Idemitsu works with partner companies in diverse industries in Japan and overseas to further expand business, including the launch of joint ventures and new projects. In Japan, we have established joint ventures in the basic chemicals business, the agri-bio business, and more. One example is a collaboration we entered into with NIPPON GREASE Co., Ltd. that entails working together on R&D, the optimization of our product portfolio, discussions on sales channels and other topics, and the regularly exchange of technologies. Overseas, we have established the joint venture Nghi Son Refinery and Petrochemical Limited Liability Company (NSRP), which operates the refinery in Vietnam. In the advanced materials & performance chemicals business, we have partnered with Formosa Petrochemical Corporation (FPCC) to establish Idemitsu Formosa Specialty Chemicals Corporation, which is slated to begin commercial operations in FY2020 as a new production base for hydrogenated hydrocarbon resin.