If I may, I would like to now start the TDK Corporation third quarter performance briefing for fiscal year in March 2024. Allow me to introduce the attendees. We have Tetsuji Yamanishi, Executive Vice President. Thank you. Fumio Sashida, Corporate Officer. Taro Ikushima, Corporate Officer. Thank you. Takao Tsutsui, Corporate Officer. Thank you indeed for the introduction. That's all. Thank you again for your kind attention. Well, this is Yamanishi speaking. I'd like to thank you for your precious time, despite your busy schedule, to attend our third quarter performance briefing for FY in March 2024. I'm so happy to have so many of you. If I may, now I'd like to actually, you know, go through the outline of the consolidated results. First, during the, you know, third quarter, year to date, year to date, although the global economy remained firm in North America, the economic slowdown in Europe and China, as well as the unrest surrounding the Middle East region, caused a growing sense of the economic slowing down. Furthermore, the Japanese yen continued to depreciate against the US dollar as well as, then against the euro. Under such a business environment, in the electronics market, which actually affects our business performance, in addition to the stagnant demand in the ICT and HDD markets due to the prolonged slump, the overall demand in the industrial equipment market remained weak. In the automotive market, production of xEVs and other vehicles exceeded the level of the same period of the previous year. Parts inventory and adjustment by some customers were prolonged, resulting in a lower demand for parts than we had expected at the beginning of the period. On a year-on-year basis, net sales were down 5.3%, and operating profit was down 17.5%. Looking at the sales by the business segment by market, sales of the Passive Components for the ICT and industrial equipment markets declined significantly, while sales of the Passive Components and the sensors for the automotive market increased. But the growth slowed down due to the prolonged inventory adjustments by customers. Demand in the HDD market was also significantly lower than the previous year, and sales of HDD heads and the suspensions declined sharply, but signs of improvement began to appear from the third quarter. Sales volume of small rechargeable batteries for the ICT market remained almost unchanged year-on-year, but sales decreased due to a drop in the selling prices following a decline in the market prices. Next, I'd like to go through the highlight of the Q3 year-to-date result. With FX fluctuations, net sales was up about JPY 22.5 billion. Operating profit was about JPY 17.2 billion, including that, with this the impact in place, net sales was JPY 1.597 billion and JPY 90 billion year-on-year basis, 5.3% down. Operating profit, JPY 157 billion year-on-year basis, JPY 32.9 billion, 17.5%. And, profit before tax was JPY 17.8 billion, and actually net profit attributable to owners of parent was JPY 65.3 billion. Actually, you know, earnings per share was 172.14 JPY. As for the Forex sensitivity, we estimate that, as before, the impact of one Japanese yen fluctuation against US dollar would be JPY 2 billion, and impact of one exchange vis-a-vis euro would be about JPY 600 million. Next, allow me to explain the third quarter results and on the consolidated basis. Including the impact of exchange rate fluctuations of, of approximately JPY 22.5 billion on net sales and, three point eight billion yen of operating income, net sales decreased JPY 27.7 billion, or 4.7% year-on-year, to JPY 559.3 billion, while operating profit increased JPY 1.8 billion, or 2.7% to JPY 70.2 billion. Profit before tax was JPY 76.9 billion, and net, profit attributable to owners of parent was JPY 65.3 billion, up 30.8% from the same period last year. Earnings per share amounted to JPY 172.14. I will now explain the, situation, by the segment for the first nine months of the fiscal year. Net sales of Passive Components were JPY 427.1 billion, down 3.2% year-on-year basis. Although the sales grew in the automotive market, mainly for xEVs, caused by the declines in the sales for the ICT market, as well as industrial equipment market, operating profit was JPY 50.2 billion, down 37%.... Although sales into the automotive market increased in all businesses, the performance of each business segment varied due to the ups and downs of orders received in each market and each application. Though, we were able to secure the growth in the sales in the ceramic capacitors due to the increased sales, particularly in the automotive market, but earnings declined due to the deteriorated product mix and other factors. While our sales and the profit of aluminum electrolytic capacitors and the film capacitors decreased due to slowdown in demand in the industrial equipment market. Sales and profits of inductor devices and piezoelectric material components, and the circuit protection components declined due to decreased demand from the industrial equipment market, as well as the ICT market, and also from the consumer electronics and the gaming markets. Next, the Sensor Application Products business. Net sales being 135.3 billion JPY, up 3.6% year-on-year, and operating profit was 9.8 billion JPY, down 23.2%. Sales and the profits of temperature and pressure sensors increased due to higher sales into the automotive industry, despite lower sales to the industrial equipment market and consumer electronics. Sales and the profits of magnetic sensors increased due to higher sales of Hall sensors to the automotive industry and the strong sales of TMR sensors for smartphones. On the other hand, the sales and the profits of MEMS sensors decreased due to lower sales in the ICT market and the industrial equipment, although the sales of motion sensors to the automotive industry expanded. Next, into the Magnetic Application Products. Net sales were JPY 132.4 billion, down 15.9% year-on-year, and operating profit was a loss of JPY 26.2 billion. In HDD heads and suspensions, the continued sluggish demand for HDDs resulted in a 24% year-on-year decline in total HDD demand, and in particular, a 35% decline in total nearline HDD demand, which led to a significant year-on-year decline in sales volume for both heads and suspensions for HDDs. So revenue went down, and the loss became larger. Structural reforms to optimize the production systems are now being implemented as planned. We have allocated approximately JPY 1.9 billion for nine months on a cumulative basis. Sales of magnets declined due to lower sales of industrial equipment, and then, deficit increased slightly due to the delayed productivity improvement. Next, Energy Application Products. They recognized sales of JPY 883.5 billion and operating income of JPY 155.3 billion, a 5.4% increase from the same period last year on sales, but on the other hand, it's the increase of 10.4% for the operating income. In the rechargeable battery business, while the sales volume of small batteries for smartphones increased, sales increased due to the lower selling price and caused by the falling material prices, and also the price discounting, and also the sales of the medium-sized batteries also decreased due to the business transfer to the JV. Despite the decline in sales, we secured an increase in operating income due to first, the increase in the sales volumes, second, streamlining effects, and the foreign exchange gains. Sales and the operating income of power supplies for industrial equipment increased due to enhanced sales to industrial equipment, such as the semiconductor manufacturing equipment and the medical equipment, in response to backlog of orders, while the loss on power supplies for EVs narrowed significantly due to the effects of structural reform and at the end of the pre-previous fiscal year, in addition to increase of the sales. Next, this is the waterfall chart representing the change of operating incomes of JPY 1.8 billion. The factors leading to this increase is, in the third quarter, include, for one thing, the decline in the volume of Passive Components, a deterioration in the product mix, and the decrease in operating capacity. But on the other hand, operating income of rechargeable batteries increased due to the boost in the sales. So the total change of the profits due to the change in the sales amounted to JPY 3.8 billion. Rationalization, cost reductions, and structural reform effects of JPY 10.8 billion almost offsets the JPY 13.7 billion decrease in profits due to change in the selling prices. SG&A expenses increased by JPY 2.5 billion due to an increase in the sales volumes of rechargeable batteries and new product developments, and restructuring costs of JPY 900 million in the previous fiscal year, and another JPY 900 million in the current fiscal year, and we recognized it concerning HDD heads. On top of that, another JPY 400 million was recognized for discontinuing the legacy products for the inductive devices. However- ... This increase was almost offset by the impact of yen depreciation of JPY 3.8 billion, and eventually resulting in an overall increase of operating income by JPY 1.8 billion. I will now explain that the factors behind the increase or decrease in the sales and operating income by segment from Q2 to Q3 of the current fiscal year. First, in the passive component segments, sales decreased by JPY 4.5 billion, or 3.1% on Q-on-Q basis from Q2, while the operating income increased by JPY 1 billion, or 5.7%. Sales and the income of a ceramic capacitor increased due to higher sales for automotive applications, while the sales and the income of aluminum film capacitors decreased due to lower demand from the industrial equipment market, and the sales of inductive devices remained almost flat due to a decrease in the sales for the industrial equipment market. However, sales to that's the automotive and ICT market increased, resulting in an increase in profit sales, and even with JPY 400 million of structural reform cost to discontinue legacy products. Sales and the earnings of high frequency components increased due to higher sales to ICT market, while the sales of piezoelectric and circuit protection components declined in all markets, resulting in a slight decrease in earnings. Next, in sensor application products, sales increased by JPY 2 billion, and operating income grew by JPY 400 million. Sales of temperature and pressure sensors increased due to an increase in sales for automotive applications, while magnetic sensors saw a slight decrease after that demand in the ICT market peaked out. But on the other hand, the sales to the automotive market increased, and both sales and operating income remained almost flat. In the MEMS sensor business, the sales volumes of motion sensors for smartphones in China, and went up and supported net sales growth. Next, in magnetic application products segment, sales increased by JPY 4.5 billion or 10%, and operating income increased by JPY 2.2 billion and reducing the loss. Sales of nearline HDDs bottomed out in Q2 and showed a sign of recovery in Q3, leading to about the 14% increase, increase in the HDD head sales volume from Q2, and approximately about 1% increase in suspension sales volume, and eventually resulting in an increase in overall head sales and reducing the loss. Restructuring the cost of JPY 900 million were recognized in both Q2 and Q3, and there was no increase or decrease. On Q-on-Q basis, sales and operating income of magnet remained almost unchanged. Next, in the energy application product segment, net sales increased by JPY 600 million, and operating income rose remarkably JPY 8.1 billion. In rechargeable batteries, sales declined due to the transfer of medium-sized batteries to the joint venture, while the sales of smaller batteries increased for smartphones in China and resulting in an overall increase in the sales and profits. Business of power supplies for industrial equipment remained steady, while the sales and profits declined in power supplies for EVs. Next, let me explain in-depth the cash flow. For the first nine months total of the current fiscal year, operating cash flow was JPY 333.3 billion. Investment cash flow, including CapEx, was JPY 147.8 billion, and free cash flow was JPY 185.5 billion. In light of the market demand situation, we have further optimized the inventories since the end of the first half, and then have also made capital investments while carefully assessing the supply and the demand. In Q4, we will continue to optimize the inventories, and we have another JPY 500 million, and then also for that state, and JPY 8 billion that's already have exceeded from the forecast. And also going into the Q4, we're going to work on optimizing the inventories and examining the capital investments. Now, I would like to explain full year forecast for the fiscal year, March 2024. First of all, I would like to explain the image of sales increase and decrease from the third quarter to the first quarter of this fiscal year. We have assumed an exchange rate of 145 JPY to the USD for the first quarter, so there will be almost no foreign exchange impact compared to Q3. As for Passive Components, sales of ceramic capacitors for the automotive market are expected to grow. On the other hand, sales of inductive devices are expected to decline due to such factors as the seasonality of demand from the ICT market, and overall passive component sales are expected to increase by ±0%-3%. In sensor application products, sales of TMR sensors are expected to decrease due to a seasonal decline in the demand from the ICT market, and the sales of MEMS motion sensors and MEMS microphones are also expected to decrease due to a decline in ICT market and as well as decline in the sales for the game consoles. It will be an 11%-8% overall decrease is expected. As for Magnetic Application Products, while the total demand for HDD is expected to decline by approximately 6%, total demand for nearline HDD is expected to increase by approximately 9%, as signs of recovery are being seen. About the 10% growth over the sales volumes of HDD head and suspension is expected. On the other hand, sales of magnets for the automotive market are expected to decline, and overall sales of Magnetic Applications are expected to increase by ±0%-3%. The Energy Application Products overall sales are expected to decline dramatically, and the sales also for that is with the transfer of the business to the joint ventures, total, 27%-24% some decline is expected. So, that's the eventual result, we expect an overall decrease of 16%-13% in this segment. Lastly, I'd like to explain our full year earnings forecast for the current fiscal year. During the nine months period, production for the electronics market as a whole remained sluggish due to the weak end market demand. On the other hand, in the second quarter of the current fiscal year, in addition to the effects of the weaker Japanese yen and the demand, this recovered in the Chinese smartphone market, resulting in higher than expected sales of small rechargeable batteries, and also, and higher expected sales of HDD heads and the suspension. As a result of all this, the 9 months total period performance exceeded the forecast announced on August 2. Based on this performance, we have revised upwardly our full year forecast for the fiscal year March 2024, from those announced on August 2, to net sales of JPY 2,090 billion, operating income of JPY 170 billion, and net income of JPY 120 billion. The first quarter forecast assumes an exchange rate of 145 JPY to the USD from that previous forecast of 130 JPY to the dollar. In addition, we expect to implement the measures to improve asset management efficiency in anticipation of future changes in the demand trends, and to recognize one-time expenses, such as restructuring the cost of approximately JPY 12 billion in the first quarter. Dividends are unchanged from the beginning of the fiscal year, and we have revised down quarterly our capital investment forecast by JPY 10 billion to JPY 230 billion after careful consideration of demand trend, including a review of the timing of the investments made. Increase depreciation and R&D expenses by JPY 10 billion for each, taking into consideration of expected cost increase, triggered by the further depreciation of the Japanese yen in the second half of the fiscal year. Thank you very much. Thank you.