I am Akihiro Seo from IHI. I am a Managing Executive Officer and General Manager of Human Resources Division. Once again, I would like to thank all of you for spending time to attend our business area briefing. Thank you very much indeed. Today, I would like to talk about IHI Group ESG management. I will be explaining about our ESG management, but for example, there is disclosure of non-financial information, and we are carrying out various activities towards this end. But rather than explaining each and every one of these items, I would like to talk about how the IHI Group sees ESG, and how this is reflected in our management policies, how it is positioned within our policies, and how it contributes to enhancing our corporate value. These are the things, that we would like to explain, and explain about our assumptions in our policies. So, in regards to these, we would like to welcome you, your comments, and, we would like to engage in dialogue with all our stakeholders. Thank you. Thank you very much. Next page, please. And what's written here, and also, what we're going to present here. It does not describe anything special. And, please try to instead, try to understand the background, why we came, to hold these positions. Well, this sheet talks about our management philosophy and also our vision. As IHI Group, this remains unchanged, both the management philosophy and the group's, vision. And, President Ide has already explained this, when he explained about Project Change. Now, you might question why this is so. When we were putting together the ESG management and thinking about our group's vision, we came to understand that we, need to seek for business opportunities in trying to resolve social issues. We were able to reaffirm this during this discussion. And this year, we're commemorating our 170th anniversary. And companies like us, ever since our inception, we have tried to, with our technology, contributed to, bringing about solutions to societal issues. This has been our history, and today, when we discuss ESG, again, we want to try to focus on coming up with solutions, to social issues, and try to seek for business opportunities in doing so. This remains unchanged. But, these social issues is not just a pure pursuit of economic rationality. This is what ESG is telling us today in this world. Therefore, President Ide has come up with this vision, "A society in which nature and technology are in harmony." We try to seek business opportunities coming up with solutions to society, and we want to try to seek for harmony between technology and nature, and that is the behind this group vision. Now, trying to seek business opportunities and trying to resolve social issues. We believe that this also contributes to enhancing corporate value. We have discussed how this can be done in trying to enhance our corporate competitiveness, and this was what we discussed in our management policy 2023. I think you have seen this before, and this talks about our group management policy 2023. In this material, what is circled here... Well, we have ESG at the center of our management, and what corresponds are written here. What is circled, it says, "Life cycle and value chain." We are focusing on these two, and we believe that as an IHI Group, this is a group-wide competition policy that we have. In other words, we want to, in doing our business, try to come up with solutions to social issues. We have to take on a life cycle and value chain perspective. Both perspectives are needed in our business, and through that, we want to differentiate ourselves from others. Well, as for the specifics, I will explain about them in the later slides. But if I may add, as IHI Group, our strategy, well, I regret to say, that, among the reason for being called conglomerate discount, we were not able to clearly spell this out. That is my understanding. And therefore, each of the business, we call them SBUs, each have respective business strategies. But we, on a corporate strategy basis, the direction that we want to head towards through our corporate strategy was not set out clearly in the past, and, therefore, when it comes to portfolio management and others, we were not able to set out a clear direction towards the future. But, because we have life cycle and value chain, these two perspectives, in thinking about the growth of our business, so we were able to clearly spell this out. Based on this, in our business policy, we have in not only the growth business and development-focused business, a clear policy. We have a core business, and we try to seek whether we can seek for business through both the value chain as well as the life cycle perspective. Also, moving on to the next topic. What I've just explained was the strategic positioning. Next slide, please. The next slide here, it talks about within the ESG management, the material issues, the priority issues, ESG, and they are listed here. We have the major initiatives listed, but the meaning of this is something I would like to elaborate on. Our corporate group, IHI, we are seeking for business opportunities and coming up with solutions to social issues. And in doing so, currently, we believe that one of the major social issues, and also, the area where there is need for various solutions, are tackling climate change. I think we can safely say climate change is such an issue, and we need to come up with measures to address climate change. And to what extent we can come up with solutions is going to be a key to enhancing our corporate value. As for IHI, we believe that mitigating, I mean, climate change to reduce the emission of GHG, mitigation alone is not enough. We think we also have to think about adaptation. So, try to adapt physically to the actual climate change occurring. For example, disaster prevention or reduction. We believe that such things as are possible, and we think that this is one of the big strengths of IHI. Well, of course, our business, we have models that are emitting GHG. We want to reduce the emission, and we recommend to our Scope three, not just reducing Scope one and two, but three. We believe that this is the activity that needs to be carried out. But meanwhile, at the same time, looking at what is happening in the world today, physically, climate change needs to be adapted too, because society will not be viable going forward. This is already happening today. Therefore, to try to address these issues, and coming up with solutions will be a major challenge for our company. At the same time, trying to address E, environment, means that the people living there and the people who are related will be protected, or the business development that we do will have less impact. That is what is wanted, and that is leads us to S and human rights. Well, our business, in various ways, is related to human rights and also the biological species rights. We don't want to have a solution which has brings about trade-offs. We are trying to come up with solutions to E, meaning that in relation to that, those people or living beings that are dependent on the environment will also have to be addressed. Therefore, we believe that one of the characteristics of our business is that we are dual-phased. In other words, we have to address both E and S. And another characteristic under S is that our activities, well, naturally, we are not working as a standalone company. In those countries which are trying to develop, there are different projects being carried out, be it disaster mitigation and others. There are a variety of people who are engaged with such projects, and we need to engage with such diverse people. This is fundamental to our business, meaning that we ourselves try to think about the interests of these diverse people, because if not, we will not be able to come up with the appropriate solutions. Therefore, we are also focused on building diverse and inclusive workforce, so that within not only within our company, but also with people outside. We want to build an ecosystem or partnership, and we want to work with such people and let them think freely, so as together we can come up with solutions. But this, at the same time, as I said at the beginning, means that people with different interests will be engaged. And unless we engage with those, such people with different interests, we will not be able to come up with the appropriate solutions, and we'll not be able to understand what is a competitive edge. And it says, stakeholder here, but we need to engage with different stakeholders and secure not only their trust, but also obtain information from them and integrate such information. That will also be very important. In other words, as a second perspective, what I'm saying about ESG is that for IHI group, this is, on the one hand, a strategic behavior, and at the same time, we have to directly work to enhance our corporate value. And this is something I would like to emphasize. Next sheet, please. Having said that, I believe that was the main topic of this briefing. In other words, in mid-term management policy, we have this policy that we'll be heading towards strategically, and we will have to implement a human resources strategy in this process. And the other is what we call ESG, and the non-financial disclosure. And we need to understand that this is our core strategy. So having said that, I would like to move on to some specific examples to add to what I've already mentioned. As I said earlier, as a future strategy, we'll focus on value chain and life cycle. Next sheet, please. And here, we talk about the aviation transportation segment, civil aero engines. And this is a life cycle area that we have been focusing on, and this will remain unchanged. The business structure will remain unchanged. But going forward, as it says, we want to pursue the innovative engines and revolutionary aircrafts, and think about the life cycle requirements. These systems or transportation systems or biofuel included, we have to think about the overall value chain, and think about what be necessary for us to contribute to this value chain, and think about our own capability. I would like to talk about this more specifically when I talk about human resources strategy later on. This is about ammonia. Ammonia. Well, in various places, we are carrying out different activities. One major point is that looking at the whole value chain, we want not only to produce and supply equipment, but instead this ammonia. We need to create a market for ammonia. And therefore, as it says, so we have this fuel manufacturing project in mind, so that ammonia can be distributed and the market be created for ammonia. Next. And this is our core business, and how we want to embed and evolve our lifecycle business. Well, in various ways, we, for our core business, have been taking up a lifecycle business. But I said, as the value chain on the whole, we have to look at what we need to do. It's not just IHI's value chain, but the customer's value chains. We want to take on that perspective and think about what we need to do. Next sheet, please. And one example is this in energy. We looked at all the value chains and looked at not just the power generation equipment, but value chain on the whole, the carbon neutral value chain. So chemical and other things will have to be looked into. We want to shift to such things and change our portfolio. And this is what is described on this page. Now, for your reference, I'm showing this. Other than business activities that I have explained, in the group and within the facilities, there are emissions, and we need to reduce emissions. Here, as products and services, we are providing services and products, including these, GHG emission reduction, and we will be introducing new things to realize the carbon neutrality. Can you skip some pages? Page 15. Earlier, in the management policy, I talked about life cycle and value chain, and change in the strategies. Such transformation will be done, I explained, in each business. The key points I would like to touch upon, I have touched upon them briefly. So for human resources, human capital strategy, the keys are here. First, organizationally, the area where we do not have sufficient knowledge, we have to acquire such knowledge, and it will be internalized. For example, ammonia value chain or fuel project. We have to obtain knowledge from our side, and internalize, and run as a business. These activities at IHI, we have been focusing upon doing this in-house, but with a big change, we have to have the exchange of human resources with outside world, and we are focusing upon that. Fortunately, at the beginning, we thought that this was going to be a big challenge, but fortunately, IHI, as we face social challenges, and that's the content of social challenges, the points that I have explained need to be explained to the external world, and then there are many applicants. We receive more applicants than before, and we are feeling that it is working well. Furthermore, in the energy business area, I have explained as well, but resource shift needs to be done. In other words, we should be taking the deed for the business transformation, and the big change and shift of the human resources are needed. Currently, for this, a management policy and human resources policy is to be understood, and we are conducting workshops on an organization basis. For 11,000 people, as of the 26th of September, we have completed these workshops. Including overseas operations, 30,000 employees, we are providing such opportunities of workshop. Lastly, this should not be temporary work, so as written under number three, we, the evaluation of human resources and shifting people, new management, and the managerial people needs to be developed to do that. And also, vis-à-vis the change of the company, the relationship between the company and employees should be good, so engagement and wellbeing, we'll be focusing upon this. These are the three major priority measures. Going back to page 12. Now, in this background, about the human rights, as I explained earlier, not only the employees, but partners who are engaged in the activities as well, we are respecting human rights, and we'll be responding as shown on this graph. Lastly, I'm skipping some pages because of paucity of time. For this part, as I explained, in this way, we explain our activities so that people will have good understanding, and based upon the understanding, we receive comments from the stakeholders. For us, this will result in increased business opportunities, and based upon that, we are conducting these activities. Of course, governance is important, and we are fully aware of that. And for this, the dialogue with our stakeholders, we are focusing upon that. Next sheet, please. What is shown here, our engagement with stakeholders under number three. Insights from the stakeholders will be incorporated into the management, which will lead to the expansion of the business opportunities and strengthening of governance. Page 18, please. This is just by way of example, the response to climate change, UNDP. With them, we are having dialogue and engagement. How we can reduce and prevent disasters, not only in Japan, but in other countries. How we can look at this as a business opportunity, as business, and conduct the activities to reduce and prevent the disasters. We are actively having engagement and dialogue with such organizations as the United Nations organization. And then supply chain and human rights. Rare metals and rare minerals, we are respecting human rights as well. ...So about ESG, I have explained, and, I did not explain the small, the detailed numbers, but, ESG for IHI is an important part of our business strategy. Based upon that, strategy is very clear with the management strategy 2023. Human resources who create value, and we are conducting activities along that line. These will be the two sides of the coin, and, result in increased enterprise value and, increase the value of the human resources. That is our philosophy for conducting these ESG management activities. This concludes my presentation. I thank you very much for your attention. As reported on September 12, a subsidiary of our company has been subjected to an on-site investigation by the Japan Fair Trade Commission for suspected violation of the anti-monopoly law in connection with our parking system business. We take the matter seriously and are fully cooperating with the investigation. We would like to, first of all, apologize for all the concern and inconvenience caused. In regards to this issue, it is still under investigation, so allow me to refrain from making any comments on this issue. Next, please. These are the points I would like to cover today. There are three. First, process for achieving FY 2025 performance targets. two, the measures to maximize cash from vehicular turbochargers, our biggest business. And three, the growth strategies in priority core businesses. Next. Now, this is a summary of what I'll be covering. Well, IHI Group's direction, that is, resolving social issues, is at our center, and we would like to address, decarbonization and reduction of environmental impact, as well as automation and labor saving, which are, the major social issues facing industries. We would like to base this, and build our business from here. And, as for the vehicle, vehicular turbochargers, we want to maximize cash. And as for the industrial machines, rotating machinery, and thermal and surface treatment, these are positioned as the two growth pillars. And, we would like to promote, embed, and evolve life cycle businesses so as to boost our profitability. Next. This talks about, our business area overall, and revenue, FY 2022 was JPY 436.5 billion. Our business, based on its characteristic, are classified as a gas handling, including vehicular turbochargers, rotating machinery and materials and processes, thermal and surface treatment, and logistics. So these are the three major domains that we are carrying out a business on. Next. This is the business environment, the outside environment. On the left, as I said, there are growing needs, industrial needs for such as societal environmental changes, as well as the decline in workforce. We take this as a business opportunity. And on the right-hand side, we believe that this will lead to growth initiatives, decarbonization, automation, and LCB expansion. Next. This is the growth story of business area earnings. And so it talks about the two industrial systems overall and vehicular turbochargers. I would like to explain the measures that will be taken for each, and we have the pages listed here. In FY 2025, we want to achieve a revenue of JPY 500 billion, and we want to try to achieve that through various measures. This is FY 2025, the operating profit, and how we can try to improve our profitability. This figure illustrates improvement in profitability, industrial systems and life cycle business, vehicle, vehicular turbochargers, industrial system, and product business. In FY 2022, especially when it comes to the improvement of profitability, on the negative side, there was a significant effects that impacted us. First, there's a slow automobile production recovery and the soaring materials and equipment, energy, and labor costs. These two were the major impacts. And the last is, electrical component and other supply shortages. And And this has an impact on, automobile production, and also, industrial systems are also hard hit by these factors. In order to improve profitability, we have listed here various things, and, please focus on the red area above. In 2021, we see that it was more or less a break even, but, in 2022, there was a major decline in our industrial systems and products business. And, this was because of the cost soaring and, not being able to reflect this in our prices. The biggest measure is to try to have our customers recognize the value of our products and to reflect costs in prices, so as to return to profitability. Next is the life cycle, embedded and also evolution, which is described in blue, and this area that we want to grow. And, third, it will come up later, but, the automobile production is expected to improve moderately, and, therefore, we want to be able to improve the profitability of our turbochargers, including our sales price. And, the major developments, first about the turbocharger business. Vehicle and turbochargers, and this shows the overall situation. North America, China, Thailand, Europe, we have this global network, and based, doing our business based on this. And last year, cumulative total was 100 million units, and our share is, as described here. Global share is 20%+. Next. And, this talks about the market trends of vehicular turbochargers. The transition in the passenger car production on the left. And, for each of the engine systems, we have the breakdown on the right. There was a dive due to the pandemic, and then due to shortage of semiconductors, the recovery was slow. There are three lines described, but it shows that recovery is slow. Meanwhile, looking at the current situation included, we are seeing a moderate recovery, and, currently, we are thinking that it will be like the solid line that appears on the left. Meanwhile, on the right-hand side, looking at the powertrain, by powertrain, battery vehicles is the orange part. And this, and heading towards 2030 and beyond, it will increase significantly. We don't think this trend will change, but it's not illustrated here, but by region, we think that there will be various differences, and we think that this situation will become more significant going forward. And the hybrid and it. And this part here this is the review of the internal combustion engine, and we believe that this is increasing in Europe, and a turbocharger will continue to be installed on some of these, and therefore, this will determine the trend. Next. Well, I showed you the overview of the market trend and the orders received. We added all these together, and from 2023 to 2025, we see that there will be a moderate recovery. We're expecting a moderate recovery. And by 2025, it will be about a 7 billion-unit global production. That is our current estimate. Next. Now, having given you the market trend, this is measures to be taken, because of the material cost increase, we need to pass on this cost to our prices. And as it says, Japanese OEMs in North America, and plug-in hybrid, hybrid installation, these are the areas that we want to work on. And in terms of after-sale service, we're doing this globally, but mainly in Southeast Asia, we want to expand our service network. And lastly, optimize resources. We want to try to develop fuel cell electric turbochargers for the future. So we want to make various shifts. Depending on the regional trends, and we want to review the scale of resources at each site. As we look into the future, we make the electric turbochargers commercialization launch. From 2030, there will be a significant increase in fuel cell electric vehicles. And indispensable for that, the electric turbocharger is needed. Already in 2018, in Europe, we have supplied this to be mounted, and we are going to increase the sales, and the menu of products are to be increased. And with AVL, the largest player, we entered into agreement, and we are conducting development... And this will lead to the future, and we are going to make sure that this will happen. Next page, please. From now on, the priority core businesses, and for each of the business, I would like to explain the business and the direction. Rotating machinery business. Compressors is the main business. General purpose, compressors, process gas compressors and, and the separators are the major ones. Last year, the revenue was JPY 60 billion, and in the future, we are going to increase this to more than JPY 100 billion. Next page, please. Compressors, we have a general purpose, compressors, left bottom, mainly, compressing air and, is to be used in various industries. And the other one is, process gas compressors. For various industry use, process gas is to be handled. CAGR is written here, especially the, top one, process gas compressors. We, we will realize, higher growth, especially energy industry, as the material is, shifting from solid to, to liquid, and, also, CO2 is to be utilized. So energy industry is to handle gas. Such engineering is needed going forward, and therefore, this is indispensable key device. Up until 2030, CAGR 5.8% from FY 2030, double-digit growth is expected, and we will be capturing the business opportunity as this market grows. Next page, please. This is ammonia value chain, and the compressors will become the key device in the ammonia value chain. Here, from various perspectives, as a group, we look at the value chain, and we are going to enter into various parts of the value chain, and the strength of the key device is to be enjoyed by the group as a whole. Next page, please. Another business is heat treatment and surface engineering business. For various materials, the heat treatment and the surface engineering is conducted to add values and strengthen functions. You do not see the product itself, but, on various, parts, this technology is used on a global scale. This will lead to the value of the business. For example, heat treatment, you see, the, gears. In the past, it was, hardening the material to enhance the performance of gear and to extend the life of the gears. But as written on the right-hand side, surface engineering, the application scope is expanding significantly. For example, decoration and special abrasion resistance is needed and others. There are a number of examples written here, aviation and other areas. So the technology here, will determine the overall performance of the product. This is a key technology, and we take this as a business opportunity for us. Next page, please. The, business of, heat treatment and surface engineering, there are mainly two businesses. As a machine industry, we are doing equipment sales. Equipment is to be sold to the customers for their use, and, the companies that we have acquired, with a global network, using that, we are conducting processing services as well. That is a unique characteristic of our ours. Last fiscal year, the revenue was slightly shy of JPY 50 billion. For this, this business, globally, this will grow to a level which is close to JPY 100 billion, and we are going to take measures to reach that. Next page, please. A number of, industrial sectors, segments, this is used. The focus area segment is written here, medical care. This is related to our application as well, aviation space, and the other one is decorative area. In these segments, we are going to realize growth. Equipment and progress processing services, we have quadrants. The surface engineering will grow most, and we are going to focus upon that. As read on the left-hand side, the growth business and development-focused business, and the key... One of the key technologies, we are going to utilize this internally. Next page, please. This is one example. For fuel cell vehicles from OEMs, we have received many inquiries, and plural orders have been already placed. This is, it's separator, which is placed inside the fuel cell and to prevent the corrosion and surface treatment, we have the global only one technology. And using this as a core and for the fuel cell, we are going to grow significantly using this as our technology. Next pillar, which is supporting our segment, which is the embedding and evolving lifecycle businesses. For the embedding, not only our products, but we'll be expanding the scope of our activities, so capturing our other company's products and using, focusing on our overall operation as well. In terms of evolution, the decarbonization and show the saving labor, not only our equipment. For the customers, we are to provide solutions and create new values, as written at the bottom. Digitally connected with the customers, so that this will become a pillar of growth going forward. Next page, please. Along with that, the three examples are shown from three businesses. Implementation examples, the logistics and industrial system. The issue of 2024 problem, and employees for logistics are short and very unique AGV. On the right-hand side, you can see the running cab, the cartridge go up the shelf and pick up things. This is unique, and this is to be controlled. The second one, transportation machine. Crane, operating crane, the operator of the cranes, and the automation can be done. Significant automation can be done for the operation of crane. The parking at the bottom, parking business itself is to be turned into operations and management business, and the lifetime earnings is to be maximized together with the owner. So through these initiatives, next slide. As written here, our vision, we will be realizing the vision, and we will be realizing the earnings target for the future. This concludes my presentation. Thank you for your attention. I am Kouji Takeda, Managing Executive Officer and President of Resources, Energy and Environment Business Area. These are the points I will be covering today. First, I'll talk about our business area outline, and then I will talk about the business environment. Lastly, I will talk about the initiatives we are taking in. This page is the energy domain area positioned in the policy for 2023, and create a carbon neutral future is our domain vision. We want to provide new solutions to society, and effectively use our existing assets so as to promote decarbonization with our customers. In our midterm management plan, our core businesses are positioned as carbon solutions, power systems, nuclear energy, the ones that are listed on the left. That is, the power plants, the thermal power plants, process plants, amongst of, and, and meanwhile, the development-focused business areas are ammonia utilization, devices, equipment, carbon recycling, methanation, and, power system, ammonia-fired engines. On the right-hand side, we talk about the four segments and the sales composition by each product. The overall revenue is JPY 371.3 billion. About 40% is carbon solutions, and at the outer ring, blue part represents carbon solutions. Remaining 60% are occupied by the other three key components, so they're equally divided amongst the three. The power system, nuclear energy, Asia EPC, are about 20% each. For each businesses, the new build or main equipment and lifecycle ratio are given, for each of them, in the inner circle. The new is blue, and the lifecycle is blue. The strength of our business... I'm sorry, this is a very small print, but robust engineering capability for large structures. And also, for the power systems, on land, we have a long, ample experience, and also, we have experience in commercializing ammonia utilization, methanation, and other carbon-neutral technologies. Meanwhile, the risks, especially, the coal-fired power, this, thermal power generation business will shrink, and, there'll be, competition intensifying in emerging economies, and, the nuclear power... Opposition is rising, and so and also there is the environmental regulations for ships that will be deployed early on. So, this the risk can be also interpreted as opportunities, opportunities for us to expand our business. This page talks about the business environment. IEA for each area, it talks about the decarbonization of CO2 reduction scenario, zero emission scenario. And the earliest scenario is what is shown here. At the middle of the graph here, the blue part is electrical and heat, yellow is industry, and orange is transport. And at the top, the green is buildings. For each from 2020 it shows the CO2 emissions and how it will trend moving towards 2050. The reduction is shown here. And underneath we have boxes. It's a very busy table, but the boxes show for each timing what measures will be taken to realize CO2 emission reduction. It's both global and Japan. I will not read out each one of them, but in looking at 2030, electric power and transportation, these are the leading areas which will realize decarbonization. And in the boxes, it talks about EV new cars. EV cars will account for 60% of new car sales. And then looking at 2040, this will be the industry. This will expand to industry in 2050. For all segments, decarbonization will be realized. This is what IEA is thinking, and we at IHI have to think about what we need to do to comply with this trend. This page here, it talks about the group management policy 2023, and what we are wanting to do in the energy sector. What's important is what's shown at the bottom. Carbon solutions, power systems, Asia EPC, and nuclear energy. There are these four business units, and for each, heading towards carbon neutral in the transition period by 2030, what they are going to do. We believe that this is very important, and that is shown in the gray hatched box. First, at the top is LCB. So, with embedded and evolution, we want to try to secure the funding for investment. And dual fuel, ammonia-ready, is what we want to realize, and along with that, the resources that will be reviewed. That is the type of activities that will take place during the transition period, so that at the age of transformation in 2035 and after, the industry and transport and electric power we will be able to head towards carbon neutrality. Next, this page shows about the overall portfolio of resources, energy, environment, business area. On the left-hand side, we show in leading up to 2030 what our business balance will be, the business portfolio. As I said, coal-fired thermal it will be shrinking, and therefore the main facilities and new builds that will be declining. What's important is what is above the LCB, and whether or not we can earn a profit with LCB, and ammonia, and hydrogen, and carbon neutrality projects. We about JPY 50 billion scale want to try to expand our business to that level by 2030. That is the challenge that we are faced with. What's important here is the LCB. On the right-hand side here, we show you the graph, where we give you the details. In the next three years, for each SBU, LCB, lifecycle business, will show a revenue of about JPY 200 billion. That is our plan. If we could earn JPY 200 billion, then the profit can be invested for future carbon neutral businesses. Furthermore, we have numbered them one, two, three in circles. They are ranked as such. It shows how difficult it will be to achieve these goals, and based on that, the action plan has been put together. This shows the LCB classification based on how difficult it will be to achieve. On the left-hand side, upper side, we have the existing lifecycle businesses, and as in the past, we want to fully implement this, but regretfully, the carbon thermal asset investment will be declining, and therefore, life cycle business needs to be embedded. We want to further realize embedding of our life cycle business and put in place the necessary skills, and not just our own products, but other companies' products or the equipment before and after equipment needs to see life cycle business expand. That's the pink bar. On the right-hand side, the number three, this is the evolution part. And, this, unlike the past, we want to, try to approach, create customer value, through new technologies and approaches. These are the three steps we want to take, and, for each, we have action plans in place. Next. So, given the business environment, how are each of these businesses working? And I'd like to talk about the activities. First, is the Carbon solutions business, where we're seeing the largest amount of changes take place. At left-hand bottom, and we have this graph again, and this business, we believe, because it was dependent on coal-fired power generation, we see that the new builds are declining significantly. LCB, because of embedding and evolution, we want to try to hold out and to use that money for the ammonia and carbon neutral new business. We need to bring about significant transformation in this business unit. What we're doing right now is shown on the right-hand side, blue box, engineering organization transformation, and also transforming the production sites. For each, we have a working team and doing the activities. This is a related company in Singapore, Jurong Engineering Limited, JEL as abbreviated. This group is responsible for Asia EPC business. Looking at the global map on the right, Southeast Asia, this is a main area, market. This EPC or construction business is the focus. And last year, we received a lot of orders, and we believe that the revenue will increase. And India, in the middle, we have the Indian market. Ammonia. And we are starting collaboration with Adani project. And in the middle, there's Middle East, with Kuwait, we are replacing boiler of other company, another company, so we are engaged in such initiatives. And Africa on the left, and Northern Africa and Mozambique, a gas turbine and a coal-fired power generation plants. We have those existing plants where we're doing maintenance, expanding our maintenance work. So especially on the right-hand side, the gas-fired EPC in Asia is growing. Such skills and the experience, we want to leverage those skills. If we have ammonia only in Japan, we want to be able to transition this smoothly to the Asian market. Now, the third business is power systems business. As you can see in the waterfall chart at the bottom, FY 2022, this business was in red ink, about minus JPY 2 billion. But with the business structure transformation is underway, and transferring, passing the through of the material cost and reducing SG&A expenses, and we are now able to generate JPY 5 billion of Operating Profit, and we are undergoing transformation. As you can see in the box on the right-hand side, as we move toward carbon neutrality, reciprocating engine is an important content. With reciprocating engine, ammonia can be used as fuel, and we have already started that initiative. This page shows the nuclear energy business. Nuclear energy business, the restart of the light water reactor, and in Rokkasho-mura, therefore, restart of the Rokkasho in 2022, lots of construction work underway, and the sales and the profit-wise, considerable sales and profit was generated. As you can see on the graph on the left-hand side, peaked in 2022, and especially FY 2024 and FY 2025, it is a sort of the gap in terms of increase of sales and profit. We have to conduct activities so that we can fill the gap. From FY 2025 onwards, as we move toward FY 2030, once again, the restart of light water reactor and also decontamination and decommission work continues. Therefore, the sales will start to go up. In terms of revenue, this is a stable business. But as you can see at the bottom, partnership, we are expanding partnership. As there are ups and downs in the operations, by joining hands with other companies, for the operators, engineers, and we are going to fill the gap and also cater to the increased needs during the peak period. We are focusing also upon the following. With NuScale of the United States, we invest into NuScale and SMR, small modular reactor projects, we are engaged in that. And in the latter half of 2020s, the operation, it will start in the United States. That's our aim, and we will start the building the reactor. Furthermore, if I'm to add one more point, in October last year with TEPCO in Fukushima, the engineering company for decontamination and decommissioning was started in Fukushima, and 40-50 years of decommissioning work is needed, and we are going to squarely address the decommissioning work in Fukushima. Next page. This shows the sales and Operating Profit of this business. In FY 2022, as you can see, the line graph, in terms of segment, JPY 26 billion of Operating Profit was generated. FY 2023, about the same level as 2022. As we move toward 2025, we are formulating strategy for growth, and in FY 2025, we are aiming for the Operating Profit exceeding JPY 30 billion. Sales, the gray one, JEL Asia EPC, the orders were robust in FY 2022, so this will increase. On the other hand, nuclear energy, as I mentioned, it peaked in 2022, and this is declining slightly. But as we move toward 2030, we can expect growth, and the power system is flat and carbon solutions. The thermal power business will go down, but conversion of fuel to ammonia, and we will be able to see growth in sales. This one shows OP, Operating Profit, how we are to secure the Operating Profit, and this is a waterfall graph. As I said, FY 2022 robust nuclear power business JPY 26.2 billion of Operating Profit was generated. LCB, lifecycle business, by expanding lifecycle business, about JPY 6 billion can be added. On the other hand, the nuclear power was good in FY 2022, and this will go down by JPY 5 billion. The power system, which was in red ink, structural reform will be conducted, and with JEL, the business will be expanded, which will result in increased profit. So, JPY 31 billion of Operating Profit can be achieved in FY 2025. Next page, please. From this page onwards, we will look into the future and initiatives for the future. We know what we are going to do now, but what about the future? IHI's Midterm Business Plan 2023, and this is excerpt from that business plan. The clean energy area, especially in the ammonia value chain, we'll be focusing upon ammonia value chain. And the storage, transportation, and downstream of the value chain, a number of killer contents are there in the downstream, so we will be utilizing the killer contents and increase the demand for ammonia. One example, our scope of business. As you can see in the drawing, the red line, in the red line box, that is the scope of our business in our segment. And the products that we have, the killer components are shown with the box in red dotted line. Utilization, especially boiler, ammonia, the firing, 20% firing demonstration, starting from this end of this year at JERA site, and gas turbine. 100% ammonia combustion is done. Also, jointly with GE, we are conducting joint research and development for commercialization in FY 2030. Next page, please. Ammonia, I would like to explain our strategy more in details. In the graph, in the chart in the middle, going from bottom to the top, you can see from transition to transformation. We evolve from transition to transformation. As I said, end of 2030, 20% ammonia mix firing will start. And if this goes well, then 20% will be commercialized, and also more than 50% mix firing. From other electric power companies, there are inquiries, and we are going to start installation. And the ammonia needed for combustion will be transported and will have to be stored. So in the middle, you can see ammonia storage and infrastructure development is needed. And by modifying the coal-fired plants, we are going to do that. Going forward, from 2040 onwards, in terms of the building of new power plants, not coal-fired, but a gas turbine ammonia, so mono firing. So infrastructure of ammonia will be utilized and will be connected to gas turbines. Furthermore, as written at the left bottom, we use JEL, and what we have done in Japan will be expanded to Southeast Asia. Also, gas turbine of ammonia will be incorporated from the very early stage. This page is methanation. Lots of things are written here, but already for methanation, small ones mass production of the standard unit have already started in Aioi, in Hyogo Prefecture, and using these, and also we are starting to see sales. The medium-sized facilities with JFE, carbon recycle furnace is done in the carbon neutrality in the industry. And as a GHG contents, this is being utilized already. On-site methanation, a lot of inquiries are received already. Large-sized facilities, gas companies in the gas field, LNG gas field, the methane production is done by them. And we are, we have feasibility studies conducted in several years' time. This will be realized, and this will be on stream. So first, in the carbon recycling will become the top runner in methanation. And after that, in Singapore, we are supplying olefin and SAF. So this will be connected to olefin and SAF going forward. That concludes my presentation. Thank you for your attention.