Kazumi Tamaki
Executive Officer and Head of Public Relations & IR Department

We have reached the hour. We would like to start AGC's fiscal '26 Q1 results briefing. I will be the MC today. I'm Tamaki from Corporate Communications, Investor Relations. I'd like to first introduce who is here on our side. Representative Director, Executive Vice President, CFO, Yoshio Takegawa; Executive Officer, GM of Finance and Control, Tomoyuki Shiokawa. First, our CFO; Mr. Takegawa, will present Q1 fiscal '26 results. And then after, we would like to move on to Q&A. We plan to end at 3:45 p.m. Japan time. Over to you, Mr. Takegawa.

Yoshio Takegawa
Senior Managing Executive Officer, CFO & Representative Director

I am Takegawa, the CFO. Thank you for your time today. First, please look at Page 3. Page 3 shows the key points of Q1 fiscal '26 results and fiscal year '26 outlook. In Q1 results, net sales increased by JPY 38.4 billion, and operating profit rose by JPY 12.6 billion year-on-year. Net sales increased, thanks to the effects of yen depreciation as well as higher shipments in Essential Chemicals, Southeast Asia, and pricing policies effect in Architectural Glass in Europe. Operating profit benefited not only from the above aforementioned net sales growth factors, but also from profitability improvement in Life Science and decline in natural gas prices in Europe. The full year outlook remains unchanged from the announcement that we made in February. We currently expect only a minimal impact from the Middle East developments.

Please turn to Page 6. These are the highlights of