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I would like to briefly touch on the factors of downward revision to our second half operating income forecast, 8 billion yen, which initially was 18 billion yen.

Exchange losses are expected to total 7 billion yen. This is based on our assumption that the yen will appreciate further against the US dollar, Euro and Canadian dollar. Specifically, we expect the yen to appreciate against the dollar by a further three yen, from 90 yen to 87 yen, which will lead to a loss of 5.1 billion yen, against the Euro by a further 10 yen from 120 yen to 110 yen, contributing a loss of 1.6 billion yen, and against the Canadian dollar by a further two yen, from 85 yen to 83 yen, resulting in a loss of 0.3 billion yen.

In terms of materials costs, we also expect a negative 3 billion yen impact from an increase in steel prices at FHI.