Today, I will discuss the following topics. The consolidated results for Second Quarter ended September 30, '21 increased 13% compared to the same quarter of the previous fiscal year to 2.3694 trillion yen and consolidated operating income increased 3.2 billion year-on-year to 318.5 billion yen, both record highs for the second quarter.

Income before income taxes decreased 20.6-billion-yen year-on-year to 283.1 billion yen, primarily due to a deterioration of variation gains and losses on securities investment. Net income attributable to Sony Group Corporation's shareholder was 213.1 billion yen, a decrease of 245.5 billion yen compared to the same quarter of the previous fiscal year, which included a recording of 214.3-billion-yen reversal of various allowances recorded against the deferred tax assets.

Please see pages 3 to 6 of the presentation material for the position of each profit metrics. The slides show the results by segment for FY21 Q2.

Next, I will show the consolidated results forecast for FY '21. Consolidated sales are expected to increase 200 billion yen compared to our previous forecast to 9.9 trillion yen.

And operating income is expected to increase 60 billion yen to 1.040 billion yen. We have also upwardly revised our forecast for income before income taxes to 990 billion yen, and our forecast for net income attributable to Sony Group C corporation shareholders, to 730 billion yen.

Our forecast for our consolidated operating cash flow, excluding the Financial Services segment, is unchanged at 890 billion yen. This slide shows our focus by segment for FY '21.

I will now explain the situation in each of our business segments. First is the game and network services segment.

FY '21 Q2 sales increased a significant 27% year-on-year to 645.4 billion yen, primarily due to an increase in PlayStation 5 hardware sales and an increase in game software sales of third-party titles. Operating income decreased 22.7-billion-yen year-on-year to 82.7 billion yen, primarily due to a deterioration in the profitability of hardware and peripheral devices.

Our FY '21 forecast remains unchanged from the previous forecast. Driven by an increase in add-on content sales, Q2 game software sales exceeded those in the same quarter over the previous fiscal year when stay-at-home demand was strong.

Total gameplay time of PlayStation users decreased 17% year-on-year. But the fact that add-on content sales exceeded those in the same quarter of the previous fiscal year, is a positive sign that the quality of user engagement has increased.

In the second half of this fiscal year, the first party software titles, Horizon Forbidden West and Gran Turismo 7, as well as major third-party software titles are scheduled to be released. As more game fans play these exciting titles, we expect user engagement to increase even more.

At this time, there is no change to our FY '21-unit sales target for PS5 hardware. But several factors are significantly impacting the supply of the product, such as the distraction of the global distribution supply chain, and limitations on the supply of components, especially semiconductors.

We're continuing to exert every effort to maintain the momentum of the PlayStation platform by meeting the expectations of the people who are waiting for PS5. To further strengthen our software development capability, we announced the acquisition of Fire Strike in September and BluePoint games this month.

Both companies have excellent technical capabilities and superior track records, and they have here too for, contributed to the development of many of our gaming software titles. Going forward, we plan the revenues to these studios to increase the development capability of the PlayStation studio and diffuse the expertise necessary to deploy games to PCs and mobile devices.

As a result of the acquisition announced since the beginning of this fiscal year, the number of PlayStation studios will increase by four to 16 and the number for developers will increase by almost 20%. We plan to continue to aggressively invest in our development capability going forward.

Next is the Music segment. FY '21 Q2 sales increased a significant 18% year-on-year to 271.6 billion yen primarily due to an increase in streaming revenue.

Despite the impact of the increase in sales, operating income decreased to 50.6 billion yen, 3.7 billion yen lower than the same quarter of the previous fiscal year in which a 5.9-billion-yen one-time gain was recorded for the transfer of a business outside of Japan. The combination to the operating income of that quarter from visual media and platform, which includes mobile game application and anime accounted for approximately 1/4 of the operation -- operating income of that segment.

FY '21 sales are expected to increase 30 billion yen compared to our previous forecast to 1.70 trillion yen and FY '21 operating income is expected to increase 10 billion yen to 200 billion yen.

Streaming revenue in Q2 continued to grow at a high rate, 58%, a 38% year-on-year in recorded music and 47% year-on-year in music publishing. Sony Music Group, which is responsible for our music business outside of Japan, where the growth of the streaming market is conspicuous, is expected to reach a record high operating income this fiscal year for the fifth consecutive year.

We continue to generate hits thanks to enhanced efforts to discover and nurture artists. In Q2, the recorded music business has an average of 38 songs in Spotify's global top 100 songs ranking.

Moreover, the new song, Easy On Me, which was released by well renowned singer songwriter, Adele after six years of business on October 14th, made history as the most played song on Spotify in a single day. We have high expectations for album 30, which will be released next month.

As Sony's competitive advantages in the music business lie in our global ecosystem that could meet the diverse needs of artists and the fact that because of music business is part of the Sony Group, we can offer artists opportunities to express their creativity in areas, such as game and pictures. In addition, we are enhancing our many artist-friendly initiatives such as offering them financial and other support.

And we believe these initiatives anticipate the strong financial performance for this segment. Next is the Pictures segment.

FY21 Q2, sales increased a significant 40% year-on-year to 260.7 billion yen, primarily due to the increase in sales of television productions and media networks. Despite the impact of the increase in sales, operating income decreased 1.2-billion-yen, year-on-year to 31.6 billion yen, primarily due to an increase in marketing expenses related to the release of films in theaters.

FY-21 sales expected to increase 60 billion yen compared to our previous forecast of 1.180 trillion yen. And operating income is expected to increase 18 billion yen compared to our previous forecast to 108 billion yen.

Primarily in the U.S. we have begun release major films and theaters, and our film Venom: Let There Be Carnage, which was released this month, generated Box Office revenue, approximately 10 billion yen in the first three days of its release in the U.S., which is the best opening performance of any film during the pandemic.

We are planning to release our compelling IP from Sony to theaters going forward, such as Ghostbusters: Afterlife and Spider-Man: No Way Home. On the other hand, we plan to monetize a family-oriented films this fiscal year such as, Hotel Transylvania and Transformania by directly licensing them to video streaming services as we did not believe they will draw a sufficient theatrical audiences during the pandemic.

Going forward, we plan to continue to respond appropriately to the changes in the environment to a flexible releasing strategy, aimed at maximizing the long-term value of our films. Last month, we signed a non-binding term sheet to merge subsidiary of Sony Pictures Entertainment, SP&Z entertainment enterprises media Company in India.

And the proposed merger, SPE, it will hold a majority stake in the resulting merged Company. Under the term sheet, each of the two parties are conducting mutual due diligence and has agreed to negotiate exclusively SP for a period of 90 days with the goal of reaching definitive agreements.

India has an economic base which is rapidly growing. Primarily among the younger generation and is the largest linear TV market in the world that is still growing.

In addition, the opportunity for a digital distribution services are beginning to grow rapidly due to improvements in India's communications infrastructure. SP's Indian business, which includes the video distribution service Sony Live, is a leading TV broadcasting business in India, and it accounts for slightly less than 40% of the sales of media networks in Q2.

As a growth area, the picture segment we plan to continue to proactively seek opportunities to expand this business by using the profitability of the TV broadcasting business and our content assets to strengthen our digital distribution service. Now, I will explain our anime business that spans the music and picture segment.

On August 9th of this year, we completed the acquisition of Crunchyroll by Funimation, a joint venture between SP and, and Aniplex. Crunchyroll is the world's largest anime dedicated direct-to-consumer service, with more than 120 million registered users and more than 5 million paying subscribers in more than 200 countries and territories.

The market for Japanese anime outside of Japan has grown significantly at a compound annual growth rate of 30% since 2014. We aim to create the most beloved video distribution platform for anime fans around the world by delivering compelling content to enhance distribution service brought about by the integration of Funimation and Crunchyroll.

And next is the electronics products and solutions segment. Primarily due to the impact of foreign exchange rates and an increase in the sales of smartphones, Q2 sales increased 9% year-on-year to Y=581.9 billion.

Operating income increased a significant Y=19.3 billion year-on-year, to Y=72.7 billion, primarily due to the benefit of the increase in sales and improvement in the product mix. FY21 sales are expected to decrease Y=40 billion and compared to our previous forecast to Y=2.280 trillion.

Well, operating is expected to increase Y=20 billion, compared to the previous forecast to Y=190 billion, to reflect the results of FY21 Q2. During Q2, we were unable to meet the demand for some products because the resurgence of the COVID-19 pandemic in Southeast Asia led to limitations on our factory operations and on the supply of contents.

However, we maintained a high level of profitability due to our ability to maintain prices and shift to higher value-added models. In the TV business, although we were able to maintain market prices during Q2, a rapid decrease in panel prices going forward could impact the market prices of our products.

So we have incorporated that possibility in our forecast and we'll closely monitor market trends in order to control inventory and margin. In addition, limitations on the supply of components, especially semiconductors have recently become apparent and we have incorporated the impact of these shortages in our focus for the fiscal year.

And prior to incorporating these risks of the forecasted operating income for the second half of the fiscal year was essentially flat compared to the second half of the previous fiscal year. Next is the imaging and sensing solutions segment.

FY '21 in Q2 sales decreased 9% year-on-year to 278.3 billion yen and operating income decreased 1.0-billion-yen year-on-year to 49.7 billion yen. Our FY '21 sales forecast remains unchanged from the previous forecast, but operating income is expected to increase 10 billion yen compared to our previous forecast to 150 billion yen.

Our FY '21, sales forecast remains unchanged for the previous forecast. But operating income is expected to increase 10 billion yen, compared to our previous forecast 150 billion yen.

Although the mobile sensor business was impacted by the recent weakness in the Chinese smartphone market, the tight supply and demand situation for semiconductors in general and delays in the production of smartphone and components for smartphones in the south east. There's no major change to our FY 21 forecast with business primarily due to the positive impact of foreign exchange rate and reduction in expenses.

We have taken steps to minimize the impact on our financial performance this fiscal year of restriction on the quality and increase in the price of procured from fund-raise. Therefore, we have made to expand our customer base, are also progressing steadily.

However, securing the logic waivers means sales increased in quantity and enhance added value of our sensors from the next fiscal year has become a major issue. We're continuing to negotiate with our foundries, but the tight supply and demand situation is expected to continue next fiscal year.

Despite these challenges, we upwardly revised our fiscal year forecast for image sensors sold to audio visual and the necessary equipment. The market for this sensors is growing faster than anticipated, primarily due to recovery in the market for digital cameras and increase in demand for factory automation.

This market is more stable than the market for mobile application, and has helped profitability. So we expect that it will contribute to the stabilization of profit of the entire image sensor business going forward.

Now, I'd like to discuss the potential construction of a semi-conductor factory in Japan by Taiwan Semiconductor Manufacturing Company, which was announced by TSMC the other day. Sony outsources almost all the production of logic wafers as part of the process over our manufacturing image sensors for securing a stable supply of logic wafers is a critical business issue at the time, when the global semiconductor shortage is expected to be prolonged.

Because building a factory of this nature could serve as a possible solution to this problem in close collaboration with TSMC and the Ministry of Economy, Trade and Industry of Japan, we are studying the possibility of adding TSMC's Japan factory to our sources of logic waiver by leveraging our expertise, managing our own semiconductor factories in Japan to assist TSMC in building the new factory. We believe that further strengthening and deepening our partnership with TSMC, which has a world-leading semiconductor production technology is extremely meaningful for Sony.

However, this matter is subject to further study and discussion. Last, is the financial services segment.

FY '21 Q2 financial services revenue was 368.4 billion yen, essentially flat year-on-year and operating income increased 6 billion yen to 43.1 billion yen, primarily due to an increase in profit at Sony Life Insurance Company Limited. New policy amount enforced at Sony last year during Q2.

exceeded that in the same quarter of the previous fiscal year, primarily due to the strengths of our business selling to Corporation. FY21 Financial Services revenue is expected to increase Y=90 billion compared to our previous forecasts, the Y=1.49 trillion.

Our forecast for operating income remains unchanged from the previous forecast. Lastly, I will discuss the strategic investments we are accelerating in order to grow over the medium to long-term, approximately Y=1 trillion of approximately Y=1.4 trillion, in such an investment we made from April 1st, 2018 to March 31st, 2021, was used to acquire businesses while the rest was used to obtain minority equity stakes.

And repurchase Sony 's stock. We expect to generate over in cash flow of approximately Y=180 billion from the acquired businesses over the 3 years from April 1st, 2021 to March 31, 2024.

As a part of our resources for capital allocation, we intend to use this cash flow from further investment, accelerating the cycle, thereby returns synergy from previous investments, are used to invest in future growth. Our ability to invest early in areas with high growth potential has increased and opportunities to invest have also steadily increased, especially in the entertainment space.

During the period of current mid-range plan, we plan to make such investments more than Y=2 trillion, including Sony stock repurchases. The total amount paid so far for companies and assets that have already been acquired, including Crunchyroll, is approximately Y=280 billion.

The total amount of investment already decided upon is approximately Y=120 billion. Last week, we announced the sale of GSN games, a casual mobile game business under PSC.

We plan to reallocate the capital generated from the sale of businesses and assets like this to strategic investment in growth area. This concludes my remarks.

Thank you very much. I'm Inomata from NHK, can you hear me?

Yes. We can.

Thank you. I have two questions.

First question has to do with the impact of COVID-19. The state of emergency was lifted and economic activities are recovering gradually.

Impact. How do you factor in the impact this time?

And also are there going to be changes in the stay-home demand? And what would be the possible impact upon your business?

That's my 1st question. Second question, is semiconductor production.

TSMC of Taiwan -- TSMC is going to establish a plant in Japan and you are candidate for working together with TSMC, to the extent that you can share with you, can you explain how you're going to collaborate with them.

Thank you for your questions. Two questions.

I am going to respond to both of your questions. First, impact of COVID-19.

And secondly, TSMC construction of the plant of TSMC and our position to that. With regard to your first question, COVID-19.

In the second quarter, the impact on production and logistics is large and we have difficulty in challenge in managing. But frontline people have worked well, and it was managed well as a business.

Going forward the pandemic might spread in the future and it may subside. So we have to -- we should be accumulating the knowhow to respond to such pandemics and respond accordingly.

Last year, In game business, impacts, effect of stay home demand was large. And this was a tail wind for our business.

This year, the tail wind is less, we have less impact from stay home demand. Your second question.

TSMC's new factory -- as I mentioned earlier, for us, it makes sense logical way for and a stable procurement of that is very important thing for us. And just stable supply of semiconductor is the key for the Japanese industry as a whole.

Therefore, to the -- as much as possible we'll have to collaborate on this front. As for the it is a matter -- there many things which are still under discussion.

And of course, when decisions are made promptly, we're going to explain to you. Thank you.

Asahi Shimbun Newspaper, Suzuki, thank you for the presentation. Can you hear me?

Thank you. I have two questions.

First, imaging and that imaging issue. As you explained, and TSMC and Sony will be collaborating, I understand.

But more specifically, are you going to hold a stake in the Company? Can I ask for an answer there?

And also, you say that it will contribute to the Japanese industry on the whole but automotive sectors -- Excuse me. I believe that automotive sectors will also be involved in about gaming.

The PS5 production is not picking up. And the second quarter again, I miss 3.3 million units, so it's slow.

And I'm wondering if you can reach 40 million that you are talking targeting tourist. So is there a possibility that you'll be reducing your target?

Can you elaborate on that? So these are my two questions.

Thank you for your questions. I will respond to both questions.

First about the TSMC and the factory of TSMC. Whether we will hold a stake in the new factory, we are are targeting towards securing a stable supply.

And that is the reason why we are going to support them in building and operating this new factory. And so when it comes to investment, and the amount in investment, and those details, This is currently under study and being discussed.

Therefore once something is decided, we'd like to promptly inform you. And about PlayStation 5.

Well this fiscal year's target. This fiscal year, in the second year of PS4 it was particularly more precise, 14.8 million units.

And we were targeting to exceed this number. And we have not changed this target.

Meanwhile, well, worldwide, there is a disruption in the logistics and mainly semiconductors device supply are being constrained. And this is having a larger impact.

And as you know, the hardware sales in the first quarter were less unit-wise, and so this is having an impact on us, and likewise with the second quarter. But I think that with effort and putting in place different measures, the PS platform momentum can be maintained.

And especially, to the users they're waiting for their PS5. We want to be able to supply as many PS5 s as possible to our customers who are waiting.

That is our thinking. Thank you.

This is from Nikkei, can you hear me?

And the answer to question, you have the comprehensive negotiation and consultation. And can we understand that includes equity investments?

TSMC in their press conference for the joint venture. Normally they didn't engage in that, but this time case-by-case, they study this possibility.

So equity investment or the part of the factory is owned and thus some funding is provided. Do you have that kind of equity investment?

Thank you very much for your question about this particular issue. Let me be redundant.

Let me repeat myself. Currently, the discussion is underway, and consultation is in the way.

And therefore, I'm not able to make comments further. And once decisions are made, I would like to share with that decision immediately with you.

Yes. We can.

Thank you. I have two questions.

Earlier, semiconductor, their plant was stopped due to COVID-19, and you had difficulty in managing the situation. In order to conduct a stable procurement, how are you managing this?

Can you elaborate to me that? And also the impact of the shortage of semiconductor is seen in games and electronics.

And then how much monetary impact is there. Can you explain?

Second question, capital allocation. In the -- you have been conducting acquisitions and cumulatively, 180 billion operating cash flow is forecasted.

Most specifically in what area are you going to do this? Are you going to do or investment or return to the shareholders?

Thank you for your questions. I would like to respond to both of the questions.

First, semiconductor -- shortage of semiconductor and other issues of the supply chain. In order to stably procure, what can we do?

In various ways, we have been addressing this question. Common -- making common standardization of the parts and components, and also the -- we asked the affiliated companies to produce for us.

And where there's a focus to our shortage, we will be increasing the level of inventory higher than usual and also change the design so that other parts and components can be used. So various measures can be taken with a combination of these measures.

So far, at least up until the first half of this fiscal year, we have been able to minimize the negative impact. And as to the monetary amount, how much impact is there?

I think it's difficult to tell how much but rather, I think that we are managing the situation rather well. In the second half, this situation is likely to continue.

So as I touched upon in my presentation, we have factored in the risk in the EPS segment. With regards to your second question.

Capital allocation going forward. Basically, from this fiscal year, for three years, in the mid-range plan, more than 2 trillion is to be allocated for a strategic investment.

As we have stated, strategic investment for the growth of the business in the future, we will be making strategic investments. That is our top most priority, followed by capex and return to the shareholders and share buyback, repurchase of shares.

That is the order. Thank you.

Can you hear me?

I have two questions. First, imaging sensor.

About the imaging sensor. I think there is some instability for smartphones and -- but what about the product mix changes?

Can you explain about the changes in product mix? Are you going to shrink the smartphone portion, or are you going to add on more for the industrial applications?

Can you give me a total view about PlayStation 5? The second question.

Well, the production is not picking up. Therefore, I would like to know what is happening about the momentum, and I do understand that there is a prevalent about unit sales and consumer momentum.

Are you not facing any adverse situation or do you need to come out with measures in the mid-to-long term? Can you talk about your future plans?

Thank you.

Again, I will try to respond to both of those questions. About the image sensor, imaging sensor.

Those for smartphones, and the other is for industrial equipment, cameras, and for those applications. It's a mix of those semiconductors or imaging sensors.

We are planning to add-on. But about the size scale.

And the smartphone market is much bigger. And therefore, I think we have to observe the trend in the smartphone market.

We have to carefully monitor what is happening in this smartphone market. That's the first part.

And about PS5. We, as early as possible, we'd like to release as many units.

This is what we have in mind. But so far, overall in MAU, it's about 100 million people.

PS5 ratio-wise is less than 20%. And so when it comes to user engagement, PS5 sales does not immediately have impact on users’ engagement.

It's hard to believe that there will be a direct impact now. The add-on contents -- it is more than last second quarter, year-on-year, because we think that the user engagement has improved.

And we want to try to positively take advantage of this momentum in PS5. And also, we have another release in the fourth quarter and therefore, we would like to carefully monitor the trend.

Thank you.

Can you hear me?

Yaskawa from I have two questions regarding the yen depreciation and how much the business incorporates the impact of the JP yen and the government regarding the quarterly disclosure, the government will begin the discussion about that. And what is your view about this new initiative by the government?

Thank you very much for your question. The first question is about the impact of the yen depreciation on the business results.

And the second is regarding the review and the revision of the quarterly disclosure, what is our view on it. And regarding the first question, I would like to answer your question.

And the second question will be answered by Matsuoka - san. So regarding the cheap yen, the currency.

This time compared to the previous forecasts, the forecast this time is the currency assumption is the Euro is the one yen higher for yen than JPY131 to JPY130. And so there is a change assumption.

And for dollar, the exchange rate stays at the same level of JPY110. And so this impact has not changed significantly as this indicates.

And this has been already disclosed. And one-yen higher means and what is impact on the consolidated results.

And for the game network service and EPS and I&SS business, one yen higher, means that the in terms of dollar, it's positive, and in terms of Euro, 5.5 billion negative impact is recorded. And that is a simulation that we include for our forecast.

And for music and pictures, the combined, one-yen higher means that in terms of dollar, the Y=2 billion negative impact, and that is impact on the operating profit -- operating income. And so that is a sensitivity that we use for forecast.

Excuse me, dollar is 111 yen. That is our assumption.

So the 1 yen lower. So that is 111 yen versus against the dollar.

The second question. So I will answer the question.

I believe that there are many different opinions on this, but on our part for the policy, the discussion is still underway. And at this moment, I would like to refrain from making any comments that's coming from myself.

Thank you very much. Ayada, from JPMorgan.

Game and semiconductor, I have one question each. First is about games.

User engagement. In the supplementary material, page 9, monthly active user, and member of PlayStation Plus and how you analyze the numbers.

Monthly active users have been decreasing over the past quarters, but it has stopped to decline. And PS Plus members on a quarter on a quarter basis is increasing.

Third Quarter, towards the Christmas period, quarterly, are you expecting that there will be a stop in the decline of MAU and PS Plus? At this timing, we are not expecting that the number will increase.

PS plus collection contributed to increasing the number of members. If you have any ideas, please let me know -- let us know.

My second question. It makes sense that, as usual, capacity and the regrowth of wafer input and actual results.

Also in relation to that, Totoki - san earlier talked about the procurement of logic in the future and this might become a point of concern in the future. But putting that aside for the time being, from mobile customers encouraged from the mobile customers, especially in this area, toward next year, mix will increase with a size becoming larger.

So is there a change as you talk with the customers? What is the focus of the discussion with the customers?

Can you share with us your ideas?

Thank you very much for your questions. Both questions, I am going to respond to both of the questions that you have asked.

First point, MAU, monthly active users and the PS plus members, the trend of the membership. How do I look at to this was the question.

PS plus at the end of June, there was a decrease in the number of members and this was a temporary phenomenon as we analyze. It is not -- what triggered the temporary decline is difficult to pinpoint, but at any rate, it has already hit the bottom.

Second quarter, especially including promotion activities was increased, taking measures to increase their membership. So promotion becoming effective is not the wrong at all.

And the recent strength is such that whether or not to there is a stay-home demand, it fluctuates and difficult to analyze. After the second quarter has ended and the factor of the stay-home demand is -- has already disappeared as we move through the year-end holiday seasons, we look at the current situation as positive and we'd like to come up with a strong momentum.

And then I&SS capacity. The numbers FY '21 second quarter end in total 140K per month.

And the third quarter end, 137K per month it is expected. And this is due to the changing model mix.

And number of wafers input in the second quarter result, three-month average is about 139K. As our first quarter, focus was 138K.

So it is practically about the same level as forecasted at full capacity. In the third quarter, the number of wafers, simple average of three months is 138K.

We are expecting full utilization. And the trend of a larger size as they change smoothly.

The discussion with customers, not only next year, but we're talking with -- looking into the longer future. And as we have it expected in forecast, that trend of larger size is likely to continue.

Specific customer in China is going to drive larger size and the vacuum created by their disappearance is not completely filled. So the pace might slow down slightly, compared to what I have explained last year.

Can you hear me? Thank you.

Hi. The supply chain issue including the pandemic impact and page 22 cash allocation on your slide.

That included I would like to ask two questions, first, about the impact of COVID-19, but to the extent in your presentation you said that in second half of the year compared to last year, you think that there will be a risk of 38 to 40 billion yen. But other than that the game or I&SS, the impact in those categories as well overall and the pandemic impact, how do you see it?

So if you could elaborate on the overall impact on different segments. And in 2nd page, 22 is the capital allocation, and in the 3 years, it was 5.3.

and then capex are more than 2 trillion yen. And TSMC talks is -- once this comes up, which -- and once it's made public, which will be included in?

It's just a hypothetical question. But the reason why I asked is, as an investment size is huge and we hear and we're wondering if there is add-on effect.

I just want to understand the thinking behind this. And other that strategic investment, you said about 120 billion has already been decided.

I believe that India's Zee is included here or if it's not, please said so. More than 2 trillion yen.

I think in terms of the implementation, size is still limited, so can you elaborate?

Thank you for your questions. And well, first your first question about the supply chain risk.

As you have rightly said, for EPS, it is included. And the amount is close to what you are saying.

So this is factored in. Estimated, but if there were other segments, well, I cannot say anything for sure now, but I think those gain network segment which is also producing hardware will be impacted.

But unlike EPS, I believe, that the supply delay and impact on profit and loss will be totally different and in case of PS5, just because shipment is late, it will not aggravate this fiscal year's performance. It's not as direct an impact.

So I think for this fiscal year, the risk is maybe factored in the EPS. That is the current thinking behind what we have put together here for this fiscal year in the forecast.

And now about capital allocation that TSMC. If I talk about TSMC, I will have to go into the detail’s specifics, and it's very difficult for me to explain, trying to avoid that.

But in general terms, if we are going to hold a stake, it'll be a strategic investment, if it's capex, it'll be included under capex. Please understand that to be the case, but this is still under discussion and there is nothing decided.

Please understand that is the current situation. And about the content -- About Z.

Matsuoka-san can explain that, but you talked about whether MZ is included in the strategic investment, which has already been decided? No, it is not included.

And we have to follow up on what happens from here and after. The ones I included on those already decided.

Those are the ones where we have already made an official approval and made a decision. So that is included in the ones that have been already decided.

But in order to get to that stage, Z, as I explained, we are still doing due diligence and nothing is finalized and decided yet.

Thank you very much. My name Nakane from Mizuho Securities.

Can you hear me?

I have two questions. They are not related to the consolidated results this time.

The first question is, Mr. Yoshida mentioned in MLB connected to 1 billion people.

Until games, there are the figures disclosed, but Crunchyroll and Zee maybe included and many other new connections will be emerging. So to the extent possible that Crunchyroll 120 million and that is what you mentioned.

At the end of September, if there is anything that you can disclose, please share that with us. And if possible, at the end of that term, the fiscal year, what is your prospect?

And what way are you going to disclose those figures? And the second question is related to the project in India, and at this moment, under the current mid-range plan on a group basis, how clear the strategy about India is within the group.

And according to my understanding so far, in each business segment has its own strategy and currently, the synergy is emphasized but still it looks like each business has its own. And in India, media network and the pictures and films -- pictures and the music, I think the situation is getting better.

And for instance the collaboration between the different segments like in America and therefore, the regional strategy. If you have any strategy, group wide, please let us know.

Thank you.

So your questions there -- the questions from you, and I will answer 2 questions and the -- Matsuoka-san will supplement my answer. And the connection with 1 billion people -- our challenge for that target.

And that is our long-term vision. And also, that is defined as our aspiration.

That's the way I interpret. And so every quarter or every fiscal year, it's not like something that we show, like subscription.

And so connecting with 1 billion people In order to fulfill that vision, we do need to make investments strategically and that has been executed, and another major are incorporated, and group synergy is also fully maximized. Personally, I believe that throughout a year, we engaged in different kinds of activities and they're the updates about the activities.

And following that cycle, I think we are able to share that information with you. And as for the policy of disclosure, we did not have any -- the finalized one yet.

So what we do and announced it, whether we are able to connect with some billion the people, I hope that you observe the trend and progress and give us your feedback. And second, the question that is the group-wide strategy vis -a - vis India.

In answering that question, there is Sony Live, and within a group in India, this business unit is a very important driver to promote the growth. So that is the reason we engaged in the deal in India.

The information of things through the project and the opportunities for other business areas. And among the top executives within the group, the discussion is constantly held.

So through those dialogues, group synergy will be manifested and realized in my view, and not just limiting this as a slogan, we've liked to translate that into actions. Matsuoka-san, do you have any point to supplement?

The India as you know, is a big area, it's a potential for the great growth. And Sony live -- has been the increasing subscriber size at the end of September, the Y=470 million is a number.

And to there, we're going forward in India, as the Totokis mentioned, now, the video and music. The pictures and music.

We'd like to use the synergy between the two and also going forward, the full gain potential does exist in India. So that potential will be also be taken into consideration.

And a lot of discussions and dialogue has been going on.

Thank you. I'm Ono from Morgan Stanley.

I have a question and confirmation regarding CMOS in the market supply chain. CMOS sensor for mobile, Sony is lowering the price and the market -- the inventory of mobile sensor is getting unhealthy, some people say.

And the to the extent that you can share with us, what are the changes in the mobile, how do you look at the changes in the market? And in relation to that last time at the time of the first quarter results, mobile refer unit price has gone down by 10% year-on-year.

Currently on the monetary amount basis for mobile and for AV camera, the ratio is about 70% to 30% according to my understanding. Including the first question, as you think about the mix in the future, that there's going to be a further focus upon AV or related to the christian by Idasan(ph), custom order we will support next year and go back to mobile, a way to reach out in improvement of profit.

So can you please explain this? Sorry, for the vague question.

Thank you very much for your questions. The market of mobile sensor, how do I look at this market?

If I'm to explain this, mobile market will continue to expand. And of course, for the industrial machine and for AV, stably -- It's stable and the margin is high, but in terms of the size of the market, mobile market is much larger.

You said 70 to 30, but the ratio of mobiles is even higher than that. Well, the inventory level of the sensor market to the extent of my knowledge, the kind of inventory which will have difficulty for negotiation with the customers, we do not hear such voices at all.

Prices, it is in the course of negotiation and discussion with the customers, and the larger number of fixed source and more minute and there is move to pursue both. So depending upon the needs of the customers, we have to grasp for the needs of the customers, and we will be competing in that field where our strengths can be maximized.

So the big trend remains unchanged. The production capacity will be increased as the demand increases, as strengths as R&D.

This policy remains unchanged. That's all from me.

Thank you very much.