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In the automobile segment, Sojitz is developing business in markets expected to undergo long-term economic growth including ASEAN, Russia and newly-independent states, and North, Central, and South America. At the same time, Sojitz is establishing new companies in emerging countries where automobile markets are expected to grow continuously and building partnerships with emerging overseas brands. We are carefully monitoring developments in the economic environment including the debt crisis in Europe, developing comprehensive exposure management techniques, and building a portfolio designed to generate stable earnings.
In the Independent Power Producer (IPP) business, Sojitz was awarded three projects in Saudi Arabia and Oman in 2010, all of which have successfully completed and commence commercial operations in 2013. We will focus on regions where we have strengths including Southeast Asia and five Gulf countries in the Middle East and plan to increase generating capacity (equity-based) to 1,700 MW (including projects under construction) by the end of fiscal 2014.
In the plant business, we received an order for a large-scale steel manufacturing plant in India and large-scale gas-petrochemical plants in the Russia/CIS region. We will continue to expand in key industries including fertilizer, petrochemicals, and steel and develop global sales and services in the industrial machinery business to raise profits.
In the bearing business, we are expanding into growth markets on the basis of our dealer network and parts supply chain.
In the transportation infrastructure field, we are focusing on developing and implementing transportation infrastructure projects mainly in Asia with an eye towards responding to future increases in demand for passenger and freight transportation.
For renewable energy, such as solar, wind and biomass, we are undertaking development of new energy projects globally, meeting the social demands for cleaner sources of energy.
In the aerospace segment, we are expanding business for airframes and related business including equipment, engines, and parts with Boeing, Bombardier, and other manufacturers by closely following changes in needs in the aviation industry. In the business aviation field, we will expand business by targeting demand in Asia through our main base in Guam and its branch in Subic Bay, Philippines. We will also supply equipment to the Ministry of Defense and make contributions in the disaster relief field in cooperation with the Sojitz Aerospace Corporation.
In the marine business, in addition to the traditional income bases including charters, the ship-owning business, and sales and purchase of new vessels, used vessels, and marine equipment trading, we will expand into new environmental sectors such as handling environmental facilities and equipment including ballast water treatment facilities to prevent the introduction of non-indigenous organisms.
In the ICT business, in addition to selling and providing maintenance services for network equipment to domestic communications carriers that Nissho Electronics Corporation, a comprehensive ICT solution provider, specializes in, group companies such as Sojitz Systems Corporation, which performs system development, maintenance, and operation, and Sakura Internet Inc., which operates Internet data centers, are collaborating to implement strategies in response to the start of the cloud computing era with the aim of reforming income structures from flow to stock and developing overseas business with a focus on rapidly-growing Asia.