Operator: Thank you. Okay. Moving on to [Indiscernible].
Unidentified Analyst: Thank you for taking my question. I have two questions. The first one is investment in Ampere, earlier, Uchida San you said that it took time to conclude the definitive agreement. What kind of discussion did you spend time on in particular? And the other one, it’s not directly related to the financials. Recently, Big Motors is involved in the scandals. And how do you see this. Why am I asking this question? Because this scandal in Big Motors is that this is affecting the insurance premium of the customers and customers may be hesitant to buy cars or own cars as a result because this may have a ripple effect on the automotive industries. So as a car maker, could you give us a perspective of how — what do you think about the scandal of Big Motors? Thank you.
Makoto Uchida: The first question, why Ampere? Well, the definitive agreement, why did we spend more time than we expected. On February 6, we announced the framework agreement and since then we said that we are targeting at the end of March but now we are here end of July. What are the reasons? There are some reasons behind it. In the discussion with our partner, by changing the way we work, to ensure growth of each partner and escalate the alliance. That was the intention of this agreement. So from this perspective, for example, Renault and Nissan does the rebalancing. Why do we have to be on the equal footing? Because in the current business climate, we need to grow in the main battlefield. And to this end, we need to build our own strategy or we may have to look for our partners.
In this process, to start with alliance has been fair and equal, but they were contractual. Of course, capital participation was part of the equation. So, by ensuring equal partnership, we are translating this to the growth of each entity. It’s not only Nissan, but the market is forcing us to do. Looking at the current market, as you may be aware because I have been saying this many times. Traditionally, Nissan used to have a business model not another platform, business model in Japan. We build something in Japan and deliver it into China, U.S., and Europe. But going forward, this no longer — this does not cater to the needs of the customers including the speed that is required. So, we need a big transformation on this front. So that is why we are holding this such discussion with the partner.
So in anticipation of the future, we may — we had a lot of additional discussions where we have to spend time on. And there’s another thing. For 23 years, we have a partnership with Renault and including intellectual properties, clear rules, and in order to adapt to new business circumstances, and transform the company, what should be the basic role and hold the discussion based on the partnership? This was the and we had to discuss on the wide ranging aspects and this took time for us to discuss. And this is more mentally the courage to change, including myself, courage to change was challenge, we tend to take into account what happened in the past. But past is past, so we need to focus on in the future when holding a discussion. That’s where we spend time on.
There were many opinions within the company and understanding different opinions, we decided to move on to the next step and be aligned. That took time. But what we discuss with the partner is that, we need area where we need a clear contract. And there are aspects where we have to work together with the partners and decide what to do as we do. So, after we conclude the definitive agreement, we wanted to focus on discussing about the future growth. So, since middle of June, we have been increasing the speed. And now we were able to sign the definitive agreement. That’s what happened. Second question. Customers we need — we should be faithful in front of the customers. We need to address the customers with face, and that should be done thoroughly.
