Minebea Mitsumi Inc U/Adr

I would like to explain the consolidated financial results for the first quarter of the fiscal year ending March 2026. First, regarding numerical notation, figures were previously presented in units of millions or billions of yen. Starting from Q1 of the fiscal year ending March 2026, figures will be presented in units of Billions of Yen to provide a clearer overview of financial performance The further details on this change can be found in the disclaimer on page 26. Consolidated net sales for the Q1 of FY March 2026 was up 3.2% year-on-year and down 2.1% quarter-on-quarter to total 366.9 billion yen. Averaging income 7.8% year-on-year and down 19% quarter-on-quarter to total ¥17.4 billion. Profit for the period attributable to owners or parent decreased by 17.2% year-on-year and decreased by 35.8%. A quarter-on-quarter total of 10.9 billion yen. Both net sales and operating income exceeded the budget. Quarterly, net sales hit a record high. Due to the appreciation of yen, there were negative FX impact. To be more specific, negative 13.2 billion yen on net sales, Q1Q, and minus 11.8 billion yen year-on-year. Offering income also saw a negative impact of 1.8 billion yen quarter-on-quarter and 4 billion yen year-on-year. This shows a quarterly trend in net sales operating income and OP margin. The OP margin for the first quarter was 4.8%, down 0.5% point year-on-year and down 0.9% point quarter-on-quarter. This shows a difference between the forecast as of May and actual results for net sales and operating income by business segment for the first quarter. Net sales for PT exceeded expectations due to strong performance in data center application and robust sales for automotive bearings. MLS exceeded expectation driven primarily by HDD motors and motor for automotive applications. SE significantly exceeded expectations mainly due to strong sales in mechanical components and semiconductors. AS exceeded expectations especially in access products and automotive devices. Off-return income for PT exceeded expectations primarily due to the effect of increased sales. MLS was generally in line with expectations. SE significantly exceeded expectations mainly due to strong performance in mechanical components and semiconductors. AS was above expectations. This slide shows the quarterly trend of precision technologies segment left The graph shows quarterly sales trend and right bar graph shows operating income and line graph shows OP margin. First quarter net sales decreased 2.9% Q on Q to total ¥60.8 billion. Sales of ball bearings were down 1.2% quarter on quarter. to total 43.6 billion yen. The monthly external shipment volume increased 11.3% Q on Q for an average of 265 million units. Driven by strong growth in data center-related demand, external shipments volume hit a record high. Sales of rod and fasteners totaling 15 billion yen were down 8.3% over the previous quarter. Sales of PMC decreased 1% quarter-on-quarter to total ¥6.2 billion. Average income for the quarter totaled ¥14 billion, and the average margin was 21.5%. On a quarter-on-quarter basis, average income remained nearly flat, while the average margin improved by 0.5 percentage points. Looking at the results by product, we saw an increase in average income for ball bearings. This slide shows a quarterly trend for motor lighting and sensing segment. Net sales totaled 105.1 billion yen, an increase of 3.8% Q on Q. Byproduct sales of motors amounted to 80.2 billion yen, which was in line with the previous quarter, including resonant device. Katsuhiko Yoshida, Ryozo Iwaya, Shinji Shirakata, Joerg Hoffmann, Satoshi Mizuma, Katsuyuki Iwakuma A quarter-on-quarter operating income increased by 6.8% and operating margin rose by 0.1 percentage points.

This slide shows the quarterly trends in semiconductor and electronic segment. Net sales totaled ¥117.2 billion, which was a decrease of 3.6% compared to the previous quarter. This was mainly due to the decline in sales of optical devices and impact of the segment change related to smart products, despite sales increasing for mechanical components. Operating income came to ¥2.3 billion, operating margin of 1.9%. Compared to the previous quarter, operating income decreased by 30.1%, with operating margin falling by 0.7 percentage points. This slide shows the quarterly trends for the Axis Solutions segment. Net sales came to ¥78.9 billion, decreasing by 6.5% compared to the previous quarter. Operating income came to ¥2.7 billion, with operating margin of 3.4%. Compared to the previous quarter, operating income decreased by 48.1%, with operating margin falling by 2.8 percentage points. The bar graph here shows the transitions in profit attributable to owners or parent and the line graph shows the changes in earnings per share on quarterly basis. The profit for the quarter was 10.9 billion yen and earnings per share was 27.1 yen. Next is about the changes in inventory on quarterly basis. At the end of the first quarter, inventories came to ¥370.8 billion, which was an increase of ¥19.9 billion compared to three months ago. This was mainly due to the strategic build-up of inventories needed for the expected increase in sales from the second quarter onwards. On this slide, the bar graph is showing the transition in net interest bearing debt, which is total interest bearing debt minus cash and cash equivalents and the line graph showing free cash flows. At the end of the first quarter, net interest bearing debt came to 252.7 billion yen, The risk scenario for the fiscal year ending March 2026, initially announced in May, has been revised. and the base scenario remains unchanged. The exchange rate assumption is 140 yen to the dollar. This slide shows the forecast by business segment using the base scenario. And this slide shows the forecast by business segment using the risk scenario. This is all for my presentation.

Next, over to you, Mr. Kainuma. So I would like to talk about important points for today's briefing. I would like you to read what is written on this slide. So Q1 finished better than our expectation. So reciprocal tariff. In actuality, it did not have a major impact on our business. Having said that, however, as you may be aware, 15% tariff on automotive, we don't know when it will begin. and employment statistics. According to what I hear, there seem to be many differences. So there is a range to the projections. And at the end of Q1, I think it will be risky to fix the projection at this point in time, but the minimum level has risen to some extent. That is how I would like you to understand. In November, when we announce our earnings in November, I should be able to share with you more solid numbers. Having said that, however, for some reasons, we are enjoying good performance. And more recently, July, August, and September, this momentum is likely to continue. The only The problem or the burden on business is sub-core businesses. I will come back to this point later on. On the other hand, Thailand and Cambodia conflict in that region has been reported by media. Both countries have agreed to cease fire and the actual impact is quite negligible. On a monthly basis, 50 million to 60 million additional cost has incurred. However, when the conflict intensified, I was visiting Thailand and Cambodia, so the separation of politics and economy The high ranking officials of the government of the both countries seem to agree on that and therefore I myself am confident that logistics or the flow of goods will be resumed in the near future. The next topic is The reciprocal tariff, as you can see here, what we make in the U.S. and sell in the U.S. amount to 160 billion yen. Only 40 billion we export to the U.S. And 180 billion yen shown underneath that is the amount of transaction we make outside the U.S. And our products Our products coming into the U.S. in the form of finished products amounts to 180 billion. And top right and bottom right do not matter. So only 40 billion is the amount that matters. And 80% of the customers, we have been able to pass on the additional cost to them as our charge system. So 1.34 million US dollars was the additional cost incurred in Q1. On a quarterly basis, if the current situation The next page, please. As you can see here, I mean, actually compared with Q1 of the previous year, about the profit, sub-core businesses, in other words, the game consoles and OIS. So down 3.1 billion yen. I will give you more details later on. If this had remained flat, it would have been the record high Q1 profit. So core business. I feel safe in saying the core businesses achieved a record high performance in November Our growth drivers, for example, the rider, which is fully automotive driving, and drone and humanoids. So these are three. I will be able to share with you future projections, and it seems quite promising. Humanoid. At CES to be held in January, our humanoid products or our products for humanoid will be exhibited at the CES to be held in January. And what we are working right now, the hand for humanoids So our products are differentiated from our competitors' products, and such hands will also be exhibited. And our core business is likely to further expand going forward. Moving on to the next page. The bearings are enjoying excellent business. Production hit the record high and the monthly plan, 24 million units, has been exceeded. And in the second half of the year, So 340 million units per month, which is a record high monthly production we are aiming to achieve. And the people working in the field are highly motivated and order intake is quite good. So the bearings and firm orders for data centers and automotive bearings are doing well as well and p-bots are also doing well and PMC or machined components are doing extremely well. The only thing that is lagging behind in production is a road end and CNA, the medical. is at the low level, and FX is moving in the negative direction. But right now, we are enjoying excellent performance, so profitability is improving. Next page, please. So this is something you may be already familiar with, fan motors, a cooling system for data centers. Even though the method changes, the demand for motors is quite solid. So our high-performance bearings, there is still good room for further expansion. So that was about the bearings. Next page, please. The motor lighting and sensing. The motors are doing extremely well as well. Fan motors will enjoy high margin this year. Even if we do not renew the record, something very close to that can be achieved. And HDD is really solid as well. High additional value products are being produced and backlight has finally hit the bottom and tablet The volume is expected to grow going forward, so we'll be able to contribute to our profitability and automotive, in my opinion, innovative display will be launched and the mass production has started. I mean, full-fledged mass production will begin next year, but the backlight has definitely hit the bottom.

As for the smart products, battery protection module that is also performing very strongly. Focus for the next fiscal year in detail will be explained come November. But without question, this will become a strong profit driver next fiscal year. So that's the kind of segment that this is starting to turn into. Next is regarding SE. So the first page is concerning semiconductors. The power device, the price correction is making a steady progress, though it is somewhat gradual, but profitability has been recovering. And we did have some issues at the front line for power device, but That has already been corrected and has not led to being a major issue. So the former, the Omron group, the Shiga plant, so the memsumai or the non-contact at the temperature fences, They are likely to contribute towards profitability going forward. And semiconductor, some are actually struggling very much if you look elsewhere, but despite the strong headwind in various areas, we are continuing to maintain high profitability. That is because we are focusing on the niche market and we are able to really strongly appeal our strength. and that has enabled us to achieve these results. And the next page, this is the sub-core and something that we need to explain today. If you look at the bar graph on the right, the first quarter last year was 18.9 billion yen and so you have a slight amount of sub-core profit at operating income on top but if you look at the first quarter you can see that the contribution is negative so this negative the range and if you compare that to the profit contribution in the first quarter last year that's about 3.1 billion yen if you add the two and why did we perform poorly was because for the optical the device we had the rare earth issue where the capacity utilization in our factory came down quite significantly and So the export, the approval from China for rare earth did not come all that easily. And so we have been collaborating with customers and so not from China, but I mean, Vietnam. So we have been molding the components in Vietnam and bringing that in. So that's the kind of thing that we are doing right now. Or becoming rare earth-less, in other words, not using a rare earth. So we have been producing samples of that type of product to customers right now and just waiting for approval by the customers for such a product. But from June, we have been able to resume production, but There is still that uncertainty in regards to the parts supply. It's somewhat volatile, so this is likely to see a bit of pushback. But the full year, the sales number has not changed, the customers have not changed. And so from our perspective, after August, we want to certainly catch up. So that is where we are. But even for now, so more than 80% or so, we have come back, but not quite back to 100% as yet. Next week, I will be visiting the local operation and I intend to check up on their situation. So that's the situation regarding optical devices right now. It will take some more time, but it's a matter of time. The productivity or the production, the frontline, they have already implemented countermeasures, so as long as we are able to source the components, we shouldn't see much issue. For mechanical components, So from ICU, so we have made a release on that. So it's been less than 150 yen. And so the parts that we procured when the yen was weak, and because of the appreciation of the yen, we have ended up incurring loss associated with currency translation. From the second quarter onwards, we should be able to overcome this issue and generate income or profit as we have planned. That's the plan for now. The first quarter, The level of contribution was quite low. But July, August and September, if the exchange rate remains stable, then we shouldn't be impacted significantly and should be able to generate a profit as scheduled. So we have been able to confirm to that level. As for the access solutions, we saw a wonderful productivity improvement. So whether it be paying For the critical processes, the improvement in productivity, that has gone really well. And so the profit, the contribution is biased towards the second half of the year. But from our perspective, something that we have been doing for a number of years, so the high margin products, and so designing for the automotive until launch, Thank you very much. Thank you very much. But European players, because of the slow car sales in China, that has caused a bit more of a struggle for the European players. But from our perspective, we've seen the productivity improvement and launching products with a higher margin. And through these measures, we intend to overcome the situation. Tsubaki Nakashima, there's been various things, but as you can see on the slide, we intend to do this business. This is for humanoid, so smaller, high precision, so the double way or the positioning, that will become necessary going forward, and so We should be able to leverage our strength for this type of component. And so in that regard, a quality issue did occur for Tsubaki Nakashima, but the outcome has all been cleared with the customers. Katsuhiko Yoshikawa, Katsuyuki Iwakuma in the UK's subsidiary of the Honda Atsushin Kogyo. It's a small company, but not much point for us to keep the company, so we decided to sell this company. Page 25 is regarding dividends. Last year we paid ¥20 at the interim period, but this year we have decided to pay ¥25 Katsuhiko Yoshikawa, Katsuyuki Iwakuma We decided only to explain the interim dividend amount. That is all for me. Thank you very much.

Next, we would like to have questions and answers of session. The first question is from Mr. Takayama of Goldman Sachs. Please begin. Thank you very much for this opportunity. Can I continue? Yes, I can hear you. I have two questions. First, on page 17, how to read this slide. So SC, risk scenario at the SC, Q2 seems to be higher. So rather than the risk, is this a realistic profit projection? And the PT seems to go down in Q2, but is it actually higher than this? So a more realistic profit level of these four segments, I would like to understand. There may be ups and downs. So my question is about the profit level in Q2. First of all, these numbers were put together rather automatically, or the first half. So it's a first half forecast minus Q1 results. And as you pointed out, these numbers may not be So how they would be by segment, roughly speaking, in Q1? The published number, 14 billion and 17.3 billion, so 3.4 billion yen up. So it may be compensated in Q2, which is not really right, but inclusive of that. PT, the numbers shown here. The base scenario, based on base scenario, I mean risk scenario are quite similar, but please refer to base scenario numbers. So, 13.5 billion. In actuality, Q1 were 13.9 billion so 14 billion so in Q2 it will be higher than 14 billion and the reason is as Kainuma explained previously bearings are doing extremely well so rod end The medical applications or the some European production sites have negative factors, but PD as a whole is doing quite well. So the numbers should be higher than this. And MLS, these numbers per se, 6.9 billion. Yen Profit in Q2 and this number will be somewhat better than this. And the reason for that is motors and sensing devices as well as backlights are basically improving Q on Q. So that is a main reason. And within SE, there are some ups and downs, PT and MLS in that sense. The numbers may be a bit conservative, but SE, for some items, the numbers may be conservative, and for some others, it's not conservative. For example, optical devices, it's not conservative. The first half overall, OIS, production, may go down a little bit. So that is a negative factor. However, as Kainuma explained earlier, More recently, rare earth issues are likely to be solved, so in August onwards, inclusive of Q3, the full year numbers should remain more or less the same. Coming back to Q2, semiconductors and mechanical components are likely to have upside So the total numbers in net, the total numbers are likely to be better than the ones are shown here. AS are virtually the same as these numbers. So overall, I would like you to understand in that way. I see, understood very well. My second question is, Mr. Kainuma talked about expectations for three items, drawn, humanoid, and what was the other one? And humanoids, Mr. Kainuma commented several times, like 30 billion yen in 2030. and Mr. Kainuma. I think he was not completely sure about that, but now it's clearer. Am I right in assuming that way? So what are the changes you have experienced? So the three items Riders for autonomous driving. Camera, radars, riders. So there are three methods. San Francisco the Waymo running in San Francisco and Amazon related autonomous driven cars have riders of course the cameras are also installed but the riders detect the obstacles and our PMC The mechanical components, bearings, and many others are used. And if that method becomes the mainstay or the mainstream, we will be able to see huge business opportunities. But what's being talked about, Tesla will use cameras. The current Tesla models, too, so whether the humans attach steering wheels, I mean, if it is completely autonomous, the human drivers will not be behind the wheel, but it's going to be quite interesting. Humanoids. So CESS, we are serious about exhibiting our products at CESS in order to see people's reactions, motors, sensors. We have received many inquiries. So eight spears. All of eight spheres. It's like we are getting all of eight spheres. But the issue is 1.4 million units in 2030 we are speaking about. So simple addition will be 3 million units. But the humanoids I mean, I'm not sure whether the number of humanoids will reach that kind of number, but many startups already are working on this. Regarding bearings, to a certain startup, we supply 170 units of bearings to one humanoid, so it's like an aggregate of bearings. Not only bearings. Small size, the motors and sensors, the various things. So I would like to share with you more details in November, but today I wanted to give you a heads up. Now, a follow-up question. Looking back, I think you have received many questions from investors about business portfolio and how to increase top line, et cetera. But eight spares plus or comprehensive approach, has it become clearer, sharpened up, and perfect margin? is another factor. So how you are sharpening your vision. So what we aimed at, so ultra-precision is the source of our strengths. So robotics. It's not that we want to handle all kinds of robots, but the robots with ultra-precise movements, we would like to use our products in them. So humanoids, 1.4 million units, it's not that all of them will use our products, but One way or another, things will accelerate. So what we have, we will be presenting a lot of samples in order to judge what people will become interested. But the sensors, the pressure sensors we have, And we have received many inquiries and shipped many samples. And if this becomes a smashing hit, then we can put it on a mechanical component and supply it to our customers in a combined manner, starting with a DVD and smaller sized laptops, computers and smartphones. So in the new era, new things are launched, but now the three of them have come out altogether.

I'd like to proceed to the next question from Morgan Stanley, MUFG Securities, Sato-san.

Please ask your question.

This is Sato from Morgan Stanley Securities. First question. Katsuhiko Yoshida, Ryozo Iwaya, Satoshi Mizuma, Katsuyuki Iwakuma So when do you intend to increase the production and what is the current production capacity right now? So this is the first question, please. So based on the actual, so starting with April is okay? Yes. So external ship volume, shipment volume, 253 266 276 that's for April May and June and for internal cells actuals were 47 47 and 49 and after July 276, 272, 279. The internal sales 46, 52, 52. And on the production side from April 283, 300, 308, 333 for July, 335 and 321. So October onwards, when we have many operating days, we will exceed 340. And that was what Kainuma-san was talking about in terms of realizing a record high. And for the capacity, as we have been explaining from the past, Thank you very much. The optical device in the first quarter, you've explained that it was quite tough. But is there any changes to the forecast? And so in the second and third quarter, how do you intend to see that pick up in terms of the curve? Well, in terms of sales, the first quarter was very low start. and it's difficult to refer to a specific number but about 20 million and second quarter was upwards of 60 billion and in the third quarter probably similar types of number. and in the fourth quarter will come down again. So that's the kind of transition that we're expecting as far as numbers are concerned. So just to confirm for the full year, the forecast remains unchanged. No, it doesn't. It remains unchanged. So there is some changes in numbers in terms of second and third quarters. But added to that, as we have explained before, The numbers we have explained as a part of the guidance. So we are subtracting the first quarter number from the first half number. So if you could make some adjustment in that regard as you put together the model. So from August onwards, the production has normalized, is that right? Well, the production itself, as Mr. Kainuma has explained, Thank you very much.

I repeat, if you have any questions, please use the raise hand button on the screen. Let us move on to the next question. Missouri Securities, Mr. Goto, please begin. So this is Goto from Mizuho Securities. Can you hear me? Yes. Thank you for your explanation. I have two questions. One is about external sales projection of bearings. Recently, The past record has been exceeded and by application there are some differences in level, but it's coming back. And automotive structural increase, how possible? That is, and the segments that have not made a complete comeback may come back going forward. So the possibility of such improvement, should I assume, what is your thoughts on that? First of all, the recent situation, as you rightly pointed out, the data center related quite a robust China and external sales. So this trend is likely to continue. On the other hand, automotive Depending on the OEM, the situation may be different, but inclusive of content growth, things are growing. And if the production volume remains the same, 5% to 7% or 8%, the bearings for automotive applications will grow, so we maintain the same forecast. And this trend will probably continue next year onwards. And farm orders, as Kainuma explained, CAGR 17%, CAGR can be expected 18% or 17.8% So in 27 or 28, big growth can be expected. However, the cooling system So innovations are happening on a daily basis. So whether this will remain the same for some time, I don't know. But it's going to be even more high performance. And as autonomous driving spreads, the additional devices will become necessary. Likewise, 5% to 8% CAGR is likely, so we maintain such forecasts. In addition, as for the major changes in recent time, drones and robotics, so growths are related to those. There seems to be high potential, so drones are more than 30% CAGR, is likely to be actualized. So that is my answer for your question about robotics. So some use 170 units of our products, or other robots are maybe simpler. and some maybe quite similar to human bodies. So we are now scrutinizing how we can capture business opportunities. And at this point in time, it's rather difficult to quantify the business opportunities. Understood. Thank you. My second question is about the smart products, DVU. The demand is growing, I understand. And AI servers, data center servers, the power consumption is increasing. And therefore, business opportunities are likely to grow going forward. So what is your take on this? Yes, as you are aware, every quota So we are making revision like particularly power storage related or the battery related. The customers are enjoying a good business and we need to secure a production capacity in order to follow up their demand. So we need to implement a broad range of measures about the future. The battery-protective module, in addition to that, there are various peripheral businesses. As Kainuma mentioned, there are many business opportunities that we can seize regarding that. Well, in November, we will be able to share more information with you. So the customer base, is customer base expanding? Yes, as you may be aware. We have one very strong customer as a core customer. In addition to that one, the automotive and we will be expanding our product lineup in order to increase our business. I see. Understood. Thank you.

So we'd like to proceed to the next question from UBS Securities. Hirata-san, please ask your question. This is Hirata from the UBS Securities. Thank you for the opportunity. Please go ahead. I have two questions. The first question is regarding SE. In the first quarter, you actually exceeded by 2.7 billion yen, and that was the semiconductors, the mechanical components. But can you give the quantitative breakdown? In terms of semiconductors, there was kind of a Russia demand prior to the tariff increase, I believe, from the second quarter onwards, and you said it's going to be strong, but could you Thank you very much. How much upside is there? Well, it's not included here. So we are looking at it quite conservatively right now. And in that regard, if the mechanical component customer Thank you very much. As to whether there is a blow-forward demand or not, well, our product is such that it is more a niche-top, customised type of product, so we're not expecting anything significant in that regard. from the first quarter we have continued to receive quite strong numbers so that's the situation for semiconductors and for BB as well we have the analog and power well the situation being different from the two for bat analog the numbers are quite strong 1.2 for example is where we are seeing right now and for the optical devices As against the expectations it was weaker and so you have to do the math to come up with the numbers. Thank you. In the first quarter semiconductors and mechanical components upside. But it was more the upside from the semiconductor was more significant. Are you talking in terms of profit? Well, in terms of profit, yes, the semiconductors were very strong. And in terms of application, the strong application was related to smartphones. Could you give some information in that regard? Smartphones were strong. and we received strong inquiries outside North America as well and so mobile I think in general we are receiving strong business and for power devices as well there was quite good in the first quarter as well and IGBT, for example. Rather than IGBT, the other type of the power semiconductors, say, for example, the air conditioner application, they were quite strong. Even in IGBT, we also do the trains, electrical So we have received strong inquiries there as well which showed strong numbers too. Thank you. My second question is again for SE segment. So I understand that you struggled in the first quarter and the second quarter, so July is looking somewhat tougher. So unless the export from China is resumed, the situation will remain difficult? Or do you have an expectation for supply to increase rapidly from areas outside China? And if you were to procure from outside China, would there be additional cost incurred or anything that could potentially be a risk? In terms of additional cost, not in terms of the unit price of the product to be procured, there needs approval and the management cost is required. So there are some costs incurred on a one-time basis, but these can be resolved. And overall, it's negligible. And what we are trying to do is, of course, moving away from China, and the most important metal, so not to use that, becoming a DY-less. And if we're able to do that, so we no longer have to use the restricted product, And so hopefully be able to resolve this issue from such a perspective. So as far as the course of direction is concerned, not just ex-China, but we have multiple plans through which we are trying to resolve the situation. So that's where we are right now. And that's it. Thank you.

Because the time is limited, the next question will be the last one. Nomura Securities, Mr. Akizuki. So, Akizuki from Nomura, thank you very much. Briefly, I would like to confirm the numbers. First, MLS. On year-on-year, the profit margin last year was 5.2%, and this year is down to 4.8%. But HDD did very well. So I thought it would be higher than this. But the profit margin, what is the reason why a profit margin declined year on year? If you could explain, please. HDD, the customer's numbers and our numbers Because of supply chain inventory adjustment, there is difference. And from customers' financial results, we assumed our numbers, and our numbers seem a bit weak. And share is not 100%, but inventory adjustment comes in between the two, and there is a lag. Time log, and as for Q1 numbers, Akitsuki-san, your assumption for Q1, probably her assumption was somewhat weaker, but as was explained at the outset, it did the better than the assumption or expectations, and the same applies to full year. For HDT, we took a conservative view, so 10% year-on-year, 10% decline year-on-year for motors as a whole. That is our assumption. And Q1, there was inventory adjustment. Looking at the situation from customers' numbers, it was rather weak. Thank you for that. And my second question is PT is very strong. And by application, you explained the numbers, so I understand the overall situation, but if it is possible, can you Explain the bearings or by application the breakdown. Then I would like to explain that. Q1, Q on Q, the breakdown automotive, 19%. and Space and Aircraft 39%, and Home Appliances 39%, and OA 3%, and PC and Peripherals 2%, and Motors 18%, Amusement 1%, Others 16%. Q&Q growth rate. Well, Ieone, if possible, please. Ieone, automotive, minus 9%. Space and aircraft, plus 11%. Home appliances, minus 12%. OA, minus 12%. PC and peripherals, minus 10%. Motors, plus 26%. Amusement, minus 4%. Others, minus 10%. I see. The motors, data center, and air conditioners, it's included in C. So should I take it as the motors in general? Yes, exactly. I see. I understood. Thank you.

So with that, we'd like to conclude the Q&A section. So with this, we'd like to conclude the earnings presentation explanation. After the close, a questionnaire screen will be shown. This is going to be an important feedback for our activities, so I ask that you respond to this questionnaire. So thank you very much for your participation today. Thank you.