We have steadily decreased the SG&A expenses to sales ratio, and have maintained its level in recent years through various cost reduction measures. In the fiscal year ended March 2009, however, the SG&A expenses to sales ratio rose to 17.8% due to a drastic decline in sales, despite a 4.4 billion yen reduction in SG&A expenses.
For the fiscal year ending March 31, 2010, we expect an 8 to 12% reduction in the SG&A expenses, through reduction in sales related costs as well as extreme cost reduction measures.