The incorporation procedures were delayed and completed only in January of this year, which is why we are late with completion of the interior finishing and installation of equipment. Full-scale operation is likely to start in July of this year. Although there is a delay, as the news of the Company launching production in Changzhou spread, we have already received a great number of orders that exceeded our expectations. In the future, we intend to expand transactions not only with Japanese but also with European and American automotive parts suppliers. One of the reasons we chose Changzhou is the fact that in this area we can easily find competent personnel to hire. And the reason for it is that one of the largest industrial educational institutions in China is located near our Changzhou factory, and as there are not many big companies operating in the area, we can find excellent human resources to hire there. I think that many shareholders are worried about investments in China, but many companies in the manufacturing industries have gathered to China from all over the world, and many of these manufacturers depend on Japanese-made parts. Moreover, Japan itself depends on China for food supplies and other products, so even if the two countries are currently experiencing a phase of political strife, I do not think that our relations will aggravate too much.

We see the goal of annual sales growth rate of 10% as the minimum, and every member of staff of every company of the Group is doing his or her utmost best striving to devise ways to achieve it and actually implementing some steps. We shall ensure that the Group does achieve this goal by carrying out measures in various areas including mergers and acquisitions in countries and areas with already developed markets such as Japan, Singapore, Europe, and the U.S.
With North America, we cannot expect further growth of the market as a whole, but as the Group has a competitive advantage over other companies in the same trade, we intend to substantially increase our share there. At the Group's subsidiary in the U.S., the human-wave tactics using large number of sales reps are giving way to the Internet-based marketing. And presently a larger number of new inquiries is coming from the Internet. One important factor that shall strengthen our Internet-induced sales is establishing an organization that can quickly respond to inquiries and steadily find potential needs of the clients. And I think that in the future lessons learned from these measures currently conducted by the Group's subsidiary in the U.S. can be also efficiently employed in Japan and the Asian countries.
On the other hand, in the regions where the market is still growing, we intend to increase our ability to match the clients' needs by steadily strengthening the marketing force and reinforcing our production equipment, making sure that we do not miss any business opportunities. In concrete terms, this last strategy will mainly be utilized in Asia. Also, although we do intend to focus our efforts on developing products for automotive industry, which is the most important market for the Group's sales expansion, we shall also actively promote the products for medical care, housing, and infrastructure markets, since these areas also have large potential for the Group.

Payment of dividends was resumed in the current term for the first time in six terms, and we intend as soon as possible to create and maintain business structure, which would allow us to continue paying high dividends in the future.

To ensure that our shareholders keep the Group's shares for long time, we intend to give a strong message for the future that Advanex is a company your money is safe with, which is why for the next term we plan on adding 0.5 yen so that the dividend is 1.5 yen per share.

By dividing the headquarters into two sections, namely, an operating department providing services to our customers in Japan and a holding company section, which conducts overall management of all the companies comprising the Group including the companies in Japan, we want to find out every wasteful aspect of our operations and raise the efficiency of management. For that purpose, we decisively transformed the sales organization in Japan that used to be structured either by client or by market, restructuring it by area, thus taking the path of reinforcing proposal-based services to customers based on locality. On the other hand, the Global Business Promotion Office, which belongs to the section in charge of the holding function, shall support the transfer of production of our Japanese customers to Asia, establishing an organization for supply of parts by companies of the Group to our clients' local factories and for quality assurance. As a whole, the holding function shall reinforce cooperation between the companies of the Group and optimize operations.

In the current fiscal year, Abenomics made many people across the globe feel that economic conditions will improve from now on, and we at Advanex also believe that current economic policies will lead the economy on the path to recovery. We also expect that for our business also an increase in demand for products accompanying economic recovery will be a fair wind.
One of the tasks we need to address is making sure the company system introduced from April functions well contributing to our business growth. As in the future we plan to actually divide the company into a holding company and an operational company, I think that what we need now is to concentrate on making sure the two sections do function well, which is what we plan on doing in the current fiscal year.

On a short-term basis, the Company finds itself in a severe business environment, but I feel that from the point of view of medium- and long-term growth scenario, we can see our way quite clear. Although business environment that surrounds us is in fact severe, we are currently conducting a structural reform strengthening the Company so as to ensure continued growth. And if we look at the orders for products for automotive market, the prospects for the period from three to five years from now are more stable than before.

One direction we are making efforts in is creating many products we could proudly call the “world's best”, a measure we think will reinforce our business foundation. Even if each individual product is small in size, if we increase the number of “world's best” products, we can afford to stop manufacturing some of them because the impact on the total performance will be negligible. Even if each individual product is small in its scale, we believe that by accumulating products with high profitability fully employing the Companies strengths we can achieve a change of profit profile for the better.