Regarding IOWN, we are continuously conducting research but currently believe that its realization is not yet on the horizon.

For the concept to become a reality, not just one company, but manufacturers, especially semiconductor companies, need to engage in research and development. The biggest challenge of IOWN is creating optical waveguides within the semiconductor structure itself, and we recognize that overcoming this technical hurdle is extremely challenging.

Moreover, since most semiconductors used in current smartphones are predominantly foreign products, if IOWN were a technology that could be realized immediately, it would be natural for similar developments to be announced by overseas semiconductor manufacturers.

Even if it were realized, there is uncertainty about whether smartphones using semiconductors developed under this concept would become widespread. Considering the frequency of smartphone replacements, it would likely take considerable time before everyone starts using them.

Given these points, we recognize that the issue might superficially suggest “negative” implications for us, but we do not believe it will have a practical adverse impact on our business environment.