Roland Corp

Hello, I'm Hakamata from CFO. In December 2025, I would like to explain the third half-year calculation. The third half-year累計実績 is based on the performance, except for the river effect, and is based on the total total cost increase and increase. As shown in the previous calculation explanation session, the impact from the third half-year has become complete. In our company, we are making rapid efforts to focus on price optimization, and the impact will be reversed on the basis of pre-pricing, and it will be in the form of increase in quality, increase in revenue, and increase in profit. There has been no change in the performance forecast for the second quarter. In order to increase the accuracy of the financial impact, we will continue to follow the same pattern this time. In terms of the financial impact after the next quarter, it will continue to be a cost-increasing factor against the previous quarter, but we believe that the increase in the amount can be offset by countermeasures and other effects. Now, let's look at the points of the third quarter calculation. The sales volume is 6.95 billion yen, and the total cost is minus 0.1%. In addition to Kawa Seikyo, the actual power base is 1.7% more. We were concerned that the demand for the U.S. would deteriorate due to the tax policy, but the sell-through of our products has been a significant move. The operating profit is 6.1 billion yen, which is minus 4.6%. This is also an increase of 8% based on the basis of the reduction in the river effect. The cash inflow has been made full-scale since the third quarter, but it has been reversed due to price fluctuations. I would like to explain the details later. This is PL. There is a cost increase due to the tax, but the profit rate has improved except for the river. The 3-month results from July to September are posted in the supplementary document, so please check them accordingly. Next is the sales situation for each product. In order to understand the actual situation better, I would like you to take a look at the full-time expenses recorded in FUTOJI. This is the full-time expenses of the actual house except for the river. In the main category, there is an improvement in new products, except for keyboard instruments, and the actual price has increased. The keyboard instrument is slightly below the previous year, but we think that it can be recovered in the fourth quarter due to the impact of the decline in some of the products. Next is the region. In the United States, we have already implemented a price increase, but there is an improvement in new products, and the sell-through has increased significantly. As I explained before, some dealers were left behind due to the loss, resulting in a slight decline. In China, which was in a slump, the stock market was recovering well, and the third quarter's results showed an increase. This shows an increase in sales. The number of sales was affected by the price increase, but the stock market remained the same. The price increase has been greatly improved due to the effect of the price increase. In terms of short-term expenses, it has increased by about 400 million yen compared to the previous period when the stock price was reduced, but in the case of the basic plan, it has been controlled by about 1 billion yen to respond to the cost increase due to the tax. Considering these factors, the total operating profit of the third quarter will be 8.3 billion yen, but from here on, there will be a cost increase due to the influence of the exchange rate and customs tax, and it will be 6.1 billion yen. From here on, I will introduce you to the new products that were released in the third quarter of about 3 pages. I hope you can check it out later, but I would like to introduce one more thing about digital instruments. This time, our company has released the new digital instrument, the Aerofon Brisa. This is a digital instrument with a flute style. The instrument has a large market size, but we are paying attention to it as an area where electronics are not yet advanced. We expect that by adding this fruit style to the sax style that is already on sale, we can further expand the market for digital instruments. Next, I would like to explain the long-term performance forecast. As you can see, there is no change in the long-term performance forecast. Originally, we wanted to correct the performance forecast from the current exchange rate to the fixed value from the current exchange rate announcement, but we need further consideration in order to provide a high-quality estimate of the rate of return, which is considered to be difficult to change. This time, we have maintained the performance forecast as it is. On the right side of the slide, you can see the interest rates and exchange rates for the fourth quarter. I hope you can refer to them. In addition, we believe that the expected interest rate will be offset by countermeasures. This is an image of the increase in operating profits from October to December. The current range of performance expectations for the second quarter is very wide at the end of the third quarter, so we created it so that you can have a little more image. We think that the quantity will be slightly below the previous year from October to December, but we think that the effects of price optimization and mix improvement will continue to appear. As for the half-life cost, we have already reduced it by about 1 billion yen against the initial planning cost, so the fourth half-life is scheduled to be implemented as planned, and we expect it to increase slightly in the full-life cost. Based on these, we believe that the full-life cost increase will occur, except for the influence of debt and interest. That's all I have to say.