・ Please look at page 14.
・ Enhancement in efficiency, a third goal, has progressed as planned.
・ The expense ratio, however, is expected to rise this fiscal year from a year ago, chiefly reflecting the effect of the consumption tax hike in April, a transfer of an expense item associated with in-house production at damage surveys affiliates, and full-year depreciation of system investment.
・ Reducing operating expenses is an urgent task to improve earnings in the medium to long term. We will take steps to do so with a strong sense of danger.