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- 00:45:53.0 Thank you. Please talk about the operating environment for IAB. Recent statistics from JEMA and NECA seem to suggest an improvement in exports from August onward, so it feels like the overseas markets should be doing better. Some analog semi makers have also suggested that they have seen a pick-up. What is your view of current conditions?
- 00:46:17.8 I do think we have seen the tide turn and conditions are heading in a more favorable direction. That said, for the domestic business, we are still seeing lingering signs of caution on the part of Japanese players in terms of investing in Japan. For instance, in the auto industry, auto makers have been willing to make investments in new lines related to the rollout of new models. However, for upgrades to existing production lines or other kaizen-related investments, we are still seeing cautious behavior.
- 00:47:07.8 So you think the overseas markets are starting to bottom-out?
- 00:47:12.7 I wouldn’t go so far to say that the overseas markets have bottomed out. There are still some challenges in terms of macro conditions in both China and Europe. Additionally, as I touched upon in the presentation, there are concerns that the US may have peaked out. I do not think that we are at a point where I would be hitting the gas pedal yet but we are seeing a lot of activity related to advances in production technology, so we are focused on ensuring that we properly capture this demand.
- 00:47:49.1 Is it easier to sell something like innovative-Automation in this kind of an environment or do you think you get better traction when your customers start to aggressively increase capex spend?
- 00:48:01.0 The former. The innovative-Automation proposals we are making, including robotics functionality, are targeted at industries that historically were not significant users of robotics, unlike auto painting or auto welding applications. We are not proposing to be the last entrant into the conventional industrial robotics space. We are interested in processes that had previously been labor-intensive, such as assembly or inspection. These are the areas that we are targeting with innovative-Automation. As an example, we are clearly reaching the limits of what can be done by humans in inspection processes like the sensory evaluation that is typically done at the very end of the smart phone handset manufacturing process. We think we will see significant investments in automation in this area going forward. This is an area that we are specifically targeting with innovative-Automation.
- 00:48:59.2 So it is easier to execute on this strategy when your customers are more focused on investing to improve productivity rather than increasing capacity?
- 00:49:03.3 Yes.
- 00:49:06.4 I understand. My second question is about the backlight business. My apologies for being persistent. In components’ businesses where you are seeing price collapses, I believe it is very difficult to shrink a business while maintaining equilibrium. Effectively, in order to survive the only choice is to grow volume (i.e., grow share) to offset the impact of falling prices. From that perspective, I am not convinced that your strategy of optimizing the business is viable. Can you comment?
- 00:49:27.3 There are areas where we have significant strengths. For instance in smart phone handsets, we are strong in backlights for slim bezel displays. Customers rate our technology highly in this area. What we are proposing to do is to narrow our focus to areas where we have proprietary superiority and rebuild our business around such areas of strength.
- 00:49:56.3 Thank you.
- 00:49:59.8 Next, the person on the right.
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