Toray Indus Inc Unsp/Adr (TRYIY) Q3 2026 Earnings Call

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WEBVTT 00:00:00.824 -- 00:00:04.750 Thank you very much for joining us today despite your busy schedule. 00:00:04.750 -- 00:00:09.698 On behalf of Torre Group, I'd like to take this opportunity to extend my gratitude towards 00:00:09.698 -- 00:00:15.828 your continued understanding and your interest in your management and business activities. 00:00:15.828 -- 00:00:20.756 Now, I'd like to report Torre's business results for the third quarter as nine months 00:00:20.756 -- 00:00:25.945 ended December 31st, 2025, and the business forecast for the fiscal year 00:00:25.945 -- 00:00:28.545 ending March 2026. 00:00:30.068 -- 00:00:35.512 Now, I'd like to follow the table of contents shown on page 1. 00:00:36.755 -- 00:00:40.720 This is a summary of the business performance and forecast. 00:00:40.720 -- 00:00:43.863 During the 9 months in FY2025, 00:00:43.863 -- 00:00:48.028 the Japanese economy continued to recover at a gradual pace. 00:00:48.028 -- 00:00:53.053 However, sluggishness in the flow of goods and holding back on purchases were also seen 00:00:53.053 -- 00:00:56.917 in some areas against the backdrop of growing uncertainties. 00:00:56.917 -- 00:01:01.942 triggered by the U.S. policy shift under the Trump administration. 00:01:02.827 -- 00:01:07.936 Amid these circumstances, corporating income of the nine months decreased year-on-year 00:01:07.936 -- 00:01:13.205 to 105.1 billion yen due to the sluggish market conditions 00:01:13.205 -- 00:01:18.354 and the impact on inventory adjustment, although the company worked on business 00:01:18.354 -- 00:01:21.655 structure reform and strategic pricing. 00:01:21.655 -- 00:01:26.942 The full-year focus for cooperating income increased to ¥150 billion 00:01:26.942 -- 00:01:30.524 compared with the previous fiscal year. 00:0...