◎Now, I will explain management resource allocation. As we advance our business and improve free cash flow, our policy will be to shift stages in our business management cycle.
◎First, for our financial platform we will maintain a current “A” credit rating.
◎Our growth strategy will involve continuing aggressive investments through fiscal 2020, after which we project our scope of investments to level off.
◎Then, we will enhance shareholder returns in order to meet the expectations of our investors.
◎Please see page 19.