A1 : Our inventories of pianos, which were excessively high in the latter half of the previous period, have declined. In addition, along with the expansion in the sales network in China, sales in regional areas outside the major cities are increasing in the second-tier and third-tier cities. These are main factors accounting for favorable performance.
The outlook going forward is for us to work hard to secure market share. Since the rapid growth rates of 20% year on year experienced two or three years ago will not return, we have shifted from a growth strategy to a competitive strategy.