(Shimizu) Our calculation of roughly ¥2.5 billion is based on the total of tariffs on products exported to the U.S. from such countries and regions as Europe, Canada, and Japan and tariffs on raw materials and other materials purchased from non-U.S. sources at our bases in the U.S. By segment, about half of the estimated impact will be felt by the HPP Company and the remaining half by the UIEP Company and Medical Business.

(Shimizu) Yes, that assumption is generally correct.

(Asano) Used in the semiconductor manufacturing process, we are witnessing a pickup in “SELFA” use as a high bandwidth memory processing material targeting the AI field. As such, I believe there is room for further sales growth. We do not envisage a downturn. As far as build-up dielectric films are concerned, efforts aimed at promoting new application continue to steadily progress despite a slight delay. Expectations are that sales will expand from FY2025 and over the medium term.

(Asano) In addition to our investment in human capital and the introduction of an SAP system, our fixed cost plans include an R&D limit of approximately ¥4 billion. We will continue to manage fixed costs in line with business conditions. Accordingly, there is scope for slight adjustments.

(Yoshida) Amid a partial delay in the market’s recovery, we plan to secure a balance of orders from the next fiscal year in a bid to ensure sustainable growth without rushing sales and undertaking outflows such as excessive payments to procure labor when trying to build a house in a hurry.

(Yoshida) The volume of construction in progress as of the end of FY2024 has increased substantially compared with a year ago. Sales plan for the 1Q of FY2025 reflect this increase.

(Hirai) While certain properties will carry over from the 4Q of FY2024 to the 1Q of FY2025, orders will flow not only into the 1Q, but also the 2Q. A more accurate understanding is that certain properties will carry over into the 1H as a whole. While we still view volumes as a little weak, especially in the non-residential sector, selling prices are expected to contribute positively to the 1H. Accordingly, we are planning a slight increase in sales in the 1H in overall terms.

(Shimizu) We are currently pursuing a variety of endeavors, including the hiring of personnel in an effort to put in place the right structure and systems. Major expenses encompass expenditures related to plant start-up as well as technology development in the leadup to 2027. For the most part, we have not factored in profits from the release of products in FY2025.

(Kato) We are projecting sales of 1-meter wide products from facilities under construction at the Company’s Sakai Plant from FY2027. For 30cm wide products, for which technology has already been established, we plan to post sales from the 2H of 2025 after prioritizing from efforts to verify various construction methods.