Today we presented the 1st quarter report and announced adjustments to the fiscal year 2016 business performance forecast. In addition to being the final year of our current Medium Term Business Plan, we consider fiscal year 2016 to be a crucial fiscal year for bridging over to the next Medium Term Business Plan.
It is vital that we make solid preparations under the growth strategy, which is necessary for the sustained growth we are aiming for. In conjunction with that, however, and in light of the results for this 1st quarter, we have positioned this as a fiscal year for strengthening the profit structure through a program organized around "concentration and selection," "structural reform," and "drastic measures to deal with foreign exchange issues."
We will firm up the action plan in September and intend to report to you again on the subject. We are also fine-tuning the orientations for the next Medium Term Business Plan that we described in April. We will hold to our April approach for a medium to long-term growth strategy while correcting what needs to be corrected and increasing the accuracy of our scenario. A report on this is also slated to be given in October.
As far as Konica Minolta is concerned, we intend to go on tempering and strengthening the earning power of our profit-oriented structure.