We still do not see any signs of improvement in the business environment that surrounds us. In fact, since our last earnings announcement, the situation surrounding U.S.-China trade friction has become more and more chaotic and economic slowdown in China and Europe has worsened. Furthermore, in the industrial equipment market, the recovery of customer capital investment has been pushed out further due to sluggish smartphone demand and continuing decline in memory prices.

Looking at interchangeable-lens cameras, in addition to market contraction centered on entry-class DSLRs, in 2018 we launched three new products that led to a high level of sales in the second quarter of last year. As a result, unit sales for the second quarter this year were down 22% to 1.08 million.

In the full-frame category of the market where price competition is increasing, as a result of prioritizing profitability, unit sales were below our target. However,for interchangeable-lens cameras overall, our unit sales were in line with our plan. As a result, we retained our full-year projection for unit sales. In terms of revenue, we did lower our projection to reflect a change in product mix to our plan. However, in the second half of the year we will stimulate sales through the launch of 5 new lenses for mirrorless cameras.

We will further strengthen our efforts to generate user interest in our mirrorless cameras. As a large percentage of high-end models purchases involve the customer actually handling the model and trying it out before buying, in major cities in Japan and other markets, we will create even more touch points for users, proactively expanding opportunities to actually experience our products.

As for compact cameras, sales were in line with our plan. As such, we maintain our full-year unit sales projection. Through the launch of new products, we will raise the proportion of sales attributable to premium G series models and link this to improved profitability.