Thank you very much. Now it's on time, so let's get started. The performance briefing first half of fiscal year March 2023 of TDK Corporation. Let me introduce today's attendees. Mr. Noboru Saito, the President and CEO, and Mr. Tetsuji Yamanishi, Executive Vice President. Mr. Fumio Sashida, the Corporate Officer. Mr. Taro Ikushima, Corporate Officer. Mr. Takao Tsutsui. That's all. Thank you very much. I hope for your kind cooperation. Thank you very much. This is Yamanishi speaking. I would like to thank you for your precious time, despite your busy schedule, to attend our performance briefing for the first half of FY March 2023. Now allow me to go through an overview of the consolidated financial results for the first half. Major points for the business performance. In the first half of the fiscal year, while China showed signs of recovery from the lockdown caused by the spread of the new coronavirus infection, the global economy showed a slowdown, mainly in the ICT market, due to the growing concerns about an economic slowdown in the world economy caused by the heightened geopolitical risk associated with Russia's invasion of Ukraine. Although there was a slowdown in demand, mainly in the ICT market, the actual demand remained strong, and rapid depreciation of the yen contributed to a 25.5% increase in net sales and a 47.4% increase in operating profit compared to the previous year. This was the highest ever recorded on a half year basis. In the automotive market, although supply chain constraints continued, such as semiconductor supply shortages, gradual recovery was seen in China and other regions as a whole. Demand for components remained strong due to the increasing ratio of XEVs and the progress of ADAS. As a result, our sales of passive components and sensors expanded. On the other hand, in the ICT market, demand for notebook PCs and tablets, which have been strong due to the, you know, COVID-19 pandemic, slowed down significantly. Demand for data centers also slowed down sharply due to the economic slowdown and inventory adjustments in the supply chain. Demand for the smartphones was also sluggish overall, with no recovery seen in the Chinese market, but the sales of rechargeable batteries and sensors for new models from our major customers increased. These are the, you know, experiences we had in the first half. Sales of the medium-sized rechargeable batteries continued to increase, partly due to the rapid expansion of the demand for residential energy storage systems, which has been affected by the energy supply instability and the price hikes worldwide as a result of heightened geopolitical risks. Sales of power supplies for industrial equipment and passive components for use in renewable energy and energy-saving facilities are also growing. As explained so far, the demand for the components is undergoing rapid changes amid growing uncertainties about the global economic outlook. We will continue to improve sales and operating profit by firmly capturing EX demand, by expanding our business base, and expanding sales by continuing to offer distinctive DX products. Next, let me go through the highlights of the business performance. Mainly driven by the FX fluctuations into the U.S. dollar, net sales was up about JPY 164.1 billion, operating profit up about JPY 36.9 billion, making the positive profit. Net sales was JPY 1,122 billion, up JPY 227.8 billion, or up 25.5%. Operating profit was JPY 120.3 billion, up JPY 38.7 billion, or up 47.4% year-on-year. Profit before tax was JPY 119.9 billion. Net profit was JPY 87 billion. Earnings per share was JPY 229.39. As for the FX sensitivity, due to the rapid depreciation of the yen and the euro to the dollar, as well as due to the change in the earnings structure, with 1 yen fluctuation, it was about JPY 2 billion per year vis-à-vis the US dollar, and it was about JPY 600 million to the euro. The sensitivity has increased since the first quarter. I will now explain the situation by segment for the first half of the fiscal year. Passive components were JPY 294.3 billion in sales, up 17.8% year-on-year. Automotive markets, in particular xEVs and ADAS components, continued to be firm in demand. Demand for industrial equipment was firm, particularly for renewable energy and production facilities. In the meantime, in the ICT market, due to the declined demand for smartphones, except for the high frequency in the components with the higher ratio in the smartphone, yes, it suffered, but all the other businesses enjoyed growth both in revenue and in profit. Particularly, MLCC is continuing its full production, and thanks to the improved product mixture, profitability has improved sharply. Next, in the Sensor Application Products business, net sales was JPY 84.9 billion, a significant increase of 42.7% year-on-year. Operating profit was JPY 7.1 billion, a significant improvement from the previous year's loss due to the effect of significantly improved earnings. Net sales and operating profit of the temperature and pressure sensors decreased due to the supply chain restrictions on the automotive parts caused by the problems in Russia and Ukraine, which resulted in decline in orders, mainly from European automotive manufacturers. On the other hand, sales of Hall sensors for smartphones expanded in addition to the automotive market. Sales of TMR sensors for smartphones increased significantly due to the increased adoption in addition to the steady sales for the automotive market, resulting in the significant increase in overall profit for magnetic sensors. Sales of MEMS sensors increased even in the ICT market, where demand has been somewhat sluggish. Sales to the automobile market, game machines, and industrial equipment such as drones also increased due to the expansion of customer base and applications. Next, in the Magnetic Application Products business, net sales were JPY 109.8 billion, down 12.8% year-on-year. Operating profit was a loss of JPY 2.5 billion. In the hard disk drive and head and suspension business, we had expected a further decline in demand for hard disk drives for the personal computers, while demand for the nearline hard disk drives was expected to recover from the second quarter onward. The economic slowdown and other factors, including decline in the data center investment and rapid hard disk drive inventory adjustments, all in all, resulted in the decline in sales volume for nearline hard disk drives in the first half. As a result, the sales volume of nearline hard disk drives has, in the first half, declined approximately 13% from the previous forecast, and the hard disk drive suspension volume also fell approximately 18%, resulting in a significant decrease in both sales and profits. Sales of magnets increased due to the increased sales of xEVs, and earnings improved in real terms, excluding the effect of exchange rate fluctuations, despite the ongoing deficit. In the Energy Application Products, net sales were JPY 62.4 billion, and operating profit was JPY 80.9 billion, up 38.5% and 40.1% respectively on a year-over-year basis. Sales of rechargeable batteries for mobile applications, such as smartphones, tablets, and notebooks and PCs declined, but sales of small batteries increased due in part to an improved product mix. Sales of medium-sized batteries, mainly for residential energy storage systems, expanded steadily. Sales in real terms also exceeded the level of the previous year, excluding the impact of the FX rates and the surcharges. Operating profit increased on a real basis, excluding the impact of the foreign exchange rates due to the overall cost efficiency improvements, including SG&A and expenses, and improved profitability of medium-sized batteries, despite the negative impact of the declined volume of small batteries. In power supplies for industrial equipment, demand for industrial equipment such as semiconductor manufacturing equipment remained strong, resulting in increased sales and profit. Now, do allow me to go through the details of the growth of JPY 38.7 billion in operating profit, excluding the FX impact of JPY 36.9 billion yen increase. Here, I would like to expand on the factors for the JPY 1.8 billion in profit. Although there was a JPY 5.3 billion decrease in operating profit, mainly due to a decrease in sales volume of hard disk drive heads and suspensions and impact of selling price discounts, rationalization and cost reductions, mainly in the rechargeable batteries and the passive components, as well as the effects of the structural reforms implemented in the fourth quarter of the previous fiscal year, we were able to absorb the impact of the decrease and contribute to the increase in the operating income. Although SG&A expenses increased by JPY 3 billion from the previous year, the license fee of principally JPY 4.1 billion for CATL was not recorded in the first quarter of the previous year. Thus, actual SG&A and expenses decreased, contributing to the increase in profit. Amid the uncertain demand environment, we are striving to improve profitability by enhancing management efficiency. Next, I would like to provide a summary of consolidated business results for the second quarter. Net sales increased 29% year-over-year to JPY 611.5 billion. Operating profit increased 50.5% to JPY 75.7 billion. Profit before tax was JPY 76 billion, and net profit was JPY 55.5 billion, reaching record highs in all categories on a quarterly basis. I will now explain the factors behind an increase or the decrease in sales and operating profit by segment from the first quarter to the second quarter of the current fiscal year. In the Passive Components segment, sales increased by JPY 11 billion or 7.8% from the first quarter, and operating profit was JPY 5 billion, up 20.3%. Sales increased in all the markets, mainly in the automotive and industrial equipment markets, and both sales and profits increased in all the segments. Sales of Sensor Application Products, it was up JPY 6.9 billion in sales, up 17.7%. Operating profit rose 56.7% at JPY 1.6 billion. Sales and profits of temperature and pressure sensors increased as a result of recovery in demand for automotive applications, especially in China. In magnetic sensors, both TMR sensors and Hall sensors increased due to the seasonal factors, including a large increase in new models from major customers in the second quarter, and operating profit increased despite one-time expenses related to the launch of new models in TMR. In MEMS sensors, sales of motion sensors for some smartphones in China declined, but sales of microphones increased, resulting in almost the same level of sales, while the deficit in operating income narrowed due to the increased sale of high-value added products. In the Magnetic Application Products segment, sales declined 0.8% or -JPY 400 million, and operating profit declined JPY 1.1 billion. Although we had previously forecast a 40% increase in overall hard disk drive and head sales volume in anticipation of a recovery in demand for nearline HDDs, the sharp slowdown in the demand occurred and resulted in an increase of only about 8% in sales volume. HDD assembly and sales also declined, resulting in only a slight increase in overall head sales from the first quarter. Hard disk drive, the suspension sales also declined due to a sharp drop in demand from major customers, as was the case with heads, resulting in the lower overall sales and profits. Sales of magnets increased due to the higher sales for XEVs. Next, in the Energy Application products segment, sales increased 31.6% to JPY 82.2 billion, and operating profit increased 1.9x to JPY 26.2 billion. In rechargeable batteries, where sales volume of small batteries for ICT applications remained at the same level as in the first quarter for smartphones in China. Sales increased actually for new models from the major customers, and sales of medium-sized batteries increased mainly for the residential energy and storage systems, resulting in a significant increase in overall sales. Operating profit increased significantly as a result of the structures and the cost improvements that absorbed the impact of the higher prices. Profitability of industrial and power supplies also improved significantly due to the increase in sales. This concludes our March presentation. Thank you indeed for your kind attention. Hello, I am Saito. Thank you very much for joining us today. I would like to explain our full-year earnings forecast for the fiscal year ending March 2023. To begin with, I would like to explain our consolidated earnings and the dividend forecast for the full year ending March 2023, as well as the market background as the assumption. As of April, the global economic growth rate assumed for the market forecast was revised downward to the 3.5-3.6% and further downward to 3.2% in October. While production activities showed signs of a gradual recovery from the lockdown caused by the resurgence of COVID-19 in some regions, continued geopolitical risks associated with the situation in Russia and Ukraine, and higher-than-expected pace of interest rate hikes raised concerns about the slowdown and the global economy. In light of this macroeconomic environment, we have reviewed our forecast for demand and the production volume for major devices related to our business. Based on the current order status, now we have revised our full-year sales to JPY 2.2 trillion, JPY 200 billion for operating income, JPY 200 billion for income before tax, and JPY 147 billion for net income. They are all at upward revision from the previous announcement. The exchange rate assumption for this, the second half of the fiscal year is 135 yen to both the US dollar and the euro. The company plans to pay an interim dividend of JPY 53, and the year-end dividend JPY 53, and for an annual dividend of JPY 106 as planned at the beginning of the fiscal year. The capital expenditure are reviewed based on the macroeconomic and the demand trend that remain unchanged from the beginning of the fiscal year due to the depreciation of Japanese yen. R&D expenses have been reduced from JPY 190 billion to JPY 180 billion. Depreciation expenses is expected to be JPY 210 billion. Now, I will explain the demand and the production volume for major devices, which is the assumption for the full year forecast. As for automobile production, we expect a slight increase from the forecast at the beginning of the period, taking into account an increase in xEV vehicles. Although the shortage of materials and components have eased slightly, the 84 million units is the latest forecast. On the other hand, the production of smartphones, which leads the ICT market, was expected to remain flat year-on-year at the beginning of the fiscal year. Now it's currently forecast at 1.184 billion units, down 10% from the previous fiscal year. The production of PCs and tablets has been revised downward significantly from the forecast at the beginning of the fiscal year to 205 million units, down 21% year-on-year, and 147 million units, down 11% from the year earlier for tablets. Accordingly, HDD production, which was expected to be -8% of the previous year's level at the beginning of the period, but is now expected to be further drop in demand in the PC not only for the data center, currently -36% of the previous year's level or 161 million units. Next, I will explain the projected increase and decrease in sales by segment for the third quarter. Total sales are expected to be, as I mentioned earlier, and assuming the macro environment and exchange rate assumptions explained earlier of JPY 135 to the dollar and the euro. Now we expect to be between flat to -3% from the second quarter. For passive components, although vehicle production is recovering and the demand is strong due to the shift to EVs and ADAS, we forecast -1%-4%, taking into account seasonal factors. For Sensor Application Products, taking into account the trends in the major markets, our forecast is ±0%. For Magnetic Application Products, as I explained earlier, due to that, the sluggish demand for HDD and PCs and data centers, we expect between -14% to -17%. For Energy Application Products, while the market size of the batteries is expected to remain strong, taking into account ICT market trends, our forecast is ±0%. Next, I'd like to explain the key points of the future actions and measures for each segment. First of all, with regards to passive components, as a result of the acquisition of EPCOS, the business structure reforms centered on MLCC, as well as the subsequent development investments and the sales expansion activities focused on automotive and industrial equipment. Automotive sales now account for 43% of passive components business sales and industrial equipment sales account for 30%. We believe that we have established a product portfolio that can respond to the automotive markets, especially EVs, which are expected to spread rapidly amid the trend toward a decarbonized society. As well as the renewable energy and energy-saving related markets and the system that can supply these products on a global basis. As for electrolytic capacitors, we will enhance our product competitiveness in areas such as high temperature and high voltage support. We're going to implement the investment for increase of the production capacity announced at the beginning of the fiscal year as planned, in order to respond to the increase of the demand. Also for that investment increase the production of not only certain capacitors, but also about for all this, we'd like to take advantage of all about just like capacitors and EV and ADAS, so that in order to deal with that demand for the market, we would like to invest for that, the developments and the enhance the capacity. Next. Sensor Application Products business. ICT account for 47%, and automotive 33%, and industrial equipment account for 17% respectively of sales in the Sensor Application Products business. Sales of TMR magnetic sensors increased for smartphones, and the demand is expected to further increase in the future as cameras become more highly functional in addition. In addition, TMR magnetic sensors are beginning to be used not only in smartphones, but also in an electrically powered steering system for automobiles and as angle sensors and current sensors for motors and brakes and the like. We will continue to make aggressive investments to increase production to meet the growing demand. Demand for temperature, pressure, and Hall magnetic sensors is expected to increase in line with the EVs electrification and automatic driving, and we will continue to aim for further sales expansion. We will also continue to expand our customer base and application base for MEMS motion sensors and MEMS microphones, as we did in the past. In the Magnetic Application Products business and the head business, although HDD production volume is sluggish on a short-term basis, but on the other hand, we will expand the production of MR heads and continued developments of and for the next generation technology HAMR. We will continue that with a view to business growth and medium to long-term. In addition, we will continue to work on improving the productivity in the magnet business, which is our challenging business. Finally, let me talk about Energy Application Products business and the joint venture, JV, with CATL for the medium-sized rechargeable battery business is progressing with a delay. The reason is the demand for energy storage systems for home use has been growing rapidly due to concerns about energy supply caused by the rising geopolitical risks triggered by the invasion of Russia into Ukraine. We will continue to expand the business by capturing demand for the batteries for electric motorcycles and the drones, which are expected to grow in the future. We will continue to expand the business too. Although there are growing concerns about the slowdown in the global economy in the short-term basis, but as I mentioned earlier, we will steadily implement the measures and actions I explained, and I strive to increase our corporate value over the mid-medium to long terms. That's all my presentation. Thank you very much. Thank you.