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- 01:01:19.8 I am very sorry but I missed the first part of the presentation, so I apologize if you discussed this in your presentation but I would like to ask about your China business. We have seen the Chinese government provide subsidies to support the robot industry. I assume that this has some impact on your business. How much of an impact do you think central government initiatives to stimulate demand are having on your business?
Also, earlier, there was a comment that you saw some special demand in 1H but can you talk about what it was that made you view this demand as special in nature?
- 01:02:25.6 Can you look at slide 9 please?
I highlighted this as a topic of interest for 1H. China IAB revenues grew 9% YoY but as shown on the right-hand side, for the four target industries, we saw growth of 24% YoY.
In response to your first question, although I wouldn’t say that we don’t do any subsidy driven business, it is relatively small. In the Social Infrastructure industry shown on the right-hand side of the slide, as an example, as China builds out its underground network of tunnels for infrastructure, such tunnels do use Omron equipment. Applications like ventilation control in tunnels use PLCs. We are winning some orders in areas like this.
(Nitto) The special demand in 1H was clearly driven by high performance smart phones and related to new product rollouts, which led to capex investments. Although our backlight business struggled, we were able to capture the IAB opportunity.
(Yamada) Additionally, just to clarify, I did not use the words ‘special demand’ and I don’t view what we saw in 1H as being particularly special in nature. Instead, what we saw was, in my view, simply a natural consequence of the investment cycle.
- 01:04:04.3 In other words, it was normal seasonality and all you are saying is that you were successfully able to capture this business, is that correct?
- 01:04:10.4 Yes. I think it is better to look at it this way.
- 01:04:15.5 Thank you.
- 01:04:18.7 If there is nothing more, we will close the Q&A session. We would be grateful if you took the time to complete our feedback sheet.
This concludes the 1H FY2016 results briefing for Omron. Thank you for your participation today.