For us, last year was truly the first year to have a global structure. There had been overseas
bases such as Shanghai Tateyama - business of Tateyama Advance Company - and other
subsidiaries in Taiwan and the Philippines - business of Sankyo Alumi Company. Last year
in March, two large M&As in Europe and Thailand, for which we have been working for
some time, were realized. Moreover, we built a plant of Sankyo Tateyama Alloy Thailand and
we are now working toward the start of its operation this spring. These are our overseas
activities. The renowned European customers, with which Aleris had business, are trying to
be more and more active in Southeast Asia. With the high technical capabilities of Europe
and Japan as a basis, we will have production bases in Southeast Asia from which we will
supply our products. That means the creation of synergies and that is the story line of our
M&As. I want all of you to understand that well.