The balance sheet shows total assets amounting to 1,440.6 billion yen as of December 31, 2012. Total assets increased 88.1 billion yen year on year due to a jump in net income resulting from better sales volumes, increased investments in marketable securities as well as the consolidation of overseas sales subsidiaries on top of the positive impact of the weak yen which generated a gain of 17.3 billion yen Interest-bearing debt declined 17.4 billion yen to reach 323.6 billion yen. This drop was due to the redemption of corporate bonds amounting to 20.0 billion yen despite a 10.0 billion yen bond issue in June. We will continue to work on reducing interest-bearing debt in light of market conditions. Net assets totaled 508.9 billion yen, up 57.3 billion yen, due primarily to a 45.7 billion yen increase in retained earnings. The shareholders’ equity to total assets ratio was up 1.9 percentage points from the end of the previous fiscal year to reach 35.2%. The debt-to-equity ratio improved by 0.12 points to reach 0.64, due primarily to an increase in accumulated earnings and a decrease in interest-bearing debt.