This waterfall chart shows the major components of change to our operating income forecast for the full year relative to the March 2019 results, with FY2018 OP on the far left and the FY2019 forecast on the far right.
As you can see, manufacturing fixed costs in the middle of the chart will be reduced by ¥4.7 billion but SG&A will rise by ¥5.1 bn. This is because we are intentionally increasing strategic investments to strengthen our business base which is essential for medium- to long-term growth.
I will explain in more detail. Please see slide 18.