My quick thoughts after skimming the Q&A summary from the Q1 earnings briefing (^o^)♪

I’ll be checking each question and answer rigorously later, but since it’s an annual routine for them to issue downward revisions alongside the first-half earnings results, analysts were pressing hard on the feasibility of securing profits in the second half ヽ(^o^)丿 On the other hand, there were no questions regarding shareholder returns. After all, the answer would likely be the same regardless of how the question was framed (；^ω^).

Overall, I had a favorable impression as it was a proper Q&A session with numerical questions being answered with numerical data (^o^)♪ As expected, the key to securing profits is undoubtedly passing on costs. There were repeated statements that additional costs would definitely be offset through price pass-throughs.

The Q&A that caught my attention was the final one. It seems that out of the ¥8 billion impact from exiting low-profitability businesses in this Q1 earnings report, ¥2 billion has been realized. Honestly, I didn’t quite understand what that meant. The costs associated with the exit have already been expensed, right? (；^ω^). There are no fixed costs remaining either. What does it mean that ¥2 billion out of the ¥8 billion has been 'realized'? I wasn’t entirely sure.

By the way, depreciation and goodwill combined have increased by ¥2.3 billion compared to the previous period, so the ¥2 billion 'realization effect' mentioned by management is effectively offset on the books (；^ω^).

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