We thank you very much for joining us today. We will now begin the Sony Group Corporation's first quarter earnings announcement. I am Ishii of Corporate Communications. I will be emceeing this session. Today, fiscal 2026 first quarter consolidated results and consolidated forecast will be presented by Executive Officer and CFO Lin Tao, followed by questions and answers. The English pre-recorded presentation by Ms. Tao will be streamed through the English channel. We are planning for a total of 70 minutes. Ms. Tao, please. Hello, everyone. Welcome to Sony Group earnings announcement. Before explaining our financial results, I would like to discuss the impact of the 2026 Kumamoto earthquake that occurred on July 28th. First, I would like to express my heartfelt sympathy to those affected by the earthquake and to those daily lives have been disrupted. We have several semiconductor facilities located in Kumamoto Prefecture and neighboring prefectures. While all these facilities were affected by the earthquake, there were no casualties other than a few people who sustained minor injuries. The Kumamoto Technology Center of Sony Semiconductor Manufacturing Corporation in Kikuyo Town, Kumamoto Prefecture, which is relatively close to the epicenter, experienced shaking at a seismic intensity of 5+ and suspended production immediately after the earthquake. Restoration efforts to resume production are currently underway. Our production sites in Nagasaki, Ōita, and Kagoshima had no significant damage to buildings or equipment, and production has resumed. We will continue our efforts to fully restore production and will update you on the progress and impact on our business at the appropriate time. As it is currently difficult to reasonably estimate the financial impact of this earthquake, the impact has not been incorporated into the full-year results forecast we will show today. Now I will turn to the earnings presentation. Consolidated sales for the first quarter ended June 30th, 2026, increased 8% compared to the same quarter of the previous fiscal year to JPY 2, 837,800,000, 000, and consolidated operating income increased 40% to JPY 476.5 billion. Both record highs for the first quarter. Net income increased 32% to JPY 342.2 billion. The financial results by segment are shown in the Q1 FY 2026 results by segment slide. We have increased our FY 2026 sales forecast 2% compared to our previous forecast to JPY 12, 500,000,000, 000. Our operating income forecast 8% to JPY 1, 720,000,000, 000. Our net income forecast 4% to JPY 1, 210,000, 000,000. We expect operating cash flow to be JPY 1, 500,000,000, 000, unchanged from the previous forecast. Regarding U.S. tariff refunds, we expect approximately JPY 80 billion of the tariffs, which the Sony Group as a whole paid, to be refunded during the current fiscal year. We have allocated most of that amount to an upward revision of our consolidated operating income forecast. The FY 2026 result forecast by segment is shown in the FY 2026 results forecast by segment slide. In the All Other segment, Sony Financial Group, which was previously accounted for under the equity method, no longer meets the accounting standard of an equity affiliate since SFGI's shareholders meeting last month. Consequently, we have concluded the recording of equity method income or loss in FY 2026 Q1, and it is not included in our results forecast from the second quarter ending September 30th, 2026. This is strictly a change in accounting treatment and does not imply any change in the position of SFGI within the Sony Group, nor a change in our collaborative or capital relationship with SFGI. I will turn to an overview of each business. First is the G&NS segment. FY 2026 Q1 sales were essentially flat year-on-year at JPY 937.1 billion. Operating income increased 37% year-on-year to JPY 202 billion, primarily due to the impact of U.S. tariff refunds, partially offset by an increase in costs, including investment for the next generation platform and restructuring costs. We increased our sales forecast 3% from the previous forecast to JPY 4,540 billion, primarily due to the impact of foreign exchange rates. We increased our operating income forecast 10% from the previous forecast to JPY 660 billion. Primarily due to the impacts of the U.S. tariff refunds and foreign exchange rates, as well as additional cost improvements. The number of monthly active user across PlayStation platform in June increased 2% compared to last June to 125 million accounts, a record high for June. Although total play time during the quarter decreased 4% year-on-year, we think that user engagement continued to be solid because the same period of the previous fiscal year benefited from season updates to major titles and new hit titles. We expect further improvements in engagement metrics going forward because many major titles are scheduled to be released toward the end of calendar year. Regarding the impact of memory market conditions on PS5 hardware, we have secured the quantity of memory necessary to meet our projected sales volume for the current fiscal year, and there is no change to our plan for hardware profitability to remain similar to the previous fiscal year. We continue to aim for further growth of the install base while closely monitoring PS5 hardware demand trends and the potential for securing additional memory. In the studio business, live service titles such as latest installment in the MLB The Show series and Helldivers 2, now in its third year since release, continue to contribute steadily to revenue. With the release of Season 2 in June, Marathon has maintained a high user retention rate while also acquiring new users. As for titles on sale this fiscal year, Saros, released in April, received high acclaims with a Metacritic score of 88 and is steadily expanding its user base. Going forward, we expect Marvel Tokon: Fighting Souls, set for release in August, Marvel's Wolverine, set for release in September, and God of War: Lau fey, set for release in February of next year to continue to drive performance in this segment. Next is Music Segment. FY 2026 Q1 sales increased 21% year-on-year to JPY 562 billion, primarily due to the impact of foreign exchange rates, as well as increased revenue from live events and higher streaming revenue in recorded music. Operating income increased 14% to JPY 105.9 billion, a record high for the first quarter. We increased our forecast for sales 2% from the previous forecast to JPY 2,190 billion, and our forecast for operating income 5% to JPY 420 billion, primarily due to the impacts of foreign exchange rates and the consolidation of Recognition Music Group. Streaming revenue for the quarter on a U.S. dollar basis increased 10% year-on-year in recorded music and 8% in music publishing. Reflecting the global success of the movie Michael, streams of songs by Michael Jackson, whose music catalog is co-owned by Sony Music Group, increased significantly, reaching approximately four times the level seen before the film's release. We think that the significant increase in streams of his songs by Gen Z indicates that Michael Jackson's music is attracting a new generation of young fans and will continue to be enjoyed for many years to come. As catalog listening continue to grow throughout the market, SMG is leveraging its global catalog management expertise to expand its reach into new markets and audience, thereby continuously enhancing the value of its catalog. We believe that we can expect further value appreciation going forward due to new and greater licensing opportunities enabled by AI. In FY 2026 Q1, Ella Langley's new album, Dandelion, reached number one on the U.S. Billboard album chart, and its lead single broke the all-time record for the longest run at number one by a female artist on the Billboard single chart. This indicates that we are continuing to discover new hit artists, and we plan to further enhance our business foundation by also continuing to focus on catalog. Next is the picture segment. FY 2026 Q1 sales decreased 4% year-on-year to JPY 315.1 billion, primarily due to a decline in the numbers of series deliveries in television production, partially offset by higher revenues from Crunchyroll. Operating income increased 33% to JPY 24.8 billion, primarily driven by a decrease in marketing costs related to theatrical releases. We increased our sales forecast 2% from the previous forecast to JPY 1,660 billion, primarily due to the impact of foreign exchange rates and our operating income forecast 3% to JPY 150 billion. Spider-Man: Brand New Day, which opens in theaters around the world starting this weekend, is one of Sony Pictures Entertainment's most iconic and long-loved franchises, and we are confident it will be a hit. In June, SPE announced that it will further enhance its experiential entertainment through a strategic investment in Cosm, which specializes in cutting-edge shared reality technology that bridges the virtual and physical worlds. Through this partnership, SPE aims to provide fans around the world with new immersive content experience and expand the value of Sony Group's extensive portfolio of IP. Regarding anime, which is one of the pillars supporting our creative entertainment vision, we are working with creators and partner companies to further grow our business across the Sony Group. Aniplex and Kadokawa, through the anime film distribution company, Animax, which they jointly established in March 2026, have begun distributing theatrical anime films since May. Going forward, they plan to distribute works made by Aniplex and works sourced from Kadokawa's novel and games. Aniplex and Crunchyroll are continuing to collaborate on the development and expansion of anime IP, and they have decided to produce a theatrical film of the global popular hit anime, "Solo Leveling." Crunchyroll continues to grow its subscribers beyond the more than 21 million it had at the end of March this year, and its results in the quarter improved year-on-year. Next is the ET&S segment. In FY 2026, Q1 sales increased 2% year-on-year to JPY 543.9 billion, and operating income was essentially flat at JPY 42.6 billion. There is no change to our FY 2026 forecast. The imaging market this quarter remained stable in all regions except China, where the market continued to experience negative growth compared to the previous year. Against this backdrop, strong sales of the α 7 V, which won the grand prize at the Camera Grand Prix 2026, and the α 7R VI, launched in June, helped raise average selling prices and expand our market share in the full-frame camera market, enabling the imaging business as a whole to maintain its sales on par with the same quarter of the previous fiscal year. In the displays business, new True RGB BRAVIA models boasting the widest color gamut in the history of our consumer TVs were well-received. The continued surge in memory prices remains a key business challenge for this segment this fiscal year. However, the business is doing everything it can to implement cost reduction measures in procurement and design, and to adjust its pricing strategies, including foreign exchange management. We expect to maintain the profit level projected in the previous forecast for the segment as a whole. Last is the I&SS segment. FY 2026 Q1 sales increased 26% year-on-year to JPY 512.7 billion, mainly due to higher average selling prices of mobile sensors, as well as the impact of foreign exchange rates. Operating income increased approximately 2.3 x to JPY 122.2 billion and reached a record high for the first quarter. We have increased our FY 2026 sales forecast 2% to JPY 2,110 billion, and our operating income forecast 5% to JPY 420 billion from our previous forecast, mainly due to the impact of foreign exchange rates. While the smartphone market posted negative growth for the second consecutive quarter, high-end manufacturers, primarily our major customer, are expanding their unit sales and market share. In line with this trend, although our mobile sensor unit sales only slightly increased year-on-year, sales grew significant year-on-year due to improved customer and product mix, as well as the impact of foreign exchange rates. Looking ahead to the second half of the fiscal year, we anticipate that market conditions for memory will also affect shipment volumes of high-end phones. Therefore, we remain cautious in our full-year forecast and expect revenue for mobile sensors as a whole to slightly decrease from the previous fiscal year. Regarding the strategic partnership with TSMC for the development and manufacture of next-generation image sensor announced in May, detailed discussions are progressing smoothly with a view to signing definitive agreements. To prepare for the establishment of the joint venture with TSMC, we have incorporated approximately JPY 10 billion in additional costs for the current fiscal year into our full-year forecast. Through our partnership with TSMC, which possesses world-class semiconductor process technology, we aim to further enhance the technological competitiveness of future image sensors, including high density, and to firmly capture growing demand not only in mobile sensors but also in areas such as Physical AI, thereby further solidifying our number one position in the image sensor market. To summarize, the G&NS, Music, and I&SS segments posted record profits for the first quarter, and the Sony Group as a whole has continued to achieve robust profit growth. Even in an uncertain business environment, the profit-generating capacity of each business segment is steadily increasing, and we intend to continue our efforts to deliver solid results in the final fiscal year of the fifth mid-range plan. Regarding the share repurchase program, the cumulative amount purchased through the end of June was approximately JPY 120 billion out of the facility we established in May, and we intend to continue to work towards strengthening shareholder returns. This concludes my remarks. That was the presentation by Tao. From 4:25 P.M., we will take questions from the media, and from 4:50 P.M., we will take questions from investors and analysts. We are planning for approximately 20 minutes for each Q&A session. Those who have pre-registered, please click the link to participate in the webinar and stand by. Please refer to the Q&A method instructions provided to you beforehand. We ask for your indulgence until we start the Q&A session. Thank you. We are about to start the Q&A session for media. You are kindly requested to wait for a few more minutes. Thank you. Thank you very much for waiting, ladies and gentlemen. We would like to start the Q&A session. First, let me introduce those on stage to take your questions. Lin Tao, CFO, Corporate Executive Officer. Hirotoshi Korenaga, Senior Vice President in charge of Accounting. Naoya Horii, Senior Vice President in charge of Corporate Planning and Control. First, we will take questions from the ladies and gentlemen of the media. To ask questions, please click raise hand button on the Webex screen, and you can ask up to two questions. The floor is open. The first person to ask a question is Nishizono-san from NHK, please. Thank you. Can you hear me? My name is Nishizono from NHK. Yes, we can hear you. Thank you. I'm sure you're so busy to take care of the aftermath of Kumamoto earthquake. Let me ask the first question about the Kumamoto earthquake. I think the semiconductor facilities in Kumamoto, you announced that from next month onwards, you are going to resume the production. 10 years ago when there was a Kumamoto earthquake, I think it took about three months to go back to the previous level of production. By the end of mid-August, you are going to go back to the previous level. Why could you shorten the time for restoration and BCP countermeasures? I understand this is the question about the impact of the earthquake. As has been announced in the press release, starting on the 4th of August, Kumamoto Technology Centers will start a resumption of the production gradually. By mid-August, we are scheduled to go back to the pre-earthquake level. Other than the Kumamoto, those production sites in Kyushu, Nagasaki, Ōita, and Kagoshima, already they have resumed the production. Compared to 10 years ago, simply put, the level of damage is so different this time. Of course, BCP and other matters, we learned lessons from the previous earthquake. We accumulated the expertise and knowledge how to quickly restore the operation. Simply put, this time around, the level of damage is so different from 10 years ago. The buildings and the production facilities for improving the anti-seismic strength that we have been doing this for the last 10 years. Not only our in-house efforts, but our collaborations and cooperation with partner companies have helped us because we discussed with them on these matters. Let me add that for this restoration this time, we enjoy the cooperation from the employees and also our business partners. This contributed to the fact that we can resume the production quickly this time around. I thank them very much. Next question, please. Nikkei, Yoshida-san, please. Yoshida from Nikkei Newspaper. Can you hear? Yes. Two questions. First, following up on the previous question, impact to the semiconductor business. Last time it took about three months. This time it's expected to be relatively short time to resume to pre-earthquake level operation. I don't think you have the full scope yet, and I don't think you have stated the monetary impact. Compared to the last time, the monetary impact would be less. Is that your outlook? Give us a qualitative response on that, please. Second, about the game business. PS5 You're going to end the disc products. I think that you made a comprehensive decision on that, and there was some movement against that, and some of the consumer organizations have criticized you. Some have sued you. How did you come to that decision, and how do you respond to the criticism? Was this a decision that was necessary for the next generation game device, or was it intended for enhancing the margin? Was that a sales decision? Thank you for the question. To address the first question about the semiconductor business impact of the earthquake. As I said earlier, we are checking various things, and it's difficult to estimate the overall impact. We'll be resuming more quickly than before and also the annual performance of semiconductor. We think that the impact will not have a major impact to the full year results for the semiconductors. PS5 ending disc production, the second question. On this point, we announced that January 2028 onwards, we will no longer be manufacturing game discs. One and a half years ahead. We made this announcement at this time. There are various reasons we made this decision. The biggest being that the digitalization of contents overall has been progressing. That's the big factor. It's not just for PlayStation, but for all kinds of contents, digitalization is progressing, when we think about the future, we put in a lot of thought and time, we cautiously considered this, we came to this conclusion, we're going to cautiously move this forward. To this decision, we have received various opinions, people have strong views, we understand that the community has put forth those views to us. Games are loved by many people. It's a form of entertainment that's loved by people, it's connected to people's fond memories in many cases. We understand those emotions. We want to consider that. In the future digital ecosystem, how do we engage the gamers is something that we would like to continue to explore. Thank you very much. The next question, please. Freelancer Nishida-san, please. Nishida speaking. Can you hear? Yes. I also have two questions. First, well, as was asked about the termination of disc production. At present, for example, are you seeing users and sales going down? Do you have any forecast? Are you saying that you're not in position to make such forecasts yet? I want to know what you think the impact will be up until 2028. About imaging, you have made a proposal to acquire Tamron, and is there anything that you can comment on at this point in time? Thank you very much for your question. About your first question about PlayStation disc. Well, up until 2028, well, at this point in time, well, we are not seeing any impact on our business as of now. Going forward, about the content sales, I think large part is already digitized. Therefore, as a result of the discontinuation of a disc, we don't see that there will be any negative impact on our business. However, as I already said, the users, the players, have attachments, and we have to think about how to respond to those feedbacks. About the second question about Tamron's announcement. Well, about Tamron. As they have disclosed, we made a proposal to make Tamron into 100% subsidiary. Now, the thinking behind this, first, Tamron, for the shareholders of Tamron and also for our imaging business, we think that it is a proposal will lead to the optimum value creation. Our proposal is to enhance Tamron's corporate value, and at the same time, we can combine our strengths. Leveraging these strengths, we can lead to the development of our imaging business. This was the assumption in making this proposal. That's all. Thank you. We proceed to the next person. From Toyo Keizai, Yamashita-san, please. Thank you for this opportunity. Yamashita of Toyo Keizai. I have two questions. First is about the proposal to Tamron. Let's say that if you acquire the precision lens manufacturer like Tamron, it seems that this shows a little bit of difference in the orientations of your past investment. How do you position this investment? Second question about SSS. You talked about the setting up of the joint venture with TSMC and also the additional cost of JPY 10 billion. How are you going to use this JPY 10 billion, and give me the timeline. When is it going to be used? Thank you for your question. First, about the Tamron's acquisition proposal. For Sony, places so much emphasis on creativity and technology to deliver Kando. That's our purpose. On this creativity, in the past, we have acquired various entities concerning IPs. For technology, the creativity of the creators have to be supported, and that is one of the pillars of our strategic investment. In that sense, this is a priority area of Sony's strategic investment. We have maintained a consistency in our investment thesis. For the details of the proposal, I am not in the position to make a comment at this moment in time. The next question about the TSMC joint ventures with the TSMC and its preparation cost, Horii will answer this. Thank you for your question. This time around, JPY 10 billion was allocated or posted for the full year forecast. In starting up the production in the new site, this is going to be a cost to be incurred, and that's why we posted this. This is the cost required for the production preparation in a general sense of the word. While we have not reached the definitive agreement stage, our discussion has been advancing smoothly. From the second half of this year, we would like to see the specific preparation work to begin. If we successfully conclude the agreement for the next fiscal year onwards, we would like to make investment with the current level or even more, in order to make the preparation definite. Time is running out, the next person will be the last person to ask the question. From Asahi Shimbun, Miura-san, please. Miura from Asahi Shimbun. Thank you for the explanation. I want to also ask about the earthquake, one clarification. You said that the extent of the damage was smaller than the earthquake of 10 years ago. In terms of the seismic intensity, Kikuyo Town's intensity compared to a decade ago was slightly less, and damage was less. Also, I think that you have increased the seismic resistance of the production facilities. That's my understanding. Is that correct? Are they the reasons that damage was less? Yes, you're correct. It is time for us now to end the media Q&A. We will start the investor analyst Q&A from 4:50. Excuse me, 4:50. We'll be starting the investor analysis Q&A shortly. Please wait a while until we begin. Thank you for waiting. We'd now like to start the investor analysis Q&A session. I'll be emceeing. I am Shin Kichi from IR. Those on stage are the three, the same as the media session. We'll start the Q&A. Those who have questions, please use the Raise Hand button on the Webex screen. Please limit your questions to two per person. From SMBC Nikko Securities, Katsura-san, please. Thank you. I'm Katsura from SMBC Nikko Securities. I'd like to ask two questions. One is an overall, and the next is regarding cost. The first question, I may have missed this in the presentation, but you have made upward revisions of which amongst the segments. You did make reference to the U.S. tariff refund on a total basis in the first quarter annual. How much of the refund has been factored in? Can you share those numbers with us? The second is about memory cost. In regards to memory cost, ET&S and G&NS are impacted annually. Especially ET&S, I think you said was JPY 30 billion. About these numbers, have there been any changes in how you factored this in? Can you explain that to us, please? Yes. Thank you for the questions. The first question is about the U.S. tariff refund and its impact on our forecast. Overall, the whole group, we are estimating JPY 80 billion refund. Most of it has been included in our upward revision of our forecast. About the second question about the memory cost, G&NS game and ET&S both are responding to the memory cost increase. About game, already we have secured the numbers necessary for this year, and this has already been reflected in our forecast. ET&S, most of the memories that will be needed has been secured, and the timing at which we can secure all the memory necessary will be the second quarter. I think we have a good outlook already, and therefore, the numbers have been included in our forecast at this time. That's all. Thank you, Katsura-san. The next person from Goldman Sachs, Munakata-san, please. Minami from Goldman Sachs. Thank you for this opportunity to ask questions. I would like to ask two questions on games. First, user engagement and market trend, and your market share. MAU in June hit the record high, and the total play time in June showed a little decline. What would be the overall trend and movement in this market, in your view? Do you have any conviction that you can keep this market share in the games? About the completion or the ending of the disc sales, I'm sure I understand the background. I understand that there will be an effect on the retailers. How do you position your relationship with the retailers? As the discs disappear, some of the users may feel that it's coming closer to the gaming PC. How do you differentiate that from the gaming PC? Thank you for your question. First, about the engagement of the games and the gaming market. For MAU, it's been steadily increasing and the play time. Well, it showed a slight decrease, but last fiscal year, compared to the same time previous year, there was a decrease in the contents, and that's the reason, in our view. We don't have major concern on the overall game business. Game as an entertainment, well, we can provide services so that a certain number of users always enjoy our products. Towards the second half of this fiscal year, major contents are set to be released. Not only the first-party IP, but the third-party IP's major titles are coming up in the secondary half, and there will be a boom, a boost. Now, about the market share, how do you define the market share? Hardware, in the first quarter, sell-in and sell-through have been quite robust. Most likely, we feel certain that the market share has not declined. Your second question about the end of the disc sales and its impact on the retailers. For the last 30 years, we have been selling PlayStation, and the retail partners have been always important to us. With the completion of the disc production, we communicated this at an early stage so that we have enough time to be able to listen to various partners' voices. In North America, this has already happened, but without discs. In the package, there's a code included. That's how they sell in North America. About the retailers, there are regional characteristics. For each regional partner, we try to have thorough dialogues so that we can end up in a win-win situation. Now, the differentiation from PC. We don't feel that the disc is the factor to differentiate from the PC. For PC, there's certain ways to play with the PC as an user. It's a long tail. Our strength is that the curated contents, that's one of our strength. The game environment being stable, that's another strength. Compared to the high-end gaming PC, our product is more affordable. We don't feel that the disc itself is a strong factor for differentiation. Going forward, we can coexist peacefully with PC games. Thank you. Thank you very much. Next, Mizuho Securities, Yasuo-san, please. Can you hear? Yes. Thank you. One question about music. The consolidation of the Recognition Music Group, I think they have a wonderful catalog. It'll be wonderful if that's achieved. You have this collaboration with GIC and size of the balance sheet, and how much investment in catalog. In the supplementary material, not that much mentioned. Talk about this. How much risk are you taking? How much risk are you avoiding in this scheme? In today's announcement, you gave us some information, but if you can provide some more detail, please. Thank you for the question. Recognition Music Group acquisition scheme is what you're asking about, I think. Concerning this acquisition, we're using cash and interest-bearing debt and GIC, part of the GIC fund. In terms of how we buy, I think we have put together a creative solution. The music catalog is going to be a very important strategy for us going forward, especially high-quality content is not always readily available. When we meet a high-quality catalog, we want to be prepared and be able to buy. Various financing methodologies we are preparing to allow us to make those moves. Thank you. Thank you very much. Time is limited. The next person will be the last. Morgan Stanley, Aida-san, please. Thank you. I would like to ask two questions. The first, confirming the numbers about the tariff refund. First quarter actual is how much? The segment breakdown. The annual JPY 80 billion. Again, if you could give the breakdown by segment, I would appreciate that. This time, you've made an upward revision of JPY 120 billion, but if you were to divide this, JPY 80 billion and less is the tariff refund, and the rest is foreign exchange? Is there an upturn in your actual business? Can you explain that? That's the first question. The second question, about I&SS, the second quarter and after, the demand based on the user, well, smartphone, North America, China, the memory cost increase will impact. What about that? Other than that, digital camera, the price is going up slightly, and automobile FA also, can you give the outlook? Thank you very much. About the tariff refund and the details of the refund. Well, we cannot disclose all the details, but as a way of thinking, the most of the first refund is going to game, and the rest is going to I&SS. Please understand that that is the case. That's for the second quarter. Well, the OP upward revision. A large part is the tariff impact and the positive impact of the exchange rate. That's for sure. What about the actual business? The first quarter, as you see, the fundamentals are very strong. Generally speaking, it's just the first quarter, only three months. Have we seen a major change in the forecast? Well, no. So far, it's as we forecast in May, contents, semiconductors, there is a possibility that it could go up. The second question about the semiconductor second quarter and after the demand outlook. Again, we think the mobile sensor will be the most important, Horii can give the details, please. Thank you for the question. Yes. As you understand, from the second quarter and after, there is a bit of uncertainty in the market. Therefore, we have tried to be on the conservative side to a certain extent. At this point in time, the second quarter that we're in right now, rather than that, the second half of the third quarter and fourth quarter has included more risk. For the second quarter, we will continue to see that the numbers will be positive. That is our forecast. About the memory cost increase, how we consider this, the mobile is as you say, for other categories, likewise, to a certain extent, it will have an impact on the final product market. We are taking this into account, it's difficult to say things in general, for commercial products, we think that it will be around 10% impact on the demand. That is all. Thank you. Thank you. Can you give a total for just the first quarter, the refund? About 70% of the refund took place in the first quarter. Of the JPY 80 billion, about 70% took place in the first quarter. Yes. Thank you. Aida-san, thank you. Well, it is time to close the Sony Group's first quarter results briefing. Thank you very much for your attendance today.