to what it is today? That's my ultimate question. My second question, again related to profit. On Blue Yonder, what you disclosed today, the margin before adjusted, I think about 5%, and after adjustment with R&D, maybe 19% or less. Manhattan, I think, is close to 30%. Blue Yonder, at the time of acquisition, compared to that timeframe, I think now it's lower. I'm looking at slide 11 for FY 2028 onward or calendar year 2027 onward. You expect the margin to improve. I don't think that would be achieved just by eliminating R&D expenses. What are the other factors that are needed for profit increase? Would it simply be an increase in top line, or are there any other factors that are needed for the margin improvement? Thank you. The first question goes to Tadanobu-san. Second question to Higuchi-san. Thank you for your question. Fixed cost investment was your question. First, I think it was asked in the earlier question as well, the cell. The initial investment amount is large. By FY 2029, we're not expecting large investments. We'll be using existing facilities, and we would be optimizing the assets. We're not thinking of any major investments for now. It is going to be investment light. In terms of amount or the size, in terms of gigawatt, it's not that large. It's hard to really give you. It may be the double-digit billion JPY at most. To achieve the JPY 800 billion sales, that is a 2.5-3-fold increase. The investment is not going to be that large. As for fixed cost, as for the labor-intensive part, that will be the assembly. For the Mexican plant, it's not going to be that large. Automation is progressing. I can't give you the figures, but in terms of operating profit, what we do disclose for energy, the profit margin that we have today would be secure, and we're hoping for higher than that. Even with the increased sales, we plan to at least maintain the current profit margin. For Blue Yonder, our CFO, Nishikawa-san, would respond. For fiscal, or rather calendar 2027, beyond margin improvement, there are three factors. First, as you said, Aida-san, development cost will no longer be incurred. That's a big factor. Another is an improvement in the marginal profit. With the increase in the size of SaaS sales, that will be the beauty of software business. The marginal profit or the marginal cost is very small. The marginal profit will increase. As for the new platform, we can expect the customers to move from the existing platform to a newer platform with better marginal profit. As for the fixed cost, the ratio would go down because of the economy of scale. The fixed cost factor will go down. These three factors will drive the margin improvement. If I could add, from conventional SaaS to native SaaS, the margin would improve quite a bit just by that factor. That is part of the story. With the completion of the cognitive solution, on a per-customer basis, the number of modules adopted will increase. When one is adopted, that could lead to more modules being adopted. At least we will have more opportunities for that. What do you think? Yes, exactly. Still, Manhattan is a point solution, so it is on a unit-by-unit basis. They can sell rather in a speedy manner, whereas Blue Yonder still has an issue with the speed. That is where the energy is now concentrated on. I see. Thank you. We will take a question from next person, Mitsumi-san from Nikkei. I am Mitsumi from Nikkei. Can you hear my voice? Yes, we can. My first question is on Blue Yonder. My question is to Higuchi-san of Connect. On the profit improvement, the image is presented, but I'm interested to know more rigid numbers. Blue Yonder consolidated adjusted operating profit. When will that turn to black ink? I tend to speak too much. I checked with my CFO sitting next to me, and he said that we cannot provide an answer to. It conflicts with the regulation, so we would like to refrain from making such a comment. Your thoughts, the outlook, that as well, difficult to answer. Internally, of course, we set our own forecast, but we would like to refrain from giving a clear answer. Mitsumi-san, there is a legal or regulatory constraint before listings, so that is why we cannot comment. My second question is to Kusumi-san, structure reform progress. I would like to understand further details. The businesses that are growing were covered today. In the previous round of earnings call, you already presented on the businesses which are not successful or others that are being restructured. What is your thoughts on that? This is not related to today's main topic, but if I were to make a comment, Mitsumi-san, there's no additional comment on top of what we announced previously for TV. We are to go higher than the hurdle so that we can maintain the business, and we are in the process of achieving major reform in the operation and refrigerator kitchen. We are to boldly proceed with China shift, and we are to surpass the hurdle rate. Within two businesses under industry, there are partial challenges, and we are looking at non-linear measures as well. Once we conclude the contract, we will be ready to disclose. Understood. Thank you very much. We'll move to the next question. From Toyo Keizai, Aida-san, please. Aida Kei, from Toyo Keizai. I have two questions for Kusumi-san. First, continuing from the earlier question. Please correct me if I'm wrong. In February, you talked about FY 2026. There are seven businesses on which the direction is to be decided. At the end of October, you talked about four of them. There was a PHS announcement in November, so meaning five. Remaining is HVAC and one more. You have yet to talk about those. I think this will be your last presentation or briefing, Kusumi-san, for this fiscal year. You said that you will talk about the direction by the end of this fiscal year. Does that still hold? Panasonic Go and B2C AI service Umi that you talked about at the beginning of the year, especially for UMI, the service was to start during this fiscal year, FY 2026. We are in November, or we were in December now, and you have yet to make any announcements. Is there any delay, or has there been any change in the policy itself? Thank you. Your first question about consumer electronics overall, as well as HVAC. For consumer electronics, for TVs and kitchen appliances, other than those, the hurdle rates have really gone up, and they have been exceeded. So while that is to be resolved, and when the group, as a group, that could be optimized, then they are no longer the businesses with issues. As for HVAC, air to water did not grow as much as we expected, and the commercial use or the operational use air conditioning systems did not do well. For air to water, the market is beginning to recover. As for professional use, HVACs, which was suffering in Japan, there is an early pickup, and we are seeing signs of recovery towards profitability. Katayama-san, I have to give him credit for that. HVAC can satisfy the hurdle rate. Regarding the Panasonic Go, it is not just Umi alone, but we are talking about AI use to change the business as well as their operations. This will be implemented steadily, for sure. For the consumer electronics, where we are strong in Japan, even here, we will use AI. In that sense, regarding Umi, I do see the need to really show the direction. I'm going to ask CSO Sumida-san to comment. Thank you for your question. Kusumi-san has already covered most of it. As for Go itself, we have already made announcements regarding the use of AI for a group overall, not just the consumer electronics, but to change the existing businesses as well as operation. On this movement, we are continuing to see acceleration. For Umi, particular application for consumers, how we can provide businesses using AI, that's something that we continue to look into. Follow-up. Regarding Panasonic Go, do you have any specific actions taken or initiatives? That's what I wanted to hear about. As for Umi, it's not likely to start by the end of this fiscal year. Am I correct? Thank you for your questions. Internally, this is internal, and that's why we haven't really made any announcements. For Panasonic Go, we already do have the organization established to cover the entire group, and initiatives are being implemented. We have also started to look at the possibility of turning this into business. We will make announcements when things become more clear. As for Umi product development, that's not going to be completed by the end of this fiscal year. I see. Thank you. We will take a question from the next person, Hirakawa-san, of BofA Securities, please. Thank you. I'm Hirakawa of BofA Securities. Question is energy-related. The sales up to FY 2029, the awards have been acquired for next-generation product. How much visibility do you have on the sales? In FY 2029, one-fifth is made up of next-generation product. The current 80% market share in the next generation, what is your assumption of the share in making this calculation? Thank you for the question. In FY 2029, we will shift to next GPUs from the currently produced items, and we are acquiring awards. How much those will penetrate and what will be the probability? That was the gist of the question. Capacitor units we showed today and high-voltage BBU development, we have acquired award with priority. The last process is to finish the technology with customers, and 80% is the weight of those products. The 20% are the areas where we have not finalized the specification with customers, and the rack design is yet to be done. We are yet to acquire awards, and we are discussing on the new solutions from FY 2028 - FY 2029. We are hoping that we can contribute in those areas as well. The projected share in the future, it is uncertain how the competitive landscape will be, but share weight of this industry, the general perception is seven to two to one. First vendor takes 70%, and then 20% and 10%. Of course, we assume that we make full contribution, but we are the first vendor. That is the assumption in our simulation. Thank you. All right, now we'll go to the next person. Yasui-san from UBS Securities, please. Thank you. My first question is on energy. Basically, just one big question about market share. If you look into detail, cell module and eventually CBU and BBU as an integrated solution. So cell. So where are the areas where you can maintain the large market share? You talked about 70%, 20%, 10% or seven to two to one. Where are the areas where you can't avoid losing certain market share? Regarding the margin, with the market share going down, how would your operating margin go down? My second question is on Blue Yonder. The multiple of the industry overall is high, but when it comes to general service, with AI, it becomes more commoditized. Maybe CRM and other applications will be replaced by generative ones. The Gemba application or the applications that are close to Gemba may not be competitive anymore. Would AI be good news or bad news? I think SCM industry multiple is high today, but can we expect that AI is not going to be a negative factor? In other words, not going to replace. First to Tadanobu-san, second to Higuchi-san. Thank you. Components, market share, our business itself is not selling cells as a standalone or software as standalone products. No, we provide the most efficient backup unit modules with the power supplies for the customers. There would not be any change in terms of what the market share is going to be per those components. Yes, there are some factors that will distinguish ourselves from others, but in all areas, we do have proprietary technologies. I believe we do have strong capability to sustain our market share. We have the vertical integration from materials to cell to battery to capacitor. We are the only one in the world. We are to be the provider that will continue to provide values to our customers as a package. The trusting relationship that we have built with our customers is very strong. Their future challenges, future aspirations, we are well aware of what customers want. We will continue to try to satisfy those as we plan our future. The more recent trend is the operational cost of our customers to make a contribution in that respect. It is not a question of whether the market share is going to go up or down slightly. What is most reasonable for the customers in terms of the total cost, I think, would be an important one. I think we do have a capability to maintain the balance in terms of profitability. That will be retained even under JPY 800 billion. If I could add, Tadanobu-san, for capacitors, what kind of AI accelerators customers use? What will be the GPU roadmap of NVIDIA? There are plans if the customers are there. If we are to satisfy those, we need capacitors. For that, we need these capacitors. That is the thinking process of our development. Why provider? The customers, with the evolution of semiconductors, their challenges, issues are becoming more complex. We want to be proactive in addressing those questions. Instead of being reactive, we want to be proactive in making solutions, providing solutions to customers' emerging challenges, including the control capability. That cannot be supported by conventional capacitors. We felt the need to develop a new principle for capacitors. We used our internal resources expertise for the early development. It's not just synergy. Tadanobu-san, you were in the capacitor business yourself. Right. Higuchi-san, the second question. If you can look at slide seven. Slide seven, the orange portion on slide seven. There are three parts. On the left-hand side is the engine for the supply chain execution. Machine learning, Blue Yonder, to be optimized to workflow for execution. This is the world where the fixed formula is to do the calculation. When the threshold is exceeded, what do you do? Is what we're talking about here. It's a preset. This is really about numbers. As for generative AI, on the right-hand side, we are talking about the sensitivities that are close to human thinking. When things go up, you know that you really need to watch out. You really don't need thresholds. This is more non-engineering. When those two are combined, that will result in a very strong AI. People talk about physical AI. On the left-hand side, we are showing many things that are executed physically. This is going to be replacing logistics, robotics, and others. This is not add-on AI, but native to connect the two sides. That is the beauty of Blue Yonder's solution. In many ways, AI is going to be functioning very strongly. For example, if you feel that demand is going to go up, looking at the SNS messages, change the planning or the states of the traffic or airport or roads, and change the distribution plans or on the supply side, they are all connected. You can see where the inventories are. If you do have the temperature control, the temperature and the allocation could be combined to make very high precision decisions. Generative AI is not going to be disruptive. Rather, it will be supporting your decisions. That's where we expect enhanced value. Thank you. I have a question, follow-up question on Tadanobu-san. CBU and BBU integrated solution. I think controlling that is a possibility as well, meaning the added value might go up. Would it be Panasonic that will do the control? Would it be Hyperscale or others that will take care of that? Thank you for your question. It's not yet 100% clear, but maybe turnkey with more efficient solutions. Those possibilities would be taken into consideration. We will be deciding what to do in the not-so-distant future. I see. Thank you. We will take the next question. There are many people raising hands. I would like to ask you to limit your question to just one. Ono-san from Nikkan Kogyo. I'm Ono from Nikkan Kogyo Shimbun. Can you hear? Yes. My question is related on structural reform. I would like to ask about the qualitative area for solution area you have presented today in progressing as planned. What is the meaning of completing the structural reform and the purpose of the structural reform? The group management reform is progressing and the personnel optimization. This is actually improvement of the profitability, as I have said in the beginning. In case of our company, during the past several years, COGS rate has risen. We first need to suppress and make the organization lean. Another aim is to change the work style to improve the efficiency. Also, we discontinue work that does not generate value and also accelerate the utilization of generative AI. The solution areas that we presented today, what to do with each of these areas, that is a separate axis. Did this answer your question? Understood. Thank you very much. Next person. Nishimura-san from Okasan Securities. Thank you. One question about Electric Works EW. Improvement in profitability going forward? You mentioned various factors. Solution, higher added value, and increased sales of overseas ratio. What are the factors that you are currently focusing on, especially regarding the solution, expanding the sales and marketing resources? I think you were talking about these initiatives already. What are the challenges that you see? Otaki-san, please. Thank you for your question. For profit improvement going forward, the sales or the growth in Japan and growth overseas are to be combined. We're going to do both, especially for overseas. We will be focusing on India, especially. In 2007, we acquired the local company, and payback period is now already behind us. We are seeing increased growth in profit already. In the order of several hundred kilometers, the language changes, culture changes. That's the market characteristic of India. We will have to think of the ways to win in that kind of market. For the wiring equipment devices alone, we are currently producing worth JPY 600 million. About two years ago, we made the digital investment quite a bit. We are really covering the entire market company. We are making sure that there are no areas that we are missing. All this infrastructure is already being established. There are 10,000, 20,000, and 300,000 electric engineers. The total population is 300 million. That is how large that market is. Improving the efficiency of design and use of module design to reduce the cost to become even more competitive is what we will be working on. As for non-residential and projects markets, we are partnering with various players to make sure we are capturing the region-specific, local-specific needs to make sure that we win. Well-being, spatial development, and long-term reliability and lifetime cost reduction, all those factors that we have been talking about in Japan. Those factors that Japanese customers want are being felt in the Indian market as well. We are committed to the success in India. We will be proactively addressing M&As, and we will accelerate those efforts. As for Japan, we are to increase the cases and businesses, examples of which I talked about today. The solutions ratio has now improved over the last three years. Consulting, as well as post-market operation, their profitability is improving. We would like to increase the ratio from 30%- 50%. We are enhancing the human resources to enable this. Engineering capability, digital human resources. Over the last three years, we have been making necessary investments for future growth, especially for energy management. The question is whether we can monetize this at low-voltage BBP. We are doing a demonstration with some partners. It may take some time, but verifying the results should be fine that this is going to be feasible and successful. That will be part of our next growth strategy. As an opportunity side, top five from there is a movement towards LED, long fluorescent lights. Power consumption within the building needs to be addressed. That is the top five. In fiscal 2028, the sales of fluorescent lights will be banned. Currently, there are still 600 million that remain in Japan. We have been expanding the capacity to produce LED facilities 10 years ago. We are getting many order inquiries of these lighting vectors together with air conditioning. LED replacement and ZEB combined should contribute to improved profitability. We are to realize energy consumption not only in those, but customers want the well-being to be addressed concurrently as well. We are getting relevant inquiries rather strongly now. In the area of lighting, we are the global company. We do have the flat technology and beam-free technologies. These technologies will be used for the lighting fixtures as well. Hope that answers your question. Yes, thank you. We will take the next question. Ezawa-san from Citigroup Securities. I'm Ezawa of Citigroup Securities. I have one question on batteries. In fiscal year 2029, ROIC of 20% or higher is the target. Can you break them down to explain what is included in this target and what kind of forecast you are setting? Large CapEx will not take place. That is what you have been explaining. Energy solutions, capital invested, the battery factories in Kansas for EV or domestic battery factories, the switching, the purposes of those factories, those investments are not included. That is why ROIC is high or the profit margin is very high so that ROIC can go higher than 20%. Tadanobu-san, please answer this question. I'm not going to cover the details of the numbers, but both of the points, as I also mentioned, would be true. This time, all of the changes reformed products are included, and the conversion from automotive to data center are included. The sales growth is not just driven by the sales of the cell as a standalone product. There are upsides, and the gross margin will rise along with the growth. We have good visibility that we can secure 20%. Thank you. I would like to ask for some additional explanation. Data center battery business is going to expand quite rapidly. And other Panasonic Energy's ROIC as the company, the rest of the business, the improvement is not expected. Just energy solution will grow. It's not going to be the picture. Probably not improving. It will not be true. But looking at the efficiency, currently, the data center is large in scale when it comes to JPY 800 billion in scale. In FY 2029, a snapshot, we will grow larger. Right now, Kansas is to be utilized fully, and that will contribute to the improvement. In FY 2029, all of the assets will be fully utilized, although the nature of the utilization may change. Overall, we expect growth. Thank you very much. We're getting close to the end time, so we will only take two more questions. From Nikkei Business, Iwata-san. Iwata from Nikkei Business. I have a question for Kusumi-san. Solution, I think, is defined differently from business to business, and strategy differs from business to business. Conventionally, you talked about in-vehicle as the growth area and making focused investment. Do I understand correctly that going forward, you will not be that specific? In other words, you will not be focusing on a particular area. Solution sounds too broad. I was wondering what kind of image you have as corporate balance. Thank you, Iwata-san. Yes, solution could be conglomerate to a large extent. Integrating them all for synergy is not really the story here. If you look at specific pieces, there are various combinations that you can think of. Rather than separating them all, we want to focus more on what we can do as a group facing the customers. Including what was mentioned earlier, that's what we want to enhance. I see. Thank you. Thank you very much. Lastly, Katsura-san from SMBC Nikko Securities, please. Thank you. I'm Katsura of SMBC Nikko Securities. I have one question on energy. The concept is what I would like to know. 80% share in this definition, the sales or capacity will triple and the revenue will be JPY 800 billion. How do you see this to be realized? In my view, you may be able to shoot for higher. The demand from the peak is high. We may expect further revenue increase from that. The pieces disclosed are not connected in my mind. That is the reason for asking this question. For share basis, if the output is high, then a particular player can get a larger share. In the market, the current position may decline. There is such a major concern. What is your rebuttal on such a concern? What are the risk sides? Tadanobu-san will talk about the details. Peak shaving, I think that relates to capacitors. Firstly, our contribution includes, along with the evolution of GPU, there will be new concerns, various concerns. Platformers, when it becomes difficult to efficiently design comprehensively by themselves, we can go in as the solution provider. The 80% share, the 70% that I mentioned, we will aim at that level. If there is no solution identified, we will need to get in and provide our solution. Our recognition is that sophisticated, complicated systems are to be built and battery cells and BMS to manage them and a system to manage the peak and also the units. Sophisticated integrated suppression of the power will be needed. It's not that particular cell battery manufacturer is superior, but rather we are positioning ourselves as the overall solution provider. Share is determined by the customers. It's not for us to answer, but our recognition is that at the development stage, we are answering to those challenges, and we are positioned at the top. We have acquired awards, and customers recognize our service. We would like to strengthen the relationship with customers and build further. I wouldn't say we will monopolize, but rather we will continue to aim at keeping that top position. Thank you. Thank you very much. That concludes our Q&A session. Thank you for your participation. With that, we have completed the entire program for the day. Once again, we thank you very much for joining us today despite our busy schedule. This concludes today's briefing. Thank you for your participation.