It appears that progress is being made in both business and the environment in each region, with the right balance being struck between the two. In closing, please tell us your region's action plan for business and the environment in the years ahead.
●Iwamura: In North America, we've begun the highly consequential mission of trying to meet the new fuel efficiency standards set for 2025. If we don't clear these demanding targets, we won't be able to continue doing business. Not only do we need to strengthen the competitiveness of our hybrid lineup but we also need to dramatically increase the fuel efficiency of our gas-engine models. Companies that accomplish this efficiently, quickly, and cheaply will be the ones to flourish in this market. For Honda to flourish, we will bring to bear all the power we have as a company, based on close coordination between front-line associates in development, manufacturing, and sales.
●Takedagawa: In South America, we adopted the South America Honda Environment Statement at a regional environmental committee meeting in February 2013. The declaration articulates our decision to put to use all human creativity and wisdom and do our very best to achieve environmental impact reductions and sustainable business activities. As a way of acting on our promise, we plan to develop enough wind capacity to satisfy all the electricity needs of our automobile plant in Brazil, which produces 160,000 units per year. The wind farm is scheduled to go into operation in September 2014 (see page 48). For products, we will market new eco-conscious motorcycle and automobile engines under the name FLEX one and engage in branding activities to show how Honda is an environmental leader.
●Nishimae: In Europe, we plan to meet customers' needs for low emissions, high fuel-economy by revamping all automobile engines over the next three years. We hope to maintain our strong motorcycle reputation in Europe, the biggest market for sport-touring crossover bikes, by leveraging the fuel-efficient NC700 series. Honda's approach in Europe for the coming years will be about bolstering our position as a company society wants to exist while thinking about the environment and offering advanced environmental technologies in all products.automobiles, motorcycles, and power equipment.
●Kobayashi: Asia and Oceania is expected to continue showing impressive growth, but environmental regulations in a number of countries will become increasingly strict. To get the upper hand in this environment we need to expand local procurement and production and find and develop new local suppliers. The key to future business is developing suppliers that can share Honda's position on the environment and will work with us to reduce impacts. Although awareness and activity vary between countries, we hope to speed up progress by actively promoting the sharing of best practices and bringing everyone up to the same level.
●Kuraishi: In China, Honda takes it as its mission to actively increase penetration of eco-conscious engines, the most prominent being the hybrid engine. To that end, we are making preparations to begin local hybrid production within the next three years. As we aim to become the environmental leader and offer the most fuel-efficient products in each category, we will also strive to deliver outstanding value that satisfies our Chinese customers in areas beyond environmental performance as well. By doing so, we hope to be a brand that is well-loved and that encourages positive excitement for the future.
●Minekawa: In Japan, public expectations surrounding renewable energy and the environment have risen tremendously. Honda's technological answer to those expectations actually already exists. All that's left is to determine how affordably we can provide the technologies to our customers. R&D, production, and sales divisions need to work together to figure out how to deliver good products to customers with speed, affordability, and low CO2 emissions. Solving this problem is an important key to achieving higher growth for our business.
Thank you all for your time today.