ANNUAL REPORT 2012

HORIBA, Ltd.
2, Miyanohigashi-cho, Kisshoin, Minami-ku,
Kyoto 601-8510, Japan
Phone: +81-75-313-8121 Fax: +81-75-312-7389

E-mail : ir-info@horiba.com

http://www.horiba.com© 2013 HORIBA, Ltd. All rights reserved.

ANNUAL REPORT 2012

The theme to celebrate HORIBA, Ltd.’s 60th anniversary is “TASUKI: Handing on Omoi.”
A tasuki is the sash worn in an ekiden (long distance relay race). A sash in the corporate color blue, and fivecolors representing the five business segments, forms a “60.” On the sash is the message, “Handing on Omoi.
From our predecessors to the next generation and the world.”
Omoi means an emotional feeling, passion, thoughts, enthusiasm, desire, aspiration, ambition, commitment,
mission, and objective.

01

HORIBA 60th ANNIVERSARYHORIBA will continue to expand our business globallyas integrated analysis and measurement solution supplierwith the five business segments.

Annual Report 2012 | 02

What we have changedin 60 years

03

1953

Number of
employees

HORIBA, Ltd. started out with eight employees in Kyoto in 1953 and has
now become a global company with more than 5,500 people. To contributeto improving people's health, safety and natural environment in the world
through our “measurement technology,” we will continue to invest in thedevelopment of human resources and R&D.

8

Percentage of
non-Japaneseemployees

HORIBA, which has continued to grow in Japan based on its technologicaladvantage, has accelerated its globalization during the past 20 years.
From the second half of the 1990s, we actively engaged in mergers andacquisitions mainly in Europe and succeeded in acquiring many excellent
engineers. At present, 57% of the group’s employees are non-Japanese.

0%

Sales

HORIBA has constantly maintained growth in the analytical and measurement
instruments market for 60 years. From the 1990s, in particular, we actively
engaged in M&A activity overseas. HORIBA’s net sales reached ¥100 billion
in 2005 and increased to ¥144.2 billion in 2007. Currently, overseas sales
account for 61% of total net sales. We will continue to grow to promptly meetthe needs of customers all over the world.

0.01 billion yen

Number ofoverseas groupcompanies

Since establishing group companies in the U.S. and Germany in 1972,
HORIBA now operates 37 group companies (33 overseas companies andfour domestic companies including HORIBA, Ltd.) in 27 countries. We
consider all the group companies in the world as one entity, named it as "OneCompany", and are promoting management efficiency and globalization.

0

Operating income

HORIBA has accelerated its profit growth more than its sales growth.
Regardless of economic upturns and downturns, we have strengthened theearning power of our businesses by continually investing in human resources
and technology. We maintain an operating income ratio of 10% through wellbalanced investment to each business and promoting portfolio management,
which reduces dependence on a single business.

0.62 million yen

HORIBA 60th ANNIVERSARY

1973

1993

2013*

494

1,859

5,530

7%

24 %

57 %

7.2 billion yen

40.8 billion yen

117.6 billion yen

2 companies

6 companies

33 companies

1.6 billion yen

2.3 billion yen

11.7 billion yen(including 35 employees of a non-consolidated U.S. subsidiary at the time)* the amount for fiscal 2012

Annual Report 2012 | 04

What we have not changedin 60 years
Analysis elucidates the unknown in all ages.
HORIBA’s quest toward the future will continue based on the spirit of “Joy and Fun”
together with the analysis & measurement technologies, brands cultivated for 60 years,
and the unchanging messages from our predecessors.

05

HORIBA 60th ANNIVERSARY

The HORIBA Motto

Joy and Fun"Joy and Fun" represents our desire to see all employees performing work that is rewarding and allows them to lead happy andfulfilling lives. We want our people to put "Joy" into their work through their own efforts by making the most of the time they spend
in the workplace. To that end, the company provides places where employees can work with a sense of "Joy and Fun." Furthermore, if
employees do work with a sense of "Joy and Fun," their ability to generate ideas increases, their imagination expands, their efficiency
also rises, and corporate value increases. This results in a "win-win" relationship for customers, shareholders, suppliers, and the society.

Annual Report 2012 | 06

INDEXBusiness Overview
Automotive Test Systems
Medical-Diagnostic Instruments& Systems

19

Semiconductor Instruments& Systems
Scientific Instruments & Systems

01

Process & Environmental
Instruments & Systems

One past,
One future,
One HORIBA

31
07

Index

09

To Our Stakeholders
We commence new step for next
60 years

13

17

Human Resources
Technology

37

Corporate Governance

39

CSR

40

Financial Data

Automotive Test Systems
Segment75

Corporate Philosophy

Message from the CFO

76

Corporate Data

FeatureProgress of the Mid-Long Term
Management Plan

Notation of HORIBA and HORIBA, Ltd.
In this annual report, the HORIBA Group ofcompanies is described as “HORIBA” andthe parent company as “HORIBA, Ltd.”07

Value Creation Based on
Invisible Values

Disclaimer Regarding Future Plans and Forecasts
This annual report contains certain statements describing future plans, strategies, and performance
forecasts of HORIBA, Ltd. and its affiliated companies. These statements reflect forecasts based on
management’s assumptions and beliefs in light of currently available information. Actual performance
may differ significantly due to unforeseen circumstances in the operating environment.

Change of Fiscal Year-End
HORIBA unified its fiscal year-end as December 31, effective from fiscal 2006. As a result of this change, the following irregular fiscal periods were recorded: Fiscal 2006 for
HORIBA, Ltd. and HORIBA Advanced Techno Co., Ltd. comprised the 9 months and 11 days from March 21, 2006 to December 31, 2006; and fiscal 2006 for HORIBA STEC, Co.,
Ltd. comprised the 9 months from April 1, 2006 to December 31, 2006. The fiscal year-end of other consolidated HORIBA subsidiaries was December 31. Their 2006 fiscal periods
remained unchanged at 12 months.

Annual Report 2012 | 08

MESSAGE

To Our Stakeholders

We commence new step for next 60 years
HORIBA celebrated the 60th anniversary of its foundationin 2013.
In Japan, especially in Kyoto, there are many companies
with a history of 100 years or more. These companies all
have similar things in common, such as a firmly establishedmanagement philosophy, investment in human resources,
unceasing innovation, support from customers, or the
harmonization with society. We see our 60th anniversary
as one stepping stone and will continue to grow so that we
can take new leap toward next 60 years.

In fiscal 2012, our balanced management
helped us achieve operating income ratioof 10% despite decreased sales and profit.
In fiscal 2012, ending December 31, 2012, HORIBA posted adecline in revenue and profit, consolidated net sales ¥117.6
billion (down 4.7% year-on-year), operating income ¥11.7
billion (down 21.2%) and net income ¥7.3 billion (down
14.6%). The Semiconductor Instruments & Systems segment
experienced a slowdown in the second half of fiscal 2012,
while the Medical-Diagnostic, Scientific, and Process &Environmental Instruments & Systems segments also
recorded a decline in profit due to factors such as theappreciation of the yen. On the other hand, the Automotive
Test Systems segment achieved an improvement in the
profitability of automotive emission measurement systems
and the MCT (Mechatronics) business turned profitable,
which led to a rise in profit, partly absorbing the negative
impact of other segments. HORIBA’s operating income ratioof 10% is certainly not at a satisfactory level, but it iscommendable that this was a year when the effects ofbalanced management were apparent. Balanced
management counterbalances earnings fluctuation in eachsegment across the entire company through a continued,
well-balanced investment in our five businesses.

Our Mid-Long Term Management Plan isprogressing; Speed is the challenge
Concentrated investment in highly profitable businesses is
one of the strategic policies of our Mid-Long Term
Management Plan, which ends in fiscal 2015, and we havesteadily invested in the Medical-Diagnostic Instruments &Systems segment, where high growth is expected. In
particular, we are making investments to localize reagent
production in the BRICs region, where demand for medicaldiagnostic instruments and systems is expanding.

Chairman, President & CEO

09

Furthermore, we strengthened the management team in Franceand North America, in order to rapidly bring products to themarket and clarify and speed up decision-making processes.
France is an important core base for HORIBA's productdevelopment, while North America has high growth potential.
We are also enhancing cooperation between Japan and France
in the area of product development.
In the Automotive Test Systems segment, we launched MEXAONE, HORIBA’s first new motor exhaust gas analyzer in 17
years. This has become a highly competitive product with areduction in testing and maintenance time and production cost
reduced by 30% - without impairing the highly accurate
measurement property of existing products which sustains our
80% global market share.
Moreover, it introduces the HORIBA ONE PLATFORM, a newsoftware system which enables operation and management of
MCT products and automotive emission measurement systems
with a single operation screen in the future. Orders for MEXAONE are projected to increase with the recovery of investment
in automobile industry.

In the Semiconductor Instruments & Systems segment, wehave made progress in the establishment of a highly efficient
production system at the plant in Aso, Kyushu and at Beijing
HORIBA METRON Instruments Co., Ltd. while HORIBA’s
strength in maintaining new product development has
advanced even during downturns in demand. By establishingand maintaining an organization that can meet customers’delivery requirements during phases of expanding demand, we
aim to further increase our market share.
In the Process & Environmental Instruments & Systems
segment, HORIBA acquired the process measurement
equipment business of the U.S. company Cameron in February
2013, aiming to make a full-scale entry into the business ofmeasurement in oil refining processes. We will expand businessaimed at the petroleum and chemical industries in the state ofTexas, which is benefiting from significant growth in demand forshale gas and oil. Although our investments are steadily
advancing in such ways, the progress toward our target for
2015, an operating income ratio of 13%, is still not satisfactory,
so I recognize that further acceleration is required.

Aiming to achieve sustainable growth andhigh profitability

Planning to realize well-balanced growth inoperating income

Billions of yen
150
ROE

Net Sales (left)

Operating Income Ratio (right)

ROE (right)%
15

Billions of yen
20

20.0

Operating
Income Ratio

120

12

90

9

6

3%
9%

11.7

11.2

3

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 201230%

Semiconductor

8%

22%

19%

5

Medical

30%

21%
58%

0

Scientific

14%

8%

30

Process & Environmental

7.5%

15

10
60

7.5%

Automotive

25%

38%

0

2015

2005

Plan

2012

2015
Plan

2011-2015 Mid-Long Term Management Plan
Concentrated investment in highly profitable business

Complete “one company matrix management”

・Continued investment and steady growth in the Medical-Diagnostic Instruments & Systems segment

・Completion of one company in the Americas throughreorganization in North America
・Implementation in Europe and Asia

Change from strategy led by “technology development” to one led by“customer viewpoint and business models”
・Business expansion and profitability improvement through restructuring of MCT (Mechatronics) business・Market share expansion based on proposing solutions from the customer viewpoint→Develop applications based on the HORIBA ONE PLATFORM (Automotive Test Systems segment)→Expand services through acquisition of the process analytical equipment business in North
America (Process & Environmental Instruments & Systems segment)

Numerical targets

Net sales: ¥150 billion(Fiscal 2012 - ¥117.6 billion)

Accelerate global product development andproduction
・Accelerate opening of reagent plants in the MedicalDiagnostic Instruments & Systems segment→ Establish stable global supply system

・Develop a sales support organization in Southeast Asia

Operating Income Ratio: 13% or more
(Fiscal 2012 - 10.0%)

ROE: 11% or more
(Fiscal 2012 - 7.8%)*Estimates by HORIBA

Annual Report 2012 | 10

MESSAGE

Becoming a stable, highly profitable company
Proposing new analytical applications as a“solution provider”
In order to raise profitability, it is essential not only to increase
sales of equipment (hardware) but also to propose solutions
from the customer viewpoint about what kind of analysis andmeasurement is feasible through its use of that hardware. To
achieve this, I think it is important for HORIBA itself to become
a “solution provider.” This means providing analytical solutions

to current customers while continuing to refine the technology,
quality and cost of the instruments.
Based on the new introduction of MEXA-ONE, the Automotive
Test Systems segment has been able to propose analyticalapplications while providing data and tests themselves. At thesame time, in the case of the process measurement
equipment business newly acquired by the Process &Environmental Instruments & Systems segment in the U.S., theaim is to achieve distinctiveness by embarking on maintenance

Executive Corporate Officer,
Chairman, President & CEO of
HORIBA International Corporation

Senior Corporate Officer,
General Manager of Research &Development Division

Dr. Jai Hakhu

Dr. Masayuki Adachi

Dr. Michel Mariton

Executive Vice President

Chairman, President & CEO

Executive Vice President and General Manager ofCorporate & Segment Strategy Division

Dr. Kozo Ishida

Atsushi Horiba

Juichi Saito

Senior Corporate Officer,
General Manager of Sales DivisionCorporate Officer,
General Manager of Sales & Marketing Division of
HORIBA ABX S.A.S.

Senior Corporate Officer,
General Manager of Finance & Control Division

Takashi Nagano

Bertrand de Castelnau

Sunao Kikkawa

Senior Corporate Officer,
President & CEO of HORIBA Jobin Yvon S.A.S.

(as of April 1, 2013)

Changes in the management structure

Measures taken so far■ Introduced “Matrix Management”
Changed the corporate name and unified our corporate brandRestructured group companies in the Americas and Europe, and organized development bases■ Introduced “Shared services*” in the U.S., Japan and the U.K.
■ Expanded the Blackjack Project globally■ Initiated the HORIBA COLLEGE■ Enhanced head office function■■

Measures to take from now on■■

Expand “Shared services” in Europe and Asia
Implement ERP (Enterprise Resource Planning) systems in all group companies, making it complete*“Shared services” refer to the consolidation of certain common services in several divisions and organizations in order to enhance the productivity of the entire company or group companies and achieve cost reductions.

11Path of change to achieve transformationand services that are closely linked to customers. Furthermore,in the Medical-Diagnostic Instruments & Systems segment,
consumable testing reagents already account for about 50%
of segment sales and have become a major source of earnings
for HORIBA. By providing testing equipment in places of
Point-of-care testing (POCT)*1 such as a doctor’s office for
initial diagnosis or a surgery room, we contribute to reduce
testing time and improve the quality of medical care which
includes adequate diagnosis, nursing care and prevention of
diseases. By expanding business fields that provide solutions
directly linked to the creation of customer value in such ways,
we aim to make HORIBA highly distinct from its competitors,
and I believe this will stabilize earnings while increasing growthand profitability.
At present, non-hardware business including services,maintenance, and consumables generates about 13% of
HORIBA’s sales*2, but we intend to change our focus from astrategy led by “technology development” to one led by“customer viewpoint and business models” so that this ratio
rises to around 20% in the medium term.

Continuing to foster human resources andtechnologies for further growth
HORIBA is promoting management that clarifies “what we willchange” and “what we will never change,” practices we learnedby overcoming several economic crises in the past. What we are
striving to change at present is our management balance andglobalization. “What we will never change” is our continued
investment in “Invisible Values” (assets not visible in the financial
statements) such as human resources and technology. Whileeconomic cycles of recession and boom have repeatedly
occurred, our continued investment has been the driving force
behind substantial growth in subsequent recovery phases. Basedon this experience, we will continue to invest in human resources
and technology as we prepare for future growth. The HORIBACOLLEGE, which began in 2009 to provide educational
opportunities to our employees, has built up the number ofavailable courses, and we have adopted various creative
measures to enable us to secure human resources with abundant
diversity such as the introduction of recruitment of newly
graduates in the autumn period and the continual recruitment ofstudents from overseas. These continuing initiatives to create
value will steadily bear fruit, even during challenging times, andcontinue to generate sources of new growth.

The sashes (“Tasuki” in Japanese) to the next 60 years
HORIBA celebrated the 60th anniversary of its foundation in 2013.
Some of our group companies have continued to grow for nearly
200 years. I am convinced of the fact that companies with such ahistory can continue to display a powerful attraction as a memberof HORIBA Group. This also attributes to the fact that we haveconsistently exercised good management practices based on aunique corporate culture symbolized by the company motto “Joyand Fun.” This corporate culture cultivates the “Invisible Values” ofhuman resources and technologies that are valued worldwide.
We ultimately provide these “Invisible Values” to customers in theform of real “products” that create corporate value and earnings.
We will continue to pursue corporate growth based on theenhancement of our “Invisible Values” and hand over our uniqueculture to the next generation.
Our headquarters are located in Japan, but HORIBA is notanother Japanese company that conducts business aroundthe world. Rather, our objective is to be a truly global company
with the understanding of culture, customs, and values of thecountries and regions where we conduct business in harmony
with the local community and its employees. In 2009 as partof these endeavors, we have welcomed non-Japaneseemployees with management experience in global blue-chipcompanies as executive corporate officers of HORIBA, Ltd.
Three of these executives are currently involved in our global
business management.
I firmly believe that implementing management based on thiscorporate philosophy will lead to sustained growth while creatinga corporate structure that is invulnerable to economic fluctuation.
As a global company we will consequently receive a fair market
valuation from investors around the world.
To reward our owners (shareholders) in 2012, we paid a recordhigh annual dividend, including a commemorative dividend forour 60th anniversary since its foundation. (In 2011, we paid anannual dividend per share of ¥40, and in 2012, we paid an annual
dividend of ¥50, including the commemorative dividend of ¥10.)
For 2013, we have revised our dividend policy that was continuallybased on non-consolidated net income since HORIBA’s public
listing to one based on consolidated net income. At the present
time, we are forecasting an annual dividend of ¥45.
HORIBA will continue to help overcome various issues associatedwith social development, such as environmental pollution, by
supplying analytical and measurement instruments. We will also
continue to supply a wide variety of products in order to provide“assurance” to all people. Furthermore, even at times when ouroperating environment is uncertain, instead of being complacentand running away from risk, or blindly stepping on the brake, we
intend to pursue management strategies which turn risk into
opportunity by correctly ascertaining situations and acting bold.
I sincerely hope that all our stakeholders understand and agreewith our management policies and will continue to support us formany years to come.
April 2013

Atsushi Horiba
Chairman, President and CEO*1: Point-of-care testing (POCT) is defined as medical testing at or near the site where patients are located; in places such as examination and surgery by a doctor or a physician, a hospital ward, or a clinic for outpatients*2: Fiscal 2012 sales excluding sales of testing reagents

Annual Report 2012 | 12

FEATURE

Progress of the Mid-Long Term Management Plan

FeatureDuring 2012, the second year of the current Mid-Long Term Management Plan which ends in 2015,
HORIBA made significant investment for establishing business bases mainly in reagent plants for the
Medical-Diagnostic Instruments & Systems segment, the division in focus, Progress was also achievedin organizational improvement. The state of progress toward achieving profit targets, however, is still notsatisfactory and further acceleration is required.

2011

2015

Numerical targets for 2015

¥150.0Net SalesbillionOperating
Income Ratio

Fiscal 2012: ¥117.6 billion

13 %

11%

ROE*

or moreFiscal 2012 : 10.0%

or moreFiscal 2012 : 7.8%

Assumed exchange rates: ¥80/U.S. dollar, ¥110/Euro * Return on equity

Business portfolios aimed by the Mid-Long Term Management Plan

2010 2015▶

2001 ▶ 2005

2005 2010

Driven by the automotive
segment

Contributed by growth in thesemiconductor segment▶

Profitability

Profitability

35%

35%

More balanced portfoliowith growth in the medical
segment
Profitability

Semiconductor

35%

Automotive
Semiconductor

25%

25%

25%

15% Medical

15%

Medical

Semiconductor
Automotive

15%

Scientific

Medical5%

ScientificProcess &Environmental

-5%

5%

5%

Process &Environmental

-5%
4%

8%

12%

16%

-5%

Automotive

GrowthVertical axis : Operating Income Ratio in the final year

Process &Environmental

Scientific

2%

4%

6%

8%

2%

4%

6%

8%

GrowthGrowthHorizontal axis : Compound annual growth rate of Net Sales

Size of circle : Net Sales volume

2012 results and 2015 plan targets by business segment
Billions of yen

Billions of yen

50

6

46

Net Sales

43

6.0

6.0
Operating
Income

5.0
4.4

34
30
24

25
22

3

20
17
13

2.4

16

2.2

1.5

1.6

1.5

0.9

0

0
Automotive

Medical

Semiconductor ScientificLeft: 2012 Results

13

Right: 2015 Plan

Process &Environmental

Automotive

Medical

Semiconductor ScientificLeft: 2012 Results

Right: 2015 Plan

Process &Environmental

Key measures initiated or achieved by 2012

Automotive

Launched a new emission measurement system
Turned the MCT (Mechatronics) business profitable

Semiconductor Expanded the Aso plant and enhanced production system
Scientific

MedicalExpanded capacity of a reagent plant in Japan
Began construction of a new reagent plant in India
Began relocation and capacity expansion of a reagent plant in Brazil
Brought products sold in Japan to the Asian market

Completed construction of an R&D center in Paris
Acquired electronic beam technologies

Process & Acquired a process measurement equipment business in North
Environmental America to enhance service business (in February 2013)

Key measures to take in 2013
Expand business in India
・Grow the automotive test system business, driven by an increase inautomotive manufacturers' investment.
・Accelerate growth in medical business while completing a reagent
plant construction
・Grasp the chance of growing demand for analytical andmeasurement instruments as environmental regulations are being
established.

Expand presence in North America
・Establish bases on the West Coast (integration of the MedicalDiagnostic, Sientific, and Process & Environmental business bases)
・Accelerate reorganizing the sales channels in the medical business・Promote the process measurement instrument business

Aiming to become a“solution provider”
Market(customers)

Products & SolutionsCore
technology

Application technology

Regulations

In order to bring values to society and raise profitability, it is essential not only togenerate sales of equipment (hardware) but also to propose solutions from thecustomer viewpoint about what kind of analysis and measurement is feasible throughthe use of that hardware. In other words, it is to provide value beyond hardware sales.
To achieve this, it is important for HORIBA itself to become a “solution provider”. Thismeans providing analytical solutions to customers that use hardware while continuing
to refine the properties of the hardware, such as technology, quality and cost. We needto visit our customers frequently and explore their real needs. Then, we will materialize
their needs in our products and bring back to them. What we deliver is not simply
hardware but also data that they need. By expanding our business arena to include
the provision of solutions that are directly linked to customers’ value creation, we aredetermined to differentiate ourselves from our competitors and achieve a small degreeof profit fluctuation as well as high growth and profitability.

Annual Report 2012 | 14

FEATURE

FeatureAutomotive
Test Systems
Segment

Inheriting the no. 1 position in global sales
Since launching the first automotive emission measurement system in 1964, HORIBA has suppliedemission measurement systems for engine development in close cooperation with the world’s automobile
manufacturers for nearly half a century. The new MEXA-ONE product that we launched for the first timein 17 years in 2012 aims to return to the starting point with a fresh approach, as the product name implies.
MEXA-ONE possesses a greatly enhanced measurement system and expanded application software
performance to respond the evolving needs in automotive development.

Expectations for MEXA-ONE

1

The latest trends in engine development, such as hybrid
vehicles and downsizing engines, require increasingly
advanced exhaust gas measurement capability.
Development sites must also support research on motors
and batteries, which includes developing an appropriatebalance with engines, advanced technologies and higher
extensibility. The diffusion of automobiles in emerging
countries is accelerating local needs for automobile
development. We believe the local demand foremissions measurement in these countries will expand
as well. In both cases, the demand for quality, as well
as a lower cost of performance, is much higher thanthat of previous models. MEXA-ONE is a product thatcan satisfy such needs.

2

MEXA-ONE will greatly reduce total costof ownership
Fierce competition among automobile manufacturers is
generating the need for faster, more efficient developmentwith lower cost. As MEXA-ONE has reduced analyzer
response times by 50%, it can substantially shorten
customers’ analysis time. Moreover, costs associated withoverall testing are also sharply reduced. As testing times
for emission measurement systems are generally longer
than those of other test procedures, even a small reductionin power consumption and a lowered requirement for
consumables adds up to a large potential savings.
Compared to HORIBA’s former model, MEXA-ONE has
managed to cut power consumption by 10% and the useof consumables by 30%.

3

MEXA-ONE offers an integrated platform
with a high degree of extensibility
What customers need is analysis data. Analytical andmeasurement instruments need to function more
simply and more quickly. Furthermore, to simplify datacollection and enhance the functionality of systems, it

15will be necessary to seamlessly link and control otheranalytical and measurement instruments. Therefore,
with the introduction of the “HORIBA ONE PLATFORM,”
we envisage that HORIBA’s Automotive Test Systems
segment will make a significant contribution to
the enhanced efficiency of engine and automobile
development by providing total customer solutions that
include combinations with our MCT products.

MEXA-ONE will cater to a variety ofadvanced needs in engine development

4

Customers will be supported by a global
service network
We have established a 24-hour response maintenanceorganization for major customers located around theworld. This is important for HORIBA to maintain highmarket share and gain strong customer confidence.
HORIBA’s global service network provides a high levelof assurance at automobile development sites aroundthe world.

■ Image of HORIBA ONE PLATFORM

Integrated control of analytical and measurement instruments
AC Dynamometer

Flow of emission
Flow meter

EngineCatalysts(Ternary catalysts, de-NOx canalysts, DPF*, etc.)

Engine emission
measurement system

MEXA-ONE

Sulfer analyzer

Solid particulate
measurement
instrument

Ammonia/NOx Fourier transformmeasurement infrared analyzer
instrument*DPF: Diesel Particulate Filter

Expanding the MCT business

1

Improving profitability
The MCT business, which HORIBA acquired from Carl Schenck AG(Germany) in 2005, has continued efforts since the acquisition in cost
cutting, optimal allocation of personnel, and adjustment of production
capacity at factories. As a result, MCT profitability sharply improved in 2012.
In addition, sales growth in China mirrored the expanding investment in theautomobile industry. The MCT business has also managed to expand its
market share among major automobile manufacturers in Japan.
In 2012, we started full-scale operation of the Olomouc factory in the
Czech Republic to produce chassis dynamometers. The new factory isdesigned to substantially boost productivity by optimizing production lines
and reselection of suppliers. These efforts have realized cost reductions
that contributed to the improved earnings in 2012. We aim to continued
improvements in profitability by transferring other MCT production lines to
the Olomouc factory.

2

Revisiting to the source of automobile development

Olomouc factory (Czech Republic)■ Fields where HORIBA aims to expand

market share

Share (%)

100

The MCT business has a total market size of more than ¥150 billion,
including engines, chassis dynamometers, driveline test equipment, andbrake testers. The market has the potential to expand further with growth
into the BRIC countries and investment in electric vehicle development.
HORIBA has an 80%* share of the global emission measurement systems
market, but only around a 10 to15% share of the MCT market. We believe wewill be able to raise this share through customer relationships fostering theconfidence that we have cultivated in the emission measurement systems
business and links to our new MEXA-ONE product.
We are reinforcing our testing laboratories to respond to investment in the
pursuit of fuel efficiency technologies for automobiles and the introduction ofelectric vehicles. At the headquarters of HORIBA, Ltd. in Kyoto, we have set
up one of four testing laboratories as a drivetrain testing laboratory equippedwith a virtual battery system that caters to the need to analyze hybrid
systems and electric motor performance. At the newly opened Shanghai
Technical Center in China we have installed a drivetrain testing laboratory
similar to the one in Kyoto and an engine testing laboratory equipped with
MEXA-ONE. We now have the ability in China to test engines that arebrought in by our customers, which will expand sales and accelerate new
product developments that capture local needs.
*Market share is estimated by HORIBA.

Emissions business75

Fields where HORIBA can
expand market share

50

80 %
25

MCT business

30 %
15%

0
Approx.
marketsize

Driving management
systems & drive recorders¥40 bln
Emissions
measurement¥150 bln¥10 blnEngine performance tests; drivelines Safety, comfort,
tests; vehicles, wind tunnel balances,and ITSbrake tests; motor and battery tests

Shanghai Technical Center’s virtual battery laboratory

Annual Report 2012 | 16

CFO MESSAGE

Message from the CFO

HORIBA is investing for growth and rewarding
shareholders in a balanced manner
Basic capital policy
HORIBA’s basic capital policy is as follows.

Implementing shareholder return linked to earnings growth
Up to 2012:
Payout ratio of 30% of HORIBA, Ltd.’s net income
2013 onwards: Aiming for payout ratio of 30% of HORIBA’s consolidated net income**Target a total shareholder return of 30% of consolidated net income combined with the amount of dividend payments and share buybacks

Select an optimal financing method, responding to capital needs andwith due consideration to factors such as the equity ratio, capital cost,market interest rates, and credit ratings.
Achieving a high ROE (Return on Equity) based on earnings growth
Mid-Long Term Management Plan (2015): 11% or more

Implement a shareholder return policy
linked to earnings growth

Financial policies

HORIBA was the first listed Japanese company to start paying
shareholder dividends based on a payout ratio in 1974 when
listed in the Second Section of the Tokyo Stock Exchange.
This practice has paid dividends to its owners without
interruption for 38 years. Since 2013, we have changed from
dividend policy targeting at 30% of nonconsolidated net
income to the total shareholder return, combined with theamount of dividend payments and share buybacks, targetingat 30% of consolidated net income.

HORIBA maintains an appropriate level of liquidity in hand toensure efficient funding in response to capital requirements.
This is an important guideline for HORIBA’s financing activities.
We define liquidity in hand to be a sum of cash and cash
equivalents and the open amount of the commitment lines thathave been negotiated with financial institutions. At the end of
fiscal 2012, liquidity in hand amounted to ¥43.8 billion, whichwas ¥38.8 billion in cash and cash equivalents and a ¥5.0
billion open balance of commitment lines with banks.

Sunao Kikkawa

Senior Corporate Officer and General Manager of Finance & Control Division

Sunao Kikkawa joined HORIBA, Ltd. in 1974. He was assigned to work at HORIBA Instruments Incorporated (U.S.) in 1982 and returned
to HORIBA, Ltd. in 1988. He was appointed General Manager of the Accounting Department in 1996 and Senior Corporate Officer
in 2007. He made efforts toward globalizing HORIBA’s accounting operations along with the Group’s globalization and maintaining
compliance with international accounting standards. At present he is engaged in raising efficiency in capital strategy and group
administrative operations as Senior Corporate Officer and General Manager of the Finance & Control Division.

17

Dividend payments and total
shareholder return

Growth in accumulated free cash flow

As the economic downturn after the Lehman Brothers Shockin 2008 deteriorated HORIBA’s profitability, our dividend pershare was depressed in 2009 and 2010. However, thanks togrowth in the Medical-Diagnostic Instruments & Systems
segment combined with an earnings recovery in the
Automotive Test Systems segment and the Semiconductor
Instruments & Systems segment, we raised the dividend pershare in 2011 and effectively did the same in 2012 including
a commemorative dividend of 10 yen per share to celebrate
the 60th anniversary of HORIBA, Ltd.
In 2013, we will change the dividend policy to one based on
consolidated net income. After adopting the new standard,
we are projecting a dividend per share of 45 yen based on
our net income forecast of ¥6.3 billion as of February 14,
2013. Based on consolidated net income, the payout ratio in
the past 11 years, from 2002 to 2012, can be recalculated to
21.2%. Although this is a retrospective calculation, thechange from 30% of HORIBA, Ltd.’s net income to 30% of
its consolidated net income increases the shareholder returnby about 40%.

HORIBA continuously makes investments in production
facilities and systems as well as R&D and humanresources from a long-term perspective, rather than basedon the operating performance for a single fiscal year.
Accumulated free cash flow (FCF; operating cash flow plus
investing cash flow) for the five years (from 2003 to 2007)
amounted to about ¥9 billion, due to the heavy initial
capital investment burden associated with implementing
ERP (Enterprise Resource Planning) systems for globalized
operations. However, FCF for the subsequent five years(from 2008 to 2012) expanded to around ¥25.0 billion, as
our operating cash flow expanded even after investments
in plants and an R&D center, in addition to investments inhuman resources and R&D activities. The shareholder
return (the sum of dividend payments and the amount ofshare buybacks) for the same period grew by close to 70%
due to an increase in dividends driven by earnings growthand share buybacks.

Dividend payments and total shareholder returnFive-year accumulated cash flow
%
60

Yen
60

Billions of yen
60■ Dividend per Share (left) ■ Commemorative Dividend per Share (left)
50− Total Shareholder Return (right)[including commemorative dividends and share buybacks]

50

Operating cash flow
50
Investing cash flow
(cash outflow)

40

40

40

30

30

30

20

20

20

10

10

10

Free cash flow

Shareholder return(total)002001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

2013
Plan

0
Sum of five years(2003-2007)

Sum of five years(2008-2012)

Annual Report 2012 | 18

BUSINESS OUTLINE

Business Overview

Automotive Test Systems

Automotive Test Systems

Segment sales

37%

Strong support for automotive development

Emissionmeasurement
systemHORIBA’s automotive emission measurement systems have been adopted as theprimary standard by national certification bodies in many countries. This recognition
has led to a commanding top position in the industry with an 80%* global market
share. Business acquisitions have expanded our product lineup into complete turnkey
systems for automotive development. These test systems are used at the forefront ofresearch and development and quality control. Our test systems are indispensablefor developing new types of engines, such as gasoline, diesel, hybrid electric power
trains and alternative fuel engines. We expect to experience an increase in demandfor our automotive development instruments.
* HORIBA’s estimate

Risk factor

MedicalThe global automotive industry’s shifting R&D investments

Segment sales

19 %Medical-Diagnostic Instruments & Systems

Proactive product development in a large
stable-growth market

Automatic blood
cell counter plus
CRP

HORIBA medical products are primarily blood testing instruments and reagents for thein-vitro diagnostics market, with over ¥2 trillion in global annual sales. The segment’s
business model is based on earnings generated from reagents sales. HORIBA sells
its original small and medium-sized blood cell counters in the diagnostic market
for point-of-care testing (POCT), which is defined as immediate diagnostic testing
during patient care; typically in small hospitals, testing centers, outpatient clinics,
and surgery centers. We are endeavoring to boost instrument sales which will lead toexpanded sales of testing reagents.
Risk factor

Business overview
by region19

Principal products
Emission measurement systems,
automotive emission analyzers,
onboard emission measurement
systems, driveline test systems, engine
test systems, break test systems, drive
recordersMajor customers
Automobile and motorcycle
manufacturers, automotive component
manufacturers, multipurpose motor
manufacturers, government regulatory
agencies, oil companies, automotive
maintenance and repair centers
Product applications
Development of new gasoline, diesel
and hybrid powertrains, vehicle
certification and quality control, in-use
vehicle inspections

Principal products
Equipment for blood sample analysis(hematology analyzers, equipment formeasuring immunological responses,
clinical chemistry analyzers, blood
glucose measurement systems)
Major customers
Medical testing centers, small to
medium-sized hospitals, medical
practitioners
Product applications
Health and diagnostic testing, diseasediagnosis

Changes in medical insurance systems in different countries

Europe

Asia

Japan

23%

22%

39%

of total salesof total salesof total sales

Semiconductor

Segment sales

Semiconductor Instruments & Systems

Contributing to improve yieldin semiconductor manufacturing processes

15 %The semiconductor industry is cyclical but continues to grow. HORIBA’s main
products are mass flow controllers; devices that control gas and liquid flows in thesemiconductor, solar cell, and LED (light-emitted diode) manufacturing process.
Semiconductor products also include many other types of monitoring equipment for
semiconductor production. HORIBA provides customers with high-level solutions that
support technical advances in processing, miniaturization, and yield enhancement.
Mass flow controllers

Risk factor

ScientificSignificant fluctuation in demand caused by the “silicon cycle” in the semiconductor
industry and investments related to LEDs, solar cells, and other energy sources

Segment sales

17

Scientific Instruments & Systems%

Achieve a good balance with unique analyticalmeasurement technologies and business operations
HORIBA provides over 500 types of instruments in the leading edge of scientifictechnology. We command leading market shares thanks to our high-level of analyticaltechnology know-how and enhanced customer support. The Scientific segment
develops basic analytical and measurement technologies, which play key roles inproviding new technologies to other business segments.
pH meters

Risk factor

Investment trend of national government agencies and other institutions
Demand fluctuation following changes in environmental regulations

Process & Environmental

Process & Environmental
Instruments & Systems

Segment sales

12 %Providing analytical and measurement instruments
for compliance with environmental regulations

Stack gas analyzer

HORIBA provides environmental measurement solution technologies in a wide
range of fields for environmental preservation in various parts of the world.
Together with the provision of process measurement technologies which fulfill
analytical needs in manufacturing development, we ensure public safety, security,and health.
Risk factor

Decline in sales prices caused by pricing competition
Demand fluctuation following changes in environmental regulations

Major customers
Semiconductor production equipment
manufacturers, semiconductor device
makers, semiconductor cleaning
equipment manufacturers
Product applications
Flow control of gases and liquids,
monitoring of cleaning fluid concentrations
in semiconductor manufacturing
processes, semiconductor and LCD
quality control inspections

Principal products
Particle-size distribution analyzers,
X-ray fluorescence analyzers, Raman
spectrophotometers, spectrometers,
gratings, pH meters
Major customers
Manufacturers, research institutions,
universities, government agencies,
electric power companies
Product applications
R&D, product quality testing, criminal
forensics

Principal products
Stack gas analyzers, water quality
analysis and examination systems,
air pollution analyzers, environmental
radiation monitor
Major customers
Manufacturers, government agencies,
electric power companies
Product applications
Measurement of gaseous emissions,wastewater and water supplies,
environmental pollution monitoring,
environmental radiation measurement
equipment

Japan• Steady growth and high market shares for products that are related to R&D applications andenvironmental regulations.

Asia• Expect high growth in China, India, and Southeast Asian countries.
• Use know-how accumulated in developed countries to expand business in Automotive, Medical andProcess & Environmental segments.

Americas16%

Principal products
Mass flow controllers, chemical
concentration monitors, reticle/mask
particle detection systems, residual gas
analyzers• High potential for expanding market share in this market that represents 40% of global demand
for analytical and measurement instruments.

of total sales

Americas • Focus on product development and marketing for the medical and semiconductor markets.

• Expand capacity of a reagent plant in Brazil for the Medical-Diagnostic Instruments & Systems segment.

Europe• Sales increase with the effects of the corporate acquisition and the business acquisition.
• Opening of R&D Center in Paris as a core facility for product development in Europe.

Annual Report 2012 | 20

BUSINESS REVIEW

Segment sales

37%

Automotive Test Systems

MEXA has No. 1 global share in emission
measurement systems
Since we developed the first MEXA in 1964, HORIBA has
been a pioneer in emission measurement systems and has
provided the global market with the latest technologies
required for automotive development, meeting requirementsthat have constantly changed with the times. HORIBA’s
emission measurement systems command the top position in
the industry with an 80%* worldwide market share and havebeen adopted as the primary standard by national certification
bodies in many countries and by major global automotive
manufacturers. (*HORIBA’s estimate)
We have delivered over 8,000 MEXA units to our customers.
Going forward, we plan to expand sales of MEXA-ONE, which
we introduced in 2012 against the backdrop of renewed
investment. We are committed to continuing support for
automotive development by responding to rising demand forthe measurement of the emission characteristics of alternative
fuels such as biofuel, and the requirement to measureemissions in more diverse applications such as construction
machinery, ships, locomotives, and general purpose engines.

2013: Anticipate the automotive industry’s
investment for improvement in fuel efficiency
HORIBA recorded an increase in sales and profit in2012, thanks to increased investment by automotive
Sales breakdown
Vehicles 4%
Drivelines
7%

Engines 13%

21

Driving management
systems &drive recorders 7%

manufacturers globally, and improved profitability led byprofit restructuring efforts made by the MCT (Mechatronics)
business unit.
In 2013, we are expecting a strong investment appetiteby automakers globally and gradual recovery in demand,
triggered by Europe’s fuel efficiency requirements andother various new emission standards that are likely to betightened in 2014-2015.

Providing solutions for hybrid cars (HV),
plug-in hybrid cars (PHV) and electric cars (EV)HORIBA’s MCT business provides essential measurement
systems to evaluate power-train efficiency and aerodynamic
performance. These areas are important also for thedevelopment of electric cars and related investments are
expected to increase. We plan to have a complete productline-up based on the HORIBA ONE PLATFORM at an earlystage and aim to expand business and improve profitability
by increasing our market share in Japan, Europe, and
the Americas and accelerating to capture new demand in
emerging markets.
Meanwhile, development of HV or PHV vehicles that use
engines, motors and batteries requires new features inemission measurement systems, and also the emission
measurement need is increasing, particularly in emerging
markets where need for local development is increasing
amid accelerated growth in automotive sales.

Net sales and Operating income
Billions of yen

Sales breakdown by region

60

Billions of yen
Net sales (left)
Operating income (right)
8

45

6

30

4

15

2

Europe 24%

Japan 35%

Other 3%Emission gas
measurement
66%

0

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

2015
Plan

Americas 12%

Asia 29%

HORIBA’S automotive business

HORIBA's automotive segment sales andmajor automakers' R&D spending

HORIBA aims to expand sales and improve profit by focusing

HORIBA's Automotive Segment Sales (left)

investments in driveline measurement systems.

Aggregate R&D Spending by 3 German Automakers (right; Million Euro)
Aggregate R&D Spending by 2 U.S. Automakers (right; Million US$)
Aggregate R&D Spending by 3 Japanese Automakers (right; 100 Million Yen)

HORIBA businessdivisions
Emissionsbusiness

Gasoline &dieselHybridMarket size

Electric(Billions of yen)

Emissions measurement

40

Engine performance tests

100

Drivelines tests

30-

Vehicles, wind tunnel balances, brake tests

15

MCT
business

Motor, battery
measurement
Driving management
systems &drive recorders

Safety and IT

Billions of yen

Million Euro/Million US$/100 Million Yen

60

24,00050

20,00040

16,00030

12,000

20

8,000

10

4,000

10

0

0
2003

2004

2005

2006

2007

2008

2009

2010

2011

Source: HORIBA’s survey based on companies’ disclosed materials

Trend of automobile-related regulations
1. Progression of emission standards by region/county
short-term
Gasoline New
regulations

Japan

U.S.

Carbon dioxide (CO 2) weighted average (g/km)

New long-term Post new long-term
regulations
regulations

short-term New long-term
Diesel New
regulations
regulations

California
Passenger cars
Small commercial Federal
vehicles

2. Automotive fuel efficiency (CO 2 emission) standards of Japan, U.S., and Europe
200 U.S.

Post new long-term
regulations

LEV-II (2004)

Next emission
regulation

LEV-II (2009)

LEV-III ?

Tier-2

Japan: 20.3km/l* Calculated bypreliminary target
amount180

Tier-3?

Japan

160
Euro4

EuropeEuro5Introduced only in Beijing in
2012. Nationwide launch to
be determined.

China

Bharat Stage 2 in Cities

India

120

China 5Nationwide

2010

Europe: 24.4km/l* EU’s regulation implementation
time schedule from 2016 to 2020 isyet determined.
2005
2010
2015
2020
2025
* Fuel efficiency amounts of each region are converted in km/L, only for reference.
Sources: HORIBA’s survey based on materials of the Ministry of Economy, Trade and Industry,
Japan Automotive Manufacturers Association Inc., and others

100

Bharat Stage 4 in Cities Nationwide

2005

U.S.
26.4km/l

17.8km/l

China 3, China 4

Bharat Stage 3 in Cities Nationwide

2000

Europe

140

Euro6

2015

2020

Sources: HORIBA’s survey based on materials of the Ministry of Economy, Trade and Industry, Ministry of Land,
Infrastructure, Transport and Tourism, Japan Automotive Manufacturers Association Inc., and others

Major products and market shares

Emission Measurement
Systems

Driveline Test Systems

80%

53%

15%

7%

World
market share

Segment salesWorldmarket share

Segment sales

These systems continuously and simultaneously measure chemicalcomponents in emission gases over a broad range of concentrations.
They are widely used in R&D and product certification in theautomotive industry.

The driveline is an extremely important power train part that transmitsenergy from engines or motors to the vehicles’ tires. HORIBA’s driveline
test systems use the latest simulation technology for applications in all
types of driveline testing. This is HORIBA’s strength demonstrated byproviding flexible systems for all applications.

Note: Market shares quoted are estimates by HORIBA.

Annual Report 2012 | 22

BUSINESS REVIEW

Segment sales

19%

Medical-Diagnostic
Instruments & Systems

Stable business model supported
by reagent sales
The business model for HORIBA’s Medical-Diagnostic
Instruments and Systems segment features expansion
in the installed base of HORIBA medical-diagnostic andblood sample analysis instruments to generate growing
profits from reagent sales. Our products are used in blood
testing, biochemical and other areas that are directly linked
to assessing personal health. As such, the business is lesssensitive to economic fluctuation, when compared to mostother industries. Another characteristic of this segment
is that currency risk has been diversified by having twobases for development and production, namely, Japanand France. Going forward, we aim to diversify risks andimprove profitability by expanding exports of high-sharedistinctive products from Japan.

2013: Reinforce product supply system forachieving sales growth in Asia
In 2012, Medical-Diagnostic Instruments & Systems
segment sales dropped due to a slowdown in the rate ofincrease of installed equipment in the Japanese market
and the restructuring of sales channels in North America.
Meanwhile, sales were firm in Europe and grew steadily

Sales breakdown
Service andmaintenance 9%

Testing
reagents 51%

in Asia as the region’s increase in the number ofhospitals led to growth of demand for medical diagnostic
instruments.
In 2013, we aim to improve segment profitability by reinforcing
our global reagent supply system in Japan and someemerging countries, and increasing sales of our automatic
blood cell counter plus CRP instrument outside Japan.

Establish a business base for expansion
Regarding test reagents, which are important profit
sources in this segment, our strategy is to initiate
local production of reagents in mass-consumption
areas. The end result is to reduce costs of distribution
and inventory management, to respond promptly
to customer needs, and to improve profitability. In
2012, we improved our supply system in Japan uponcompletion of expanded reagent production capacity
in our Japanese plant in Aso, located on the Kyushu
island. In 2013, we plan to open a new reagent
plant in India, while our reagent plant in Brazil will be
relocated and expanded. Moreover, to expand ourmarket share and improve profitability, we will introduce
our automatic blood cell counter plus CRP, which has
been a strategic product in Japan, in the Asian market
including China and India.

Net sales and Operating income
Billions of yen

Sales breakdown by region

40

Billions of yen
Net sales (left)
Operating income (right)
8

30

6

20

4

10

2

Europe 40%

Japan 23%

Asia 13%
Medical diagnostic instruments 40%002003 2004 2005 2006 2007 2008 2009 2010 2011 2012

23

2015
Plan

Americas 24%

Business development by testing category
Clinical chemistry

Hematology

Immunology

Coagulation

Market size

¥1 trillion¥0.2 trillion¥1 trillion¥0.1 trillion

Hematology analyzer
systems——

CRP counters forasthma medication

Coagulation reagents

Hospitals

Test category

Large hospitals
Testing centers
Small and mediumsized hospitals

Clinical chemistry analyzers

Small and mediumsized hematology
analyzers

Private practitioners
Blood glucose
measurement systems
Hospital units and surgery
rooms (POCT*)*Point-of-care testing (POCT) is defined as medical testing by a physician at or near the sitewhere patients are located such as a surgery ward, a hospital ward, or a clinic for outpatients.

Sales ratio of test reagents in HORIBA’s
Medical-Diagnostic Instruments &Systems segment

Field in which HORIBA exhibits strength

Establishing product supply system
Expand supply of instruments and reagents in Asia

The sales ratio of test reagents has been increasing thanks to theincrease in the installed base of instruments. The ratio has become
stable at around 50-55%.

China:
Product
development andproduction facilities(reagents)%

60

France:Product
development andproduction facilities(instruments andreagents)

50

India:
New facility
for production(reagents)

Japan:
Product
development andproduction facilities(instruments andreagents)

Brazil:Expansion of
production
facilities(reagents)

40
Instruments• Accelerate sale of our automatic blood cell counter plus CRP, a high market shareproduct in Japan, in China and India• Our operations in France are responsible for medium and large-sized instruments,
while Japan produces small-sized instruments.
Reagents• The local reagent supply systems have resulted in cost reductions for distribution andinventory management, thereby improving profitability.

30
20
10
0
2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Dispersion of production bases has lessened the impact of currency exchange rate
fluctuations and thus protects cost competitiveness.

Major products and market shares

Automatic Hematology
Analyzers

Automatic Blood
Cell Counter plus CRP

8%

80%

100%

10%

World
market share

Segment salesWorldmarket share

Segment sales

Blood tests are essential for assessing the health of people and animals.
These analyzers check red and white blood cell counts as well as
hemoglobin concentrations and platelet counts.

This is the first counter in the world to simultaneously measure blood cellcounts and C-Reactive Protein (CRP), which the body produces in response
to internal inflammation, thus facilitating faster and more accurate diagnosis.

Note: Market shares quoted are estimates by HORIBA.

Annual Report 2012 | 24

BUSINESS REVIEW

Segment sales

15%

Semiconductor
Instruments & Systems

Products that fulfill the needs of new markets
and applications
HORIBA’s Semiconductor Instruments & Systems
segment manufactures and markets mass flow controllers,essential components in semiconductor manufacturing
equipment, chemical concentration monitors, used insemiconductor wafer cleaning processes, plus otheressential instruments for the semiconductor manufacturingindustry. In particular, our mass flow controllers have aleading 43%* global semiconductor market share. Those
highly functional products satisfy customer requirements
for improved productivity and performance enhancements
in next-generation miniaturized manufacturing processes.
(*HORIBA’s estimate)2013: Ability to respond to surges in demand
thanks to an increase in semiconductor
production capacity
In the first half of 2012, mass flow controller sales werevery favorable, following the recovery of production
orders by makers of equipment for silicon semiconductor
manufacturing and related products. In the second halfof 2012 sales dropped sharply due to our customers’
downward production adjustment.

Sales breakdown

Other 2%Mass flow
controllers 77%
Wet process monitors 16%

25

Expansion of sales in Asia, supported by strong
trust from global semiconductor makers
Much of HORIBA’s service strength lies in its capability
to support customers in Asia. Our strategy is to expand
our market share by earning more credibility frommanufacturing equipment makers of semiconductors,
photovoltaics, and LEDs, and by developing enhanced,
quality products that satisfy anticipated customer
demand. In addition, we have secured additional
production capacity for the Semiconductor Instruments& Systems segment in the Aso plant, which recently
completed expanded capacity for the Medical Diagnostic
Instruments & Systems segment. We are thus prepared tomeet our customers’ high volume delivery requirements
during phases of expanding demand for manufacturing
equipment. Moreover, we entered into full-scale productionof mass flow controllers at Beijing HORIBA METRON
Instruments Co., Ltd., a joint venture established in China
in 2011. We expect this factory will be well positioned tomeet rising demand in Asia.

Net sales and Operating income
Billions of yen

Dry process monitors 5%

In 2013 we expect the low demand will persist for the firstsix months. Nonetheless, we forecast that the operating
income ratio will improve in the second half of 2013 due toa recovery in demand and the appreciation of the yen.

Sales breakdown by region

30

Billions of yen
Net sales (left)
Operating income (right)
9

20

6

10

3

0

Americas 13%
Europe 6%02003 2004 2005 2006 2007 2008 2009 2010 2011 2012

2015
Plan

Asia 30%

Japan 51%

HORIBA’s Semiconductor Instruments &Systems segment sales compared to worldwide
sales of semiconductor manufacturing
equipment

HORIBA has maintained more than 40%* of the
global mass flow controller market since 2009.
We successfully met our customers' needs in the semiconductor
industry during a downturn phase in investment for manufacturing
equipment, which started in 2009 and lasted until a recovery in2010. During this period we launched new products and expanded
production capacity in anticipation of the 2010 market recovery.
In our view, this can be attributed to the success of our balanced
management, which minimized the reduction in manufacturing
investment and production capacity during a significant downturnin the market. (* HORIBA’s estimate)

Trillions of yen
Billions of yen
30
6Worldwide sales of semiconductor manufacturing equipment (left)
HORIBA's semiconductor instruments & systems segment sales (right)

5

25

4

20

3

15

％

50
45
40

2

10

1

5

35
30
25
20

0

0
2003

2004

2005

2006

2007

2008

2009

2010

2011

2003

2012

2004

2005

2006

2007

2008

2009

2010

2011

2012

Mass flow controllers’ sales breakdown by application
Silicon semiconductors

Solar cells

LCD

LED(MOCVD)Other

The sales percentage of mass flow controllers for silicon semiconductor

manufacturing equipment temporarily declined due to strong demand for
Siliconequipment to manufacture LEDs and solar cells. However, a reasonable
semiconductors sales volume was maintained by new investment in equipment to produce

2012

the next generation of miniaturized semiconductors.

2011
2010

LED (MOCVD)

Sales for LED manufacturing applications have expanded to include Metal
Organic Chemical Vapor Deposition (MOCVD*). Sales for LED manufacturing
equipment surged in 2009, thanks to strong growth in LED production
capacity. However, sales for LED manufacturing have been affected by aslowdown in production equipment orders since the latter half of 2011.

Solar cells

Our sales into the solar cell manufacturing market expanded in 2009 thanks
to a strong solar cell market, However, since mid 2011 the sales wereaffected by the same slow down in production equipment orders as LEDs.

2009
2008
2007
0%

20%

40%

60%

80%

100%

* Metal Organic Chemical Vapor Deposition (MOCVD) is both a method and apparatus that use
organic metal and gas to produce crystal. The process is extensively used in manufacturing LEDs.

Major products and market shares

Mass Flow Controllers

Chemical Concentration
Monitors

43%

77%

80%

16%

World
market share

Segment salesWorldmarket share

Segment sales

These high-precision gas and liquid controllers regulate flow rates insemiconductor manufacturing processes, typically in thin-film formation
processes. They are also indispensable components for high quality
semiconductor, LED, and solar cell production.

These compact units are used in semiconductor manufacturing to monitor
concentrations of chemical cleaning agents. They ensure cleansing fluids
are precisely delivered and properly used, thereby optimizing the cleaning
process and boosting production yields.

Note: Market shares quoted are estimates by HORIBA.

Annual Report 2012 | 26

BUSINESS REVIEW

Segment sales

17%

Scientific
Instruments & Systems

HORIBA’s technology for nano-metermeasurements provides essential data analysis
solutionsBehavior of nano-meter sized atoms and molecules
have been highlighted in microscopic analysis. HORIBA
solutions for data analysis support advanced researchthat ventures into unknown territories where discoveries
may lead to new materials or advanced, high-tech
products. In addition, HORIBA’s analyzers are widely usedin foreign-object examinations and defect analysis forfood, drugs, electronic components, criminal investigation,
and archaeological work.

2013: Expect recovery in industrial sales instep with the upward trend of government
spending in many nations
In 2012, despite the Scientific Instruments & Systems
segment solid sales of new pH meters and other products
in Japan, sales declined from the previous year due tolower government spending in various nations and theappreciation of the yen against foreign currencies.
In the beginning of 2013 the yen started depreciating
against other currencies, a trend which is expected toSales breakdown

Opticalcomponents 17%

27

Support for basic research in next-generationenergy sources and R&D of HORIBA’s otherbusiness segments
Global demand is growing for products manufactured
by HORIBA Jobin Yvon S.A.S. (France) for data analysis
and basic research for organic and inorganic materials
such as rare metals and advanced lithium ion batteries,
which are expected to become a core component in
next-generation automobiles. Specific products include
diffraction gratings, fluorescence spectroscopy, andRaman spectrophotometers, which command a No. 1
global market shares (HORIBA estimate). We expect
to increase our global sales as the markets respondto tighter regulations and more government spending,especially in the BRIC markets. In addition to productdevelopment, the Scientific segment continues to invest inbasic research and provide new technologies to our otherbusiness segments.

Net sales and Operating income

Particle size analysis 11%
Water
qualityanalysis
10%

recover the competitiveness of HORIBA’s products.
In Japan, the implementation of the government’s
supplementary budget is expected to lead to a growth insales with stronger investments by our customers.

Billions of yen

Other 6%

Molecular &microprobe
36%

Sales breakdown by region

30

Billions of yen
Net sales (left)
Operating income (right)
3

20

2

10

1

0
Elemental analysis 20%

Europe 27%

Japan 35%02003 2004 2005 2006 2007 2008 2009 2010 2011 2012

2015
Plan

Americas 20%

Asia 18%

HORIBA Europe Research Center completed
Construction of our new HORIBA Europe Research Center began in2011 and was completed in October 2012.
The Center is located next to the École Polytechnique, the renowned
French engineering institution. We will use industry, academic, andgovernment joint research opportunities to quickly ascertain future
customer needs and accelerate development of new products tomeet these new requirements. The sales team of the Medical–
Diagnostic Instruments & Systems segment of HORIBA ABX S.A.S.
is also located in this facility, which serves as the high technology
showcase for our European operations.

Exchange with students at École Polytechnique

The products of HORIBA, Ltd. and HORIBA Jobin Yvon S.A.S. in the global market
HORIBA’s products from the Scientific Instruments & Systems segment have made significant contributions to the R&D of advanced technology. We
currently focus on the following four market applications: analysis of organic and inorganic materials, research for lithium ion rechargeable batteries,
and material development for drug discovery and biotechnology. We are responding to the need for analysis in these markets with a wide range of
products for our customer base in corporate research centers, academic institutions, and universities.
HORIBA, Ltd.
Target market
Organic
material
analysis
Inorganic
material
analysis
Lithium ion
battery

Application

•
•

•
•

•

pH meterParticle- size
distribution
analyzer

X-ray
analyzer

HORIBA Jobin Yvon
Metal
analyzer

Grating

Raman
spectrophotometer

Fluorescence
spectroscopy

Ellipsometer

GDS

Organic EL lighting
Fuel cell electrolytic solutions
Carbon materials
Rare metal materials
Positive/negative electrode,
separators, electrolytic solutions

Drug discovery basic research toquality assessment• Formulation mapping•

Drug discovery

Sales balance by client category
Sales of HORIBA Jobin Yvon products in the academic
and public sectors outside Japan are proportionally higher.
Hence the fluctuation of global sales due to economic
conditions in Japan is somewhat limited. We will focus on
increasing sales of HORIBA Jobin Yvon products into theJapanese market.

Sales breakdown in 2012
■ Private sector

Outside Japan

35 %

65 %
80 %

Japan

■ Academic and public sector

20 %Majorproducts and market shares

Raman Spectrophotometers

pH Meters

30%

16%

50%

8%

World
market share

Segment salesJapanmarket share

Segment sales

Raman spectroscopy is a spectroscopic technique that effectively identifies the chemicalcomposition of physical materials and analyzes molecular structures. In recent years, Raman
spectroscopy has attracted attention for new applications in material research. Raman scattering
is typically very weak, so a highly-sensitive and optimal optical design is necessary. HORIBA Jobin
Yvon’s outstanding know-how in optics-related technology has been successfully applied in thecore development of our extremely high performance Raman spectrophotometers.

HORIBA is recognized as one of the top pH meter brands beginning with a history of its
development of Japan’s first glass electrode pH meter in the 1950’s. HORIBA offers a fullpH product line to satisfy diverse customer needs ranging from desk-top models to support
laboratory research to rugged instruments for field applications measuring river water,
groundwater, and waste water.

Note: Market shares quoted are estimates by HORIBA.

Annual Report 2012 | 28

BUSINESS REVIEW

Segment sales

12%

Process & Environmental

HORIBA supports global environmental measuresand new energy industries
We provide analytical and measurement instruments fora wide variety of applications to measure air, water, andsoil constituents. We supply these instruments to various
industries whose work is essential for environmental
emission reduction and process monitoring. We play
an important role in gas measurement and monitoringof industrial liquid waste in the electric power, steel,and chemical industries as well as energy industries
including oil refining, and heavy chemicals; purified
water management for medical and semiconductor use;and constant monitoring and control of water quality
in the pharmaceutical, food, and cosmetic fields. In
addition, HORIBA’s accurate measuring technology helps
ensure public safety through environmental radiologicalmeasurement, demand for which has expanded since theGreat East Japan Earthquake of March 2011.

2013: Focus on demand trends for stack gas
analyzers and environmental radiation monitors
In 2012, demand for environmental radiation monitors
gradually declined in Japan after the rapid increase

Sales breakdown
Other 15%

Stack gasanalysis 37%

following the Great East Japan Earthquake, while demand
for stack gas analyzers at thermal power plants was firm.
In 2013, we are currently forecasting declining profitson higher sales, as demand for environmental radiation
monitors is expected to drop further.

Aiming to become global No. 1 in theenvironmental regulation business and expandin the process measurement field
HORIBA is determined to grow its market share in the
global environmental analytical instrument market,
estimated at ¥150 billion, by utilizing its accumulated
know-how and experience in Japan, Europe, and theAmericas. We also aim to expand our market share in
the water quality measurement field, by giving addedemphasis to pH measuring technology, a HORIBA's corebusiness since its foundation in the 1950’s. Moreover,
we will further develop business by leveraging HORIBA’s
expertise in the environmental and analytical instrument
markets in Asia and other emerging nations, where
demand is projected to grow rapidly. In addition, theprocess measurement equipment business we recently
acquired will be important for our development ofbusiness in energy and chemicals.

Net sales and Operating income
Billions of yen
20

Sales breakdown by region

Billions of yen
Net sales (left)
Operating income (right)
4

Europe 12%
Americas 7%

Air pollution
analysis 15%

29

Water quality
analysis 33%

15

3

10

2

5

1

0

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

2015
Plan

Asia 13%

Japan 68%

Target market: Environmental regulation market
HORIBA has a leading market share in
Japan in continuous emission monitoring
systems used in plants and other facilities
that generate gaseous emissions and soot.
Our instruments have established extensive
credibility for the robust application designof their sampling systems, which areessential in continuous measurement of avariety of gases. The analyzers are used tosatisfy regulatory requirements or processcontrol needs in system applications for
power generation, petrochemicals, steel,paper, foods and pharmaceuticals.

HORIBA‘s products are used formonitoring and control in water treatment
processes. We have a wide-ranging water
quality product line to measure pH, thebasic water quality indicator, as well as
chemical oxygen demand (COD), total
nitrogen, and total phosphorous. They
have been highly evaluated in the water
quality analysis field by municipalities andcompanies in the electric power, gas,petrochemicals, steel, paper, foods, andpharmaceuticals industries.

HORIBA’s air pollution analyzers have wonhigh acclaim in the field as highly reliable
analyzers that demonstrate excellent
precision and long-term stability at ppb*
concentrations. They are used in over 50
countries to monitor air quality by municipal
governments and industrial companies.
Demand has been expanding for PM2.5related monitoring.
*ppb: parts per billion. One part per billion denotes one
part per 1,000,000,000 parts. This notation is mainly
used for describing small concentration measurement.

Stack Gas
Analyzers

Air Pollution
Analyzers

Water Quality
Analyzers

Acquisition of a process measurement equipment business in North America
In February 2013, HORIBA acquired the process
measurement equipment business of Cameron, a Texasbased U.S. company that mainly focuses on products
and services for oil and gas drilling and refining.
HORIBA has taken over facilities and personnel ofthe acquired business and will provide a full rangeof measuring equipment and maintenance service
to customers. Through this acquisition, HORIBA
aims to enter the process analytical business andrealize synergies by integrating the newly acquired
process know-how and technologies with HORIBA’s
existing expertise. As a result, we are forecasting a six
fold growth in combined sales for our Process andEnvironmental segment sales in the U.S. by 2018.
HORIBA’s new facilities integrate gas and liquid measurement devices
used for processing of petroleum, ethylene, and other products. The
acquired business markets turn-key packages and systems coupled withmaintenance and service contracts.

Major products and market shares

Stack Gas Analyzers

H-1 series of industrial
water quality analyzers

50%

37%

20%

33%

Japan
market share

Segment salesJapanmarket share

Segment sales

These analyzers provide highly sensitive and precise measurements of NOx, SO2, CO, CO2, and O2
constituents in gases emitted by boilers and furnaces in thermal power stations and refuse incineration
facilities. A single unit can simultaneously and continuously measure all five gases. HORIBA has aleading market share in this competitive market with over 50 competitors.

Note: Market shares quoted are estimates by HORIBA.

The H-1 industrial water quality analyzers perform in a wide range of applications from pure water for
semiconductor and food to water treatment to sewage and industrial wastewater. They confirm progressin wastewater treatment processes and control water treatment equipment. Moreover, we have developed
pH electrodes that resist damage in harsh environments by strengthening their toughness, thereby
reducing the frequency of electrode replacement and maintenance operations. In overseas markets wherecompetition is intense, we will be unifying these products with HORIBA Advanced Techno’s brand of water
quality analyzers to enhance customer satisfaction while utilizing the strengths of HORIBA, Ltd.

Annual Report 2012 | 30

VALUE CREATION

Invisible values

Assets that do not appear
in the financial statements
Human resources
HORIBA recognized its employees as themost precious assets. A core objective of
Americasacquisitions is to acquire highly competent13%
human resources. Constructive acquisitions
have raised HORIBA’s ratio of non-Japaneseemployees to 57%. This high ratio was not
Europe32%
achieved by pursuing low-cost overseas
labor forces. In fact, HORIBA has acquiredvery talented people, many holding doctorate
degrees, through the acquisitions. This
makes us a very unique Japanese company.

31

Technologies
Japan
43%

Ratio ofemployees byregionAsia ex. Japan 12%

Technological development is the most important growth
driver that will enable HORIBA to achieve the current
Mid-Long Term Management Plan targets: ¥150 billion inconsolidated net sales and an operating income ratio of
13% or more. We firmly believe that technical development
is the lifeline of a manufacturer such as HORIBA.
To make an analogy, technical capability is a form of basic
physical fitness, which cannot be maintained without
continual training and exercise. Using this analogy, HORIBA
needs to keep training in order to maintain the power tomake a dash forward in a recovery phase of the economy.

Creating value by using our “Invisible values” is one of HORIBA’s
important management philosophies.
The fruit (earnings) and the trunk with branches and leaves (the balance sheet), are both
visible and important values. However, we believe that the essence of good management
is to grow strong thick roots (invisible values) in rich soil (corporate culture).
We do not believe that a management’s emphasis on maximizing short-term earnings
and neglecting investment in invisible values will foster sustainable growth or increased
corporate value.

Rationale ofinvisible
valuesThe number of fruit and the value ofthe harvest are important,but it is more important that the roots
are growing strong.

Customers

Organizational structures

BrandsHORIBA helps improve people’squality of life in a sustainable society
by supplying products and providing
services to customers. We think it isimportant to provide solutions in addition
to supplying hardware (instruments). In
order to achieve this goal, we collaborate
with suppliers and group companies
in Japan and overseas to improve thequality of our products and services.

HORIBA operates five businesses in 27
countries. We believe it is important that ourcompetent employees in each business andeach region take the initiative in promoting
their business and that we have the cohesive
power to sustain HORIBA as an integrated
group. With that aim, we are spreading our“Joy and Fun” corporate culture into ourglobal groupwide operation and promoting“One Company Matrix Management.”

HORIBA works on growing Invisible
Values in human resources, technologies,
and its corporate culture. Invisible Values
are essential in generating future earnings
and enabling enterprise continuity, whileachieving numerical targets for net sales,
profits, and other indicators.
We believe that these efforts arereflected in raising the value of the
HORIBA brands.

Annual Report 2012 | 32

VALUE CREATION

Value Creation Based on Invisible Values

Without being swayed by economic upturns and downturns HORIBA has consistently invested inhuman resources, which are precious “invisible values” of the company.
The foundation for sustainable value creation is the understanding each HORIBA employee has ofour corporate motto “Joy and Fun” and corporate culture that is symbolized by “Open and Fair”
and “entrepreneurial spirit”, and puts this heritage into practice in his or in her role.
We have established a global personnel development and exchange program for all our employees.

33

Human Resources
HORIBA COLLEGE
The HORIBA COLLEGE hosted 21 courses for around430 attendees in 2012 at the training center called “FUN
HOUSE”. Since its opening in february 2009, the numberof courses has reached about 100 and the total numberof attendees is almost equal to the number of employees
based in japan. Our employees teach and learn fromeach other. Our ultimate objective is to ensure that

HORIBA’s know-how and skills that have been accumulated
over 60 years will be inherited by the next generation. Our
belief is that the expert knowledge and experience directly
linked to our business operations should be maintained bysharing them within the group. Implanting HORIBA’s
corporate culture at the same time leads to the effective
development of high-quality personnel.

GLOBAL Strategy/Budget MEETING
HORIBA holds Global Strategy/Budget Meetings, wheregroup companies’ management and executives get
together to discuss business strategies, budget, andvarious other matters in English. It is held twice a year
since 15 years ago with the aim of facilitating smoothglobal business execution. We believe that face-to-facecommunication is critical in sharing management issues

among group companies globally and accelerating the
speed of decision making.
Global Strategy/Budget Meeting Participants
Countries
20

Number of participants200

Non-japanese participants (left)
Japanese participants (left)
Participating countries (right)

160

16

120

12

80

8

40

4

0

0
2005

2006

2007

2008

2009

2010

2011

2012

Global Strategy/Budget Meetings were attended byparticipants in as many as 11 countries in 2012.

U.K.
FranceGermany

Japan
South Korea
China
ThailandU.S.

Singapore

BrazilIndia

Annual Report 2012 | 34

VALUE CREATION

Value Creation Based on Invisible Values

Technical development will accelerate
further growth

Comparison with other companies – operating income
ratio and ratio of R&D expenditures to net sales
Operating Income ratio

The development of analytical technologies and engineering
technologies is the core value of HORIBA as an analytical andmeasurement equipment manufacturer. Based on the strategy ofmaintaining R&D investment at 7-8% of sales, we have been
continuing to invest during economic downturns, while ourcompetitors have reduced their investments.
This strategy has boosted our market share during subsequent
upturn phases. In 2009-2010, our sales declined sharply, but wemaintained the same level of R&D investment. We firmly believe thisinvestment will contribute to our future growth. HORIBA aims to
improve the efficiency of our R&D investments and realize a higher
operating income ratio.

AbbottLaboratories

20%

Operating Income Ratio Target of
HORIBA's Mid-Long Term
Management Plan

15%

R&D expenditures (left)
R&D expenditures to Net Sales (right)

Sysmex2011

R&D expenditures and R&D expenditures to net sales
Billions of yen
12

Agilent
Technologies

%
10.0

10%

Thermo Fisher
Scientific

Canon

2005

Siemens

HORIBA2012

RigakuShimadzu

9

2000

7.5
5%

Yokogawa Electric
PerkinElmer

6

5.0

3

2.5

0

0
2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

0

5%

10%
15%
Ratio of R&D Expenditures to sales

Other companies’ information is extracted from their disclosed materials: Financial resultmaterials of the fiscal year ended December 2012 for non-Japanese companies and Canonand those of the fiscal year ended March 2012 for other Japanese companies

From core technology to product development
HORIBA allocates its R&D resources to specific analytical technologies and apply them to product development in fivedifferent business segments and achieves product releases efficiently.

Infrared measurement
Technology for real-time analysis of elements in gases

HORIBA’s
major analysis
and control
technologies(selected on thebasis of salesize importance)

Gas flow control
Technology to measure and instantly control the flow of gases

Particle-size distribution analysis
Technology to measure particle diameter and particle distribution

Spectroscopic analysis
Technology for analysis of visible light

35

Automotive

Process &Environmental

Scientific

●

●

●

●

●

●

Medical

Semiconductor

●
●

●
●

●
●

Technology
Aiming for management of global development and services
HORIBA's technical journal “READOUT,” which has been
issued since 1990, publishes variety of technical informationand messages globally. Mr. Atsushi Horiba, current president,
contributed an article to No. 2 issue in 1991 entitled “Global
R&D.” “READOUT” featured Asia in 2010, America in 2011,and Europe, the largest base of the HORIBA Group, in 2012
with the No. 39 issue.
These three were originally edited and issued in English. For
example, over 70% of technical research papers and articles
in the No. 39 issue were written by HORIBA’s overseas
personnel and over 20% were contributed by our customers
in Europe or professors who are engaged in joint researchwith us. Having global R&D bases which are capable of such
publication is one of HORIBA’s strengths.
HORIBA, Ltd. implemented an organizational change in2011, and has been strengthening a function-based acrossthe-segment R&D activities under a newly-established R&D
Division. As the next step, we are focusing on improving the
global headquarters’ functions of our entire global R&D

activities. Being strongly oriented towards organic integration
with our overseas acquisitions, HORIBA sees its technicalcapabilities extending around the world as a set of values
that is not limited to a region or a business domain. The
ultimate goal is to enhance the efficiency of HORIBA’s global
technical assets. We take full advantage of our global
collaboration in technology development. This is one of thekeys for our growth.

Breakdown of contributors to readout No. 39 issue
Outsideresearchers
24%
HORIBA’s
japanese personnel
2%
HORIBA’s
non-japanese personnel
74%

HORIBA's technical journal “READOUT”“READOUT” is a technical journal issued by HORIBA since 1990. The name "READOUT"
represents our sincere desire to offer whatever the necessary information to read because wewould like to have our company's proprietary products and technologies well understood. The
journal is issued both in English and in Japanese and is widely distributed to variety of people
overseas including customers.

The latest No. 40 issue
The latest No. 40 issue focuses on analytical andmeasurement applications. In order to raise profitability,
HORIBA finds it important to make proposals tocustomers about what kinds of analysis andmeasurement can be performed by using hardware,rather than simply selling equipment (hardware). Thisessentially means being a “solution provider”. From thisperspective, the latest issue introduces what kinds ofanalysis and measurement can be conducted withHORIBA’s various analytical systems and how they cancontribute to technological innovation.

Cover of Readout No. 40 issue
Contents of Readout No. 39 issue

Annual Report 2012 | 36

CORPORATE GOVERNANCE

Corporate GovernanceCorporate governance philosophy
HORIBA fully recognizes the importance of its shareholders as the company’s owners. Since the 1950’s, when Japanesecompanies paid little attention to corporate governance, HORIBA has pledged to conduct its corporate affairs by the following
policies which focus on our responsibility to the company’s owners.

Appointment of outside directors andcorporate auditor
To avoid managing with an introverted approach, HORIBA has
always appointed directors and corporate auditors fromoutside the company. This practice started with thecompany’s origin in 1953 and has been continued through tothe present day.

Implementing shareholder return linked toearnings growth
HORIBA was the first listed Japanese company to start paying
shareholder dividends based on a predetermined payout ratio
in 1974 when the company was listed in the Second Sectionof the Tokyo Stock Exchange. From 2013, we will change thebase amount of profit returns to shareholders from 30% of
nonconsolidated net income to 30% of consolidated net
income combined with the amount of dividend payments andshare buybacks, so that shareholder returns are more directly
linked to consolidated performance.

informal get-together event is held afterwards to enable
shareholders to talk directly with the management.

Adoption of a corporate officer system
Since 2005, HORIBA has decreased the number of
directors to five members to prevent the Board of Directors
meetings from becoming inflexible and to promote lively,
in-depth discussion. In addition, we introduced a corporate
officer system in 1998 to augment managerial capability.
At present, HORIBA has 18 corporate officers including
three non-Japanese. One of them is Dr. Jai Hakhu, whojoined HORIBA in 2010 and now serves as a head of
HORIBA’s U.S. operation.

Number of board directors and corporate officers

1997

2013

Directors: 9 (including 2 outside members)

Corporate officers: 18 (including 3 non-Japanese)Open general meetings of shareholders
Since its initial stock listing in the Second Section of the
Osaka Securities Exchange in 1971, HORIBA has encouraged
all shareholders (whom we frequently call owners) to attend
the annual General Shareholders Meeting. These meetings
are held on Saturdays to facilitate public attendance. An

Directors: 5 (including 1 outside members)(As of April 1, 2013)

Board of directors and auditors

Corporate officer

Chairman, President & CEO Atsushi Horiba

Executive Corporate Officer Dr. Jai Hakhu

Executive Vice President

Dr. Kozo Ishida

Senior Corporate Officer

Executive Vice President

Juichi Saito

Managing Director

Fumitoshi Sato

Director (Outside)

Masahiro Sugita

AuditorToshihiko Uno

Auditor (Outside)

Kanji Ishizumi

President of the Law offices of
Chiyoda Kokusai, Attoney at Law

Auditor (Outside)

Keisuke Ishida

Chairman of the Board, CEO, Shashin Kagaku Co., Ltd.
Chairman of the Board, SK-Electronics Co., Ltd.

Dr. Michel Mariton
Dr. Masayuki Adachi
Sunao Kikkawa
Takashi Nagano
Dr. Kiyoaki Hara

Auditor of MSD K.K. Auditor of The 77 Bank, Ltd.
Corporate Officer

Hideyuki Koishi
Bertrand de Castelnau
Yuichi Muroga
Atsushi Nakamine

Junior Corporate Officer

Seiji Usui
Hiroshi Kawamura
Narihiro Oku
Tadao Nakamura
Tsukasa Satake
Yasuo Yamashita
Kenichi Obori
Hideyuki Nishibun

37Corporate governance structure chart
General Meeting of Shareholders
Appointment,
Dismissal

Appointment,
Dismissal

Board of Directors (Directors)

Board of Auditors (Auditors)
Supervising,Monitoring

Selection, Dismissal
Business Execution
Instructions

Supervising, Monitoring

Financial Audit

Internal controls

Supervision

Business Execution
President

Monitoring

Reporting

Litigation, Exports, Legal Affairs,
Public-Sector Grants, Audits of
Subsidiaries' Management, etc.

ReportingDiscussed Items

Directors and Corporate Officers’
Meeting/ Operations Committee/
Management Committee
by Business Segment

ReportingCorporate Officers
Direction
and Orders

Independent Auditor
Coordination

Reporting

Supervision
Entrusting Business
Execution

Appointment,
Dismissal

Approval of Resignation, Dismissal, and Reappointment
Judging Suitability of the Independent Auditors

Internal Auditing(Group Internal Audit Office)Supervising
Coordination

Direction and Orders, Reporting

ReportingIntegrated Management System (IMS)Business Segments Leaders

Committees, etc.*(Quality, Environmental & Safety Management Center)
Supervising

Promotion

Reporting Principles

Advisory,
ProposalsInternal Control Promotion Committee
Coordination

HORIBA CSR Promotion Committee

Coordination

HORIBA, Ltd. CSR Promotion Committee**

HORIBA Corporate Philosophy and Ethical Guidelines

Compliance Committee

Joy and Fun, Open and Fair

* Committees, etc. refer to committees and conferences that are established and registered based on the "Regulations concerning conferences and committees," such as the
Promotion Committee for Management of Business with Public Subsidies and the Safety and Health Committee.
** The CSR Promotion Committee decides on the CSR Policy and priority measures and organizes CSR-related specific activities. In addition, it discusses and approves the issues
and the measures concerning the promotion of risk management.

An outside director’s views on HORIBA’s corporate governance
Board meetings
I have been delighted to attend HORIBA’s Board of Directors meetings, where lively and constructive
small-group discussions are conducted in a casual atmosphere. During the meetings, I tend to ask
candid questions from a broader general perspective, rather than from my area of expertise, whichis in macro economics and international finance. My goal is to affirm management’s attitude andcommitments.

Corporate culture that induces innovation
Over 90% of HORIBA’s management have lived and worked overseas, and this enables discussions
to be from a broader perspective and extend beyond Japan’s domestic issues. Every HORIBA division
has experts in their respective fields who have a keen eye for what is going in both technical fields andindustry markets. In my view, HORIBA has a corporate culture that encourages individuals to take on
new challenges that induces innovation, which is embodied in its corporate motto “Joy and Fun” andin good communication within the Group.

Overseas group companies’ governanceI see HORIBA is doing well as a Japanese company, in embracing more practices that are a global
norm among leading companies overseas. One example is that the group’s global meetings havebeen conducted in English for 15 years. I believe HORIBA can take advantage of its unique corporate
philosophy and culture, which was nurtured in Kyoto, to become more formidable. In my view, it isimportant to use the power of young people and instill governance through its culture. In contrast,
Japanese companies tend to have a common challenge to enhance their support functions suchas finance, auditing, legal matters, and intellectual properties. HORIBA should improve its corporate
power by continuing to look at external institutions and other means.

Outside Director

Masahiro Sugita
Masahiro Sugita served as DirectorGeneral of the International
Department of the Bank of Japan and
Director of the Research Institute ofOverseas Investment of the ExportImport Bank of Japan before being
appointed as Auditor of the Bank ofJapan, a position he held from 1999
to 2003. In 2003, he began to serve
as Outside Auditor (full-time) of Banyu
Pharmaceutical Co., Ltd., the former
MSD K.K. Since 2006, he has been
appointed as an outside director of
HORIBA, Ltd. He also serves as anauditor of The 77 Bank Ltd.

Annual Report 2012 | 38

CSR

CSR

Corporate social responsibility (CSR) policy“Promoting CSR through operations”
HORIBA’s products, supplied by its five business segments, are intimately linked with key challenging issues of our times: energy,
human health, global environment, and public safety. With a sense of pride, we will support products and technologies that
contribute to building a sustainable society and improving the people’s quality of life. This is the essence of HORIBA’s CSR activities.

HORIBA Group CSR policy

Promote CSR through operations

Top issues for 2012

HORIBA PREMIUM– Create First Class ValueHORIBA helps realize a pleasant and happy society bypromoting corporate activities based on the key issuesof the global environment, human health, public safety
and energy.

Realize HORIBA PREMIUM from the perspective of CSR

CSR promotion committee* IMS (Integrated Management System):This is a unique service program established by the Japan Quality Assurance
Organization (JQA). Various management system standards such as quality(ISO9001), the environment (ISO14001), health and safety (OHSAS18001), andmedical (ISO13485) standards, are integrated and JQA assesses how effectively
the system is managed within the organization.

HORIBA established the HORIBA Group CSR Promotion
Committee in April 2005 in order to promote group-wide
CSR activities. The committee, which is chaired by Dr. Kozo
Ishida, Executive Vice President of HORIBA, Ltd., andparticipated in by four directors in charge of CSR from thefour group companies in Japan, decides on the CSR policy
and priority measures. Each of the group companies has its
own CSR Promotion Committee where the policy andmeasures decided by the HORIBA Group CSR Promotion
Committee are reported, and HORIBA’s social contributions
concerning education, the environment, local communities,
and other areas are put together and reported.

CSR Report: Gaiareport

1. Enhance communication with stakeholders
2. Achieve IMS* targets
3. Adhere to compliance

HORIBA Gaiareport

HORIBA publishes the "Gaiareport" as an annual
environmental and corporate social responsibility report.
Since 2009, the report has been comprised of two parts: abooklet and a Web version. Various statistical data
concerning compliance, environmental burden, and otherinformation are disclosed on the web, in order to facilitate
the search function. The booklet features select topics andis compact and easier to read, resulting in a significant
reduction in paper volume.
Gaiareport 2012

Please visit our website for details.

http://www.horiba.com/gaiareport/
Website39

FINANCIAL DATAYear Ended December 31, 2012

Annual Report 2012 | 40

FINANCIAL DATA

Eleven-Year Summary
2003.3

2004.32005.32006.32006.12Net sales¥78,501¥85,073¥92,492¥105,665¥116,099

Operating costs and expenses

73,02778,223

83,11994,390104,392

Operating income

5,474

6,850

9,373

11,275

11,707

786

2,074

3,524

6,473

6,510

Capital expenditures

3,444

3,501

3,956

5,664

5,059

Depreciation and amortization

2,915

3,037

2,944

3,173

3,246

Research and development expenses

4,044

5,129

5,636

6,553

6,136

¥100,542¥92,657¥99,913¥119,976¥129,236

22,061

13,603

16,10814,884

15,673

-

-

-

-

-

29,594

29,14330,59537,40842,485Inventories

18,336

19,40222,012

27,27330,947

Property, plant and equipment, net

19,00018,841

18,481

20,22321,700

51

58

26

45

44

For the YearNet income

At Year-End
Total assets
Cash and cash equivalents
Trade notes andaccounts receivable

Trade notes andaccounts payable

Affiliated companies
Other

Affiliated companies

9,147

8,700

11,26413,017

14,917

Liabilities with interest

33,21821,46016,042

13,866

16,224

Shareholders’ equity

40,144

43,34852,26365,446

72,371

Share price at end of fiscal period (¥)

765

1,380

1,950

3,690

4,400

Number of employees (consolidated)

3,691

3,808

3,984

4,461

4,697

Net income - basic¥22.21¥62.90¥98.33¥154.27¥154.23

Net income - diluted

18.31

50.10

83.81

146.97

153.701,293.30

1,350.31

1,415.75

1,548.08

1,710.75

14.50

10.00

16.00

28.00

26.00

Operating income to net sales (%)

7.0

8.1

10.1

10.7

10.1

Return on assets (%)

0.8

2.2

3.7

5.9

5.2

Return on equity (%)

2.0

5.0

7.4

11.0

9.4

Shareholders' equity ratio (%)

39.9

46.8

52.3

54.6

56.0

Consolidated dividend payout ratio (%)

57.2

15.3

16.5

18.1

16.9

Nonconsolidated dividend payout ratio (%)

40.8

30.3

41.8

33.8

30.0

Other

Per Share Information

Net assets
Cash dividends

Financial Ratios

Notes: The stated amounts are rounded down to the nearest million yen from the year, ended December 31, 2009, but are rounded (up or down) to the nearest million yen prior tothat year.
1. The U.S. dollar amounts are provided solely for convenience at the rate of ¥86.58 to US$1.00, the rate prevailing on December 31, 2012.
2. Effective from the year ended March 20, 2003, HORIBA adopted the revised accounting standard for per share information. The amounts in prior years have not been restated.
3. Effective from the year ended December 31, 2006, HORIBA adopted the revised accounting standard for presentation of net assets in the balance sheet. The amounts inprior years have not been restated.
4. For the year ended December 31, 2006, the accounting term for HORIBA, Ltd. and HORIBA Advanced Techno Co., Ltd. was only 9 months and 11 days and that for
HORIBA STEC Co., Ltd. was only 9 months as a result of a change in the fiscal year-end to December 31.

41

HORIBA, Ltd. and Consolidated Subsidiaries
The years ended March 20, 2003 - 2006 and the years ended December 31, 2006 - 2012.

2007.122008.122009.122010.122011.122012.12
Millions of yen¥144,283¥134,248¥104,538¥118,556¥123,456¥117,609

127,753

123,290

99,394106,256

108,549

105,857

16,53010,958

5,144

12,29914,906

11,751

8,691

6,039

3,161

7,927

8,664

7,396

9,336

6,645

4,534

4,033

4,670

7,882

4,161

4,955

4,573

4,523

4,146

3,743

9,474

10,662

9,831

9,480

10,06010,092Millions of yen¥154,367¥133,279¥129,580¥137,290¥144,649¥153,836

20,56522,66027,59034,45935,76738,858

63

6

1

126

4

45,87337,33034,50536,42539,24937,51633,73429,802

23,363

24,843

26,28828,101

24,071

23,11523,602

22,51622,92428,179

53

40

52

60

0

21

16,792

11,063

10,515

13,423

13,196

11,80725,177

20,984

18,34817,12818,35818,08380,377

76,82979,906

84,01990,232

99,248

4,100

1,237

2,250

2,303

2,320

2,489

4,976

5,146

5,133

5,202

5,448

5,530

-

2012.12
Thousands of U.S. dollars (Note 1)$1,358,385
1,222,649
135,724
85,42391,037
43,231
116,562
Thousands of U.S. dollars (Note 1）$1,776,807
448,81046
433,310324,566
325,467
242
136,370
208,858
1,146,315
U.S. dollars (Note 1)

Yen (Notes 2, 3, 4)¥205.01¥142.76¥74.77¥187.46¥204.88204.39142.71

74.68

187.11204.41¥174.87
174.37

1,892.64

1,816.96

1,889.58

1,986.77

2,133.44

2,346.45

39.00

44.00

13.00

17.00

40.00

50.00

11.5

8.2

4.9

10.4

12.1

6.1

4.2

2.4

5.9

6.1

10.0
5.0

11.4

7.7

4.0

9.7

9.9

7.8

52.1

57.6

61.7

61.2

62.4

64.5

19.0

30.8

17.4

9.1

19.5

28.6

30.1

30.0

30.0

30.3

30.5

37.5

28.74

U.S. dollars (Note 1)

$2.01
2.01
27.10
0.57

Computations:Shareholders’ equity = net assets - subscription rights to shares - minority interests
Net income per share (¥) = 100 x (net income – projected bonuses to directors and corporate auditors)*
		 / (average number of shares issued and outstanding in the fiscal period, corrected for treasury stock)
Net assets per share (¥) = 100 X (Shareholders’ equity – projected bonuses to directors and corporate auditors)*/ (number of shares issued and outstanding, corrected for treasury stock)
Operating income to net sales (%) = 100 x operating income / net sales
Return on assets (ROA, %) = 100 x net income / average total assets in prior fiscal period
Return on equity (ROE, %) = 100 x net income / average shareholders’ equity in prior fiscal period
Shareholders’ equity ratio (%) = 100 x shareholders’ equity / total assets
Consolidated dividend payout ratio (%) = 100 x dividends paid / net income (consolidated)
Nonconsolidated dividend payout ratio (%) = 100 x dividends paid / net income (nonconsolidated)*Directors' and corporate auditors' bonuses from the year ended December 31, 2006 are recognized in selling, general and administrative expenses.

Annual Report 2012 | 42

FINANCIAL DATA

Eleven-Year Summary

Net Sales by Segment
Millions of Yen

150,000

144,283
14,290120,000

90,00085,07378,501
9,340
17,696
14,391

30,000013,721116,099
105,665

60,000134,248

15,942

10,46592,492
8,999

14,76417,301

24,810118,556

25,30022,351

18,03918,18320,508

20,111

26,93425,836

14,558104,538
12,022

20,82522,04027,676

24,694

16,762

117,60913,70920,406

20,50324,722

22,989123,456

11,787

10,31919,51018,9609,753

25,74817,861

12,483
22,33722,51437,19235,751

23,48522,40018,777

21,131

23,582

27,022

2003.3

2004.32005.334,446

2006.337,94551,47554,232
38,67843,2302006.12 2007.12 2008.12 2009.12 2010.12 2011.12 2012.12

In fiscal 2012, ended December 31, 2012,
HORIBA’s net sales decreased for the firsttime in three years, due to the appreciationof yen, which persisted nearly until the
year-end, and the sluggish economy
caused by the European debt crisis andProcess & Environmental other factors.
By segment, the Automotive Test Systems
Scientificsegment witnessed a recovery in capital
investment and R&D investment by
Semiconductor
automakers but the Semiconductor
Instruments & Systems segment recorded
Medical-Diagnostic
a significant decrease in sales. The
appreciation of the yen reduced the valueof overseas sales when converted into yen
Automotive
Test Systems
in the Scientific Instruments & Systems
segment and the Medical-Diagnostic
Instruments & Systems segment.

Net Income and Return on Equity (ROE)Net Income
Return on Equity (ROE)

Millions of Yen

12,000

%

12.0

11.4

11.0

10,000

10.0

9.9
9.7
9.4

8,000

7.8

7.4

8.0

Net income also decreased for the firsttime in three years, due to a drop insales in all business segments other thanthe Automotive Test Systems segment,
which achieved improved profitability inresponse to higher sales and continued
cost reduction efforts. This resulted in ROE
declining by 2.1 percentage points to 7.8%.

7.7

6,000

6.0
5.0

4,000
2,000
0

4.0

4.0

2.0

2.0

786

2,074

3,524

6,473

6,510

8,691

6,039

3,161

7,927

8,664

7,396

2003.3

2004.32005.32006.32006.122007.122008.122009.122010.122011.122012.120.0

Net Income per Share and Net Assets per ShareNet Income per Share (left)
Net Assets per Share (right)

Yen

250

Yen

2,500

2,346
2,133

205

200

1,817
1,711

1,893

1,293

1,350

1,416

154

2,000

1,987
205
187

1,548

150

100

1,890

175
154

1,500

143

1,000
98
63

50

75

500

22

0

0
2003.343

2004.32005.32006.32006.122007.122008.122009.122010.122011.122012.12

Fiscal 2012 net income per share was¥175, down ¥30 from the previous year,
while net assets per share renewed arecord-high of ¥2,346.

Operating Income and Operating Income to Net Sales
Millions of Yen

18,000

11.5

%

12.0

Inventories
Days

Millions of Yen

40,000

10.4

10.1
10.1

10.0

81

85

82

82

86

100

85
76

30,000
8.0

8.2

8.1

87

10.0

Days

93

92

12.1

10.7

15,00012,000Inventories and Inventory Turnover (Days)

Operating Income
Operating Income to Net Sales

75

74

7.0

9,000

6.0
4.9

6,000

20,00050

10,000

25

4.0

3,000

2.0

0

5,474

6,850

9,373

11,275 11,707 16,530 10,958

5,144

12,299 14,906 11,751

00Total Assets
Return on Assets (ROA)

Millions of Yen

0

R&D Expenditures andR&D Expenditures to Net Sales

Total Assets and Return on Assets (ROA)
180,000

18,336 19,402 22,012 27,273 30,947 33,734 29,802 23,363 24,843 26,288 28,101
2003.3 2004.3 2005.3 2006.3 2006.12 2007.12 2008.12 2009.12 2010.12 2011.12 2012.12

2003.3 2004.3 2005.3 2006.3 2006.12 2007.12 2008.12 2009.12 2010.12 2011.12 2012.12

150,000

%

9.0
7.5

R&D Expeditures
R&D Expeditures to Net Sales

Millions of Yen

12,000%12.0

10,00010.0
9.4

120,000

8.6

8,000

5.9

8.0

7.9

5.2

90,000

6.0

6.1

6.1

5.9

5.0

4.5

6,000

6.0

6.1

3.7

60,000

3.0

4,000

1.5

2,000

0

0

6.6

6.2

4.2

8.0

8.1

6.0

5.3

5.2

4.0

2.4

2.2

30,0002.0

0.8

0 100,542 92,657 99,913 119,976 129,236 154,367 133,279 129,580 137,290 144,649 153,836
2003.3 2004.3 2005.3 2006.3 2006.12 2007.12 2008.12 2009.12 2010.12 2011.12 2012.12

4,044

5,129

5,636

6,553

6,136

Capital Expenditures andDepreciations and Amortization

Cash Dividends per Share
Yen

50.0

50.0

40.0

40.0

10,000

10.0

8,000

0

7,882

6,645

6,000
5,664

26.0

4,955

20.0

5,059

4,000
13.0
10.0

0.0

2,000

4,534 4,523

4,670

4,573
3,444 3,501

17.0

16.0

14.5

9,480 10,060 10,092

9,336

39.0

28.0

10,662 9,831

Capital Expenditures
Depreciations and Amortization

Millions of Yen

44.0

30.0

9,474

2003.3 2004.3 2005.3 2006.3 2006.12 2007.12 2008.12 2009.12 2010.12 2011.12 2012.12

2,915

3,037

3,956
2,944

4,161
3,173

4,033

4,146

3,743

3,246

0
2003.3 2004.3 2005.3 2006.3 2006.12 2007.12 2008.12 2009.12 2010.12 2011.12 2012.12

2003.3 2004.3 2005.3 2006.3 2006.12 2007.12 2008.12 2009.12 2010.12 2011.12 2012.12

Annual Report 2012 | 44

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Consolidated Financial Review㻰㼡㼞㼕㼚㼓㻌 㼠㼔㼑㻌 㼒㼕㼟㼏㼍㼘㻌 㼥㼑㼍㼞㻌 㼑㼚㼐㼑㼐㻌 㻰㼑㼏㼑㼙㼎㼑㼞㻌 㻟㻝㻘㻌 㻞㻜㻝㻞㻘㻌 㼠㼔㼑㻌 㼁㻿㻌㻲㼡㼗㼡㼟㼔㼕㼙㼍㻌㻼㼞㼑㼒㼑㼏㼠㼡㼞㼑㻌㼍㼚㼐㻌㼐㼑㼢㼑㼘㼛㼜㼑㼐㻌㼍㼚㻌㼛㼞㼓㼍㼚㼕㼦㼍㼠㼕㼛㼚㻌㼏㼍㼜㼍㼎㼘㼑㻌㼛㼒㻌㼑㼏㼛㼚㼛㼙㼥㻌㼟㼍㼣㻌㼍㻌㼙㼛㼐㼑㼞㼍㼠㼑㻌㼞㼑㼏㼛㼢㼑㼞㼥㻌㼙㼍㼕㼚㼘㼥㻌㼕㼚㻌㼏㼛㼚㼟㼡㼙㼑㼞㻌㼟㼜㼑㼚㼐㼕㼚㼓㻌㼜㼞㼛㼢㼕㼐㼕㼚㼓㻌㼒㼕㼚㼑㻙㼠㼡㼚㼑㼐㻌㼟㼑㼞㼢㼕㼏㼑㼟㻚㻌㻵㼚㻌㼍㼐㼐㼕㼠㼕㼛㼚㻘㻌㼠㼔㼑㻌㼟㼑㼓㼙㼑㼚㼠㻌㼞㼑㼟㼜㼛㼚㼐㼑㼐㻌㼍㼚㼐㻌㼔㼛㼡㼟㼕㼚㼓㻌㼏㼛㼚㼟㼠㼞㼡㼏㼠㼕㼛㼚㻘㻌㼎㼡㼠㻌㼠㼔㼑㻌㻱㼡㼞㼛㼜㼑㼍㼚㻌㼑㼏㼛㼚㼛㼙㼥㻌㼣㼑㼍㼗㼑㼚㼑㼐㻌㼠㼛㻌㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌㼐㼑㼙㼍㼚㼐㻌㼒㼛㼞㻌㼟㼠㼍㼏㼗㻌㼓㼍㼟㻌㼍㼚㼍㼘㼥㼦㼑㼞㼟㻌㼒㼛㼞㻌㼠㼔㼑㼞㼙㼍㼘㻌㼜㼛㼣㼑㼞㻌㼐㼡㼑㻌 㼠㼛㻌 㼠㼔㼑㻌 㼟㼜㼞㼑㼍㼐㼕㼚㼓㻌 㼕㼙㼜㼍㼏㼠㻌 㼛㼒㻌 㼠㼔㼑㻌 㼐㼑㼎㼠㻌 㼏㼞㼕㼟㼕㼟㻚㻌 㻹㼛㼞㼑㼛㼢㼑㼞㻘㻌 㼕㼚㻌㼜㼘㼍㼚㼠㼟㻌㼕㼚㻌㼢㼍㼞㼕㼛㼡㼟㻌㼞㼑㼓㼕㼛㼚㼟㻌㼛㼒㻌㻶㼍㼜㼍㼚㻚㻌 㻌㼑㼙㼑㼞㼓㼕㼚㼓㻌㼏㼛㼡㼚㼠㼞㼕㼑㼟㻌㼟㼡㼏㼔㻌㼍㼟㻌㻯㼔㼕㼚㼍㻌㼍㼚㼐㻌㻵㼚㼐㼕㼍㻘㻌㼣㼔㼕㼏㼔㻌㼏㼛㼚㼠㼕㼚㼡㼑㼐㻌㼠㼛㻌㻵㼚㻌 㼠㼔㼑㻌 㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻒㻌 㻿㼥㼟㼠㼑㼙㼟㻌 㻿㼑㼓㼙㼑㼚㼠㻘㻌㼓㼞㼛㼣㻌 㼟㼠㼞㼛㼚㼓㼘㼥㻘㻌 㼑㼏㼛㼚㼛㼙㼕㼏㻌 㼓㼞㼛㼣㼠㼔㻌 㼟㼘㼛㼣㼑㼐㻌 㼕㼚㻌 㼞㼑㼟㼜㼛㼚㼟㼑㻌 㼠㼛㻌 㼍㻌㼣㼕㼠㼔㻌 㼠㼔㼑㻌 㼍㼕㼙㻌 㼛㼒㻌 㼞㼑㼟㼜㼛㼚㼐㼕㼚㼓㻌 㼠㼛㻌 㼓㼞㼛㼣㼕㼚㼓㻌 㼐㼑㼙㼍㼚㼐㻌 㼒㼛㼞㻌 㼠㼑㼟㼠㼕㼚㼓㻌㼟㼘㼛㼣㼐㼛㼣㼚㻌 㼕㼚㻌 㼑㼤㼜㼛㼞㼠㼟㻌 㼠㼛㻌 㻱㼡㼞㼛㼜㼑㻌 㼍㼚㼐㻌 㼙㼛㼚㼑㼠㼍㼞㼥㻌 㼠㼕㼓㼔㼠㼑㼚㼕㼚㼓㻚㻌 㼀㼔㼑㻌㼞㼑㼍㼓㼑㼚㼠㼟㻌㼕㼚㻌㼢㼍㼞㼕㼛㼡㼟㻌㼏㼛㼡㼚㼠㼞㼕㼑㼟㻘㻌㻴㻻㻾㻵㻮㻭㻌㼡㼚㼐㼑㼞㼠㼛㼛㼗㻌㼣㼛㼞㼗㻌㼛㼚㻌㼍㻌㼚㼑㼣㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌㼑㼏㼛㼚㼛㼙㼥㻌㼞㼑㼏㼛㼢㼑㼞㼑㼐㻌㼙㼛㼐㼑㼞㼍㼠㼑㼘㼥㻌㼡㼚㼠㼕㼘㻌㼍㼞㼛㼡㼚㼐㻌㼟㼜㼞㼕㼚㼓㻘㻌㼛㼚㻌㼞㼑㼍㼓㼑㼚㼠㻌 㼜㼘㼍㼚㼠㻌 㼕㼚㻌 㻵㼚㼐㼕㼍㻚㻌 㻵㼚㻌 㻶㼍㼜㼍㼚㻘㻌 㻴㻻㻾㻵㻮㻭㻌 㻿㼀㻱㻯㻌 㻯㼛㻚㻘㻌 㻸㼠㼐㻚㻌㼠㼔㼑㻌 㼎㼍㼏㼗㻌 㼛㼒㻌 㼐㼑㼙㼍㼚㼐㻌 㼒㼛㼞㻌 㼞㼑㼏㼛㼢㼑㼞㼥㻌 㼒㼞㼛㼙㻌 㼠㼔㼑㻌 㻳㼞㼑㼍㼠㻌 㻱㼍㼟㼠㻌 㻶㼍㼜㼍㼚㻌㼏㼛㼙㼜㼘㼑㼠㼑㼐㻌㼠㼔㼑㻌㼑㼤㼜㼍㼚㼟㼕㼛㼚㻌㼣㼛㼞㼗㻌㼛㼚㻌㼠㼔㼑㻌㻭㼟㼛㻌㼒㼍㼏㼠㼛㼞㼥㻌㼕㼚㻌㻷㼡㼙㼍㼙㼛㼠㼛㻌㻱㼍㼞㼠㼔㼝㼡㼍㼗㼑㻘㻌 㼎㼡㼠㻌 㼑㼏㼛㼚㼛㼙㼕㼏㻌 㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟㻌 㼣㼑㼞㼑㻌 㼣㼑㼍㼗㻌 㼒㼞㼛㼙㻌 㼟㼡㼙㼙㼑㼞㻌㻼㼞㼑㼒㼑㼏㼠㼡㼞㼑㻌㼕㼚㻌㼛㼞㼐㼑㼞㻌㼠㼛㻌㼑㼚㼔㼍㼚㼏㼑㻌㼠㼔㼑㻌㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼟㼥㼟㼠㼑㼙㻌㼒㼛㼞㻌㼎㼘㼛㼛㼐㻌㼛㼚㼣㼍㼞㼐㻌 㼐㼡㼑㻌 㼠㼛㻌 㼠㼔㼑㻌 㼟㼘㼛㼣㼐㼛㼣㼚㻌 㼕㼚㻌 㼠㼔㼑㻌 㼓㼘㼛㼎㼍㼘㻌 㼑㼏㼛㼚㼛㼙㼥㻘㻌 㼠㼔㼑㻌㼏㼑㼘㼘㻌 㼠㼑㼟㼠㼕㼚㼓㻌 㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㼍㼚㼐㻌 㼠㼔㼑㼞㼑㼎㼥㻌 㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼜㼑㼞㼟㼕㼟㼠㼑㼚㼠㻌 㼟㼠㼞㼑㼚㼓㼠㼔㻌 㼛㼒㻌 㼠㼔㼑㻌 㼥㼑㼚㻌 㼍㼚㼐㻌 㼣㼛㼞㼟㼑㼚㼕㼚㼓㻌 㼞㼑㼘㼍㼠㼕㼛㼚㼟㻌 㼣㼕㼠㼔㻌㼏㼍㼜㼍㼏㼕㼠㼥㻚㻌 㻌㼀㼔㼑㻌 㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻒㻌 㻿㼥㼟㼠㼑㼙㼟㻌 㻿㼑㼓㼙㼑㼚㼠㻌㻯㼔㼕㼚㼍㻚㻌 㻌㼀㼔㼑㻌㼍㼚㼚㼡㼍㼘㻌㼍㼢㼑㼞㼍㼓㼑㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㼞㼍㼠㼑㼟㻌㼒㼛㼞㻌㻞㻜㻝㻞㻌㼣㼑㼞㼑㻌㻣㻥㻚㻤㻝㻌㼥㼑㼚㻌㼜㼞㼛㼙㼛㼠㼑㼐㻌㼏㼛㼟㼠㻌㼏㼡㼠㼠㼕㼚㼓㻌㼎㼥㻌㼙㼍㼗㼕㼚㼓㻌㼡㼟㼑㻌㼛㼒㻌㼠㼔㼑㻌㼗㼚㼛㼣㻙㼔㼛㼣㻌㼛㼒㻌㻮㼑㼕㼖㼕㼚㼓㻌㼍㼓㼍㼕㼚㼟㼠㻌㼠㼔㼑㻌㼁㻿㻌㼐㼛㼘㼘㼍㼞㻌㼍㼚㼐㻌㻝㻜㻞㻚㻡㻡㻌㼥㼑㼚㻌㼍㼓㼍㼕㼚㼟㼠㻌㼠㼔㼑㻌㼑㼡㼞㼛㻚㻌㼃㼔㼕㼘㼑㻌㼠㼔㼑㻌㻴㻻㻾㻵㻮㻭㻌 㻹㻱㼀㻾㻻㻺㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻯㼛㻚㻘㻸㼠㼐㻚㻘㻌 㼞㼑㼢㼕㼟㼑㼐㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼞㼍㼠㼑㻌㼍㼓㼍㼕㼚㼟㼠㻌㼠㼔㼑㻌㼐㼛㼘㼘㼍㼞㻌㼐㼕㼐㻌㼚㼛㼠㻌㼏㼔㼍㼚㼓㼑㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌㼥㼑㼍㼞䇻㼟㻌㼜㼞㼛㼏㼑㼟㼟㼑㼟㻌㼕㼚㻌㼠㼍㼚㼐㼑㼙㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼑㼤㼜㼍㼚㼟㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㻭㼟㼛㻌㼒㼍㼏㼠㼛㼞㼥㻌㼍㼚㼐㻌㼘㼑㼢㼑㼘㻘㻌㼠㼔㼑㻌㼥㼑㼚㻌㼏㼛㼚㼠㼕㼚㼡㼑㼐㻌㼠㼛㻌㼍㼜㼜㼞㼑㼏㼕㼍㼠㼑㻌㼍㼓㼍㼕㼚㼟㼠㻌㼠㼔㼑㻌㼑㼡㼞㼛㻘㻌㼞㼕㼟㼕㼚㼓㻌㼎㼥㻌㼜㼞㼛㼙㼛㼠㼑㼐㻌 㼍㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌 㼟㼥㼟㼠㼑㼙㻌 㼠㼔㼍㼠㻌 㼏㼍㼚㻌 㼞㼑㼟㼜㼛㼚㼐㻌 㼟㼙㼛㼛㼠㼔㼘㼥㻌 㼠㼛㻌㻤㻚㻠㻑㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌㼥㼑㼍㼞㻚㻌㼏㼔㼍㼚㼓㼑㼟㻌㼕㼚㻌㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼢㼛㼘㼡㼙㼑㻚㻌 㻌㼀㼔㼑㻌㼍㼚㼍㼘㼥㼠㼕㼏㼍㼘㻌㼍㼚㼐㻌㼙㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌㼙㼍㼞㼗㼑㼠㻌㼟㼍㼣㻌㼟㼕㼓㼚㼟㻌㻵㼚㻌㼠㼔㼑㻌㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻌㻿㼑㼓㼙㼑㼚㼠㻘㻌㼛㼣㼕㼚㼓㻌㼠㼛㻌㼠㼔㼑㻌㼛㼒㻌 㼍㻌 㼞㼑㼏㼛㼢㼑㼞㼥㻌 㼕㼚㻌 㼏㼍㼜㼕㼠㼍㼘㻌 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌 㼍㼚㼐㻌 㻾㻒㻰㻌 㼑㼤㼜㼑㼚㼐㼕㼠㼡㼞㼑㻌 㼎㼥㻌㼏㼛㼙㼜㼘㼑㼠㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㼚㼑㼣㻌㻾㻒㻰㻌㼏㼑㼚㼠㼑㼞㻌㼕㼚㻌㻱㼡㼞㼛㼜㼑㻘㻌㼣㼔㼕㼏㼔㻌 㼣㼍㼟㻌㼎㼑㼕㼚㼓㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌 㼍㼚㼐㻌 㼛㼢㼑㼞㼟㼑㼍㼟㻌 㼍㼡㼠㼛㼙㼍㼗㼑㼞㼟㻚㻌 㻱㼝㼡㼕㼜㼙㼑㼚㼠㻌 㼐㼑㼙㼍㼚㼐㻌 㼕㼚㻌 㼠㼔㼑㻌㼏㼛㼚㼟㼠㼞㼡㼏㼠㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼟㼡㼎㼡㼞㼎㼟㻌㼛㼒㻌㻼㼍㼞㼕㼟㻌㼕㼚㻌㻲㼞㼍㼚㼏㼑㻘㻌㻴㻻㻾㻵㻮㻭㻌㼍㼕㼙㼟㻌㼠㼛㻌㼟㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻙㼞㼑㼘㼍㼠㼑㼐㻌 㼙㼍㼞㼗㼑㼠㻌 㼐㼞㼛㼜㼜㼑㼐㻌 㼟㼔㼍㼞㼜㼘㼥㻌 㼒㼞㼛㼙㻌 㼟㼡㼙㼙㼑㼞㻌㼐㼑㼢㼑㼘㼛㼜㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌㼠㼔㼍㼠㻌㼙㼑㼑㼠㻌㼠㼔㼑㻌㼍㼐㼢㼍㼚㼏㼑㼐㻌㼚㼑㼑㼐㼟㻌㼛㼒㻌㼏㼡㼟㼠㼛㼙㼑㼞㼟㻌㼕㼚㻌㼛㼚㼣㼍㼞㼐㻘㻌㼍㼟㻌㼟㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㼙㼍㼗㼑㼞㼟㻌㼍㼚㼐㻌㼘㼕㼓㼔㼠㻙㼑㼙㼕㼠㼠㼕㼚㼓㻌㼐㼕㼛㼐㼑㻌㻔㻸㻱㻰㻕㻌㼍㼐㼢㼍㼚㼏㼑㼐㻌 㼙㼍㼠㼑㼞㼕㼍㼘㻌 㼍㼚㼍㼘㼥㼟㼕㼟㻌 㼍㼚㼐㻌 㼛㼠㼔㼑㼞㻌 㼒㼕㼑㼘㼐㼟㻌 㼎㼥㻌 㼟㼡㼜㼜㼛㼞㼠㼕㼚㼓㻌 㼖㼛㼕㼚㼠㻌㼙㼍㼗㼑㼞㼟㻌 㼔㼍㼐㻌 㼏㼛㼙㼜㼘㼑㼠㼑㼐㻌 㼍㻌 㼏㼥㼏㼘㼑㻌 㼛㼒㻌 㼏㼍㼜㼕㼠㼍㼘㻌 㼟㼜㼑㼚㼐㼕㼚㼓㻚㻌 㻵㼚㻌 㼍㼐㼐㼕㼠㼕㼛㼚㻘㻌㼞㼑㼟㼑㼍㼞㼏㼔㻌㼣㼕㼠㼔㻌㼡㼚㼕㼢㼑㼞㼟㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼞㼑㼟㼑㼍㼞㼏㼔㻌㼕㼚㼟㼠㼕㼠㼡㼠㼕㼛㼚㼟㻚㻌㻭㼠㻌 㼠㼔㼑㻌 㼟㼍㼙㼑㻌 㼠㼕㼙㼑㻘㻌 㼠㼔㼑㻌 㻳㼞㼛㼡㼜㻌 㼕㼙㼜㼘㼑㼙㼑㼚㼠㼑㼐㻌 㼏㼛㼟㼠㻌 㼞㼑㼐㼡㼏㼠㼕㼛㼚㻌㼛㼣㼕㼚㼓㻌㼠㼛㻌㼠㼔㼑㻌㼟㼠㼞㼛㼚㼓㼑㼞㻌㼥㼑㼚㻌㼍㼚㼐㻌㼕㼚㼠㼑㼚㼟㼕㼒㼕㼑㼐㻌㼏㼛㼙㼜㼑㼠㼕㼠㼕㼛㼚㻘㻌㼠㼔㼑㻌㼓㼑㼚㼑㼞㼍㼘㻌㼠㼞㼑㼚㼐㻌㼛㼒㻌㼐㼑㼏㼘㼕㼚㼕㼚㼓㻌㼜㼞㼛㼐㼡㼏㼠㻌㼜㼞㼕㼏㼑㼟㻌㼏㼛㼚㼠㼕㼚㼡㼑㼐㻌㼕㼚㻌㼍㼘㼘㻌㼟㼑㼓㼙㼑㼚㼠㼟㻚㻌㻵㼚㻌㼠㼔㼑㻌㼒㼍㼏㼑㻌㼛㼒㻌㼠㼔㼑㼟㼑㻌㼑㼏㼛㼚㼛㼙㼕㼏㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㼟㻘㻌㻴㻻㻾㻵㻮㻭㻘㻌㻸㼠㼐㻚㻌㻔䇾㼠㼔㼑㻌㼜㼞㼛㼙㼛㼠㼕㼛㼚㻌 㼛㼒㻌 㼠㼔㼑㻌 㼡㼟㼑㻌 㼛㼒㻌 䇾㼟㼔㼍㼞㼑㼐㻌 㼟㼑㼞㼢㼕㼏㼑㼟䇿㻌 㻔㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼕㼛㼚㻌 㼛㼒㻌㻯㼛㼙㼜㼍㼚㼥䇿㻕㻌 㼍㼚㼐㻌 㼕㼠㼟㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㻔㼠㼛㼓㼑㼠㼔㼑㼞㻌 䇾㼠㼔㼑㻌㼏㼛㼙㼙㼛㼚㻌 㼟㼑㼞㼢㼕㼏㼑㼟㻌 㼕㼚㻌 㼟㼑㼢㼑㼞㼍㼘㻌 㼛㼞㼓㼍㼚㼕㼦㼍㼠㼕㼛㼚㼟㻌 㼠㼛㻌 㼙㼍㼗㼑㻌 㼠㼔㼑㼙㻌 㼙㼛㼞㼑㻌㻴㻻㻾㻵㻮㻭㻌 㻳㼞㼛㼡㼜䇿㻌 㼛㼞㻌 䇾㻴㻻㻾㻵㻮㻭䇿㻌 㼍㼟㻌 㼍㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼓㼞㼛㼡㼜㻕㻌㼑㼒㼒㼕㼏㼕㼑㼚㼠㻌 㼍㼚㼐㻌 㼟㼜㼑㼏㼕㼍㼘㼕㼦㼑㼐㻕㻌 㼍㼚㼐㻌 㼛㼞㼓㼍㼚㼕㼦㼍㼠㼕㼛㼚㼍㼘㻌 㼞㼑㼟㼠㼞㼡㼏㼠㼡㼞㼕㼚㼓㻌 㼛㼒㻌㼕㼙㼜㼘㼑㼙㼑㼚㼠㼑㼐㻌㼙㼑㼍㼟㼡㼞㼑㼟㻌㼠㼛㻌㼑㼚㼔㼍㼚㼏㼑㻌㼛㼡㼞㻌㼎㼡㼟㼕㼚㼑㼟㼟㼑㼟㻚㻌㼀㼔㼑㻌㻴㻻㻾㻵㻮㻭㻌㼕㼚㼠㼑㼓㼞㼍㼠㼕㼚㼓㻌 㼓㼞㼛㼡㼜㻌 㼏㼛㼙㼜㼍㼚㼕㼑㼟㻌 㼕㼚㻌 㻮㼞㼍㼦㼕㼘㻌 㼡㼚㼐㼑㼞㻌 㼠㼔㼑㻌 㼁㻚㻿㻚㻌 㼛㼜㼑㼞㼍㼠㼕㼛㼚㻌㻳㼞㼛㼡㼜㻌㼜㼞㼛㼙㼛㼠㼑㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼞㼑㼟㼠㼞㼡㼏㼠㼡㼞㼕㼚㼓㻌㼠㼔㼞㼛㼡㼓㼔㻌㼠㼔㼑㻌㻯㼛㼞㼜㼛㼞㼍㼠㼑㻌㻒㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼍㼕㼙㻌㼛㼒㻌㼑㼤㼜㼍㼚㼐㼕㼚㼓㻌㼟㼍㼘㼑㼟㻌㼕㼚㻌㼓㼞㼛㼣㼕㼚㼓㻌㼙㼍㼞㼗㼑㼠㼟㻚㻌㻲㼡㼞㼠㼔㼑㼞㼙㼛㼞㼑㻘㻌㻿㼑㼓㼙㼑㼚㼠㻌㻿㼠㼞㼍㼠㼑㼓㼥㻌㻰㼕㼢㼕㼟㼕㼛㼚㻘㻌㼣㼔㼕㼏㼔㻌㼣㼍㼟㻌㼚㼑㼣㼘㼥㻌㼑㼟㼠㼍㼎㼘㼕㼟㼔㼑㼐㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㼕㼚㻌 㼠㼔㼑㻌 㼁㻷㻘㻌 㼠㼔㼑㻌 㻳㼞㼛㼡㼜㻌 㼕㼟㻌 㼍㼏㼏㼑㼘㼑㼞㼍㼠㼕㼚㼓㻌 㼠㼔㼑㻌 㼜㼞㼛㼙㼛㼠㼕㼛㼚㻌 㼛㼒㻌 㻻㼚㼑㻌㼥㼑㼍㼞㻌㻞㻜㻝㻝㻌㼠㼛㻌㼐㼑㼟㼕㼓㼚㻌㼍㼚㼐㻌㼜㼞㼛㼙㼛㼠㼑㻌㼛㼢㼑㼞㼍㼘㼘㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼟㼠㼞㼍㼠㼑㼓㼥㻘㻌㼍㼚㼐㻌㻯㼛㼙㼜㼍㼚㼥㻌 㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌 㼠㼔㼞㼛㼡㼓㼔㻌 㼠㼔㼑㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼕㼛㼚㻌 㼛㼒㻌 㼓㼞㼛㼡㼜㻌㼍㼏㼏㼑㼘㼑㼞㼍㼠㼑㼐㻌㼠㼔㼑㻌㼘㼍㼡㼚㼏㼔㻌㼛㼒㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌㼠㼔㼍㼠㻌㼙㼑㼠㻌㼙㼍㼞㼗㼑㼠㻌㼚㼑㼑㼐㼟㻚㻌 㻌㼏㼛㼙㼜㼍㼚㼕㼑㼟㻘㻌 㼏㼡㼞㼎㼕㼚㼓㻌 㼒㼕㼤㼑㼐㻌 㼏㼛㼟㼠㼟㻌 㼍㼚㼐㻌 㼟㼜㼑㼑㼐㼕㼚㼓㻌 㼡㼜㻌 㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌㻮㼥㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼟㼑㼓㼙㼑㼚㼠㻘㻌 㼕㼚㻌 㼠㼔㼑㻌 㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌 㼀㼑㼟㼠㻌 㻿㼥㼟㼠㼑㼙㻌㼐㼑㼏㼕㼟㼕㼛㼚㼟㻚㻌㻵㼚㻌㻶㼍㼜㼍㼚㻘㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼙㼑㼞㼓㼑㼐㻌㼣㼕㼠㼔㻌㻴㻻㻾㻵㻮㻭㻌㻵㼠㼑㼏㻌㻯㼛㻚㻘㻌㻿㼑㼓㼙㼑㼚㼠㻘㻌 㻹㻯㼀㻌 㻔㻹㼑㼏㼔㼍㼠㼞㼛㼚㼕㼏㼟㻕㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻘㻌 㼍㼏㼝㼡㼕㼞㼑㼐㻌 㼒㼞㼛㼙㻌 㻯㼍㼞㼘㻌㻸㼠㼐㻚㻘㻌㼣㼔㼕㼏㼔㻌㼔㼍㼚㼐㼘㼑㼟㻌㼐㼞㼕㼢㼕㼚㼓㻌㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌㼟㼥㼟㼠㼑㼙㼟㻘㻌㼍㼠㻌㼠㼔㼑㻌㼟㼠㼍㼞㼠㻌㼛㼒㻌㻿㼏㼔㼑㼚㼏㼗㻌㻭㻳㻌㻔㻳㼑㼞㼙㼍㼚㼥㻕㻌㼕㼚㻌㻞㻜㻜㻡㻘㻌㼠㼡㼞㼚㼑㼐㻌㼜㼞㼛㼒㼕㼠㼍㼎㼘㼑㻌㼠㼔㼍㼚㼗㼟㻌㼠㼛㻌㼠㼔㼑㻌㼠㼔㼑㻌 㼥㼑㼍㼞㻌 㼍㼚㼐㻌 㼍㼕㼙㼟㻌 㼠㼛㻌 㼒㼡㼞㼠㼔㼑㼞㻌 㼑㼤㼜㼍㼚㼐㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼛㼜㼑㼞㼍㼠㼕㼛㼚㼟㻌 㼎㼥㻌㼟㼡㼏㼏㼑㼟㼟㼒㼡㼘㻌 㼠㼞㼍㼚㼟㼒㼑㼞㻌 㼛㼒㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌 㼎㼍㼟㼑㼟㻌 㼍㼚㼐㻌 㼏㼛㼟㼠㻌 㼞㼑㼐㼡㼏㼠㼕㼛㼚㻌㼍㼏㼏㼑㼘㼑㼞㼍㼠㼕㼚㼓㻌 㼠㼔㼑㻌 㼘㼍㼡㼚㼏㼔㻌 㼛㼒㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼠㼔㼞㼛㼡㼓㼔㻌 㼠㼔㼑㻌 㼟㼔㼍㼞㼕㼚㼓㻌 㼛㼒㻌㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟㻌 㼍㼚㼐㻌 㼠㼔㼑㻌 㼘㼍㼡㼚㼏㼔㻌 㼛㼒㻌 㼚㼑㼣㻌 㼑㼚㼓㼕㼚㼑㻌 㼑㼙㼕㼟㼟㼕㼛㼚㻌 㼙㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠㻌㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌 㼞㼑㼟㼛㼡㼞㼏㼑㼟㻌 㼍㼚㼐㻌 㼏㼞㼑㼍㼠㼕㼚㼓㻌 㼍㻌 㼒㼕㼚㼑㻙㼠㼡㼚㼑㼐㻌 㼟㼡㼜㼜㼛㼞㼠㻌㼟㼥㼟㼠㼑㼙㼟㻘㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼙㼍㼖㼛㼞㻌㼜㼞㼛㼐㼡㼏㼠㻚㻌㻵㼚㻌㻯㼔㼕㼚㼍㻘㻌㼣㼔㼑㼞㼑㻌㼐㼑㼙㼍㼚㼐㻌㼔㼍㼟㻌㼟㼥㼟㼠㼑㼙㻚㻌 㻰㼑㼟㼜㼕㼠㼑㻌 㼟㼡㼏㼔㻌 㼙㼑㼍㼟㼡㼞㼑㼟㻌 㼍㼚㼐㻌 㼟㼍㼘㼑㼟㻌 㼑㼒㼒㼛㼞㼠㼟㻘㻌 㼎㼛㼠㼔㻌㼎㼑㼑㼚㻌㼑㼤㼜㼍㼚㼐㼕㼚㼓㻘㻌㼠㼔㼑㻌㼟㼑㼓㼙㼑㼚㼠㻌㼟㼑㼠㻌㼡㼜㻌㼐㼑㼙㼛㼚㼟㼠㼞㼍㼠㼕㼛㼚㻌㼒㼍㼏㼕㼘㼕㼠㼕㼑㼟㻌㼒㼛㼞㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼍㼘㼑㼟㻌㼍㼚㼐㻌㼜㼞㼛㼒㼕㼠㻌㼛㼒㻌㻴㻻㻾㻵㻮㻭㻌㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌 㼒㼞㼛㼙㻌㼍㻌㼥㼑㼍㼞㻌㼠㼑㼟㼠㼕㼚㼓㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌㼍㼚㼐㻌㼐㼑㼢㼑㼘㼛㼜㼑㼐㻌㼍㼚㻌㼛㼞㼓㼍㼚㼕㼦㼍㼠㼕㼛㼚㻌㼠㼛㻌㼏㼍㼜㼠㼡㼞㼑㻌㼘㼛㼏㼍㼘㻌㼍㼓㼛㻚㻌㼐㼑㼙㼍㼚㼐㻚㻌 㻌㻌㻵㼚㻌 㼠㼔㼑㻌 㻼㼞㼛㼏㼑㼟㼟㻌 㻒㻌 㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻒㻌 㻿㼥㼟㼠㼑㼙㼟㻌45㼙㼑㼍㼟㼡㼞㼑㼟㻌 㼠㼛㻌 㼕㼙㼜㼞㼛㼢㼑㻌 㼜㼞㼛㼒㼕㼠㼍㼎㼕㼘㼕㼠㼥㻚㻌 㻿㼜㼑㼏㼕㼒㼕㼏㻌 㼙㼑㼍㼟㼡㼞㼑㼟㻌 㼕㼚㼏㼘㼡㼐㼑㼐㻌㻺㼑㼠㻌㻿㼍㼘㼑㼟㻌 㻌㻿㼑㼓㼙㼑㼚㼠㻘㻌 㼟㼍㼘㼑㼟㻌 㼐㼑㼏㼘㼕㼚㼑㼐㻌 㼍㼟㻌 㼐㼑㼙㼍㼚㼐㻌 㼒㼛㼞㻌 㼑㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌 㼞㼍㼐㼕㼍㼠㼕㼛㼚㻌㻵㼚㻌㼠㼔㼑㻌㼒㼕㼟㼏㼍㼘㻌㼥㼑㼍㼞㻌㼡㼚㼐㼑㼞㻌㼞㼑㼢㼕㼑㼣㻘㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼚㼑㼠㻌㼟㼍㼘㼑㼟㻌㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌㼙㼛㼚㼕㼠㼛㼞㼟㻌㼠㼍㼜㼑㼞㼑㼐㻌㼛㼒㼒㻘㻌㼎㼡㼠㻌㼠㼔㼑㻌㼟㼑㼓㼙㼑㼚㼠㻌㼟㼑㼠㻌㼡㼜㻌㼍㻌㼟㼑㼞㼢㼕㼏㼑㻌㼛㼒㼒㼕㼏㼑㻌㼕㼚㻌

㼎㼥㻌\㻡㻘㻤㻠㻣㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㼛㼞㻌㻠㻚㻣㻑㻘㻌㼥㼑㼍㼞㻌㼛㼚㻌㼥㼑㼍㼞㻌㼠㼛㻌\㻝㻝㻣㻘㻢㻜㻥㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼀㼔㼑㻌㼍㼢㼑㼞㼍㼓㼑㻌 㼒㼛㼞㼑㼕㼓㼚㻌 㼑㼤㼏㼔㼍㼚㼓㼑㻌 㼞㼍㼠㼑㻌 㼍㼜㼜㼘㼕㼑㼐㻌 㼕㼚㻌 㼎㼛㼛㼗㻌 㼏㼘㼛㼟㼕㼚㼓㼟㻌 㼣㼍㼟㻌㼍㼚㼍㼘㼥㼦㼑㼞㼟㻌 㼍㼚㼐㻌 㼛㼠㼔㼑㼞㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼠㼔㼍㼠㻌 㼞㼑㼟㼜㼛㼚㼐㼑㼐㻌 㼠㼛㻌 㼢㼍㼞㼕㼛㼡㼟㻌\㻣㻥㻚㻤㻝㻌㼠㼛㻌㼠㼔㼑㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㻘㻌㼏㼛㼙㼜㼍㼞㼑㼐㻌㼣㼕㼠㼔㻌\㻣㻥㻚㻤㻜㻌㼒㼛㼞㻌㼠㼔㼑㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌㼑㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌 㼞㼑㼓㼡㼘㼍㼠㼕㼛㼚㼟㻌 㼟㼔㼛㼣㼑㼐㻌 㼡㼚㼐㼑㼞㼘㼥㼕㼚㼓㻌 㼟㼠㼞㼑㼚㼓㼠㼔㻚㻌 㻿㼍㼘㼑㼟㻌 㼛㼒㻌㼥㼑㼍㼞㻘㻌 㼍㼚㼐㻌 \㻝㻜㻞㻚㻡㻡㻌 㼠㼛㻌 㼠㼔㼑㻌 㼑㼡㼞㼛㻘㻌 㼏㼛㼙㼜㼍㼞㼑㼐㻌 㼣㼕㼠㼔㻌 \㻝㻝㻝㻚㻝㻟㻌 㼒㼛㼞㻌 㼠㼔㼑㻌㼑㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌 㼞㼍㼐㼕㼍㼠㼕㼛㼚㻌 㼙㼛㼚㼕㼠㼛㼞㼟㻌 㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌 㼓㼞㼍㼐㼡㼍㼘㼘㼥㻌 㼒㼞㼛㼙㻌 㼠㼔㼑㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌 㼥㼑㼍㼞㻚㻌 㼁㼟㼕㼚㼓㻌 㼠㼔㼑㻌 㼑㼤㼏㼔㼍㼚㼓㼑㻌 㼞㼍㼠㼑㼟㻌 㼒㼛㼞㻌 㼠㼔㼑㻌 㼜㼞㼑㼢㼕㼛㼡㼟㻌 㼥㼑㼍㼞㻘㻌㼟㼑㼏㼛㼚㼐㻌㼝㼡㼍㼞㼠㼑㼞㻌㼍㼟㻌㼠㼔㼑㻌㼐㼑㼙㼍㼚㼐㻌㼒㼛㼞㻌㼠㼔㼑㻌㼙㼛㼚㼕㼠㼛㼞㼟㻌㼠㼔㼍㼠㻌㼟㼛㼍㼞㼑㼐㻌㼍㼒㼠㼑㼞㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼍㼘㼑㼟㻌 㼒㼛㼞㻌 㼠㼔㼑㻌 㼥㼑㼍㼞㻌 㼡㼚㼐㼑㼞㻌 㼞㼑㼢㼕㼑㼣㻌 㼣㼛㼡㼘㼐㻌 㼔㼍㼢㼑㻌 㼎㼑㼑㼚㻌㼠㼔㼑㻌㻳㼞㼑㼍㼠㻌㻱㼍㼟㼠㻌㻶㼍㼜㼍㼚㻌㻱㼍㼞㼠㼔㼝㼡㼍㼗㼑㻌㼠㼍㼜㼑㼞㼑㼐㻌㼛㼒㼒㻚㻌㻭㼟㻌㼍㻌㼞㼑㼟㼡㼘㼠㻘㻌㼟㼍㼘㼑㼟㻌\㻝㻞㻜㻘㻠㻞㻢㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼀㼔㼡㼟㻘㻌\㻞㻘㻤㻝㻢㻌㼙㼕㼘㼘㼕㼛㼚㻌㼕㼚㻌㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌㼟㼍㼘㼑㼟㻌㼏㼍㼚㻌㼎㼑㻌㼕㼚㻌 㼠㼔㼑㻌 㼟㼑㼓㼙㼑㼚㼠㻌 㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌 㼎㼥㻌 㻡㻚㻤㻑㻌 㼥㼑㼍㼞㻙㼛㼚㻙㼥㼑㼍㼞㻌 㼠㼛㻌 \㻝㻟㻘㻣㻜㻥㻌㼍㼠㼠㼞㼕㼎㼡㼠㼑㼐㻌㼠㼛㻌㼠㼔㼑㻌㼍㼜㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㼥㼑㼚㻚㻌㼙㼕㼘㼘㼕㼛㼚㻌㼍㼚㼐㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻌㼐㼑㼏㼘㼕㼚㼑㼐㻌㼎㼥㻌㻟㻡㻚㻝㻑㻌㼠㼛㻌\㻝㻘㻢㻠㻞㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㻌㻌㻯㼛㼟㼠㻌㼛㼒㻌㻿㼍㼘㼑㼟㻘㻌㻿㻳㻒㻭㻌㻱㼤㼜㼑㼚㼟㼑㼟㻘㻌㼍㼚㼐㻌㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㻵㼚㼏㼛㼙㼑㻌㻔㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻕㻌㻯㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼏㼛㼟㼠㻌 㼛㼒㻌 㼟㼍㼘㼑㼟㻌 㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌 㼎㼥㻌 \㻞㻘㻜㻟㻥㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼠㼛㻌㻭㼘㼠㼔㼛㼡㼓㼔㻌㼟㼍㼘㼑㼟㻌㼛㼒㻌㼎㼘㼛㼛㼐㻌㼏㼑㼘㼘㻌㼠㼑㼟㼠㼕㼚㼓㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㼣㼑㼞㼑㻌㼞㼛㼎㼡㼟㼠㻌㼕㼚㻌\㻢㻤㻘㻞㻞㻜㻌 㼙㼕㼘㼘㼕㼛㼚㻚㻌 㼀㼔㼑㻌 㼏㼛㼟㼠㻌 㼛㼒㻌 㼟㼍㼘㼑㼟㻌 㼞㼍㼠㼕㼛㻌 㼐㼑㼠㼑㼞㼕㼛㼞㼍㼠㼑㼐㻌 㼎㼥㻌 㻝㻚㻝㻌㼢㼍㼞㼕㼛㼡㼟㻌㻭㼟㼕㼍㼚㻌㼏㼛㼡㼚㼠㼞㼕㼑㼟㻘㻌㼟㼍㼘㼑㼟㻌㼐㼑㼏㼘㼕㼚㼑㼐㻌㼕㼚㻌㻱㼡㼞㼛㼜㼑㻌㼍㼚㼐㻌㼠㼔㼑㻌㼁㻿㻌㼐㼡㼑㻌㼜㼑㼞㼏㼑㼚㼠㼍㼓㼑㻌 㼜㼛㼕㼚㼠㼟㻌 㼒㼞㼛㼙㻌 㼍㻌 㼥㼑㼍㼞㻌 㼍㼓㼛㻌 㼠㼛㻌 㻡㻤㻚㻜㻑㻘㻌 㼐㼡㼑㻌 㼙㼍㼕㼚㼘㼥㻌 㼠㼛㻌 㼠㼔㼑㻌㼠㼛㻌 㼠㼔㼑㻌 㼟㼠㼞㼛㼚㼓㼑㼞㻌 㼥㼑㼚㻚㻌 㻯㼛㼚㼟㼑㼝㼡㼑㼚㼠㼘㼥㻘㻌 㼟㼍㼘㼑㼟㻌 㼕㼚㻌 㼠㼔㼑㻌 㼟㼑㼓㼙㼑㼚㼠㻌㼡㼚㼐㼑㼞㻌 㼡㼠㼕㼘㼕㼦㼍㼠㼕㼛㼚㻌 㼛㼒㻌 㼠㼔㼑㻌 㼜㼘㼍㼚㼠㼟㻌 㼞㼑㼟㼡㼘㼠㼕㼚㼓㻌 㼍㻌 㼐㼑㼏㼘㼕㼚㼑㻌 㼕㼚㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌㼎㼥㻌㻠㻚㻢㻑㻌㼥㼑㼍㼞㻙㼛㼚㻙㼥㼑㼍㼞㻌㼠㼛㻌\㻞㻞㻘㻠㻜㻜㻌㼙㼕㼘㼘㼕㼛㼚㻌㼍㼚㼐㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼢㼛㼘㼡㼙㼑㻚㻌 㻱㼤㼏㼘㼡㼐㼕㼚㼓㻌 \㻝㻘㻢㻠㻥㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼒㼞㼛㼙㻌 㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌 㼕㼚㻌 㼒㼛㼞㼑㼕㼓㼚㻌㼕㼚㼏㼛㼙㼑㻌㼐㼑㼏㼘㼕㼚㼑㼐㻌㼎㼥㻌㻞㻝㻚㻣㻑㻌㼠㼛㻌\㻞㻘㻠㻣㻤㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㼞㼍㼠㼑㼟㻘㻌㼔㼛㼣㼑㼢㼑㼞㻘㻌㼠㼔㼑㻌㼍㼏㼠㼡㼍㼘㻌㼐㼑㼏㼞㼑㼍㼟㼑㻌㼕㼚㻌㼏㼛㼟㼠㻌㼣㼍㼟㻌\㻟㻥㻜㻌㻌㼙㼕㼘㼘㼕㼛㼚㻌㼞㼍㼠㼔㼑㼞㻌㼠㼔㼍㼚㻌㼠㼔㼑㻌㼚㼛㼙㼕㼚㼍㼘㻌㼐㼑㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌\㻞㻘㻜㻟㻥㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㻔㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻕㻌㻿㼑㼘㼘㼕㼚㼓㻘㻌 㼓㼑㼚㼑㼞㼍㼘㻌 㼍㼚㼐㻌 㼍㼐㼙㼕㼚㼕㼟㼠㼞㼍㼠㼕㼢㼑㻌 㻔㻿㻳㻒㻭㻕㻌 㼑㼤㼜㼑㼚㼟㼑㼟㻌㻵㼚㻌 㼠㼔㼑㻌 㼒㼕㼞㼟㼠㻌 㼔㼍㼘㼒㻌 㼛㼒㻌 㼠㼔㼑㻌 㼥㼑㼍㼞㻘㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌 㼞㼑㼏㼛㼢㼑㼞㼑㼐㻌 㼍㼠㻌 㼟㼛㼙㼑㻌㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌 㼎㼥㻌 \㻢㻡㻞㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼒㼞㼛㼙㻌 㼠㼔㼑㻌 㼜㼞㼑㼢㼕㼛㼡㼟㻌 㼥㼑㼍㼞㻌 㼠㼛㻌 \㻟㻣㻘㻢㻟㻣㻌㼟㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌 㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌 㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼑㼞㼟㻘㻌 㼣㼔㼕㼏㼔㻌 㼍㼞㼑㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌 㼀㼔㼑㻌 㼞㼍㼠㼕㼛㻌 㼠㼛㻌 㼚㼑㼠㻌 㼟㼍㼘㼑㼟㻌 㼐㼑㼠㼑㼞㼕㼛㼞㼍㼠㼑㼐㻌 㼎㼥㻌 㻝㻚㻜㻌 㼜㼑㼞㼏㼑㼚㼠㼍㼓㼑㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼏㼡㼟㼠㼛㼙㼑㼞㼟㻘㻌 㼍㼚㼐㻌 㼞㼑㼟㼡㼘㼠㼑㼐㻌 㼕㼚㻌 㼍㼚㻌 㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼕㼚㻌 㼟㼍㼘㼑㼟㻌 㼛㼒㻌㼜㼛㼕㼚㼠㼟㻌 㼠㼛㻌 㻟㻞㻚㻜㻑㻌 㼐㼡㼑㻌 㼙㼍㼕㼚㼘㼥㻌 㼠㼛㻌 㼍㼚㻌 㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼕㼚㻌 㻾㻒㻰㻌 㼑㼤㼜㼑㼚㼟㼑㼟㻚㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼙㼍㼕㼚㼟㼠㼍㼥㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌㼟㼡㼏㼔㻌㼍㼟㻌㼙㼍㼟㼟㻌㼒㼘㼛㼣㻌㼏㼛㼚㼠㼞㼛㼘㼘㼑㼞㼟㻌㼍㼚㼐㻌㻱㼤㼏㼘㼡㼐㼕㼚㼓㻌\㻥㻠㻠㻌㼙㼕㼘㼘㼕㼛㼚㻌㼒㼞㼛㼙㻌㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌㼕㼚㻌㼒㼛㼞㼑㼕㼓㼚㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㼞㼍㼠㼑㼟㻘㻌㼏㼔㼑㼙㼕㼏㼍㼘㻌㼏㼛㼚㼏㼑㼚㼠㼞㼍㼠㼕㼛㼚㻌㼙㼛㼚㼕㼠㼛㼞㼟㻚㻌㻵㼚㻌㼠㼔㼑㻌㼟㼑㼏㼛㼚㼐㻌㼔㼍㼘㼒㻌㼛㼒㻌㼠㼔㼑㻌㼥㼑㼍㼞㻘㻌㼔㼛㼣㼑㼢㼑㼞㻘㻌㼠㼔㼑㻌㼍㼏㼠㼡㼍㼘㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌㼕㼚㻌㻿㻳㻒㻭㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼣㼍㼟㻌\㻞㻥㻝㻌㼙㼕㼘㼘㼕㼛㼚㻌㼔㼛㼣㼑㼢㼑㼞㻘㻌㼟㼍㼘㼑㼟㻌㼐㼑㼏㼘㼕㼚㼑㼐㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌㼕㼙㼜㼍㼏㼠㻌㼛㼒㻌㼏㼡㼟㼠㼛㼙㼑㼞㻌㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼞㼍㼠㼔㼑㼞㻌㼠㼔㼍㼚㻌㼠㼔㼑㻌㼚㼛㼙㼕㼚㼍㼘㻌㼐㼑㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌\㻢㻡㻞㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㼟㻌㼍㼚㼐㻌㼜㼞㼛㼒㼕㼠㼍㼎㼕㼘㼕㼠㼥㻌㼐㼑㼠㼑㼞㼕㼛㼞㼍㼠㼑㼐㻌㼟㼡㼎㼟㼠㼍㼚㼠㼕㼍㼘㼘㼥㻚㻌㻿㼍㼘㼑㼟㻌㼕㼚㻌㻭㼟㻌 㼍㻌 㼞㼑㼟㼡㼘㼠㻘㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌 㼕㼚㼏㼛㼙㼑㻌 㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌 㼎㼥㻌㼠㼔㼑㻌㼟㼑㼓㼙㼑㼚㼠㻌㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌㼎㼥㻌㻞㻣㻚㻣㻑㻌㼥㼑㼍㼞㻙㼛㼚㻙㼥㼑㼍㼞㻌㼠㼛㻌\㻝㻣㻘㻤㻢㻝㻌㼙㼕㼘㼘㼕㼛㼚㻌\㻟㻘㻝㻡㻡㻌 㼙㼕㼘㼘㼕㼛㼚㻘㻌 㼛㼞㻌 㻞㻝㻚㻞㻑㻘㻌 㼥㼑㼍㼞㻌 㼛㼚㻌 㼥㼑㼍㼞㻌 㼠㼛㻌 \㻝㻝㻘㻣㻡㻝㻌 㼙㼕㼘㼘㼕㼛㼚㻚㻌 㼀㼔㼑㻌㼍㼚㼐㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻌㼐㼑㼏㼘㼕㼚㼑㼐㻌㼎㼥㻌㻡㻟㻚㻥㻑㻌㼠㼛㻌\㻞㻘㻞㻣㻠㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌 㼕㼚㼏㼛㼙㼑㻌 㼞㼍㼠㼕㼛㻌 㼣㼍㼟㻌 㻝㻜㻚㻜㻑㻘㻌 㼐㼛㼣㼚㻌 㻞㻚㻝㻌 㼜㼑㼞㼏㼑㼚㼠㼍㼓㼑㻌 㼜㼛㼕㼚㼠㼟㻌㻌㼒㼞㼛㼙㻌㻝㻞㻚㻝㻑㻌㼒㼛㼞㻌㼠㼔㼑㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌㼥㼑㼍㼞㻚㻌㻔㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻕㻌㻌㻵㼚㻌 㻶㼍㼜㼍㼚㻘㻌 㼟㼍㼘㼑㼟㻌 㼛㼒㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼟㼡㼏㼔㻌 㼍㼟㻌 㼚㼑㼣㼘㼥㻌 㼞㼑㼘㼑㼍㼟㼑㼐㻌 㼜㻴㻌 㼙㼑㼠㼑㼞㼟㻌㻮㼡㼟㼕㼚㼑㼟㼟㻌㻿㼑㼓㼙㼑㼚㼠㼟㻌 㻌㼟㼔㼛㼣㼑㼐㻌 㼡㼚㼐㼑㼞㼘㼥㼕㼚㼓㻌 㼟㼠㼞㼑㼚㼓㼠㼔㻚㻌 㻴㼛㼣㼑㼢㼑㼞㻘㻌 㼟㼍㼘㼑㼟㻌 㼛㼒㻌 㻴㻻㻾㻵㻮㻭㻌 㻶㼛㼎㼕㼚㻌㼀㼔㼑㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼞㼑㼟㼡㼘㼠㼟㻌㼛㼒㻌㼑㼍㼏㼔㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼟㼑㼓㼙㼑㼚㼠㻌㼍㼞㼑㻌㼟㼡㼙㼙㼍㼞㼕㼦㼑㼐㻌㼅㼢㼛㼚䇻㼟㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼒㼑㼘㼘㻌 㼍㼒㼠㼑㼞㻌 㼓㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌 㼎㼡㼐㼓㼑㼠㻌 㼞㼑㼐㼡㼏㼠㼕㼛㼚㼟㻌 㼕㼚㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻚㻌㼢㼍㼞㼕㼛㼡㼟㻌 㼏㼛㼡㼚㼠㼞㼕㼑㼟㻌 㼍㼚㼐㻌 㼍㼒㼠㼑㼞㻌 㼏㼛㼚㼢㼑㼞㼟㼕㼛㼚㻌 㼠㼛㻌 㼠㼔㼑㻌 㼟㼠㼞㼛㼚㼓㼑㼞㻌 㼥㼑㼚㻚㻌㻌㻯㼛㼚㼟㼑㼝㼡㼑㼚㼠㼘㼥㻘㻌 㼟㼍㼘㼑㼟㻌 㼕㼚㻌 㼠㼔㼑㻌 㼟㼑㼓㼙㼑㼚㼠㻌 㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌 㼎㼥㻌 㻣㻚㻠㻑㻌㻔㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㼀㼑㼟㼠㻌㻿㼥㼟㼠㼑㼙㼟㻕㻌㼥㼑㼍㼞㻙㼛㼚㻙㼥㼑㼍㼞㻌 㼠㼛㻌 \㻞㻜㻘㻠㻜㻢㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼍㼚㼐㻌 㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌 㼕㼚㼏㼛㼙㼑㻌 㼐㼑㼏㼘㼕㼚㼑㼐㻌㻭㼘㼠㼔㼛㼡㼓㼔㻌 㼟㼍㼘㼑㼟㻌 㼐㼑㼏㼘㼕㼚㼑㼐㻌 㼕㼚㻌 㻱㼡㼞㼛㼜㼑㻌 㼎㼑㼏㼍㼡㼟㼑㻌 㼛㼒㻌 㼠㼔㼑㻌 㼥㼑㼚䇻㼟㻌㼎㼥㻌㻟㻠㻚㻞㻑㻌㼠㼛㻌\㻥㻠㻟㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼍㼜㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌 㼒㼛㼞㻌 㼠㼔㼑㻌 㼜㼑㼞㼕㼛㼐㻘㻌 㼟㼕㼓㼚㼟㻌 㼛㼒㻌 㼍㻌 㼞㼑㼏㼛㼢㼑㼞㼥㻌 㼕㼚㻌 㼏㼍㼜㼕㼠㼍㼘㻌㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼍㼚㼐㻌㻾㻒㻰㻌㼑㼤㼜㼑㼚㼐㼕㼠㼡㼞㼑㻌㼎㼥㻌㼍㼡㼠㼛㼙㼍㼗㼑㼞㼟㻌㼕㼚㻌㼠㼔㼑㻌㼁㻿㻌㼍㼚㼐㻌㻺㼑㼠㻌㻵㼚㼏㼛㼙㼑㻌㻶㼍㼜㼍㼚㻌 㼣㼑㼞㼑㻌 㼑㼢㼕㼐㼑㼚㼠㻘㻌 㼍㼚㼐㻌 㼟㼍㼘㼑㼟㻌 㼓㼞㼑㼣㻌 㼕㼚㻌 㻭㼟㼕㼍㻌 㼕㼚㻌 㼞㼑㼟㼜㼛㼚㼟㼑㻌 㼠㼛㻌㻻㼠㼔㼑㼞㻌 㼕㼚㼏㼛㼙㼑㻌 㻔㼑㼤㼜㼑㼚㼟㼑㼟㻕㻌 㼕㼙㼜㼞㼛㼢㼑㼐㻌 㼎㼥㻌 \㻢㻣㻤㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼒㼞㼛㼙㻌 㼒㼕㼟㼏㼍㼘㻌㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻚㻌 㻹㼛㼞㼑㼛㼢㼑㼞㻘㻌 㼍㼟㻌 㼟㼍㼘㼑㼟㻌 㼛㼒㻌 㼑㼚㼓㼕㼚㼑㻌 㼑㼙㼕㼟㼟㼕㼛㼚㻌㻞㻜㻝㻝㻌㼠㼛㻌㼍㻌㼘㼛㼟㼟㻌㼛㼒㻌\㻡㻤㻝㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㻔㼀㼔㼑㻌㼞㼑㼟㼡㼘㼠㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻝㻌㼣㼍㼟㻌㼐㼡㼑㻌㼙㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠㻌㼟㼥㼟㼠㼑㼙㼟㻘㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼙㼍㼖㼛㼞㻌㼜㼞㼛㼐㼡㼏㼠㻘㻌㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌㼍㼚㼐㻌㼕㼚㻌 㼜㼍㼞㼠㻌 㼠㼛㻌 㼍㻌 㼘㼛㼟㼟㻌 㼛㼚㻌 㼢㼍㼘㼡㼍㼠㼕㼛㼚㻌 㼛㼒㻌 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌 㼛㼒㻌 \㻟㻣㻜㻌㼏㼛㼟㼠㻌㼏㼡㼠㼠㼕㼚㼓㻌㼎㼛㼞㼑㻌㼒㼞㼡㼕㼠㻌㼕㼚㻌㼠㼔㼑㻌㻹㻯㼀㻌㼎㼡㼟㼕㼚㼑㼟㼟㻘㻌㼜㼞㼛㼒㼕㼠㼍㼎㼕㼘㼕㼠㼥㻌㼕㼙㼜㼞㼛㼢㼑㼐㻌㼙㼕㼘㼘㼕㼛㼚㻌㼍㼚㼐㻌㼜㼞㼛㼢㼕㼟㼕㼛㼚㻌㼒㼛㼞㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼟㼠㼞㼡㼏㼠㼡㼞㼑㻌㼕㼙㼜㼞㼛㼢㼑㼙㼑㼚㼠㻌㼛㼒㻌\㻞㻢㻣㻌㼕㼚㻌㼠㼔㼑㻌㼟㼑㼏㼛㼚㼐㻌㼔㼍㼘㼒㻌㼛㼒㻌㼠㼔㼑㻌㼥㼑㼍㼞㻌㼕㼚㻌㼜㼍㼞㼠㼕㼏㼡㼘㼍㼞㻚㻌㻯㼛㼚㼟㼑㼝㼡㼑㼚㼠㼘㼥㻘㻌㼟㼍㼘㼑㼟㻌㼕㼚㻌㼙㼕㼘㼘㼕㼛㼚㻌 㼏㼍㼡㼟㼑㼐㻌 㼎㼥㻌 㼞㼑㼟㼠㼞㼡㼏㼠㼡㼞㼕㼚㼓㻌 㻹㻯㼀㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼕㼚㻌 㻳㼑㼞㼙㼍㼚㼥㻚㻕㻌㼠㼔㼑㻌㼟㼑㼓㼙㼑㼚㼠㻌㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌㼎㼥㻌㻝㻝㻚㻤㻑㻌㼥㼑㼍㼞㻙㼛㼚㻙㼥㼑㼍㼞㻌㼠㼛㻌\㻠㻟㻘㻞㻟㻜㻌㼙㼕㼘㼘㼕㼛㼚㻌㻺㼑㼢㼑㼞㼠㼔㼑㼘㼑㼟㼟㻘㻌㼎㼑㼏㼍㼡㼟㼑㻌㼛㼒㻌㼠㼔㼑㻌㼐㼑㼠㼑㼞㼕㼛㼞㼍㼠㼕㼛㼚㻌㼕㼚㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻘㻌㼍㼚㼐㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻌㼞㼛㼟㼑㻌㼎㼥㻌㻡㻡㻚㻣㻑㻌㼠㼛㻌\㻠㻘㻠㻝㻞㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼜㼞㼑㼠㼍㼤㻌㼕㼚㼏㼛㼙㼑㻌㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌㼎㼥㻌\㻞㻘㻠㻣㻢㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㼛㼞㻌㻝㻤㻚㻝㻑㻘㻌㼠㼛㻌\㻝㻝㻘㻝㻣㻜㻌㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㼍㼚㼐㻌㼚㼑㼠㻌㼕㼚㼏㼛㼙㼑㻌㼐㼑㼏㼞㼑㼍㼟㼑㼐㻌㼎㼥㻌\㻝㻘㻞㻢㻤㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㼛㼞㻌㻝㻠㻚㻢㻑㻘㻌㼠㼛㻌㻔㻼㼞㼛㼏㼑㼟㼟㻌㻒㻌㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻕㻌\㻣㻘㻟㻥㻢㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㻿㼠㼍㼏㼗㻌 㼓㼍㼟㻌 㼍㼚㼍㼘㼥㼦㼑㼞㼟㻌 㼒㼛㼞㻌 㼠㼔㼑㼞㼙㼍㼘㻌 㼜㼛㼣㼑㼞㻌 㼜㼘㼍㼚㼠㼟㻘㻌 㼣㼍㼠㼑㼞㻌 㼝㼡㼍㼘㼕㼠㼥㻌㻌
Annual Report 2012 | 46

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Consolidated Financial Review㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌㻼㼛㼟㼕㼠㼕㼛㼚㻌㼍㼚㼚㼕㼢㼑㼞㼟㼍㼞㼥㻌 㼛㼒㻌 㼕㼠㼟㻌 㼒㼛㼡㼚㼐㼍㼠㼕㼛㼚㻌 㼍㼚㼐㻌 㼛㼠㼔㼑㼞㻌 㼙㼕㼘㼑㼟㼠㼛㼚㼑㼟㻌 㼍㼚㼐㻌 㼜㼍㼥㼟㻌㻭㼟㻌 㼛㼒㻌 㻰㼑㼏㼑㼙㼎㼑㼞㻌 㻟㻝㻘㻌 㻞㻜㻝㻞㻘㻌 㼠㼛㼠㼍㼘㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼍㼟㼟㼑㼠㼟㻌 㼣㼑㼞㼑㻌㼟㼜㼑㼏㼕㼍㼘㻌㼐㼕㼢㼕㼐㼑㼚㼐㼟㻌 㼛㼚㻌㼛㼠㼔㼑㼞㻌 㼛㼏㼏㼍㼟㼕㼛㼚㼟㻚㻌 㼀㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼞㼑㼏㼑㼕㼢㼑㼟㻌㼍㻌\㻝㻡㻟㻘㻤㻟㻢㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㼡㼜㻌\㻥㻘㻝㻤㻢㻌㼙㼕㼘㼘㼕㼛㼚㻌㼒㼞㼛㼙㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻚㻌㼀㼔㼑㻌㼏㼑㼞㼠㼍㼕㼚㻌㼜㼞㼛㼜㼛㼞㼠㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㼚㼑㼠㻌㼕㼚㼏㼛㼙㼑㻌㼛㼒㻌㼑㼍㼏㼔㻌㼓㼞㼛㼡㼜㻌㼏㼛㼙㼜㼍㼚㼥㻌㼍㼟㻌㼍㻌㼙㼍㼕㼚㻌㼒㼍㼏㼠㼛㼞㼟㻌㼏㼛㼚㼠㼞㼕㼎㼡㼠㼕㼚㼓㻌㼠㼛㻌㼠㼔㼑㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌㼠㼛㼠㼍㼘㻌㼍㼟㼟㼑㼠㼟㻌㼣㼑㼞㼑㻌㼍㼚㻌㼐㼕㼢㼕㼐㼑㼚㼐㻚㻌㼀㼔㼡㼟㻘㻌㼍㼘㼠㼔㼛㼡㼓㼔㻌㼐㼕㼢㼕㼐㼑㼚㼐㻌㼜㼍㼥㼙㼑㼚㼠㼟㻌㼠㼛㻌㼟㼔㼍㼞㼑㼔㼛㼘㼐㼑㼞㼟㻌㼍㼞㼑㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼕㼚㻌 㼏㼍㼟㼔㻌 㼍㼚㼐㻌 㼏㼍㼟㼔㻌 㼑㼝㼡㼕㼢㼍㼘㼑㼚㼠㼟㻌 㼛㼒㻌\㻟㻘㻜㻥㻜㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼍㼚㼐㻌 㼍㼚㻌㼏㼛㼙㼜㼡㼠㼑㼐㻌 㼎㼍㼟㼑㼐㻌 㼛㼚㻌 㼠㼔㼑㻌 㼚㼛㼚㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼚㼑㼠㻌 㼕㼚㼏㼛㼙㼑㻌 㼛㼒㻌 㼠㼔㼑㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼕㼚㻌 㼏㼍㼜㼕㼠㼍㼘㻌 㼑㼤㼜㼑㼚㼐㼕㼠㼡㼞㼑㼟㻌 㼠㼔㼍㼠㻌 㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌 㼎㼡㼕㼘㼐㼕㼚㼓㼟㻌 㼍㼚㼐㻌㻯㼛㼙㼜㼍㼚㼥㻘㻌 㼠㼔㼑㼥㻌㼍㼞㼑㻌 㼕㼚㻌 㼑㼒㼒㼑㼏㼠㻌 㼙㼍㼐㼑㻌 㼛㼚㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼑㼍㼞㼚㼕㼚㼓㼟㻚㻌 㻵㼚㻌㼟㼠㼞㼡㼏㼠㼡㼞㼑㼟㻌㼎㼥㻌\㻠㻘㻣㻢㻢㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼍㼐㼐㼕㼠㼕㼛㼚㻘㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼕㼚㼠㼑㼚㼐㼟㻌 㼠㼛㻌 㼍㼜㼜㼞㼛㼜㼞㼕㼍㼠㼑㻌 㼕㼚㼠㼑㼞㼚㼍㼘㻌 㼞㼑㼟㼑㼞㼢㼑㼟㻌㼀㼛㼠㼍㼘㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌㼎㼥㻌\㻝㻝㻜㻌㼙㼕㼘㼘㼕㼛㼚㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌㼒㼛㼞㻌㼞㼑㼠㼍㼕㼚㼑㼐㻌㼑㼍㼞㼚㼕㼚㼓㼟㻌㼍㼟㻌㼣㼛㼞㼗㼕㼚㼓㻌㼏㼍㼜㼕㼠㼍㼘㻌㼒㼛㼞㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼑㼤㼜㼍㼚㼟㼕㼛㼚㻘㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌㼥㼑㼍㼞㻌㼠㼛㻌\㻡㻠㻘㻞㻥㻥㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼀㼔㼑㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌㼕㼚㻌㼠㼛㼠㼍㼘㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌㼏㼍㼜㼕㼠㼍㼘㻌㼑㼤㼜㼑㼚㼐㼕㼠㼡㼞㼑㻌㼍㼚㼐㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼕㼚㻌㼞㼑㼟㼑㼍㼞㼏㼔㻌㼍㼚㼐㻌㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌㼣㼍㼟㻌㼐㼡㼑㻌㼙㼍㼕㼚㼘㼥㻌㼠㼛㻌㼍㼚㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌\㻝㻘㻡㻠㻤㻌㼙㼕㼘㼘㼕㼛㼚㻌㼕㼚㻌㼛㼠㼔㼑㼞㻌㼏㼡㼞㼞㼑㼚㼠㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼍㼕㼙㻌㼛㼒㻌㼕㼙㼜㼞㼛㼢㼕㼚㼓㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼢㼍㼘㼡㼑㻌㼕㼚㻌㼠㼔㼑㻌㼙㼑㼐㼕㼡㼙㻌㼠㼛㻌㼘㼛㼚㼓㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌㼐㼑㼟㼜㼕㼠㼑㻌㼍㻌㼐㼑㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌\㻝㻘㻟㻢㻣㻌㼙㼕㼘㼘㼕㼛㼚㻌㼕㼚㻌㼠㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼠㼑㼞㼙㻚㻌

㼍㼏㼏㼛㼡㼚㼠㼟㻌㼜㼍㼥㼍㼎㼘㼑㻚㻌㻌 㻌 㻲㼞㼛㼙㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻟㻘㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼣㼕㼘㼘㻌㼍㼐㼛㼜㼠㻌㼍㻌㼐㼕㼢㼕㼐㼑㼚㼐㻌㼜㼛㼘㼕㼏㼥㻌㼕㼚㻌㼀㼛㼠㼍㼘㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼚㼑㼠㻌㼍㼟㼟㼑㼠㼟㻌㼍㼙㼛㼡㼚㼠㼑㼐㻌㼠㼛㻌\㻥㻥㻘㻡㻟㻢㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㼡㼜㻌㼣㼔㼕㼏㼔㻌㼕㼠㻌㼣㼕㼘㼘㻌㼙㼍㼕㼚㼠㼍㼕㼚㻌㼍㻌㼠㼛㼠㼍㼘㻌㼟㼔㼍㼞㼑㼔㼛㼘㼐㼑㼞㻌㼞㼑㼠㼡㼞㼚㻌㼞㼍㼠㼕㼛㻌㼛㼒㻌㼍㼞㼛㼡㼚㼐㻌\㻥㻘㻜㻣㻢㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼒㼞㼛㼙㻌 㼍㻌 㼥㼑㼍㼞㻌 㼍㼓㼛㻘㻌 㼐㼡㼑㻌 㼙㼍㼕㼚㼘㼥㻌 㼠㼛㻌 㼍㼚㻌 㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼛㼒㻌㻟㻜㻑㻌㼛㼒㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼚㼑㼠㻌㼕㼚㼏㼛㼙㼑㻌㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻘㻌㼏㼛㼙㼎㼕㼚㼑㼐㻌㼣㼕㼠㼔㻌\㻡㻘㻠㻠㻢㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼕㼚㻌 㼞㼑㼠㼍㼕㼚㼑㼐㻌 㼑㼍㼞㼚㼕㼚㼓㼟㻌 㼍㼚㼐㻌 \㻟㻘㻞㻤㻥㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼕㼚㻌 㼒㼛㼞㼑㼕㼓㼚㻌㼠㼔㼑㻌 㼍㼙㼛㼡㼚㼠㻌 㼛㼒㻌 㼐㼕㼢㼕㼐㼑㼚㼐㻌 㼜㼍㼥㼙㼑㼚㼠㼟㻌 㼍㼚㼐㻌 㼠㼔㼑㻌 㼍㼙㼛㼡㼚㼠㻌 㼛㼒㻌 㼟㼔㼍㼞㼑㻌㼏㼡㼞㼞㼑㼚㼏㼥㻌㼠㼞㼍㼚㼟㼘㼍㼠㼕㼛㼚㻌㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㼟㻚㻌㼞㼑㼜㼡㼞㼏㼔㼍㼟㼑㼟㻘㻌㼕㼚㻌㼞㼑㼟㼜㼛㼚㼟㼑㻌㼠㼛㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥䇻㼟㻌㼑㼤㼜㼍㼚㼟㼕㼛㼚㻌㼍㼚㼐㻌㼠㼔㼑㻌㻌㼑㼚㼔㼍㼚㼏㼑㼙㼑㼚㼠㻌 㼕㼚㻌 㼜㼞㼛㼒㼕㼠㼍㼎㼕㼘㼕㼠㼥㻌 㼛㼒㻌 㼐㼛㼙㼑㼟㼠㼕㼏㻌 㼍㼚㼐㻌 㼛㼢㼑㼞㼟㼑㼍㼟㻌 㼓㼞㼛㼡㼜㻌㻯㼍㼟㼔㻌㻲㼘㼛㼣㼟㻌㼏㼛㼙㼜㼍㼚㼕㼑㼟㻌㼍㼚㼐㻌㼣㼕㼠㼔㻌㼍㻌㼢㼕㼑㼣㻌㼠㼛㻌㼠㼔㼑㻌㼒㼘㼑㼤㼕㼎㼘㼑㻌㼞㼑㼜㼡㼞㼏㼔㼍㼟㼕㼚㼓㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻌㻔㻯㼍㼟㼔㻌㻲㼘㼛㼣㻌㼒㼞㼛㼙㻌㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㻭㼏㼠㼕㼢㼕㼠㼕㼑㼟㻕㻌㼕㼚㻌 㼍㼏㼏㼛㼞㼐㼍㼚㼏㼑㻌 㼣㼕㼠㼔㻌 㼠㼔㼑㻌 㼟㼠㼍㼠㼑㻌 㼛㼒㻌 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌 㼙㼍㼞㼗㼑㼠㼟㻌 㼍㼚㼐㻌 㼠㼔㼑㻌㻺㼑㼠㻌㼏㼍㼟㼔㻌 㼜㼞㼛㼢㼕㼐㼑㼐㻌㼎㼥㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌 㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟㻌㼍㼙㼛㼡㼚㼠㼑㼐㻌㼠㼛㻌\㻝㻟㻘㻟㻥㻡㻌㻯㼛㼙㼜㼍㼚㼥䇻㼟㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼏㼛㼚㼐㼕㼠㼕㼛㼚㻚㻌 㼀㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼣㼕㼘㼘㻌 㼏㼛㼚㼠㼕㼚㼡㼑㻌 㼠㼛㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㼏㼛㼙㼜㼍㼞㼑㼐㻌㼠㼛㻌\㻢㻘㻥㻡㻠㻌㼙㼕㼘㼘㼕㼛㼚㻌㼜㼞㼛㼢㼕㼐㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌㼥㼑㼍㼞㻚㻌㼙㼍㼗㼑㻌 㼑㼒㼒㼑㼏㼠㼕㼢㼑㻌 㼡㼟㼑㻌 㼛㼒㻌 㼕㼚㼠㼑㼞㼚㼍㼘㻌 㼞㼑㼟㼑㼞㼢㼑㼟㻌 㼠㼛㻌 㼕㼙㼜㼞㼛㼢㼑㻌 㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㻲㼍㼏㼠㼛㼞㼟㻌 㼏㼛㼚㼠㼞㼕㼎㼡㼠㼕㼚㼓㻌 㼠㼛㻌 㼠㼔㼕㼟㻌 㼍㼙㼛㼡㼚㼠㻌 㼕㼚㼏㼘㼡㼐㼑㼐㻌 㼍㼚㻌 㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼛㼒㻌㼢㼍㼘㼡㼑㻌㼠㼔㼞㼛㼡㼓㼔㻌㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌㼜㼞㼛㼒㼕㼠㻌㼍㼚㼐㻌㼒㼛㼏㼡㼟㻌㼛㼚㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼕㼚㻌㼓㼞㼛㼣㼠㼔㻌\㻝㻝㻘㻝㻣㻜㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼕㼚㻌 㼕㼚㼏㼛㼙㼑㻌 㼎㼑㼒㼛㼞㼑㻌 㼠㼍㼤㻌 㼍㼚㼐㻌 㼍㼚㻌 㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼕㼚㻌㼍㼞㼑㼍㼟㻌 㼍㼚㼐㻌 㼣㼕㼘㼘㻌 㼙㼍㼗㼑㻌 㼞㼑㼠㼡㼞㼚㼟㻌 㼠㼛㻌 㼟㼔㼍㼞㼑㼔㼛㼘㼐㼑㼞㼟㻌 㼠㼔㼍㼠㻌 㼍㼞㼑㻌 㼘㼕㼚㼗㼑㼐㻌 㼠㼛㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼍㼚㼐㻌㼍㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㼑㼤㼜㼑㼚㼟㼑㻌㼛㼒㻌\㻟㻘㻣㻠㻟㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌 㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼑㼍㼞㼚㼕㼚㼓㼟㻚㻌㻌㻌㻔㻯㼍㼟㼔㻌㻲㼘㼛㼣㻌㼒㼞㼛㼙㻌㻵㼚㼢㼑㼟㼠㼕㼚㼓㻌㻭㼏㼠㼕㼢㼕㼠㼕㼑㼟㻕㻌㻹㼍㼖㼛㼞㻌㻾㼕㼟㼗㼟㻌 㻌㻺㼑㼠㻌㼏㼍㼟㼔㻌㼡㼟㼑㼐㻌㼕㼚㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟㻌㼍㼙㼛㼡㼚㼠㼑㼐㻌㼠㼛㻌\㻣㻘㻤㻥㻝㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㻝㻚㻌㻮㼡㼟㼕㼚㼑㼟㼟㻌㻾㼕㼟㼗㼟㻌㼏㼛㼙㼜㼍㼞㼑㼐㻌㼠㼛㻌\㻢㻘㻝㻠㻡㻌㼙㼕㼘㼘㼕㼛㼚㻌㼡㼟㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌㼥㼑㼍㼞㻘㻌㼐㼡㼑㻌㼙㼍㼕㼚㼘㼥㻌㻔㻝㻕㻌㻾㼕㼟㼗㼟㻌㻭㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㼣㼕㼠㼔㻌㻵㼚㼠㼑㼞㼚㼍㼠㼕㼛㼚㼍㼘㻌㻮㼡㼟㼕㼚㼑㼟㼟㻌㻭㼏㼠㼕㼢㼕㼠㼕㼑㼟㻌㼠㼛㻌㼜㼍㼥㼙㼑㼚㼠㼟㻌㼛㼒㻌\㻢㻘㻣㻠㻝㻌㼙㼕㼘㼘㼕㼛㼚㻌㼒㼛㼞㻌㼜㼡㼞㼏㼔㼍㼟㼑㼟㻌㼛㼒㻌㼜㼞㼛㼜㼑㼞㼠㼥㻘㻌㼜㼘㼍㼚㼠㻌㼍㼚㼐㻌㻴㻻㻾㻵㻮㻭㻌㼏㼛㼚㼐㼡㼏㼠㼟㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟㻌㼕㼚㻌㼙㼍㼚㼥㻌㼏㼛㼡㼚㼠㼞㼕㼑㼟㻌㼍㼞㼛㼡㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻚㻌㼠㼔㼑㻌 㼣㼛㼞㼘㼐㻘㻌 㼕㼚㼏㼘㼡㼐㼕㼚㼓㻌 㼠㼔㼑㻌 㼁㻚㻿㻌 㼍㼚㼐㻌 㼏㼛㼡㼚㼠㼞㼕㼑㼟㻌 㼕㼚㻌 㻱㼡㼞㼛㼜㼑㻌 㼍㼚㼐㻌 㻭㼟㼕㼍㻚㻌㻌㻹㼍㼖㼛㼞㻌 㼞㼕㼟㼗㼟㻌 㼍㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌 㼣㼕㼠㼔㻌 㼠㼔㼑㻌 㼑㼚㼠㼞㼥㻌 㼕㼚㼠㼛㻌 㼠㼔㼑㼟㼑㻌 㼛㼢㼑㼞㼟㼑㼍㼟㻌㻔㻯㼍㼟㼔㻌㻲㼘㼛㼣㻌㼒㼞㼛㼙㻌㻲㼕㼚㼍㼚㼏㼕㼚㼓㻌㻭㼏㼠㼕㼢㼕㼠㼕㼑㼟㻕㻌㼙㼍㼞㼗㼑㼠㼟㻌㼍㼚㼐㻌㼏㼛㼚㼐㼡㼏㼠㼕㼚㼓㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼠㼔㼑㼞㼑㻌㼕㼚㼏㼘㼡㼐㼑㻌㼟㼡㼐㼐㼑㼚㻌㼟㼔㼕㼒㼠㼟㻌㼕㼚㻌㻺㼑㼠㻌㼏㼍㼟㼔㻌㼡㼟㼑㼐㻌㼕㼚㻌㼒㼕㼚㼍㼚㼏㼕㼚㼓㻌㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟㻌㼍㼙㼛㼡㼚㼠㼑㼐㻌㼠㼛㻌\㻟㻘㻟㻜㻠㻌㼙㼕㼘㼘㼕㼛㼚㻘㻌㼑㼏㼛㼚㼛㼙㼕㼏㻌 㼏㼛㼚㼐㼕㼠㼕㼛㼚㼟㻌 㼛㼞㻌 㼕㼚㻌 㼜㼞㼛㼐㼡㼏㼠㻌 㼟㼡㼜㼜㼘㼥㻌 㼍㼚㼐㻌 㼐㼑㼙㼍㼚㼐㻘㻌 㼟㼡㼐㼐㼑㼚㻌㼏㼛㼙㼜㼍㼞㼑㼐㻌㼠㼛㻌\㻤㻡㻡㻌㼙㼕㼘㼘㼕㼛㼚㻌㼜㼞㼛㼢㼕㼐㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼜㼞㼑㼢㼕㼛㼡㼟㻌㼥㼑㼍㼞㻚㻌㼀㼔㼕㼟㻌㼣㼍㼟㻌㼏㼔㼍㼚㼓㼑㼟㻌 㼕㼚㻌 㼞㼑㼠㼍㼕㼘㻌 㼜㼞㼕㼏㼑㼟㻌 㼐㼡㼑㻌 㼠㼛㻌 㼏㼛㼙㼜㼑㼠㼕㼠㼕㼛㼚㻘㻌 㼏㼔㼍㼚㼓㼑㼟㻌 㼕㼚㻌 㼘㼍㼣㼟㻘㻌㼙㼍㼕㼚㼘㼥㻌㼍㼠㼠㼞㼕㼎㼡㼠㼍㼎㼘㼑㻌㼠㼛㻌㼍㻌㼐㼑㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌\㻞㻘㻟㻥㻡㻌㼙㼕㼘㼘㼕㼛㼚㻌㼕㼚㻌㼟㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌㼞㼑㼓㼡㼘㼍㼠㼕㼛㼚㼟㻌 㼍㼚㼐㻌 㼠㼍㼤㻌 㼟㼥㼟㼠㼑㼙㼟㻌 㼍㼚㼐㻌 㼟㼛㼏㼕㼍㼘㻌 㼐㼕㼟㼞㼡㼜㼠㼕㼛㼚㼟㻌 㼟㼡㼏㼔㻌 㼍㼟㻌㼎㼛㼞㼞㼛㼣㼕㼚㼓㼟㻌㼍㼚㼐㻌㼜㼍㼥㼙㼑㼚㼠㻌㼛㼒㻌\㻝㻘㻥㻠㻟㻌㼙㼕㼘㼘㼕㼛㼚㻌㼕㼚㻌㼐㼕㼢㼕㼐㼑㼚㼐㼟㻘㻌㼣㼔㼕㼘㼑㻌㼍㼚㻌㼠㼑㼞㼞㼛㼞㼕㼟㼙㻌㼍㼚㼐㻌㼣㼍㼞㻚㻌㼀㼔㼑㼟㼑㻌㼞㼕㼟㼗㼟㻌㼏㼛㼡㼘㼐㻌㼍㼒㼒㼑㼏㼠㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌㼘㼛㼚㼓㻙㼠㼑㼞㼙㻌㼐㼑㼎㼠㻌㼣㼍㼟㻌\㻝㻘㻤㻞㻣㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼜㼛㼟㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼞㼑㼟㼡㼘㼠㼟㻚㻌㻌

47㼀㼛㻌㼜㼞㼛㼠㼑㼏㼠㻌㼍㼓㼍㼕㼚㼟㼠㻌㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌㼕㼚㻌㼒㼛㼞㼑㼕㼓㼚㻌㼏㼡㼞㼞㼑㼚㼏㼥㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㻭㼟㻌㼍㻌㼞㼑㼟㼡㼘㼠㻘㻌㼠㼔㼑㼞㼑㻌㼣㼍㼟㻌㼍㻌㼚㼑㼠㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌\㻟㻘㻜㻥㻜㻌㼙㼕㼘㼘㼕㼛㼚㻌㼕㼚㻌㼏㼍㼟㼔㻌㼍㼚㼐㻌㼞㼍㼠㼑㼟㻘㻌 㻴㻻㻾㻵㻮㻭㻌 㼜㼞㼛㼙㼛㼠㼑㼟㻌 㼘㼛㼏㼍㼘㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌 㼍㼚㼐㻌 㼟㼡㼜㼜㼘㼥㻚㻌 㻴㻻㻾㻵㻮㻭㻌㼏㼍㼟㼔㻌㼑㼝㼡㼕㼢㼍㼘㼑㼚㼠㼟㻌㼠㼛㻌\㻟㻤㻘㻤㻡㻤㻌㼙㼕㼘㼘㼕㼛㼚㻌㼍㼟㻌㼛㼒㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻚㻌㼍㼘㼟㼛㻌㼑㼙㼜㼘㼛㼥㼟㻌㼒㼛㼞㼑㼕㼓㼚㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㼒㼛㼞㼣㼍㼞㼐㻌㼏㼛㼚㼠㼞㼍㼏㼠㼟㻌㼣㼕㼠㼔㼕㼚㻌㼠㼔㼑㻌㼘㼕㼙㼕㼠㼟㻌㻌㼛㼒㻌 㼕㼠㼟㻌 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㻌 㼍㼙㼛㼡㼚㼠㼟㻌 㼛㼒㻌 㼒㼛㼞㼑㼕㼓㼚㻌 㼏㼡㼞㼞㼑㼚㼏㼥㻌 㼐㼑㼚㼛㼙㼕㼚㼍㼠㼑㼐㻌㻰㼕㼢㼕㼐㼑㼚㼐㻌㻼㼛㼘㼕㼏㼥㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟㻌 㼍㼚㼐㻌 㼜㼍㼥㼍㼎㼘㼑㼟㻌 㼠㼛㻌 㼕㼙㼜㼛㼞㼠㻌 㼍㼚㼐㻌 㼑㼤㼜㼛㼞㼠㻌 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻌 㼠㼛㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼎㼍㼟㼕㼏㻌 㼜㼛㼘㼕㼏㼥㻌 㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌 㼐㼕㼢㼕㼐㼑㼚㼐㼟㻌 㼕㼟㻌 㼠㼛㻌 㼙㼍㼕㼚㼠㼍㼕㼚㻌 㼕㼠㼟㻌㼙㼕㼚㼕㼙㼕㼦㼑㻌㼒㼛㼞㼑㼕㼓㼚㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㼞㼕㼟㼗㼟㻚㻌 㻴㼛㼣㼑㼢㼑㼞㻘㻌㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌㼕㼚㻌㼒㼛㼞㼑㼕㼓㼚㻌㼟㼠㼍㼚㼐㼍㼞㼐㻌㼜㼍㼥㼛㼡㼠㻌㼞㼍㼠㼕㼛㻌㼕㼚㻌㼣㼔㼕㼏㼔㻌㼠㼔㼑㻌㼠㼛㼠㼍㼘㻌㼐㼕㼢㼕㼐㼑㼚㼐㻌㼜㼍㼥㼙㼑㼚㼠㻌㼕㼟㻌㼑㼝㼡㼍㼘㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌 㼞㼍㼠㼑㼟㻌 㼏㼛㼡㼘㼐㻌 㼟㼠㼕㼘㼘㻌 㼔㼍㼢㼑㻌 㼍㼚㻌 㼕㼙㼜㼍㼏㼠㻌 㼣㼔㼑㼚㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼠㼛㻌㻟㻜㻑㻌㼛㼒㻌㼠㼔㼑㻌㼚㼛㼚㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼚㼑㼠㻌㼕㼚㼏㼛㼙㼑㻌㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻚㻌㼀㼔㼑㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌 㼜㼞㼑㼜㼍㼞㼑㼐㻌 㼕㼚㻌 㼘㼛㼏㼍㼘㻌 㼏㼡㼞㼞㼑㼚㼏㼕㼑㼟㻌 㼍㼞㼑㻌 㼠㼞㼍㼚㼟㼘㼍㼠㼑㼐㻌 㼕㼚㼠㼛㻌㻯㼛㼙㼜㼍㼚㼥㻌 㼜㼍㼥㼟㻌 㼏㼛㼙㼙㼑㼙㼛㼞㼍㼠㼕㼢㼑㻌 㼐㼕㼢㼕㼐㼑㼚㼐㼟㻌 㼏㼑㼘㼑㼎㼞㼍㼠㼕㼚㼓㻌 㼠㼔㼑㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌 㼥㼑㼚㻌 㼒㼛㼞㻌 㼠㼔㼑㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻘㻌 㼍㼚㼐㻌 㼍㻌㼙㼍㼖㼛㼞㻌 㼏㼔㼍㼚㼓㼑㻌 㼕㼚㻌 㼒㼛㼞㼑㼕㼓㼚㻌 㼑㼤㼏㼔㼍㼚㼓㼑㻌 㼞㼍㼠㼑㼟㻌 㼎㼑㼥㼛㼚㼐㻌 㼛㼡㼞㻌 㼑㼟㼠㼕㼙㼍㼠㼑㼟㻌㼏㼛㼡㼘㼐㻌㼎㼑㻌㼍㼒㼒㼑㼏㼠㼑㼐㻌㼐㼑㼜㼑㼚㼐㼕㼚㼓㻌㼛㼚㻌㼠㼔㼑㻌㼜㼞㼛㼓㼞㼑㼟㼟㻌㼛㼒㻌㼠㼔㼑㻌㼘㼕㼠㼕㼓㼍㼠㼕㼛㼚㻚㻌 㻌㼏㼛㼡㼘㼐㻌㼍㼒㼒㼑㼏㼠㻌㼛㼡㼞㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌㻌㻌㻔㻢㻕㻌㻻㼠㼔㼑㼞㻌㻮㼡㼟㼕㼚㼑㼟㼟㻌㻾㼕㼟㼗㼟㻌㻔㻞㻕㻌 㻯㼔㼍㼚㼓㼑㼟㻌 㼕㼚㻌 㻼㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌 㼛㼞㻌 㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌 㻼㼛㼟㼕㼠㼕㼛㼚㻌 㻭㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㻵㼚㻌 㼍㼐㼐㼕㼠㼕㼛㼚㻌 㼠㼛㻌 㼠㼔㼑㻌 㼍㼎㼛㼢㼑㻙㼙㼑㼚㼠㼕㼛㼚㼑㼐㻌 㼞㼕㼟㼗㼟㻘㻌 㼛㼠㼔㼑㼞㻌 㼞㼕㼟㼗㼟㻌 㼕㼚㼏㼘㼡㼐㼑㻌 㼍㻌㼣㼕㼠㼔㻌㻭㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㼟㻌㼍㼚㼐㻌㻭㼘㼘㼕㼍㼚㼏㼑㼟㻌㼞㼕㼟㼗㻌㼛㼒㻌㼎㼞㼑㼍㼗㼐㼛㼣㼚㻌㼛㼞㻌㼙㼍㼘㼒㼡㼚㼏㼠㼕㼛㼚㻌㼛㼒㻌㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼟㼥㼟㼠㼑㼙㼟㻘㻌㼠㼔㼞㼑㼍㼠㼟㻌㻴㻻㻾㻵㻮㻭㻌 㼔㼍㼟㻌 㼍㼏㼠㼕㼢㼑㼘㼥㻌 㼜㼞㼛㼙㼛㼠㼑㼐㻌 㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌 㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㼟㻌 㼍㼚㼐㻌㼞㼑㼘㼍㼠㼑㼐㻌㼠㼛㻌㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼟㼑㼏㼡㼞㼕㼠㼥㻌㼍㼚㼐㻌㼞㼕㼟㼗㼟㻌㼍㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㼣㼕㼠㼔㻌㼘㼍㼣㼟㻌㼍㼚㼐㻌㼍㼘㼘㼕㼍㼚㼏㼑㼟㻌 㼠㼛㻌 㼑㼚㼔㼍㼚㼏㼑㻌 㼠㼔㼑㻌 㼑㼒㼒㼕㼏㼕㼑㼚㼏㼥㻌 㼍㼚㼐㻌 㼑㼒㼒㼑㼏㼠㼕㼢㼑㼚㼑㼟㼟㻌 㼛㼒㻌 㼕㼠㼟㻌㼞㼑㼓㼡㼘㼍㼠㼕㼛㼚㼟㻌㼕㼙㼜㼛㼟㼑㼐㻌㼛㼚㻌㼎㼡㼟㼕㼚㼑㼟㼟㼑㼟㻚㻌㻴㻻㻾㻵㻮㻭㻌㼕㼟㻌㼠㼍㼗㼕㼚㼓㻌㼜㼞㼑㼢㼑㼚㼠㼕㼢㼑㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼛㼜㼑㼞㼍㼠㼕㼛㼚㼟㻚㻌 㻴㻻㻾㻵㻮㻭㻌 㼏㼛㼚㼐㼡㼏㼠㼟㻌 㼏㼛㼙㼜㼘㼑㼠㼑㻌 㼍㼚㼐㻌 㼐㼕㼘㼕㼓㼑㼚㼠㻌㼙㼑㼍㼟㼡㼞㼑㼟㻌 㼍㼓㼍㼕㼚㼟㼠㻌 㼠㼔㼑㼟㼑㻌 㼞㼕㼟㼗㼟㻌 㼎㼡㼠㻌 㼠㼔㼑㼥㻌 㼏㼛㼡㼘㼐㻌 㼍㼒㼒㼑㼏㼠㻌 㻴㻻㻾㻵㻮㻭䇻㼟㻌㼕㼚㼢㼑㼟㼠㼕㼓㼍㼠㼕㼛㼚㼟㻌㼣㼔㼑㼚㻌㼙㼍㼗㼕㼚㼓㻌㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㼟㻌㼍㼚㼐㻌㼒㼛㼞㼙㼕㼚㼓㻌㼍㼘㼘㼕㼍㼚㼏㼑㼟㻌㼕㼚㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼜㼛㼟㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼞㼑㼟㼡㼘㼠㼟㻚㻌㼛㼞㼐㼑㼞㻌㼠㼛㻌㼍㼢㼛㼕㼐㻌㼍㼚㼥㻌㼚㼑㼓㼍㼠㼕㼢㼑㻌㼕㼙㼜㼍㼏㼠㻌㼛㼚㻌㼑㼍㼞㼚㼕㼚㼓㼟㻌㼍㼚㼐㻌㼏㼍㼟㼔㻌㼒㼘㼛㼣㼟㻚㻌 㻌㻌㻴㼛㼣㼑㼢㼑㼞㻘㻌 㼕㼠㻌 㼕㼟㻌 㼜㼛㼟㼟㼕㼎㼘㼑㻌 㼠㼔㼍㼠㻌 㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌 㼍㼚㼐㻌㻞㻚㻌㻾㼕㼟㼗㼟㻌㻭㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㼣㼕㼠㼔㻌㻰㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌㼍㼚㼐㻌㻼㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌 㼏㼛㼡㼘㼐㻌 㼎㼑㻌 㼍㼒㼒㼑㼏㼠㼑㼐㻌 㼕㼒㻌 㼍㼚㻌 㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻌 㼛㼞㻌㻔㻝㻕㻌㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼒㼛㼞㻌㻼㼞㼛㼐㼡㼏㼠㻌㻸㼕㼍㼎㼕㼘㼕㼠㼥㻌㼍㼘㼘㼕㼍㼚㼏㼑㻌㼐㼕㼐㻌㼚㼛㼠㻌㼜㼞㼛㼏㼑㼑㼐㻌㼕㼚㻌㼍㼏㼏㼛㼞㼐㼍㼚㼏㼑㻌㼣㼕㼠㼔㻌㼕㼚㼕㼠㼕㼍㼘㻌㼜㼘㼍㼚㼟㻚㻌㻴㻻㻾㻵㻮㻭㻌㼏㼛㼚㼐㼡㼏㼠㼟㻌㼛㼜㼠㼕㼙㼡㼙㻌㼝㼡㼍㼘㼕㼠㼥㻌㼏㼛㼚㼠㼞㼛㼘㻌㼒㼛㼞㻌㼕㼠㼟㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌㼍㼚㼐㻌㻌㼟㼑㼞㼢㼕㼏㼑㼟㻌 㼍㼚㼐㻌 㼟㼠㼞㼕㼢㼑㼟㻌 㼠㼛㻌 㼙㼍㼕㼚㼠㼍㼕㼚㻌 㼠㼔㼑㻌 㼔㼕㼓㼔㼑㼟㼠㻌 㼟㼠㼍㼚㼐㼍㼞㼐㼟㻌 㼛㼒㻌㻔㻟㻕㻌 㻾㼑㼜㼍㼕㼞㻌 㼛㼒㻌 㻲㼍㼏㼕㼘㼕㼠㼕㼑㼟㻌 㻲㼛㼘㼘㼛㼣㼕㼚㼓㻌 㻺㼍㼠㼡㼞㼍㼘㻌 㻰㼕㼟㼍㼟㼠㼑㼞㼟㻌 㼍㼚㼐㻌㼞㼑㼘㼕㼍㼎㼕㼘㼕㼠㼥㻚㻌 㻌 㻺㼑㼢㼑㼞㼠㼔㼑㼘㼑㼟㼟㻘㻌㼠㼔㼑㼞㼑㻌㼕㼟㻌㼍㼘㼣㼍㼥㼟㻌㼠㼔㼑㻌㼜㼛㼟㼟㼕㼎㼕㼘㼕㼠㼥㻌㼛㼒㻌㼞㼑㼏㼍㼘㼘㼟㻌㻭㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㻰㼑㼘㼍㼥㼟㻌㼕㼚㻌㻰㼑㼘㼕㼢㼑㼞㼥㻘㻌㼑㼠㼏㻚㻌㼛㼞㻌 㼘㼕㼠㼕㼓㼍㼠㼕㼛㼚㻌 㼍㼞㼕㼟㼕㼚㼓㻌 㼒㼞㼛㼙㻌 㼡㼚㼒㼛㼞㼑㼟㼑㼑㼚㻌 㼐㼑㼒㼑㼏㼠㼟㻚㻌 㻴㻻㻾㻵㻮㻭㻌 㼏㼍㼞㼞㼕㼑㼟㻌㼀㼔㼑㻌㻴㻻㻾㻵㻮㻭㻌㻳㼞㼛㼡㼜㻓㼟㻌㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼕㼚㼓㻌㼎㼍㼟㼑㼟㻌㼍㼞㼑㻌㼘㼛㼏㼍㼠㼑㼐㻌㼕㼚㻌㼐㼕㼢㼑㼞㼟㼑㻌㼕㼚㼟㼡㼞㼍㼚㼏㼑㻌㼒㼛㼞㻌㼜㼞㼛㼐㼡㼏㼠㻌㼘㼕㼍㼎㼕㼘㼕㼠㼥㻘㻌㼎㼡㼠㻌㼠㼔㼑㼞㼑㻌㼏㼍㼚㻌㼎㼑㻌㼚㼛㻌㼓㼡㼍㼞㼍㼚㼠㼑㼑㻌㼠㼔㼍㼠㻌㼍㼞㼑㼍㼟㻘㻌㼕㼚㼏㼘㼡㼐㼕㼚㼓㻌㻶㼍㼜㼍㼚㻌㻔㻷㼥㼛㼠㼛㻘㻌㻿㼔㼕㼓㼍㻌㼍㼚㼐㻌㻷㼡㼙㼍㼙㼛㼠㼛㻌㻼㼞㼑㼒㼑㼏㼠㼡㼞㼑㼟㻕㻘㻌㼠㼔㼕㼟㻌 㼕㼚㼟㼡㼞㼍㼚㼏㼑㻌 㼣㼛㼡㼘㼐㻌 㼏㼛㼢㼑㼞㻌 㼠㼔㼑㻌 㼒㼡㼘㼘㻌 㼍㼙㼛㼡㼚㼠㻌 㼛㼒㻌 㼍㼚㼥㻌 㼡㼚㼒㼛㼞㼑㼟㼑㼑㼚㻌㻱㼡㼞㼛㼜㼑㻌㻔㻲㼞㼍㼚㼏㼑㻘㻌㻳㼑㼞㼙㼍㼚㼥㻌㼍㼚㼐㻌㼠㼔㼑㻌㻯㼦㼑㼏㼔㻌㻾㼑㼜㼡㼎㼘㼕㼏㻕㻘㻌㼠㼔㼑㻌㼁㻚㻿㻚㻌㼍㼚㼐㻌㼐㼍㼙㼍㼓㼑㼟㻚㻌 㻿㼡㼏㼔㻌 㼏㼕㼞㼏㼡㼙㼟㼠㼍㼚㼏㼑㼟㻌 㼏㼛㼡㼘㼐㻌 㼔㼍㼢㼑㻌 㼍㼚㻌 㼍㼒㼒㼑㼏㼠㻌 㼛㼚㻌㻭㼟㼕㼍㻌 㻔㻯㼔㼕㼚㼍㻌 㼍㼚㼐㻌 㻿㼛㼡㼠㼔㻌 㻷㼛㼞㼑㼍㻕㻚㻌 㻴㼛㼣㼑㼢㼑㼞㻘㻌 㼕㼠㻌 㼕㼟㻌 㼜㼛㼟㼟㼕㼎㼘㼑㻌 㼠㼔㼍㼠㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌㼏㼛㼡㼘㼐㻌㼎㼑㻌㻌㼍㼒㼒㼑㼏㼠㼑㼐㻌 㼕㼚㻌 㼠㼔㼑㻌 㼏㼍㼟㼑㻌 㼛㼒㻌 㼍㻌 㼙㼍㼖㼛㼞㻌 㼑㼍㼞㼠㼔㼝㼡㼍㼗㼑㻌 㼛㼞㻌 㼛㼠㼔㼑㼞㻌 㼚㼍㼠㼡㼞㼍㼘㻌㻔㻞㻕㻌㻰㼑㼘㼍㼥㼟㻌㼕㼚㻌㻰㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌㼛㼒㻌㻺㼑㼣㻌㻼㼞㼛㼐㼡㼏㼠㼟㻌㼐㼕㼟㼍㼟㼠㼑㼞㼟㻘㻌 㼍㼟㻌 㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼕㼚㼓㻌 㼒㼍㼏㼕㼘㼕㼠㼕㼑㼟㻌 㼏㼛㼡㼘㼐㻌 㼎㼑㻌㼀㼔㼑㻌㼙㼑㼍㼟㼡㼞㼕㼚㼓㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼕㼚㻌㼣㼔㼕㼏㼔㻌㻴㻻㻾㻵㻮㻭㻌㼛㼜㼑㼞㼍㼠㼑㼟㻌㼐㼍㼙㼍㼓㼑㼐㻌 㼍㼚㼐㻌 㼞㼑㼝㼡㼕㼞㼑㻌 㼑㼤㼜㼑㼚㼟㼕㼢㼑㻌 㼞㼑㼜㼍㼕㼞㼟㻌 㼛㼞㻌 㼍㼚㻌 㼕㼚㼠㼑㼞㼞㼡㼜㼠㼕㼛㼚㻌 㼠㼛㻌㼕㼟㻌 㼑㼤㼠㼞㼑㼙㼑㼘㼥㻌 㼟㼜㼑㼏㼕㼍㼘㼕㼦㼑㼐㻌 㼍㼚㼐㻌 㼞㼑㼝㼡㼕㼞㼑㼟㻌 㼔㼕㼓㼔㻌 㼘㼑㼢㼑㼘㼟㻌 㼛㼒㻌 㼠㼑㼏㼔㼚㼕㼏㼍㼘㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼟㼡㼜㼜㼘㼥㻌 㼏㼔㼍㼕㼚㻌 㼏㼛㼡㼘㼐㻌 㼍㼒㼒㼑㼏㼠㻌 㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼏㼍㼜㼍㼎㼕㼘㼕㼠㼥㻚㻌 㻴㻻㻾㻵㻮㻭㻘㻌 㼠㼔㼑㼞㼑㼒㼛㼞㼑㻘㻌 㼕㼚㼢㼑㼟㼠㼟㻌 㼘㼍㼞㼓㼑㻌 㼟㼡㼙㼟㻌 㼕㼚㻌 㼜㼞㼛㼐㼡㼏㼠㻌㼍㼚㼐㻛㼛㼞㻌㼐㼕㼟㼠㼞㼕㼎㼡㼠㼕㼛㼚㻚㻌 㻌㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻚㻌 㻴㼛㼣㼑㼢㼑㼞㻘㻌 㼕㼠㻌 㼕㼟㻌 㼜㼛㼟㼟㼕㼎㼘㼑㻌 㼠㼔㼍㼠㻌 㼑㼤㼜㼑㼏㼠㼑㼐㻌 㼞㼑㼠㼡㼞㼚㼟㻌 㼛㼒㻌㻌㼠㼔㼕㼟㻌 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌 㼣㼕㼘㼘㻌 㼚㼛㼠㻌 㼎㼑㻌 㼞㼑㼍㼘㼕㼦㼑㼐㻌 㼐㼡㼑㻌 㼠㼛㻌 㼡㼚㼒㼛㼞㼑㼟㼑㼑㼚㻌㻔㻠㻕㻌㻾㼕㼟㼗㼟㻌㻭㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㼣㼕㼠㼔㻌㻯㼛㼚㼠㼞㼍㼏㼠㼟㻌㼍㼚㼐㻌㼀㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻌㼏㼕㼞㼏㼡㼙㼟㼠㼍㼚㼏㼑㼟㻚㻌㻴㻻㻾㻵㻮㻭㻌㼑㼚㼠㼑㼞㼟㻌㼕㼚㼠㼛㻌㼢㼍㼞㼕㼛㼡㼟㻌㼏㼛㼚㼠㼞㼍㼏㼠㼟㻌㼣㼕㼠㼔㻌㼏㼡㼟㼠㼛㼙㼑㼞㼟㻘㻌㼟㼡㼜㼜㼘㼕㼑㼞㼟㻌㻌㼍㼚㼐㻌 㼛㼠㼔㼑㼞㻌 㼟㼠㼍㼗㼑㼔㼛㼘㼐㼑㼞㼟㻌 㼍㼚㼐㻌 㼏㼛㼚㼐㼡㼏㼠㼟㻌 㼕㼠㼟㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟㻌㻔㻟㻕㻌㻾㼕㼟㼗㼟㻌㻯㼛㼚㼏㼑㼞㼚㼕㼚㼓㻌㻵㼚㼠㼑㼘㼘㼑㼏㼠㼡㼍㼘㻌㻼㼞㼛㼜㼑㼞㼠㼥㻌㻾㼕㼓㼔㼠㼟㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼠㼔㼑㼟㼑㻌㼏㼛㼚㼠㼞㼍㼏㼠㼟㻚㻌㻺㼑㼢㼑㼞㼠㼔㼑㼘㼑㼟㼟㻘㻌㼠㼔㼑㼞㼑㻌㼕㼟㻌㼍㻌㼜㼛㼟㼟㼕㼎㼕㼘㼕㼠㼥㻌㼛㼒㻌㻴㻻㻾㻵㻮㻭㻌 㼜㼛㼟㼟㼑㼟㼟㼑㼟㻌 㼍㻌 㼣㼕㼐㼑㻌 㼞㼍㼚㼓㼑㻌 㼛㼒㻌 㼕㼚㼠㼑㼘㼘㼑㼏㼠㼡㼍㼘㻌 㼜㼞㼛㼜㼑㼞㼠㼥㻌 㼞㼕㼓㼔㼠㼟㻌㼏㼘㼍㼕㼙㼟㻌㼒㼛㼞㻌㼐㼍㼙㼍㼓㼑㼟㻌㼍㼞㼕㼟㼕㼚㼓㻌㼒㼞㼛㼙㻌㼐㼕㼒㼒㼑㼞㼑㼚㼠㻌㼢㼕㼑㼣㼟㻌㼛㼒㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌㼛㼞㻌㼞㼑㼘㼍㼠㼑㼐㻌 㼠㼛㻌 㼠㼔㼑㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼕㼠㻌 㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼑㼟㻘㻌 㼕㼚㼏㼘㼡㼐㼕㼚㼓㻌 㼜㼍㼠㼑㼚㼠㼟㻘㻌㼐㼕㼒㼒㼑㼞㼑㼚㼠㻌㼡㼚㼐㼑㼞㼟㼠㼍㼚㼐㼕㼚㼓㼟㻌㼛㼒㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼠㼑㼞㼙㼟㻌㼎㼑㼠㼣㼑㼑㼚㻌㼜㼍㼞㼠㼕㼑㼟㻚㻌㻵㼠㻌㼕㼟㻌㼠㼞㼍㼐㼑㼙㼍㼞㼗㼟㻌 㼍㼚㼐㻌 㼑㼤㼜㼑㼞㼠㼕㼟㼑㻘㻌 㼣㼔㼕㼏㼔㻌 㼓㼕㼢㼑㻌 㼕㼠㻌 㼟㼡㼜㼑㼞㼕㼛㼞㼕㼠㼥㻌 㼕㼚㻌 㼠㼑㼞㼙㼟㻌 㼛㼒㻌㼜㼛㼟㼟㼕㼎㼘㼑㻌㼠㼔㼍㼠㻌㼟㼡㼏㼔㻌㼏㼕㼞㼏㼡㼙㼟㼠㼍㼚㼏㼑㼟㻌㼏㼛㼡㼘㼐㻌㼞㼑㼟㼡㼘㼠㻌㼕㼚㻌㻴㻻㻾㻵㻮㻭㻌㼒㼍㼏㼕㼚㼓㻌㼏㼛㼙㼜㼑㼠㼕㼠㼕㼢㼑㼚㼑㼟㼟㻚㻌 㻴㻻㻾㻵㻮㻭㻌 㼑㼤㼑㼞㼏㼕㼟㼑㼟㻌 㼍㼘㼘㻌 㼜㼛㼟㼟㼕㼎㼘㼑㻌 㼏㼍㼡㼠㼕㼛㼚㻌㼍㻌㼏㼘㼍㼕㼙㻌㼒㼛㼞㻌㼏㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌 㼠㼔㼑㻌 㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌 㼍㼚㼐㻌 㼜㼞㼛㼠㼑㼏㼠㼕㼛㼚㻌 㼛㼒㻌 㼠㼔㼑㼟㼑㻌 㼕㼚㼠㼑㼘㼘㼑㼏㼠㼡㼍㼘㻌㻌㼜㼞㼛㼜㼑㼞㼠㼥㻌㼞㼕㼓㼔㼠㼟㻚㻌㻴㼛㼣㼑㼢㼑㼞㻘㻌㼕㼚㻌㼠㼔㼑㻌㼏㼍㼟㼑㻌㼛㼒㻌㼕㼚㼒㼞㼕㼚㼓㼑㼙㼑㼚㼠㻌㼎㼥㻌㼍㻌㼠㼔㼕㼞㼐㻌㻔㻡㻕㻌㻸㼕㼠㼕㼓㼍㼠㼕㼛㼚㻌㻾㼕㼟㼗㼟㻌㼜㼍㼞㼠㼥㻘㻌 㼕㼠㻌 㼕㼟㻌 㼜㼛㼟㼟㼕㼎㼘㼑㻌 㼠㼔㼍㼠㻌 㻴㻻㻾㻵㻮㻭㻌 㼣㼕㼘㼘㻌 㼎㼑㻌 㼡㼚㼍㼎㼘㼑㻌 㼠㼛㻌 㼍㼠㼠㼍㼕㼚㻌 㼕㼠㼟㻌㻭㼞㼕㼟㼕㼚㼓㻌 㼒㼞㼛㼙㻌 㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼢㼕㼛㼘㼍㼠㼕㼛㼚㻌 㼛㼒㻌 㼠㼔㼑㻌 㻭㼚㼠㼕㼙㼛㼚㼛㼜㼛㼘㼥㻌 㻸㼍㼣㻌 㼕㼚㻌㼑㼤㼜㼑㼏㼠㼑㼐㻌 㼑㼍㼞㼚㼕㼚㼓㼟㻚㻌 㼀㼔㼑㼞㼑㻌 㼕㼟㻌 㼍㼘㼟㼛㻌 㼍㻌 㼜㼛㼟㼟㼕㼎㼕㼘㼕㼠㼥㻌 㼛㼒㻌 㼐㼕㼟㼜㼡㼠㼑㼟㻌 㼛㼢㼑㼞㻌㼜㼍㼟㼠㻌㼎㼕㼐㼐㼕㼚㼓㻘㻌㻴㻻㻾㻵㻮㻭㻌㼔㼍㼟㻌㼞㼑㼏㼑㼕㼢㼑㼐㻌㼏㼘㼍㼕㼙㼟㻌㼒㼛㼞㻌㼐㼍㼙㼍㼓㼑㼟㻌㼒㼞㼛㼙㻌㻟㻢㻌㼕㼚㼠㼑㼘㼘㼑㼏㼠㼡㼍㼘㻌 㼜㼞㼛㼜㼑㼞㼠㼥㻌 㼞㼕㼓㼔㼠㼟㻌 㼣㼕㼠㼔㻌 㼛㼠㼔㼑㼞㻌 㼏㼛㼙㼜㼍㼚㼕㼑㼟㻚㻌 㻌 㻿㼡㼏㼔㻌㼙㼡㼚㼕㼏㼕㼜㼍㼘㻌 㼓㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌 㼍㼓㼑㼚㼏㼕㼑㼟㻌 㼍㼟㻌 㼛㼒㻌 㻰㼑㼏㼑㼙㼎㼑㼞㻌 㻟㻝㻘㻌 㻞㻜㻝㻞㻚㻌㼐㼕㼟㼜㼡㼠㼑㼟㻌㼏㼛㼡㼘㼐㻌㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㼘㼥㻌㼍㼒㼒㼑㼏㼠㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㻴㻻㻾㻵㻮㻭㻌 㼒㼛㼡㼚㼐㻌 㼠㼔㼍㼠㻌 㼏㼑㼞㼠㼍㼕㼚㻌 㼜㼍㼞㼠㼟㻌 㼛㼒㻌 㼠㼔㼑㻌 㼏㼘㼍㼕㼙㼟㻌 㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌 㼠㼔㼑㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌㼟㼏㼛㼜㼑㻌 㼛㼒㻌 㼠㼔㼑㻌 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㻌 㼍㼚㼐㻌 㼏㼍㼘㼏㼡㼘㼍㼠㼕㼛㼚㻌 㼛㼒㻌 㼠㼔㼑㻌 㼐㼍㼙㼍㼓㼑㼟㻌㻌㼍㼙㼛㼡㼚㼠㼟㻌㼣㼑㼞㼑㻌㼡㼚㼍㼏㼏㼑㼜㼠㼍㼎㼘㼑㻌㼍㼚㼐㻌㼔㼍㼟㻌㼐㼑㼏㼕㼐㼑㼐㻌㼠㼛㻌㼍㼟㼗㻌㼒㼛㼞㻌㼖㼡㼐㼕㼏㼕㼍㼘㻌㻔㻠㻕㻌㻾㼕㼟㼗㼟㻌㻭㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㼣㼕㼠㼔㻌㻲㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌㼕㼚㻌㻾㼍㼣㻌㻹㼍㼠㼑㼞㼕㼍㼘㻌㻼㼞㼕㼏㼑㼟㻌㼞㼑㼘㼕㼑㼒㻚㻌 㻺㼑㼢㼑㼞㼠㼔㼑㼘㼑㼟㼟㻘㻌 㻴㻻㻾㻵㻮㻭㻌 㼔㼍㼟㻌 㼟㼑㼠㻌 㼍㼟㼕㼐㼑㻌 㼜㼞㼛㼢㼕㼟㼕㼛㼚㼟㻌 㼒㼛㼞㻌㻴㻻㻾㻵㻮㻭㻌㼠㼍㼗㼑㼟㻌㼕㼚㼠㼛㻌㼍㼏㼏㼛㼡㼚㼠㻌㼠㼔㼑㻌㼞㼕㼟㼗㻌㼛㼒㻌㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌㼕㼚㻌㼜㼡㼞㼏㼔㼍㼟㼕㼚㼓㻌㼜㼛㼟㼟㼕㼎㼘㼑㻌 㼘㼛㼟㼟㼑㼟㻌 㼒㼞㼛㼙㻌 㼘㼕㼠㼕㼓㼍㼠㼕㼛㼚㻘㻌 㼍㼚㼐㻌 㼕㼠㻌 㼕㼟㻌 㼜㼛㼟㼟㼕㼎㼘㼑㻌 㼠㼔㼍㼠㻌 㼠㼔㼑㻌㼜㼞㼕㼏㼑㼟㻌㼍㼚㼐㻌㼙㼍㼗㼑㼟㻌㼍㼞㼞㼍㼚㼓㼑㼙㼑㼚㼠㼟㻌㼟㼡㼏㼔㻌㼍㼟㻌㼍㼐㼢㼍㼚㼏㼑㻌㼜㼡㼞㼏㼔㼍㼟㼕㼚㼓㻌㼠㼛㻌㻴㻻㻾㻵㻮㻭㻌㻳㼞㼛㼡㼜䇻㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌㼙㼍㼚㼍㼓㼑㻌㼠㼔㼕㼟㻌㼞㼕㼟㼗㻌㼣㼔㼑㼚㻌㼕㼠㻌㼕㼟㻌㼐㼑㼑㼙㼑㼐㻌㼚㼑㼏㼑㼟㼟㼍㼞㼥㻚㻌㻴㼛㼣㼑㼢㼑㼞㻘㻌㼕㼠㻌㼙㼍㼥㻌
Annual Report 2012 | 48

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Consolidated Financial Review㼞㼑㼝㼡㼕㼞㼑㻌 㼟㼛㼙㼑㻌 㼠㼕㼙㼑㻌 㼒㼛㼞㻌 㼍㼚㻌 㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼕㼚㻌 㼜㼡㼞㼏㼔㼍㼟㼕㼚㼓㻌 㼜㼞㼕㼏㼑㼟㻌 㼠㼛㻌 㼎㼑㻌㼕㼚㻌 㼠㼔㼑㻌 㼍㼡㼠㼛㼙㼍㼠㼕㼛㼚㻌 㼛㼒㻌 㼍㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌 㼠㼑㼟㼠㻌 㼟㼥㼟㼠㼑㼙㼟㻌 㼏㼛㼡㼘㼐㻌 㼔㼍㼢㼑㻌 㼍㻌㼜㼍㼟㼟㼑㼐㻌 㼛㼚㻌 㼍㼚㼐㻌 㼞㼑㼒㼘㼑㼏㼠㼑㼐㻌 㼕㼚㻌 㼟㼑㼘㼘㼕㼚㼓㻌 㼜㼞㼕㼏㼑㼟㻚㻌 㻿㼡㼏㼔㻌 㼏㼕㼞㼏㼡㼙㼟㼠㼍㼚㼏㼑㼟㻌㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㻌㼕㼙㼜㼍㼏㼠㻌㼛㼚㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼏㼛㼡㼘㼐㻌 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㼘㼥㻌 㼍㼒㼒㼑㼏㼠㻌 㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌 㼍㼚㼐㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌 㻌 㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌㻌㻌㻔㻞㻕㻌㻼㼞㼛㼏㼑㼟㼟㻌㻒㻌㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻌㻟㻚㻌㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌㻾㼕㼟㼗㼟㻌㻰㼑㼙㼍㼚㼐㻌 㼒㼛㼞㻌 㼑㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻙㼞㼑㼘㼍㼠㼑㼐㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼟㼡㼏㼔㻌 㼍㼟㻌 㼍㼚㼍㼘㼥㼦㼑㼞㼟㻌㻔㻝㻕㻌㻿㼔㼕㼒㼠㼟㻌㼕㼚㻌㼠㼔㼑㻌㻹㼍㼞㼗㼑㼠㻌㻼㼞㼕㼏㼑㻌㼛㼒㻌㻿㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㻻㼠㼔㼑㼞㻌㻭㼟㼟㼑㼠㼟㻌㼒㼛㼞㻌㼍㼕㼞㻌㼜㼛㼘㼘㼡㼠㼕㼛㼚㻌㼍㼚㼐㻌㼣㼍㼠㼑㼞㻌㼝㼡㼍㼘㼕㼠㼥㻌㼙㼍㼥㻌㼎㼑㻌㼍㼒㼒㼑㼏㼠㼑㼐㻌㼎㼥㻌㼏㼔㼍㼚㼓㼑㼟㻌㼕㼚㻌㻴㻻㻾㻵㻮㻭㻌 㼔㼛㼘㼐㼟㻌 㼟㼔㼍㼞㼑㼟㻌 㼕㼚㻌 㼕㼠㼟㻌 㼙㼍㼖㼛㼞㻌 㼍㼘㼘㼕㼍㼚㼏㼑㻌 㼜㼍㼞㼠㼚㼑㼞㼟㻌 㼍㼚㼐㻌 㼛㼠㼔㼑㼞㻌㼑㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌 㼞㼑㼓㼡㼘㼍㼠㼕㼛㼚㼟㻚㻌 㻯㼔㼍㼚㼓㼑㼟㻌 㼕㼚㻌 㼠㼔㼑㻌 㼐㼑㼙㼍㼚㼐㻌 㼒㼛㼞㻌 㼠㼔㼑㼟㼑㻌㼏㼛㼙㼜㼍㼚㼕㼑㼟㻌㼍㼟㻌㼜㼍㼞㼠㻌㼛㼒㻌㼕㼠㼟㻌㼠㼑㼏㼔㼚㼛㼘㼛㼓㼥㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼟㼠㼞㼍㼠㼑㼓㼕㼑㼟㻌㼒㼛㼞㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼏㼛㼡㼘㼐㻌 㼔㼍㼢㼑㻌 㼍㻌 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㻌 㼕㼙㼜㼍㼏㼠㻌 㼛㼚㻌 㻴㻻㻾㻵㻮㻭㻌 㻳㼞㼛㼡㼜䇻㼟㻌㼠㼔㼑㻌 㼒㼡㼠㼡㼞㼑㻚㻌 㻴㻻㻾㻵㻮㻭 䇻 㼟㻌 㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㼟㻌 㼍㼚㼐㻌 㼟㼍㼘㼑㼟㻌 㼛㼒㻌 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌 㼍㼞㼑㻌 㼏㼍㼞㼑㼒㼡㼘㼘㼥㻌 㼕㼚㼟㼜㼑㼏㼠㼑㼐㻌 㼎㼥㻌 㼠㼔㼑㻌 㻮㼛㼍㼞㼐㻌 㼛㼒㻌 㻰㼕㼞㼑㼏㼠㼛㼞㼟㻚㻌㻌㻹㼍㼞㼗㼑㼠㻌㼜㼞㼕㼏㼑㼟㻌㼛㼒㻌㼠㼔㼑㻌㼟㼔㼍㼞㼑㼟㻌㼍㼞㼑㻌㼞㼑㼜㼛㼞㼠㼑㼐㻌㼠㼛㻌㼠㼛㼜㻌㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌㼛㼚㻌㼍㻌㻔㻟㻕㻌㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻌㼠㼕㼙㼑㼘㼥㻌 㼎㼍㼟㼕㼟㻘㻌 㼍㼚㼐㻌 㼠㼔㼑㻌 㼜㼡㼞㼜㼛㼟㼑㻌 㼒㼛㼞㻌 㼔㼛㼘㼐㼕㼚㼓㻌 㼠㼔㼑㻌 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼀㼔㼑㻌 㼙㼍㼕㼚㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼕㼚㻌 㼠㼔㼑㻌 㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻒㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼕㼟㻌㼜㼞㼛㼜㼑㼞㼘㼥㻌㼞㼑㼢㼕㼑㼣㼑㼐㻚㻌㻵㼒㻌㼐㼑㼏㼘㼕㼚㼑㼟㻌㼕㼚㻌㼠㼔㼑㻌㼙㼍㼞㼗㼑㼠㻌㼜㼞㼕㼏㼑㻌㼛㼞㻌㻿㼥㼟㼠㼑㼙㼟㻌 㼟㼑㼓㼙㼑㼚㼠㻌 㼍㼞㼑㻌 㼔㼑㼙㼍㼠㼛㼘㼛㼓㼥㻌 㼍㼚㼍㼘㼥㼦㼑㼞㼟㻘㻌 㼣㼔㼕㼏㼔㻌 㼍㼞㼑㻌 㼟㼙㼍㼘㼘㻙㻌㼜㼞㼛㼒㼕㼠㼍㼎㼕㼘㼕㼠㼥㻌 㼛㼒㻌 㼘㼍㼚㼐㻘㻌 㼎㼡㼕㼘㼐㼕㼚㼓㼟㻌 㼛㼞㻌 㼛㼠㼔㼑㼞㻌 㼍㼟㼟㼑㼠㼟㻌 㼛㼏㼏㼡㼞㼞㼑㼐㻌 㼕㼚㻌 㼠㼔㼑㻌㼍㼚㼐㻌㼙㼑㼐㼕㼡㼙㻙㼟㼕㼦㼑㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌㼡㼟㼑㼐㻌㼎㼥㻌㼟㼙㼍㼘㼘㻙㻌㼍㼚㼐㻌㼙㼑㼐㼕㼡㼙㻙㼟㼕㼦㼑㼐㻌㼒㼡㼠㼡㼞㼑㻘㻌㼠㼔㼑㼞㼑㻌㼏㼛㼡㼘㼐㻌㼎㼑㻌㼍㻌㼚㼑㼓㼍㼠㼕㼢㼑㻌㼕㼙㼜㼍㼏㼠㻌㼛㼚㻌㼠㼔㼑㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼔㼛㼟㼜㼕㼠㼍㼘㼟㻌 㼍㼚㼐㻌 㼙㼑㼐㼕㼏㼍㼘㻌 㼜㼞㼍㼏㼠㼕㼠㼕㼛㼚㼑㼞㼟㻘㻌 㼠㼔㼑㻌 㼠㼍㼞㼓㼑㼠㻌 㼙㼍㼞㼗㼑㼠㻚㻌 㻼㼞㼕㼏㼑㻌㼍㼚㼐㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌 㼛㼒㻌 㻴㻻㻾㻵㻮㻭㻌 㼞㼑㼒㼘㼑㼏㼠㼑㼐㻌 㼎㼥㻌 㼠㼔㼑㻌㼏㼛㼙㼜㼑㼠㼕㼠㼕㼛㼚㻌㼒㼛㼞㻌㼠㼔㼑㼟㼑㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌㼠㼔㼍㼠㻌㼕㼟㻌㼎㼑㼥㼛㼚㼐㻌㼛㼡㼞㻌㼑㼤㼜㼑㼏㼠㼍㼠㼕㼛㼚㼟㻌㼍㼜㼜㼘㼕㼏㼍㼠㼕㼛㼚㻌㼛㼒㻌㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻚㻌㼏㼛㼡㼘㼐㻌㼔㼍㼢㼑㻌㼍㻌㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㻌㼕㼙㼜㼍㼏㼠㻌㼛㼚㻌㻴㻻㻾㻵㻮㻭䇻㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌㻔㻞㻕㻌㻾㼑㼢㼑㼞㼟㼍㼘㻌㼛㼒㻌㻰㼑㼒㼑㼞㼞㼑㼐㻌㼀㼍㼤㻌㻭㼟㼟㼑㼠㼟㻌㻾㼑㼟㼡㼘㼠㼕㼚㼓㻌㻲㼞㼛㼙㻌㻯㼔㼍㼚㼓㼑㼟㻌㼕㼚㻌㻌㻿㼥㼟㼠㼑㼙㼟㻌㼛㼞㻌㻭㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㻼㼛㼘㼕㼏㼕㼑㼟㻌㻔㻠㻕㻌㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻌㻵㼠㻌㼕㼟㻌㼜㼛㼟㼟㼕㼎㼘㼑㻌㼠㼔㼍㼠㻌㼏㼔㼍㼚㼓㼑㼟㻌㼕㼚㻌㼟㼥㼟㼠㼑㼙㼟㻌㼛㼞㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼜㼛㼘㼕㼏㼕㼑㼟㻌㻔㼑㻚㼓㻚㻘㻌㼀㼔㼑㻌㼙㼍㼕㼚㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌㼕㼚㻌㼠㼔㼕㼟㻌㼟㼑㼓㼙㼑㼚㼠㻌㼍㼞㼑㻌㼒㼘㼡㼕㼐㻌㼏㼛㼚㼠㼞㼛㼘㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌㼒㼛㼞㻌㼞㼑㼐㼡㼏㼠㼕㼛㼚㼟㻌 㼕㼚㻌 㼠㼍㼤㻌 㼞㼍㼠㼑㼟㻕㻌 㼏㼛㼡㼘㼐㻌 㼞㼑㼝㼡㼕㼞㼑㻌 㻴㻻㻾㻵㻮㻭㻌 㼠㼛㻌 㼞㼑㼢㼑㼞㼟㼑㻌 㼕㼠㼟㻌㼟㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌 㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼕㼚㼓㻌 㼜㼞㼛㼏㼑㼟㼟㼑㼟㻌 㼍㼚㼐㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼠㼔㼍㼠㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻌㼍㼠㻌㼠㼔㼑㻌㼑㼚㼐㻌㼛㼒㻌㼠㼔㼑㻌㼒㼕㼟㼏㼍㼘㻌㼥㼑㼍㼞㻚㻌 㻌㼟㼡㼜㼜㼛㼞㼠㻌㻾㻒㻰㻌㼍㼚㼐㻌㼝㼡㼍㼘㼕㼠㼥㻌㼠㼑㼟㼠㼕㼚㼓㻌㼎㼥㻌㼟㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼑㼞㼟㻚㻌㻌㼀㼛㻌㼙㼕㼚㼕㼙㼕㼦㼑㻌㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌㼕㼚㻌㼠㼔㼑㻌㼟㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㼙㼍㼞㼗㼑㼠㻘㻌㻴㻻㻾㻵㻮㻭㻌㻌㼙㼍㼗㼑㼟㻌㼑㼒㼒㼛㼞㼠㼟㻌㼠㼛㻌㼟㼔㼛㼞㼠㼑㼚㻌㼠㼔㼑㻌㼘㼑㼍㼐㻌㼠㼕㼙㼑㻌㼒㼛㼞㻌㼠㼔㼑㼟㼑㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌㼍㼚㼐㻌㻠㻚㻌㻾㼕㼟㼗㼟㻌㼎㼥㻌㻮㼡㼟㼕㼚㼑㼟㼟㻌㻿㼑㼓㼙㼑㼚㼠㻌㼝㼡㼕㼏㼗㼘㼥㻌 㼞㼑㼟㼜㼛㼚㼐㻌 㼠㼛㻌 㼏㼡㼟㼠㼛㼙㼑㼞㼟䇻㻌 㼚㼑㼑㼐㼟㻚㻌 㻌 㻺㼑㼢㼑㼞㼠㼔㼑㼘㼑㼟㼟㻘㻌 㼟㼔㼍㼞㼜㻌㻴㻻㻾㻵㻮㻭㻌 㼛㼜㼑㼞㼍㼠㼑㼟㻌 㼕㼚㻌 㼒㼕㼢㼑㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼟㼑㼓㼙㼑㼚㼠㼟㻦㻌 㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌 㼀㼑㼟㼠㻌㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌 㼕㼚㻌 㼠㼔㼑㻌 㼐㼑㼙㼍㼚㼐㻌 㼒㼛㼞㻌 㼟㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㼟㻌 㼍㼚㼐㻌 㼠㼔㼑㻌㻿㼥㼟㼠㼑㼙㼟㻘㻌 㻼㼞㼛㼏㼑㼟㼟㻌 㻒㻌 㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻒㻌 㻿㼥㼟㼠㼑㼙㼟㻘㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌 㼛㼒㻌 㼟㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌 㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼑㼞㼟㻌 㼏㼛㼡㼘㼐㻌 㼍㼒㼒㼑㼏㼠㻌 㼠㼔㼑㻌㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻒㻌 㻿㼥㼟㼠㼑㼙㼟㻘㻌 㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌㼛㼒㻌㻴㻻㻾㻵㻮㻭㻚㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻒㻌 㻿㼥㼟㼠㼑㼙㼟㻌 㼍㼚㼐㻌 㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㻒㻌 㻿㼥㼟㼠㼑㼙㼟㻚㻌㻌㻴㻻㻾㻵㻮㻭㻌 㼏㼍㼚㻌 㼍㼏㼔㼕㼑㼢㼑㻌 㼎㼍㼘㼍㼚㼏㼑㼐㻌 㼓㼞㼛㼣㼠㼔㻌 㼎㼥㻌 㼛㼢㼑㼞㼏㼛㼙㼕㼚㼓㻌 㼑㼍㼏㼔㻌㻔㻡㻕㻌㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻌㼟㼑㼓㼙㼑㼚㼠䇻㼟㻌 㼣㼑㼍㼗㼚㼑㼟㼟㻌 㼣㼕㼠㼔㻌 㼏㼛㼙㼜㼘㼑㼙㼑㼚㼠㼍㼞㼥㻌 㼟㼠㼞㼑㼚㼓㼠㼔㼟㻌 㼍㼙㼛㼚㼓㻌 㼍㼘㼘㻌㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌 㼍㼚㼍㼘㼥㼟㼕㼟㻌 㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㼍㼞㼑㻌 㼠㼔㼑㻌 㼙㼍㼕㼚㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼛㼒㻌 㼠㼔㼑㻌㼠㼔㼑㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼟㼑㼓㼙㼑㼚㼠㼟㻚㻌 㻺㼑㼢㼑㼞㼠㼔㼑㼘㼑㼟㼟㻘㻌 㼑㼍㼏㼔㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌 㼟㼑㼓㼙㼑㼚㼠㻌㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻌㼟㼑㼓㼙㼑㼚㼠㻌㼍㼚㼐㻌㼍㼞㼑㻌㼡㼟㼑㼐㻌㼒㼛㼞㻌㻾㻒㻰㻌㼏㼍㼞㼞㼕㼑㼟㻌 㼞㼕㼟㼗㼟㻌 㼍㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌 㼣㼕㼠㼔㻌 㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼟㻌 㼕㼚㻌 㼕㼠㼟㻌 㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㻌㼍㼚㼐㻌㼜㼞㼛㼐㼡㼏㼠㻌㼝㼡㼍㼘㼕㼠㼥㻌㼠㼑㼟㼠㼕㼚㼓㻚㻌㼀㼔㼑㼞㼑㻌㼕㼟㻌㼍㻌㼞㼕㼟㼗㻌㼠㼔㼍㼠㻌㼠㼔㼑㻌㼐㼑㼙㼍㼚㼐㻌㼒㼛㼞㻌㼛㼜㼑㼞㼍㼠㼕㼛㼚㼟㻚㻌㼠㼔㼑㼟㼑㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼏㼛㼡㼘㼐㻌 㼎㼑㻌 㼍㼒㼒㼑㼏㼠㼑㼐㻌 㼎㼥㻌 㼠㼔㼑㻌 㻾㻒㻰㻌 㼎㼡㼐㼓㼑㼠㼟㻌 㼛㼒㻌㻌㼓㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㼍㼓㼑㼚㼏㼕㼑㼟㻌㼍㼚㼐㻌㼠㼔㼑㻌㻾㻒㻰㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼍㼚㼐㻌㼜㼞㼛㼐㼡㼏㼠㼕㼛㼚㻌㼛㼒㻌㻔㻝㻕㻌㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㼀㼑㼟㼠㻌㻿㼥㼟㼠㼑㼙㼟㻌㼜㼞㼕㼢㼍㼠㼑㻌 㼑㼚㼠㼑㼞㼜㼞㼕㼟㼑㼟㻌 㼍㼚㼐㻌 㼔㼍㼢㼑㻌 㼍㻌 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㻌 㼕㼙㼜㼍㼏㼠㻌 㼛㼚㻌 㻴㻻㻾㻵㻮㻭㻌㻱㼙㼕㼟㼟㼕㼛㼚㻌 㼙㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠㻌 㼟㼥㼟㼠㼑㼙㼟㻘㻌 㼠㼔㼑㻌 㼙㼍㼕㼚㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼛㼒㻌 㼠㼔㼑㻌㻳㼞㼛㼡㼜䇻㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌 㼀㼑㼟㼠㻌 㻿㼥㼟㼠㼑㼙㼟㻌 㼟㼑㼓㼙㼑㼚㼠㻘㻌 㼍㼞㼑㻌 㼡㼟㼑㼐㻌 㼎㼥㻌 㼍㼡㼠㼛㼙㼛㼎㼕㼘㼑㻌㻌㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼑㼞㼟㻘㻌 㼍㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌 㼏㼛㼙㼜㼛㼚㼑㼚㼠㻌 㼙㼍㼚㼡㼒㼍㼏㼠㼡㼞㼑㼞㼟㻌 㼍㼚㼐㻌㻌㼓㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌 㼍㼓㼑㼚㼏㼕㼑㼟㻚㻌 㼀㼔㼑㻌 㼟㼑㼠㼠㼕㼚㼓㻌 㼛㼒㻌 㼘㼑㼓㼍㼘㻌 㼘㼕㼙㼕㼠㼟㻌 㼛㼚㻌 㼑㼤㼔㼍㼡㼟㼠㻌㼑㼙㼕㼟㼟㼕㼛㼚㼟㻌㼍㼒㼒㼑㼏㼠㼟㻌㼠㼔㼑㻌㼐㼑㼙㼍㼚㼐㻌㼒㼛㼞㻌㼠㼔㼑㼟㼑㻌㼙㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠㻌㼟㼥㼟㼠㼑㼙㼟㻚㻌㻵㼠㻌㼕㼟㻌 㼜㼛㼟㼟㼕㼎㼘㼑㻘㻌 㼠㼔㼑㼞㼑㼒㼛㼞㼑㻘㻌 㼠㼔㼍㼠㻌 㼠㼔㼑㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌 㼍㼚㼐㻌 㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌 㼛㼒㻌 㻴㻻㻾㻵㻮㻭㻌 㼣㼕㼘㼘㻌 㼎㼑㻌 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㼘㼥㻌 㼍㼒㼒㼑㼏㼠㼑㼐㻌 㼎㼥㻌 㼒㼡㼠㼡㼞㼑㻌㼞㼑㼓㼡㼘㼍㼠㼕㼛㼚㼟㻚㻌 㻌 㻲㼡㼞㼠㼔㼑㼞㼙㼛㼞㼑㻘㻌㼏㼍㼜㼕㼠㼍㼘㻌㼑㼤㼜㼑㼚㼐㼕㼠㼡㼞㼑㼟㻌㼞㼑㼘㼍㼠㼑㼐㻌㼠㼛㻌㼟㼔㼕㼒㼠㼟㻌49

Consolidated Balance Sheets
Consolidated Balance Sheets
HORIBA, Ltd. and Consolidated Subsidiaries
For the years ended December 31, 2011 and December 31, 2012ASSETS
Current assets:
Cash and cash equivalents......................................................................................................................................
Trade notes and accounts receivable (Note 7)
Affiliated companies.....................................................................................................................................
Other...................................................................................................................................................................
Allowance for doubtful receivables......................................................................................................................
Marketable securities (Note 5)..............................................................................................................................
Inventories (Note 6)....................................................................................................................................................
Deferred tax assets (Note 15)...............................................................................................................................
Other current assets.................................................................................................................................................
Total current assets.....................................................................................................................................
Property, plant and equipment:
Land...................................................................................................................................................................................
Buildings and structures...........................................................................................................................................
Machinery, equipment and vehicles.....................................................................................................................
Construction in progress..........................................................................................................................................
Other property, plant and equipment..................................................................................................................
Total....................................................................................................................................................................
Accumulated depreciation.......................................................................................................................................
Net property, plant and equipment........................................................................................................
Investments and other noncurrent assets:
Investment securities (Note 5)..............................................................................................................................
Investments in nonconsolidated subsidiaries and affiliates.......................................................................
Deferred tax assets (Note 15)...............................................................................................................................
Allowance for doubtful accounts...........................................................................................................................
Other investments and other assets..................................................................................................................
Total....................................................................................................................................................................
Intangibles:
Goodwill............................................................................................................................................................................
Software..........................................................................................................................................................................
Other intangibles..........................................................................................................................................................
Total....................................................................................................................................................................
Total assets................................................................................................................................................................................

Millions of yen
12/2011
12/2012

Thousands of
U.S. dollars(Note 1)
12/2012¥35,767¥38,858$448,810

126
39,249(750)
1,100
26,2883,201
3,272
108,255

4
37,516(856)
1,501
28,101
2,881
3,980
111,98846
433,310(9,886)
17,336
324,566
33,27545,9691,293,462

7,362
19,443
11,8562,130
12,38853,181(30,256)
22,924

8,172
24,21012,807
1,851
13,38660,428(32,249)
28,17994,386279,625
147,920
21,379154,608
697,944(372,476)
325,467

3,423
90
2,115
(40)
3,240
8,829

3,977
67
2,030
(74)
3,176
9,178

45,934773
23,446(854)
36,682106,006

201
4,182
256
4,640
¥144,649

319
3,488
681
4,490
¥153,836

3,684
40,286
7,865
51,859$1,776,807¥6,152660¥4,3001,388$49,665
16,031

0
13,196
7,805
2,459
18
755
84
1,308
174
5,956
38,574

11,829
9,195
1,317
6
902
38
1,176
7,504
37,662

136,625
106,202
15,211
69
10,418438
13,582
86,671
434,996

11,544
108
1,775
221
616
1,348
54,18912,394
153
2,066
195
457
1,370
54,299143,150
1,767
23,862
2,252
5,278
15,823627,154

12,011

12,011

138,727

18,717
66,278(788)
96,21918,71771,725(780)
101,674

216,181
828,424(9,009)1,174,335

717(6,703)(5,986)186
40
90,460¥144,649

987(3,413)(2,426)245
42
99,536¥153,836

11,399(39,420)(28,020)
2,829
485
1,149,641$1,776,807

LIABILITIES AND NET ASSETS
Current liabilities:
Short-term loans (Note 8).......................................................................................................................................
Current portion of long-term debt (Note 8).....................................................................................................
Trade notes and accounts payable:
Affiliated companies.....................................................................................................................................
Other...................................................................................................................................................................
Accounts payable - other........................................................................................................................................
Accrued income taxes...............................................................................................................................................
Deferred tax liabilities (Note 15)...........................................................................................................................
Accrued bonuses to employees............................................................................................................................
Accrued bonuses to directors and corporate auditors...............................................................................
Reserve for product warranty................................................................................................................................
Provision for business structure improvement...............................................................................................
Other current liabilities.............................................................................................................................................
Total current liabilities................................................................................................................................
Long-term debt (Note 8) .....................................................................................................................................................
Deferred tax liabilities (Note 15)........................................................................................................................................
Employees' retirement benefits (Note 9).......................................................................................................................
Directors' and corporate auditors' retirement benefits...........................................................................................
Provision for compensation losses...................................................................................................................................
Other noncurrent liabilities...................................................................................................................................................
Total liabilities.................................................................................................................................................
Contingent liabilities (Note 13)
Net assets (Note 10):
Shareholders' equity:
Common stock..............................................................................................................................................................
Authorized - 100,000,000 shares
Issued and outstanding - 42,294,669 shares (excluding treasury stock) at 12/2011
Issued and outstanding - 42,297,169 shares (excluding treasury stock) at 12/2012
Capital surplus..............................................................................................................................................................
Retained earnings........................................................................................................................................................
Treasury stock - 238,083 shares at 12/2011 and 235,583 shares at 12/2012................................
Total shareholders' equity.........................................................................................................................
Accumulated other comprehensive income:Unrealized gains (losses) on available-for-sale securities.........................................................................
Foreign currency translation adjustments........................................................................................................
Total accumulated other comprehensive income............................................................................
Subscription rights to shares..............................................................................................................................................
Minority interests in consolidated subsidiaries............................................................................................................
Total net assets.............................................................................................................................................
Total liabilities and net assets............................................................................................................................................
See the notes to the consolidated financial statements.

Annual Report 2012 | 50

FINANCIAL DATA

Consolidated Statements of Income
Consolidated Statements of Income
Thousands of
U.S. dollars(Note 1)
12/2012HORIBA, Ltd. and Consolidated Subsidiaries
For the years ended December 31, 2011 and December 31, 2012

Millions of yen
12/2011
12/2012Net sales (Note 21).......................................................................................................................................................................

¥123,456¥117,609$1,358,385

Operating costs and expenses (Note 21):
Cost of sales........................................................................................................................................................................
Selling, general and administrative expenses.........................................................................................................
Total operating costs and expenses............................................................................................................

70,25938,290108,549

68,22037,637
105,857

787,941434,707
1,222,649

Operating income (Note 21).......................................................................................................................................................

14,906

11,751

135,724

Other income (expenses):
Interest and dividend income........................................................................................................................................
Interest expense.................................................................................................................................................................
Foreign exchange gains (losses), net.........................................................................................................................
Gain on sale of property, plant and equipment.....................................................................................................
Loss on sale of property, plant and equipment.....................................................................................................
Loss on disposal of property, plant and equipment.............................................................................................
Loss on impairment of fixed assets (Note 16)......................................................................................................
Loss on valuation of investment securities (Note 5)..........................................................................................
Reversal of provision for loss on guarantees.........................................................................................................
Provision for compensation losses.............................................................................................................................
Reversal of provision for compensation losses.....................................................................................................
Provision for business structure improvement.....................................................................................................
Other, net..............................................................................................................................................................................
Total other expenses, net................................................................................................................................

190
(494)
(283)
10
(4)
(48)
(98)
(370)
67
(214)
(267)
255
(1,259)

312
(478)
(206)
31
(0)
(143)
(135)
(2)
67
(26)
(581)

3,603
(5,520)(2,379)358(0)(1,651)(1,559)
(23)
773
(300)
(6,710)

Income before income taxes and minority interests.......................................................................................................

13,647

11,170129,013

Income taxes (Note 15):
Current...................................................................................................................................................................................
Deferred.................................................................................................................................................................................
Total income taxes..............................................................................................................................................

5,187
(204)
4,982

3,236
538
3,774

37,375
6,213
43,589

Income before minority interests............................................................................................................................................

8,664

7,395

85,412

Minority interests in earnings (losses) of consolidated subsidiaries........................................................................

(0)

(0)

(0)

Net income ......................................................................................................................................................................................

¥8,664¥7,396$85,423

Yen
12/2011Per share information:
Net income - basic...........................................................................................................................................................
Net income - diluted........................................................................................................................................................
Cash dividends....................................................................................................................................................................

¥204.88204.41
40.00

12/2012

U.S. dollars(Note 1)
12/2012¥174.87
174.37
50.00

$2.01
2.01
0.57

Millions of yen
12/2011
12/2012¥8,664¥7,395

Thousands of
U.S. dollars(Note 1)
12/2012$85,412

Consolidated Statements of Comprehensive Income
HORIBA, Ltd. and Consolidated Subsidiaries
For the years ended December 31, 2011 and December 31, 2012

Income before minority interests
Other comprehensive income (Note 20)
Unrealized gains (losses) on available-for-sale securities...............................................................................
Foreign currency translation adjustments...............................................................................................................
Share of other comprehensive income of affiliates accounted for using equity method....................
Total other comprehensive income............................................................................................................................
Comprehensive income
Total comprehensive income attributable to
Owners of the parent.......................................................................................................................................................
Minority interests...............................................................................................................................................................
See the notes to the consolidated financial statements.

51

(179)
(1,434)(0)(1,613)
7,050

270
3,297
(2)
3,565
¥10,960

3,118
38,080(23)
41,175$126,588

7,051
(0)

¥10,956
4$126,541
46

Consolidated Statements of Changes in Net Assets
Consolidated Statements of Changes in Net Assets
HORIBA, Ltd. and Consolidated Subsidiaries
For the years ended December 31, 2011 and December 31, 2012

Millions of yen
12/2011
12/2012

Thousands of
U.S. dollars(Note 1)
12/2012

Shareholders' equity
Common stock
Balance at beginning of current fiscal year...............................................................................................................
Balance at end of current fiscal year...........................................................................................................................

¥12,011¥12,011¥12,011¥12,011$138,727$138,727

Capital surplus
Balance at end of previous fiscal year.........................................................................................................................
Balance at end of current fiscal year...........................................................................................................................

¥18,717¥18,717¥18,717¥18,717$216,181$216,181¥58,468¥66,278$765,511

(845)
8,664
(8)
7,810
¥66,278(1,945)
7,396
(3)
5,446
¥71,725(22,464)
85,423(34)
62,901$828,424(¥804)(¥788)($9,101)(0)
16
16(¥788)

88(¥780)

92
92($9,009)¥88,392¥96,219$1,111,330

(845)
8,664
(0)
7
7,826
¥96,219(1,945)
7,396
4
5,455
¥101,674(22,464)
85,42346
63,005$1,174,335

¥897

¥717

$8,281

(179)
(179)
¥717

270
270
¥987

3,118
3,118
$11,399(¥5,269)(¥6,703)($77,419)(1,434)(1,434)(¥6,703)

3,289
3,289
(¥3,413)37,98737,987($39,420)(¥4,372)(¥5,986)($69,138)(1,613)(1,613)(¥5,986)

3,560
3,560
(¥2,426)

41,118
41,118($28,020)

¥126

¥186

$2,148

60
60
¥186

58
58
¥245

669
669
$2,829

¥9

¥40

$462

31
31
¥40

2
2
¥42

23
23
$485

¥84,155¥90,460$1,044,814

(845)
8,664
(0)
7
(1,521)¥6,305¥90,460(1,945)
7,396
4
3,621
¥9,076¥99,536(22,464)
85,423
46
41,822$104,827$1,149,641

Retained earnings
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Cash dividends.........................................................................................................................................................
Net income.................................................................................................................................................................
Disposal of treasury stock..................................................................................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
Treasury stock
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Purchase of treasury stock................................................................................................................................
Disposal of treasury stock..................................................................................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
Shareholders' equity, total
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Cash dividends.........................................................................................................................................................
Net income.................................................................................................................................................................
Purchase of treasury stock................................................................................................................................
Disposal of treasury stock..................................................................................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
Accumulated other comprehensive income
Unrealized gains (losses) on available-for-sale securities
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Net changes in items other than shareholders' equity............................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
Foreign currency translation adjustments
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Net changes in items other than shareholders' equity............................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
Accumulated other comprehensive income, total
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Net changes in items other than shareholders' equity............................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
Subscription rights to shares
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Net changes in items other than shareholders' equity............................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
Minority interests in consolidated subsidiaries
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Net changes in items other than shareholders' equity............................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
Net assets, total
Balance at beginning of current fiscal year...............................................................................................................
Changes in items during the period:
Cash dividends.........................................................................................................................................................
Net income.................................................................................................................................................................
Purchase of treasury stock................................................................................................................................
Disposal of treasury stock..................................................................................................................................
Net changes in items other than shareholders' equity............................................................................
Total..............................................................................................................................................................................
Balance at end of current fiscal year...........................................................................................................................
See the notes to the consolidated financial statements.

Annual Report 2012 | 52

FINANCIAL DATA

Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
HORIBA, Ltd. and Consolidated Subsidiaries
For the years ended December 31, 2011 and December 31, 2012

Millions of yen
12/2011
12/2012
Cash flows from operating activities:
Income before income taxes..........................................................................................................................................................
Adjustments to reconcile income before income taxes to net cash provided by operating activities:
Depreciation and amortization...........................................................................................................................................
Loss on impairment of fixed assets.................................................................................................................................
Increase (decrease) in allowance for doubtful receivables....................................................................................
Increase (decrease) in provision for business structrue improvement.............................................................
Increase (decrease) in employees' retirement benefits..........................................................................................
Increase (decrease) in directors' and corporate auditors' retirement benefits ..........................................
Increase (decrease) in reserve for loss on guarantees...........................................................................................
Increase (decrease) in provision for compensation losses....................................................................................
Interest and dividend income..............................................................................................................................................
Interest expense......................................................................................................................................................................
Foreign exchange losses (gains)........................................................................................................................................
Loss (gain) on sales of fixed assets.................................................................................................................................
Loss on disposal of fixed assets.......................................................................................................................................
Loss (gain) on valuation of investment securities.....................................................................................................
Loss (gain) on sales of investment securities.............................................................................................................
Decrease (increase) in trade notes and accounts receivable..............................................................................
Decrease (increase) in inventories...................................................................................................................................
Increase (decrease) in trade notes and accounts payable....................................................................................
Other, net....................................................................................................................................................................................
Subtotal.............................................................................................................................................................................
Interest and dividends received.........................................................................................................................................
Interest paid...............................................................................................................................................................................
Income taxes paid....................................................................................................................................................................
Net cash provided by (used in) operating activities.......................................................................................

¥13,647¥11,170$129,013

4,146
98
(40)
192
87
(26)
(67)
187
(190)
494
(21)
(5)
48
370
0
(4,080)(2,144)70
791
13,560184(519)(6,270)
6,954

3,743
135
55
(177)
186
(26)
(159)
(312)
478
13
(30)
143
2
4,133
40
(2,345)
1,417
18,468305(499)(4,879)13,39543,231
1,559
635(2,044)2,148(300)(1,836)(3,603)
5,520
150
(346)
1,651
23
47,736462(27,084)
16,366
213,305
3,522(5,763)(56,352)
154,712

Cash flows from investing activities:
Increase in time deposits.....................................................................................................................................................
Decrease in time deposits...................................................................................................................................................
Decrease in time deposits restricted for use..............................................................................................................
Payments for purchase of marketable securities......................................................................................................
Proceeds from sales of marketable securities............................................................................................................
Payments for purchase of property, plant and equipment.....................................................................................
Proceeds from sales of property, plant and equipment..........................................................................................
Payments for purchase of intangibles...........................................................................................................................
Payments for purchase of investment securities......................................................................................................
Proceeds from sales or redemption of investment securities..............................................................................
Payments for purchase of investments in consolidated subsidiary...................................................................
Other, net....................................................................................................................................................................................
Net cash provided by (used in) investing activities........................................................................................

(872)
507
32
(1,908)905(4,204)
51
(226)
(136)
12
(44)
(260)
(6,145)(2,410)2,410
32(2,904)
2,509(6,741)
79
(712)
(147)
7
(18)
3
(7,891)(27,835)
27,835369(33,541)
28,978(77,858)912(8,223)(1,697)80(207)
34(91,141)

Cash flows from financing activities:
Net increase (decrease) in short-term loans..............................................................................................................
Increase in long-term debt..................................................................................................................................................
Repayments of long-term debt..........................................................................................................................................
Repayments on finance lease obligations......................................................................................................................
Proceeds from stock issuance to minority shareholders.......................................................................................
Net decrease (increase) of treasury stock...................................................................................................................
Cash dividends paid................................................................................................................................................................
Cash dividends paid to minority interests.....................................................................................................................
Net cash provided by (used in) financing activities........................................................................................

1,557
824
(577)
(135)
41
(0)
(847)
(6)
855

(2,395)
1,827
(635)
(156)
0
(1,943)(3,304)(27,662)
21,101(7,334)(1,801)
0(22,441)(38,161)

Effect of exchange rate changes on cash and cash equivalents...............................................................................................
Net increase (decrease) in cash and cash equivalents..................................................................................................................
Cash and cash equivalents at beginning of year...............................................................................................................................
Cash and cash equivalents at end of year...........................................................................................................................................

(356)
1,308
34,459¥35,767

891
3,090
35,767¥38,858

10,29135,689413,109$448,810

See the notes to the consolidated financial statements.

53

Thousands of
U.S. dollars(Note 1)
12/2012HORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻝㻚㻌㻮㼍㼟㼕㼟㻌㼛㼒㻌㼜㼞㼑㼟㼑㼚㼠㼕㼚㼓㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌㻯㼛㼙㼜㼍㼚㼥㻌㻹㼍㼚㼍㼓㼑㼙㼑㼚㼠䇿㻌㼍㼟㻌㼍㻌㼔㼕㼓㼔㻙㼜㼞㼕㼛㼞㼕㼠㼥㻌㼜㼛㼘㼕㼏㼥㻌㼠㼛㻌㼑㼚㼔㼍㼚㼏㼑㻌㼕㼠㼟㻌㼓㼘㼛㼎㼍㼘㻌㼀㼔㼑㻌 㼍㼏㼏㼛㼙㼜㼍㼚㼥㼕㼚㼓㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌 㼛㼒㻌 㻴㻻㻾㻵㻮㻭㻘㻌 㻸㼠㼐㻚㻌㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻚㻌㻭㼟㻌㼜㼍㼞㼠㻌㼛㼒㻌㼠㼔㼕㼟㻘㻌㼍㻌㼡㼚㼕㼒㼕㼑㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌㼑㼢㼍㼘㼡㼍㼠㼕㼛㼚㻌㻔䇾㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥䇿㻕㻌㼔㼍㼢㼑㻌㼎㼑㼑㼚㻌㼜㼞㼑㼜㼍㼞㼑㼐㻌㼕㼚㻌㼍㼏㼏㼛㼞㼐㼍㼚㼏㼑㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼜㼞㼛㼢㼕㼟㼕㼛㼚㼟㻌㼟㼥㼟㼠㼑㼙㻌 㼠㼔㼍㼠㻌 㼕㼚㼏㼘㼡㼐㼑㼟㻌 㼠㼔㼑㻌 㼛㼢㼑㼞㼟㼑㼍㼟㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼎㼑㼏㼍㼙㼑㻌㼟㼑㼠㻌㼒㼛㼞㼠㼔㻌㼕㼚㻌㼠㼔㼑㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㼍㼚㼐㻌㻱㼤㼏㼔㼍㼚㼓㼑㻌㻸㼍㼣㻌㼍㼚㼐㻌㼚㼑㼏㼑㼟㼟㼍㼞㼥㻚㻌 㻿㼑㼏㼛㼚㼐㻘㻌 㼍㼟㻌 㼠㼔㼑㻌 㼞㼍㼠㼕㼛㻌 㼛㼒㻌 㼒㼞㼑㼕㼓㼔㼠㻌 㼍㼚㼐㻌 㼟㼔㼕㼜㼜㼕㼚㼓㻌 㼑㼤㼜㼑㼚㼟㼑㼟㻌 㼠㼛㻌㼕㼠㼟㻌 㼞㼑㼘㼍㼠㼑㼐㻌 㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌 㼞㼑㼓㼡㼘㼍㼠㼕㼛㼚㼟㻌 㼍㼚㼐㻌 㼕㼚㻌 㼏㼛㼚㼒㼛㼞㼙㼕㼠㼥㻌 㼣㼕㼠㼔㻌 㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼛㼢㼑㼞㼍㼘㼘㻌 㼏㼛㼟㼠㼟㻌 㼔㼍㼟㻌 㼕㼚㼏㼞㼑㼍㼟㼑㼐㻌 㼐㼡㼑㻌 㼠㼛㻌 㼍㼚㻌 㼕㼚㼏㼞㼑㼍㼟㼑㻌 㼕㼚㻌 㼕㼚㼠㼑㼞㼚㼍㼠㼕㼛㼚㼍㼘㻌㼜㼞㼕㼚㼏㼕㼜㼘㼑㼟㻌㼓㼑㼚㼑㼞㼍㼘㼘㼥㻌㼍㼏㼏㼑㼜㼠㼑㼐㻌㼕㼚㻌㻶㼍㼜㼍㼚㻌㻔䇾㻶㼍㼜㼍㼚㼑㼟㼑㻌㻳㻭㻭㻼䇿㻕㻘㻌㼣㼔㼕㼏㼔㻌㼍㼞㼑㻌㼠㼞㼍㼚㼟㼜㼛㼞㼠㼍㼠㼕㼛㼚㻌 㼍㼚㼐㻌 㼔㼕㼓㼔㼑㼞㻌 㼒㼡㼑㼘㻌 㼏㼛㼟㼠㼟㻌 㼏㼍㼡㼟㼑㼐㻌 㼎㼥㻌 㼓㼘㼛㼎㼍㼘㼕㼦㼍㼠㼕㼛㼚㻘㻌 㼠㼔㼑㻌㼐㼕㼒㼒㼑㼞㼑㼚㼠㻌 㼕㼚㻌 㼏㼑㼞㼠㼍㼕㼚㻌 㼞㼑㼟㼜㼑㼏㼠㼟㻌 㼍㼟㻌 㼠㼛㻌 㼍㼜㼜㼘㼕㼏㼍㼠㼕㼛㼚㻌 㼍㼚㼐㻌 㼐㼕㼟㼏㼘㼛㼟㼡㼞㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌 㼏㼛㼚㼏㼘㼡㼐㼑㼐㻌 㼠㼔㼍㼠㻌 㼙㼍㼗㼕㼚㼓㻌 㼒㼞㼑㼕㼓㼔㼠㻌 㼍㼚㼐㻌 㼟㼔㼕㼜㼜㼕㼚㼓㻌 㼑㼤㼜㼑㼚㼟㼑㼟㻌㼞㼑㼝㼡㼕㼞㼑㼙㼑㼚㼠㼟㻌㼒㼞㼛㼙㻌㻵㼚㼠㼑㼞㼚㼍㼠㼕㼛㼚㼍㼘㻌㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌㻾㼑㼜㼛㼞㼠㼕㼚㼓㻌㻿㼠㼍㼚㼐㼍㼞㼐㼟㻚㻌㼏㼛㼞㼞㼑㼟㼜㼛㼚㼐㻌㼐㼕㼞㼑㼏㼠㼘㼥㻌㼠㼛㻌㼟㼍㼘㼑㼟㻌㼍㼚㼐㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼏㼛㼟㼠㻌㼛㼒㻌㼟㼍㼘㼑㼟㻌㼣㼛㼡㼘㼐㻌㼞㼑㼟㼡㼘㼠㻌㼀㼔㼑㻌 㼍㼏㼏㼛㼡㼚㼠㼟㻌 㼛㼒㻌 㼠㼔㼑㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼛㼢㼑㼞㼟㼑㼍㼟㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼔㼍㼢㼑㻌 㼎㼑㼑㼚㻌㼕㼚㻌㼙㼛㼞㼑㻌㼍㼚㻌㼍㼜㼜㼞㼛㼜㼞㼕㼍㼠㼑㻌㼐㼕㼟㼏㼘㼛㼟㼡㼞㼑㻌㼛㼒㻌㼓㼞㼛㼟㼟㻌㼕㼚㼏㼛㼙㼑㻚㻌㼜㼞㼑㼜㼍㼞㼑㼐㻌 㼕㼚㻌 㼍㼏㼏㼛㼞㼐㼍㼚㼏㼑㻌 㼣㼕㼠㼔㻌 㼑㼕㼠㼔㼑㼞㻌 㻵㼚㼠㼑㼞㼚㼍㼠㼕㼛㼚㼍㼘㻌 㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌 㻾㼑㼜㼛㼞㼠㼕㼚㼓㻌㻌 㻌 㼀㼛㻌 㼞㼑㼒㼘㼑㼏㼠㻌 㼠㼔㼕㼟㻌 㼏㼔㼍㼚㼓㼑㻌 㼕㼚㻌 㼜㼞㼑㼟㼑㼚㼠㼍㼠㼕㼛㼚㻌 㼙㼑㼠㼔㼛㼐㻘㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼔㼍㼟㻌㻿㼠㼍㼚㼐㼍㼞㼐㼟㻌 㼛㼞㻌 㼁㻚㻿㻚㻌 㼓㼑㼚㼑㼞㼍㼘㼘㼥㻌 㼍㼏㼏㼑㼜㼠㼑㼐㻌 㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌 㼜㼞㼕㼚㼏㼕㼜㼘㼑㼟㻘㻌 㼣㼕㼠㼔㻌㼞㼑㼏㼘㼍㼟㼟㼕㼒㼕㼑㼐㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌㼒㼛㼞㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻝㻚㻌㻵㼚㻌㼠㼔㼑㻌㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㼟㻌 㼒㼛㼞㻌 㼠㼔㼑㻌 㼒㼕㼢㼑㻌 㼟㼜㼑㼏㼕㼒㼕㼑㼐㻌 㼕㼠㼑㼙㼟㻌 㼍㼟㻌 㼍㼜㼜㼘㼕㼏㼍㼎㼘㼑㻚 㻌 㼀㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌 㼛㼒㻌 㼕㼚㼏㼛㼙㼑㻌 㼒㼛㼞㻌 㼒㼕㼟㼏㼍㼘㻌 㻞㻜㻝㻝㻘㻌 㼠㼔㼑㻌 㼍㼙㼛㼡㼚㼠㼟㻌㼍㼏㼏㼛㼙㼜㼍㼚㼥㼕㼚㼓㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌㼔㼍㼢㼑㻌㼎㼑㼑㼚㻌㼞㼑㼟㼠㼞㼡㼏㼠㼡㼞㼑㼐㻌㼐㼕㼟㼏㼘㼛㼟㼑㼐㻌㼒㼛㼞㻌㼏㼛㼟㼠㻌㼛㼒㻌㼟㼍㼘㼑㼟㻌㼍㼚㼐㻌㻿㻳㻒㻭㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼣㼑㼞㼑㻌\㻢㻣㻘㻤㻥㻞㻌㼙㼕㼘㼘㼕㼛㼚㻌㼍㼚㼐㻌㼍㼚㼐㻌㼠㼞㼍㼚㼟㼘㼍㼠㼑㼐㻌㼕㼚㼠㼛㻌㻱㼚㼓㼘㼕㼟㼔㻘㻌㼣㼕㼠㼔㻌㼟㼛㼙㼑㻌㼑㼤㼜㼍㼚㼐㼑㼐㻌㼐㼑㼟㼏㼞㼕㼜㼠㼕㼛㼚㼟㻘㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌\㻠㻜㻘㻢㻡㻣㻌 㼙㼕㼘㼘㼕㼛㼚㻘㻌 㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚㻌 㻴㼛㼣㼑㼢㼑㼞㻘㻌 㼍㼟㻌 㼍㻌 㼞㼑㼟㼡㼘㼠㻌 㼛㼒㻌 㼏㼔㼍㼚㼓㼑㻘㻌 㼠㼔㼑㼟㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌 㼛㼒㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼜㼞㼑㼜㼍㼞㼑㼐㻌 㼕㼚㻌㼍㼙㼛㼡㼚㼠㼟㻌㼔㼍㼢㼑㻌㼎㼑㼑㼚㻌 㼞㼑㼟㼠㼍㼠㼑㼐㻌 㼍㼟㻌\㻣㻜㻘㻞㻡㻥㻌 㼙㼕㼘㼘㼕㼛㼚㻌㼒㼛㼞㻌㼏㼛㼟㼠㻌㼛㼒㻌㼟㼍㼘㼑㼟㻌 㼍㼚㼐㻌㼍㼏㼏㼛㼞㼐㼍㼚㼏㼑㻌㼣㼕㼠㼔㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌㻳㻭㻭㻼㻌㼍㼚㼐㻌㼒㼕㼘㼑㼐㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼍㼜㼜㼞㼛㼜㼞㼕㼍㼠㼑㻌㻸㼛㼏㼍㼘㻌\㻟㻤㻘㻞㻥㻜㻌㼙㼕㼘㼘㼕㼛㼚㻌㼒㼛㼞㻌㻿㻳㻒㻭㻌㼑㼤㼜㼑㼚㼟㼑㼟㻚㻌㻲㼕㼚㼍㼚㼏㼑㻌㻮㼡㼞㼑㼍㼡㻌㼛㼒㻌㼠㼔㼑㻌㻹㼕㼚㼕㼟㼠㼞㼥㻌㼛㼒㻌㻲㼕㼚㼍㼚㼏㼑㻌㼍㼟㻌㼞㼑㼝㼡㼕㼞㼑㼐㻌㼎㼥㻌㼠㼔㼑㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌㻌㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㼍㼚㼐㻌 㻱㼤㼏㼔㼍㼚㼓㼑㻌 㻸㼍㼣㻚㻌 㻿㼛㼙㼑㻌 㼟㼡㼜㼜㼘㼑㼙㼑㼚㼠㼍㼞㼥㻌㻞㻚㻌㻿㼡㼙㼙㼍㼞㼥㻌㼛㼒㻌㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼜㼛㼘㼕㼏㼕㼑㼟㻌㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌 㼕㼚㼏㼘㼡㼐㼑㼐㻌 㼕㼚㻌 㼠㼔㼑㻌 㼟㼠㼍㼠㼡㼠㼛㼞㼥㻌 㻶㼍㼜㼍㼚㼑㼟㼑㻌 㼘㼍㼚㼓㼡㼍㼓㼑㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㻔㼍㻕㻌㻼㼞㼕㼚㼏㼕㼜㼘㼑㼟㻌㼛㼒㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼕㼛㼚㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻘㻌 㼎㼡㼠㻌 㼚㼛㼠㻌 㼞㼑㼝㼡㼕㼞㼑㼐㻌 㼒㼛㼞㻌 㼒㼍㼕㼞㻌 㼜㼞㼑㼟㼑㼚㼠㼍㼠㼕㼛㼚㻘㻌 㼕㼟㻌 㼚㼛㼠㻌㼀㼔㼑㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌 㼕㼚㼏㼘㼡㼐㼑㻌 㼠㼔㼑㻌 㼍㼏㼏㼛㼡㼚㼠㼟㻌 㼛㼒㻌 㼠㼔㼑㻌㼜㼞㼑㼟㼑㼚㼠㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼍㼏㼏㼛㼙㼜㼍㼚㼥㼕㼚㼓㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻚㻌㻯㼛㼙㼜㼍㼚㼥㻌㼍㼚㼐㻌㻟㻢㻌㻔㻟㻡㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻝㻕㻌㼛㼒㻌㼕㼠㼟㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㻔䇾㻴㻻㻾㻵㻮㻭䇿㻌㼍㼟㻌㼍㻌㼀㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼔㼍㼟㻌 㼍㼜㼜㼘㼕㼑㼐㻌 䇾㻭㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌 㻿㼠㼍㼚㼐㼍㼞㼐㻌 㼒㼛㼞㻌 㻭㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼓㼞㼛㼡㼜㻕㻚㻌 㻵㼚㻌 㼒㼕㼟㼏㼍㼘㻌 㻞㻜㻝㻞㻘㻌 㼠㼔㼞㼑㼑㻌 㼏㼛㼙㼜㼍㼚㼕㼑㼟㻌 㼣㼑㼞㼑㻌 㼚㼑㼣㼘㼥㻌㻯㼔㼍㼚㼓㼑㼟㻌㼍㼚㼐㻌㻱㼞㼞㼛㼞㻌㻯㼛㼞㼞㼑㼏㼠㼕㼛㼚㼟䇿㻌㻔㻭㻿㻮㻶㻌㻿㼠㼍㼠㼑㼙㼑㼚㼠㻌㻺㼛㻚㻌㻞㻠㻘㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻠㻘㻌㼕㼚㼏㼛㼞㼜㼛㼞㼍㼠㼑㼐㻌㼍㼚㼐㻌㼠㼣㼛㻌㼏㼛㼙㼜㼍㼚㼕㼑㼟㻌㼣㼑㼞㼑㻌㼙㼑㼞㼓㼑㼐㻌㼕㼚㼠㼛㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼍㼚㼐㻌㻞㻜㻜㻥㻕㻌㼍㼚㼐㻌䇾㻳㼡㼕㼐㼍㼚㼏㼑㻌㼛㼚㻌㻭㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㻿㼠㼍㼚㼐㼍㼞㼐㻌㼒㼛㼞㻌㻭㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㻯㼔㼍㼚㼓㼑㼟㻌㼍㼚㼛㼠㼔㼑㼞㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼥㻚㻌 㻌㼍㼚㼐㻌㻱㼞㼞㼛㼞㻌㻯㼛㼞㼞㼑㼏㼠㼕㼛㼚㼟䇿㻌㻔㻭㻿㻮㻶㻌㻳㼡㼕㼐㼍㼚㼏㼑㻌㻺㼛㻚㻌㻞㻠㻘㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻠㻘㻌㻞㻜㻜㻥㻕㻌㼒㼛㼞㻌㼀㼔㼑㻌 㼍㼏㼏㼛㼙㼜㼍㼚㼥㼕㼚㼓㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌 㼕㼚㼏㼘㼡㼐㼑㻌 㼠㼔㼑㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼏㼔㼍㼚㼓㼑㼟㻌㼍㼚㼐㻛㼛㼞㻌㼏㼛㼞㼞㼑㼏㼠㼕㼛㼚㼟㻌㼛㼒㻌㼜㼍㼟㼠㻌㼑㼞㼞㼛㼞㼟㻌㼣㼔㼕㼏㼔㻌㼛㼏㼏㼡㼞㻌㼒㼞㼛㼙㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌 㼛㼒㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼚㼐㻌 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㻌 㼏㼛㼙㼜㼍㼚㼕㼑㼟㻌 㼛㼢㼑㼞㻌 㼣㼔㼕㼏㼔㻌 㼠㼔㼑㻌㼠㼔㼑㻌㼎㼑㼓㼕㼚㼚㼕㼚㼓㻌㼛㼒㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻚㻌㻯㼛㼙㼜㼍㼚㼥㻌 㼔㼍㼟㻌 㼏㼛㼚㼠㼞㼛㼘㻌 㼠㼔㼞㼛㼡㼓㼔㻌 㼙㼍㼖㼛㼞㼕㼠㼥㻌 㼢㼛㼠㼕㼚㼓㻌 㼞㼕㼓㼔㼠㼟㻌 㼛㼞㻌 㼏㼑㼞㼠㼍㼕㼚㻌 㼛㼠㼔㼑㼞㻌㼅㼑㼚㻌㼍㼙㼛㼡㼚㼠㼟㻌㼍㼞㼑㻌㼞㼛㼡㼚㼐㼑㼐㻌㼐㼛㼣㼚㻌㼠㼛㻌㼠㼔㼑㻌㼚㼑㼍㼞㼑㼟㼠㻌㼙㼕㼘㼘㼕㼛㼚㻚㻌㼀㼔㼑㼞㼑㼒㼛㼞㼑㻘㻌㼠㼛㼠㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㼟㻌㼑㼢㼕㼐㼑㼚㼏㼕㼚㼓㻌㼏㼛㼚㼠㼞㼛㼘㻌㼎㼥㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻚㻌㻿㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㻌㼕㼚㼠㼑㼞㼏㼛㼙㼜㼍㼚㼥㻌㼛㼞㻌㼟㼡㼎㼠㼛㼠㼍㼘㻌㼍㼙㼛㼡㼚㼠㼟㻌㼐㼛㻌㼚㼛㼠㻌㼚㼑㼏㼑㼟㼟㼍㼞㼕㼘㼥㻌㼏㼛㼞㼞㼑㼟㼜㼛㼚㼐㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼍㼓㼓㼞㼑㼓㼍㼠㼑㻌㼛㼒㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼔㼍㼢㼑㻌㼎㼑㼑㼚㻌㼑㼘㼕㼙㼕㼚㼍㼠㼑㼐㻌㼕㼚㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼕㼛㼚㻚㻌㻵㼚㻌㼠㼔㼑㻌㼟㼡㼏㼔㻌㼍㼏㼏㼛㼡㼚㼠㻌㼎㼍㼘㼍㼚㼏㼑㼟㻚㻌㼑㼘㼕㼙㼕㼚㼍㼠㼕㼛㼚㻌㼛㼒㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼕㼚㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻘㻌㼠㼔㼑㻌㼍㼟㼟㼑㼠㼟㻌㼍㼚㼐㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌㼛㼒㻌㼠㼔㼑㻌㼀㼔㼑㻌㼠㼞㼍㼚㼟㼘㼍㼠㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌㼥㼑㼚㻌㼍㼙㼛㼡㼚㼠㼟㻌㼕㼚㼠㼛㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㻌㼍㼙㼛㼡㼚㼠㼟㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻘㻌㼕㼚㼏㼘㼡㼐㼕㼚㼓㻌㼠㼔㼑㻌㼜㼛㼞㼠㼕㼛㼚㼟㻌㼍㼠㼠㼞㼕㼎㼡㼠㼍㼎㼘㼑㻌㼠㼛㻌㼙㼕㼚㼛㼞㼕㼠㼥㻌㼟㼔㼍㼞㼑㼔㼛㼘㼐㼑㼞㼟㻘㻌㼕㼟㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌㼟㼛㼘㼑㼘㼥㻌㼒㼛㼞㻌㼠㼔㼑㻌㼏㼛㼚㼢㼑㼚㼕㼑㼚㼏㼑㻌㼛㼒㻌㼞㼑㼍㼐㼑㼞㼟㻌㼛㼡㼠㼟㼕㼐㼑㻌㻶㼍㼜㼍㼚㻘㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼍㼞㼑㻌 㼑㼢㼍㼘㼡㼍㼠㼑㼐㻌 㼡㼟㼕㼚㼓㻌 㼠㼔㼑㻌 㼒㼍㼕㼞㻌 㼢㼍㼘㼡㼑㻌 㼍㼠㻌 㼠㼔㼑㻌 㼠㼕㼙㼑㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼏㼝㼡㼕㼞㼑㼐㻌㼜㼞㼑㼢㼍㼕㼘㼕㼚㼓㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㼞㼍㼠㼑㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻘㻌㼣㼔㼕㼏㼔㻌㼣㼍㼟㻌\㻤㻢㻚㻡㻤㻌㼠㼛㻌㼁㻚㻿㻚㻌㼏㼛㼚㼠㼞㼛㼘㻌㼛㼒㻌㼠㼔㼑㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼥㻚㻌㻭㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻌㼏㼛㼟㼠㼟㻌㼠㼔㼍㼠㻌㼍㼞㼑㻌㼕㼚㻌㼑㼤㼏㼑㼟㼟㻌㻐㻝㻚㻜㻜㻚㻌 㻌 㼀㼔㼑㻌 㼠㼞㼍㼚㼟㼘㼍㼠㼕㼛㼚㼟㻌 㼟㼔㼛㼡㼘㼐㻌 㼚㼛㼠㻌 㼎㼑㻌 㼏㼛㼚㼟㼠㼞㼡㼑㼐㻌 㼍㼟㻌 㼞㼑㼜㼞㼑㼟㼑㼚㼠㼍㼠㼕㼛㼚㼟㻌㼛㼒㻌㼠㼔㼑㻌㼚㼑㼠㻌㼍㼟㼟㼑㼠㼟㻌㼛㼒㻌㼍㼏㼝㼡㼕㼞㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼍㼚㼐㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼟㻌㼍㼚㼐㻌㼏㼍㼚㼚㼛㼠㻌㼎㼑㻌㼠㼔㼍㼠㻌㼠㼔㼑㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌㼥㼑㼚㻌㼍㼙㼛㼡㼚㼠㼟㻌㼔㼍㼢㼑㻌㼎㼑㼑㼚㻘㻌㼏㼛㼡㼘㼐㻌㼔㼍㼢㼑㻌㼎㼑㼑㼚㻌㼛㼞㻌㼏㼛㼡㼘㼐㻌㼕㼚㻌㼍㼟㼟㼕㼓㼚㼑㼐㻌㼠㼛㻌㼟㼜㼑㼏㼕㼒㼕㼏㻌㼕㼚㼐㼕㼢㼕㼐㼡㼍㼘㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼍㼞㼑㻌㼍㼙㼛㼞㼠㼕㼦㼑㼐㻌㼛㼚㻌㼍㻌㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌㼠㼔㼑㻌㼒㼡㼠㼡㼞㼑㻌 㼎㼑㻌㼏㼛㼚㼢㼑㼞㼠㼑㼐㻌㼕㼚㼠㼛㻌 㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻌㼍㼠㻌㼠㼔㼕㼟㻌㼛㼞㻌㼍㼚㼥㻌㼛㼠㼔㼑㼞㻌㼞㼍㼠㼑㻌㼛㼒㻌㼎㼍㼟㼕㼟㻌㼛㼢㼑㼞㻌㼒㼕㼢㼑㻌㼥㼑㼍㼞㼟㻚㻌 㻌㼑㼤㼏㼔㼍㼚㼓㼑㻚㻌 㼀㼔㼑㻌 㼁㻚㻿㻚㻌 㼐㼛㼘㼘㼍㼞㼟㻌 㼍㼙㼛㼡㼚㼠㼟㻌 㼍㼞㼑㻌 㼠㼔㼑㼚㻌 㼞㼛㼡㼚㼐㼑㼐㻌 㼐㼛㼣㼚㻌 㼠㼛㻌 㼠㼔㼑㻌㼚㼑㼍㼞㼑㼟㼠㻌㼠㼔㼛㼡㼟㼍㼚㼐㻚㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻌㼕㼟㻌㼠㼔㼑㻌㼥㼑㼍㼞㻙㼑㼚㼐㻌㼛㼒㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼍㼚㼐㻌㼠㼔㼍㼠㻌㼛㼒㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌㼒㼛㼞㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻚㻌㻯㼑㼞㼠㼍㼕㼚㻌㼜㼞㼕㼛㼞㻌㼥㼑㼍㼞㻌㼍㼙㼛㼡㼚㼠㼟㻌㼔㼍㼢㼑㻌㼎㼑㼑㼚㻌㼞㼑㼏㼘㼍㼟㼟㼕㼒㼕㼑㼐㻌㼠㼛㻌㼏㼛㼚㼒㼛㼞㼙㻌㼠㼛㻌㼠㼔㼑㻌㻻㼚㼑㻌㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥䇻㼟㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼕㼟㻌㼚㼛㼠㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼏㼡㼞㼞㼑㼚㼠㻌 㼥㼑㼍㼞䇻㼟㻌 㼜㼞㼑㼟㼑㼚㼠㼍㼠㼕㼛㼚㻚㻌 㻼㼞㼑㼢㼕㼛㼡㼟㼘㼥㻘㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼚㼐㻌 㼟㼛㼙㼑㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼍㼟㻌㼠㼔㼑㻌㼑㼒㼒㼑㼏㼠㻌㼛㼒㻌㼕㼠㼟㻌㼕㼚㼏㼘㼡㼟㼕㼛㼚㻌㼛㼚㻌㼠㼛㼠㼍㼘㻌㼍㼟㼟㼑㼠㼟㻘㻌㼟㼍㼘㼑㼟㻘㻌㼕㼚㼏㼛㼙㼑㻌㼍㼚㼐㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼜㼞㼑㼟㼑㼚㼠㼑㼐㻌 㼒㼞㼑㼕㼓㼔㼠㻌 㼍㼚㼐㻌 㼟㼔㼕㼜㼜㼕㼚㼓㻌 㼑㼤㼜㼑㼚㼟㼑㼟㻌 㼍㼟㻌㼞㼑㼠㼍㼕㼚㼑㼐㻌㼑㼍㼞㼚㼕㼚㼓㼟㻌㼣㼛㼡㼘㼐㻌㼔㼍㼢㼑㻌㼎㼑㼑㼚㻌㼕㼙㼙㼍㼠㼑㼞㼕㼍㼘㻚㻌 㻌㼟㼑㼘㼘㼕㼚㼓㻘㻌㼓㼑㼚㼑㼞㼍㼘㻌㼍㼚㼐㻌㼍㼐㼙㼕㼚㼕㼟㼠㼞㼍㼠㼕㼢㼑㻌㻔䇾㻿㻳㻒㻭䇿㻕㻌㼑㼤㼜㼑㼚㼟㼑㼟㻘㻌㼎㼡㼠㻌㼒㼞㼛㼙㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻘㻌㼠㼔㼑㼟㼑㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼍㼞㼑㻌㼜㼞㼑㼟㼑㼚㼠㼑㼐㻌㼍㼟㻌㼏㼛㼟㼠㻌㼛㼒㻌㼟㼍㼘㼑㼟㻚㻌㼀㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼔㼍㼟㻌㼒㼛㼡㼞㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼐㻌㼏㼛㼙㼜㼍㼚㼕㼑㼟㻌㻔㼒㼕㼢㼑㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻝㻕㻚㻌㼀㼔㼑㻌㼟㼔㼍㼞㼑㼟㻌㼛㼒㻌㼛㼚㼑㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼐㻌㼏㼛㼙㼜㼍㼚㼥㻌㼣㼑㼞㼑㻌㼟㼛㼘㼐㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻚㻌㻲㼛㼞㻌㼛㼚㼑㻌㼛㼒㻌㼠㼔㼑㻌㼀㼔㼕㼟㻌 㼏㼔㼍㼚㼓㼑㻌 㼣㼍㼟㻌 㼕㼙㼜㼘㼑㼙㼑㼚㼠㼑㼐㻌 㼙㼍㼕㼚㼘㼥㻌 㼒㼛㼞㻌 㼠㼣㼛㻌 㼞㼑㼍㼟㼛㼚㼟㻚㻌 㻲㼕㼞㼟㼠㻘㻌 㼕㼚㻌 㼠㼔㼑㻌㼒㼛㼡㼞㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼟㻘㻌㼠㼔㼑㻌㼑㼝㼡㼕㼠㼥㻌㼙㼑㼠㼔㼛㼐㻌㼣㼍㼟㻌㼍㼜㼜㼘㼕㼑㼐㻚㻌 㻌 㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼕㼚㻌㼠㼔㼑㻌㼛㼠㼔㼑㼞㻌㼏㼍㼟㼑㻌㼛㼒㻌㼠㼔㼑㻌㻹㼕㼐㻙㻸㼛㼚㼓㻌㼀㼑㼞㼙㻌㻹㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌㻼㼘㼍㼚㻌㼠㼔㼍㼠㻌㼟㼠㼍㼞㼠㼑㼐㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻝㻘㻌㼠㼔㼞㼑㼑㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼟㻌㻔㼓㼑㼚㼑㼞㼍㼘㼘㼥㻌㻞㻜㻑㻙㻡㻜㻑㻌㼛㼣㼚㼑㼞㼟㼔㼕㼜㻕㻌㼍㼚㼐㻌㼕㼚㻌㼛㼚㼑㻌㼚㼛㼚㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼐㼛㼜㼠㼑㼐㻌 㼠㼔㼑㻌 㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌 㼍㼚㼐㻌 㼏㼛㼙㼜㼘㼑㼠㼕㼛㼚㻌 㼛㼒㻌 䇾㻻㼚㼑㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼥㻌㼣㼑㼞㼑㻌㼍㼏㼏㼛㼡㼚㼠㼑㼐㻌㼒㼛㼞㻌㼛㼚㻌㼍㻌㼏㼛㼟㼠㻌㼎㼍㼟㼕㼟㻘㻌㼚㼛㼠㻌㼎㼥㻌㼠㼔㼑㻌㼑㼝㼡㼕㼠㼥㻌㼙㼑㼠㼔㼛㼐㻘㻌
Annual Report 2012 | 54

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㼍㼟㻌㼠㼔㼑㻌㼑㼒㼒㼑㼏㼠㻌㼛㼚㻌㼕㼚㼏㼛㼙㼑㻌㼍㼚㼐㻌㼞㼑㼠㼍㼕㼚㼑㼐㻌㼑㼍㼞㼚㼕㼚㼓㼟㻌㼣㼍㼟㻌㼕㼙㼙㼍㼠㼑㼞㼕㼍㼘㻚㻌㻔㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㼑㼟㼠㼕㼙㼍㼠㼑㼟㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼞㼑㼟㼕㼐㼡㼍㼘㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻕㻌㻔㼎㻕㻌㻯㼍㼟㼔㻌㼍㼚㼐㻌㼏㼍㼟㼔㻌㼑㼝㼡㼕㼢㼍㼘㼑㼚㼠㼟㻌㻵㼚㻌㼍㼏㼏㼛㼞㼐㼍㼚㼏㼑㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼏㼔㼍㼚㼓㼑㻌㼕㼚㻌㼙㼑㼠㼔㼛㼐㻌㼛㼒㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼒㼛㼞㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㻯㼍㼟㼔㻌㼍㼚㼐㻌㼏㼍㼟㼔㻌㼑㼝㼡㼕㼢㼍㼘㼑㼚㼠㼟㻌㼕㼚㼏㼘㼡㼐㼑㻌㼏㼍㼟㼔㻌㼛㼚㻌㼔㼍㼚㼐㻘㻌㼞㼑㼍㼐㼕㼘㼥㻌㼍㼢㼍㼕㼘㼍㼎㼘㼑㻌㼎㼍㼚㼗㻌㼒㼕㼤㼑㼐㻌 㼍㼟㼟㼑㼠㼟㻘㻌 㼒㼞㼛㼙㻌 㼒㼕㼟㼏㼍㼘㻌 㻞㻜㻝㻞㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼚㼐㻌 㼠㼔㼞㼑㼑㻌 㼐㼛㼙㼑㼟㼠㼕㼏㻌㼐㼑㼜㼛㼟㼕㼠㼟㻌 㼍㼚㼐㻌 㼟㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌 㼔㼕㼓㼔㼘㼥㻌 㼘㼕㼝㼡㼕㼐㻌 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌 㼠㼔㼍㼠㻌 㼍㼞㼑㻌 㼞㼑㼍㼐㼕㼘㼥㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼞㼑㼢㼕㼟㼑㼐㻌㼠㼔㼑㻌㼞㼑㼟㼕㼐㼡㼍㼘㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼠㼔㼑㼕㼞㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼒㼕㼤㼑㼐㻌㼏㼛㼚㼢㼑㼞㼠㼕㼎㼘㼑㻌㼕㼚㼠㼛㻌㼏㼍㼟㼔㻘㻌㼔㼍㼢㼑㻌㼕㼚㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㻌㼞㼕㼟㼗㻌㼛㼒㻌㼏㼔㼍㼚㼓㼑㻌㼕㼚㻌㼢㼍㼘㼡㼑㻌㼍㼚㼐㻌㼔㼍㼢㼑㻌㼍㼟㼟㼑㼠㼟㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼙㼑㼠㼔㼛㼐㻌㼠㼔㼍㼠㻌㼑㼚㼠㼍㼕㼘㼟㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼠㼛㻌㼍㻌㼞㼑㼟㼕㼐㼡㼍㼘㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼛㼞㼕㼓㼕㼚㼍㼘㻌㼙㼍㼠㼡㼞㼕㼠㼕㼑㼟㻌㼛㼒㻌㼠㼔㼞㼑㼑㻌㼙㼛㼚㼠㼔㼟㻌㼛㼞㻌㼘㼑㼟㼟㻌㼒㼞㼛㼙㻌㼐㼍㼠㼑㻌㼛㼒㻌㼜㼡㼞㼏㼔㼍㼟㼑㻚㻌 㻌㼛㼚㼑㻌㼥㼑㼚㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼠㼔㼑㻌㼍㼏㼠㼡㼍㼘㻌㼡㼟㼑㻌㼛㼒㻌㼠㼔㼑㻌㼍㼟㼟㼑㼠㻚㻌㻔㼏㻕㻌㻿㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㻔㻐㻞㻘㻣㻝㻠㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻌㼕㼚㻌㼎㼛㼠㼔㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻌㼍㼚㼐㻌㼕㼚㼏㼛㼙㼑㻌㼎㼑㼒㼛㼞㼑㻌㼕㼚㼏㼛㼙㼑㻌㼍㼠㻌㼒㼍㼕㼞㻌㼙㼍㼞㼗㼑㼠㻌㼢㼍㼘㼡㼑㻚㻌㼁㼚㼞㼑㼍㼘㼕㼦㼑㼐㻌㼓㼍㼕㼚㼟㻌㼍㼚㼐㻌㼘㼛㼟㼟㼑㼟㻌㼛㼚㻌㼠㼔㼑㼟㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼞㼑㻌㼠㼍㼤㼑㼟㻌㼍㼚㼐㻌㼙㼕㼚㼛㼞㼕㼠㼥㻌㼕㼚㼠㼑㼞㼑㼟㼠㼟㻚㻌㼞㼑㼜㼛㼞㼠㼑㼐㻘㻌㼚㼑㼠㻌㼛㼒㻌㼍㼜㼜㼘㼕㼏㼍㼎㼘㼑㻌㼕㼚㼏㼛㼙㼑㻌㼠㼍㼤㼑㼟㻘㻌㼍㼟㻌㼍㻌㼟㼑㼜㼍㼞㼍㼠㼑㻌㼏㼛㼙㼜㼛㼚㼑㼚㼠㻌㼛㼒㻌㼚㼑㼠㻌㻔㼒㻕㻌㻳㼛㼛㼐㼣㼕㼘㼘㻌㼍㼟㼟㼑㼠㼟㻚㻌 㻌 㻾㼑㼍㼘㼕㼦㼑㼐㻌㼓㼍㼕㼚㼟㻌㼍㼚㼐㻌㼘㼛㼟㼟㼑㼟㻌㼛㼚㻌㼠㼔㼑㻌㼟㼍㼘㼑㻌㼛㼒㻌㼟㼡㼏㼔㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼞㼑㻌㻳㼛㼛㼐㼣㼕㼘㼘㻘㻌㼣㼔㼕㼏㼔㻌㼞㼑㼜㼞㼑㼟㼑㼚㼠㼟㻌㼠㼔㼑㻌㼑㼤㼏㼑㼟㼟㻌㼛㼒㻌㼠㼔㼑㻌㼜㼡㼞㼏㼔㼍㼟㼑㻌㼜㼞㼕㼏㼑㻌㼛㼢㼑㼞㻌㼠㼔㼑㻌㼒㼍㼕㼞㻌㼏㼛㼙㼜㼡㼠㼑㼐㻌㼡㼟㼕㼚㼓㻌㼙㼛㼢㼕㼚㼓㻌㼍㼢㼑㼞㼍㼓㼑㻌㼏㼛㼟㼠㻚㻌㻭㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼠㼔㼑㻌㼚㼑㼠㻌㼍㼟㼟㼑㼠㼟㻌㼍㼏㼝㼡㼕㼞㼑㼐㻘㻌㼕㼟㻌㼍㼙㼛㼞㼠㼕㼦㼑㼐㻌㼛㼚㻌㼍㻌㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌㼎㼍㼟㼕㼟㻌㼚㼛㻌㼍㼢㼍㼕㼘㼍㼎㼘㼑㻌㼒㼍㼕㼞㻌㼙㼍㼞㼗㼑㼠㻌㼢㼍㼘㼡㼑㻌㼍㼞㼑㻌㼟㼠㼍㼠㼑㼐㻌㼙㼍㼕㼚㼘㼥㻌㼍㼠㻌㼙㼛㼢㼕㼚㼓㻌㼍㼢㼑㼞㼍㼓㼑㻌㼏㼛㼟㼠㻚㻌 㻌㼛㼢㼑㼞㻌㼍㻌㼜㼑㼞㼕㼛㼐㻌㼛㼒㻌㼒㼕㼢㼑㻌㼥㼑㼍㼞㼟㻚㻌 㻌㻔㼐㻕㻌㻵㼚㼢㼑㼚㼠㼛㼞㼕㼑㼟㻌㻔㼓㻕㻌㻿㼛㼒㼠㼣㼍㼞㼑㻌㻵㼚㼢㼑㼚㼠㼛㼞㼕㼑㼟㻌㼍㼞㼑㻌㼟㼠㼍㼠㼑㼐㻌㼍㼠㻌㼠㼔㼑㻌㼘㼛㼣㼑㼞㻌㼛㼒㻌㼍㼢㼑㼞㼍㼓㼑㻌㼏㼛㼟㼠㻌㼛㼞㻌㼚㼑㼠㻌㼞㼑㼍㼘㼕㼦㼍㼎㼘㼑㻌㼢㼍㼘㼡㼑㻚㻌㻭㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㼛㼒㻌㼏㼛㼙㼜㼡㼠㼑㼞㻌㼟㼛㼒㼠㼣㼍㼞㼑㻌㼡㼟㼑㼐㻌㼎㼥㻌㻴㻻㻾㻵㻮㻭㻌㼕㼟㻌㼏㼛㼙㼜㼡㼠㼑㼐㻌㼎㼥㻌㼠㼔㼑㻌㻯㼛㼟㼠㻌 㼕㼟㻌 㼐㼑㼠㼑㼞㼙㼕㼚㼑㼐㻌 㼜㼞㼕㼚㼏㼕㼜㼍㼘㼘㼥㻌 㼎㼥㻌 㼠㼔㼑㻌 㼣㼑㼕㼓㼔㼠㼑㼐㻌 㼍㼢㼑㼞㼍㼓㼑㻌 㼙㼑㼠㼔㼛㼐㻌 㼒㼛㼞㻌㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌㼙㼑㼠㼔㼛㼐㻌㼛㼢㼑㼞㻌㼠㼔㼑㻌㼑㼟㼠㼕㼙㼍㼠㼑㼐㻌㼡㼟㼑㼒㼡㼘㻌㼘㼕㼒㼑㻌㼛㼒㻌㻟㻌㼠㼛㻌㻝㻜㻌㼥㼑㼍㼞㼟㻚㻌 㻌㼙㼑㼞㼏㼔㼍㼚㼐㼕㼟㼑㻘㻌 㼒㼕㼚㼕㼟㼔㼑㼐㻌 㼓㼛㼛㼐㼟㻌 㼍㼚㼐㻌 㼣㼛㼞㼗㻙㼕㼚㻙㼜㼞㼛㼏㼑㼟㼟㻌 㼍㼚㼐㻌 㼎㼥㻌 㼠㼔㼑㻌 㼙㼛㼢㼕㼚㼓㻌㻔㼔㻕㻌㻸㼑㼍㼟㼑㼟㻌㼍㼢㼑㼞㼍㼓㼑㻌㼙㼑㼠㼔㼛㼐㻌㼒㼛㼞㻌㼞㼍㼣㻌㼙㼍㼠㼑㼞㼕㼍㼘㼟㻌㼍㼚㼐㻌㼟㼡㼜㼜㼘㼕㼑㼟㻚㻌 㻌㼃㼕㼠㼔㻌㼞㼑㼓㼍㼞㼐㻌㼠㼛㻌㼘㼑㼍㼟㼑㼐㻌㼍㼟㼟㼑㼠㼟㻌㼡㼚㼐㼑㼞㻌㼒㼕㼚㼍㼚㼏㼑㻌㼘㼑㼍㼟㼑㼟㻌㼛㼠㼔㼑㼞㻌㼠㼔㼍㼚㻌㼠㼔㼛㼟㼑㻌㼠㼔㼍㼠㻌㻔㼑㻕㻌㻼㼞㼛㼜㼑㼞㼠㼥㻘㻌㼜㼘㼍㼚㼠㻌㼍㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌㼍㼚㼐㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㻔㼑㼤㼏㼑㼜㼠㻌㼒㼛㼞㻌㼘㼑㼍㼟㼑㼟㻕㻌㼍㼞㼑㻌㼐㼑㼑㼙㼑㼐㻌㼠㼛㻌㼠㼞㼍㼚㼟㼒㼑㼞㻌㼛㼣㼚㼑㼞㼟㼔㼕㼜㻌㼛㼒㻌㼠㼔㼑㻌㼘㼑㼍㼟㼑㼐㻌㼜㼞㼛㼜㼑㼞㼠㼥㻌㼠㼛㻌㼠㼔㼑㻌㼘㼑㼟㼟㼑㼑㻘㻌㻼㼞㼛㼜㼑㼞㼠㼥㻘㻌 㼜㼘㼍㼚㼠㻌 㼍㼚㼐㻌 㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌 㼍㼞㼑㻌 㼟㼠㼍㼠㼑㼐㻌 㼍㼠㻌 㼏㼛㼟㼠㻚㻌 㻰㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌 㼕㼟㻌㼠㼔㼑㻌 㼘㼑㼍㼟㼑㻌 㼠㼑㼞㼙㻌 㼕㼟㻌 㼐㼑㼑㼙㼑㼐㻌 㼠㼛㻌 㼎㼑㻌 㼠㼔㼑㻌 㼡㼟㼑㼒㼡㼘㻌 㼘㼕㼒㼑㻘㻌 㼍㼚㼐㻌 㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌 㼕㼟㻌㼏㼛㼙㼜㼡㼠㼑㼐㻌㼎㼥㻌㼠㼔㼑㻌㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌㼙㼑㼠㼔㼛㼐㻌㼛㼢㼑㼞㻌㼠㼔㼑㻌㼑㼟㼠㼕㼙㼍㼠㼑㼐㻌㼡㼟㼑㼒㼡㼘㻌㼘㼕㼒㼑㻌㼛㼒㻌㼏㼛㼙㼜㼡㼠㼑㼐㻌 㼎㼥㻌 㼠㼔㼑㻌 㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌 㼙㼑㼠㼔㼛㼐㻌 㼛㼢㼑㼞㻌 㼠㼔㼑㻌 㼘㼑㼍㼟㼑㻌 㼠㼑㼞㼙㻌 㼣㼕㼠㼔㻌 㼦㼑㼞㼛㻌㼠㼔㼑㻌㼍㼟㼟㼑㼠㻚㻌㼀㼔㼑㻌㼑㼟㼠㼕㼙㼍㼠㼑㼐㻌㼡㼟㼑㼒㼡㼘㻌㼘㼕㼢㼑㼟㻌㼛㼒㻌㼎㼡㼕㼘㼐㼕㼚㼓㼟㻌㼍㼚㼐㻌㼟㼠㼞㼡㼏㼠㼡㼞㼑㼟㻌㼞㼍㼚㼓㼑㻌㼞㼑㼟㼕㼐㼡㼍㼘㻌 㼢㼍㼘㼡㼑㻚㻌 㻲㼕㼚㼍㼚㼏㼑㻌 㼘㼑㼍㼟㼑㼟㻌 㼛㼠㼔㼑㼞㻌 㼠㼔㼍㼚㻌 㼠㼔㼛㼟㼑㻌 㼠㼔㼍㼠㻌 㼍㼞㼑㻌 㼐㼑㼑㼙㼑㼐㻌 㼠㼛㻌㼒㼞㼛㼙㻌㻟㻌㼠㼛㻌㻢㻜㻌㼥㼑㼍㼞㼟㻌㼍㼚㼐㻌㼠㼔㼛㼟㼑㻌㼛㼒㻌㼙㼍㼏㼔㼕㼚㼑㼞㼥㻘㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌㼍㼚㼐㻌㼢㼑㼔㼕㼏㼘㼑㼟㻌㼒㼞㼛㼙㻌㼠㼞㼍㼚㼟㼒㼑㼞㻌 㼛㼣㼚㼑㼞㼟㼔㼕㼜㻌 㼛㼒㻌 㼠㼔㼑㻌 㼘㼑㼍㼟㼑㼐㻌 㼜㼞㼛㼜㼑㼞㼠㼥㻌 㼠㼛㻌 㼠㼔㼑㻌 㼘㼑㼟㼟㼑㼑㻌 㼍㼚㼐㻌 㼣㼔㼕㼏㼔㻌㻞㻌㼠㼛㻌㻝㻤㻌㼥㼑㼍㼞㼟㻚㻌 㻌㼏㼛㼙㼙㼑㼚㼏㼑㼐㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㼥㼑㼍㼞㼟㻌㼎㼑㼓㼕㼚㼚㼕㼚㼓㻌㼜㼞㼕㼛㼞㻌㼠㼛㻌㻶㼍㼚㼡㼍㼞㼥㻌㻝㻘㻌㻞㻜㻜㻥㻌㼏㼛㼚㼠㼕㼚㼡㼑㻌㼠㼛㻌㻔㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㼙㼑㼠㼔㼛㼐㻌㼛㼒㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼛㼒㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻕㻌㼎㼑㻌㼍㼏㼏㼛㼡㼚㼠㼑㼐㻌㼒㼛㼞㻌㼕㼚㻌㼍㻌㼣㼍㼥㻌㼠㼔㼍㼠㻌㼕㼟㻌㼟㼕㼙㼕㼘㼍㼞㻌㼠㼛㻌㼠㼔㼑㻌㼙㼑㼠㼔㼛㼐㻌㼡㼟㼑㼐㻌㼒㼛㼞㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㻼㼞㼑㼢㼕㼛㼡㼟㼘㼥㻘㻌㼠㼔㼑㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼛㼒㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻌㼛㼠㼔㼑㼞㻌㼠㼔㼍㼚㻌㼎㼡㼕㼘㼐㼕㼚㼓㼟㻌㼘㼑㼍㼟㼑㼟㻚㻌㼍㼠㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼚㼐㻌 㼠㼔㼞㼑㼑㻌 㼐㼛㼙㼑㼟㼠㼕㼏㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼣㼍㼟㻌㻔㼕㻕㻌㻭㼘㼘㼛㼣㼍㼚㼏㼑㻌㼒㼛㼞㻌㼐㼛㼡㼎㼠㼒㼡㼘㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟㻌㼍㼏㼏㼛㼡㼚㼠㼑㼐㻌㼒㼛㼞㻌㼎㼥㻌㼠㼔㼑㻌㼐㼑㼏㼘㼕㼚㼕㼚㼓㻙㼎㼍㼘㼍㼚㼏㼑㻌㼙㼑㼠㼔㼛㼐㻘㻌㼎㼡㼠㻌㼠㼔㼕㼟㻌㼣㼍㼟㻌㼏㼔㼍㼚㼓㼑㼐㻌㼠㼛㻌㼀㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼚㼐㻌 㼕㼠㼟㻌 㼐㼛㼙㼑㼟㼠㼕㼏㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼜㼞㼛㼢㼕㼐㼑㻌 㼒㼛㼞㻌 㼐㼛㼡㼎㼠㼒㼡㼘㻌㼠㼔㼑㻌㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌㼙㼑㼠㼔㼛㼐㻘㻌㼠㼔㼑㻌㼙㼑㼠㼔㼛㼐㻌㼡㼟㼑㼐㻌㼎㼥㻌㼠㼔㼑㻌㼛㼢㼑㼞㼟㼑㼍㼟㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼜㼞㼕㼚㼏㼕㼜㼍㼘㼘㼥㻌㼍㼠㻌㼍㼚㻌㼍㼙㼛㼡㼚㼠㻌㼏㼛㼙㼜㼡㼠㼑㼐㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼠㼔㼑㻌㼍㼏㼠㼡㼍㼘㻌㼞㼍㼠㼕㼛㻌㼛㼒㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼒㼞㼛㼙㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻚㻌㼎㼍㼐㻌㼐㼑㼎㼠㼟㻌㼕㼚㻌㼠㼔㼑㻌㼜㼍㼟㼠㻌㼜㼘㼡㼟㻌㼠㼔㼑㻌㼑㼟㼠㼕㼙㼍㼠㼑㼐㻌㼡㼚㼏㼛㼘㼘㼑㼏㼠㼕㼎㼘㼑㻌㼍㼙㼛㼡㼚㼠㼟㻌㼛㼒㻌㼏㼑㼞㼠㼍㼕㼚㻌㼀㼔㼕㼟㻌 㼏㼔㼍㼚㼓㼑㻌 㼣㼍㼟㻌 㼕㼙㼜㼘㼑㼙㼑㼚㼠㼑㼐㻌 㼙㼍㼕㼚㼘㼥㻌 㼒㼛㼞㻌 㼠㼣㼛㻌 㼞㼑㼍㼟㼛㼚㼟㻦㻌 㼠㼛㻌 㼡㼚㼕㼒㼥㻌 㼠㼔㼑㻌55

㼀㼔㼑㻌㼑㼒㼒㼑㼏㼠㻌㼛㼒㻌㼠㼔㼕㼟㻌㼏㼔㼍㼚㼓㼑㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻌㼣㼍㼟㻌㼍㻌㼐㼑㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌㻞㻟㻡㻌㼙㼕㼘㼘㼕㼛㼚㻌㻭㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼍㼢㼍㼕㼘㼍㼎㼘㼑㻌㼒㼍㼕㼞㻌㼙㼍㼞㼗㼑㼠㻌㼢㼍㼘㼡㼑㼟㻌㼍㼞㼑㻌㼟㼠㼍㼠㼑㼐㻌㼕㼚㼐㼕㼢㼕㼐㼡㼍㼘㻌 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟㻚㻌 㼀㼔㼑㻌 㼛㼢㼑㼞㼟㼑㼍㼟㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼜㼞㼛㼢㼕㼐㼑㻌 㼒㼛㼞㻌 㼐㼛㼡㼎㼠㼒㼡㼘㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼜㼞㼛㼏㼑㼟㼟㼑㼟㻌㼛㼒㻌㻴㻻㻾㻵㻮㻭㻌㼍㼚㼐㻌㼠㼛㻌㼑㼚㼟㼡㼞㼑㻌㼠㼔㼑㻌㼎㼑㼠㼠㼑㼞㻌㼙㼍㼠㼏㼔㼕㼚㼓㻌㼛㼒㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼑㼟㼠㼕㼙㼍㼠㼑㼟㻌㼙㼍㼐㼑㻌㼎㼥㻌㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻚㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌 㼑㼤㼜㼑㼚㼟㼑㻌 㼠㼛㻌 㼑㼍㼞㼚㼕㼚㼓㼟㻚㻌 㻲㼕㼞㼟㼠㻘㻌 㼕㼚㻌 㼠㼔㼑㻌 㼏㼍㼟㼑㻌 㼛㼒㻌 㼠㼔㼑㻌 㻹㼕㼐㻙㻸㼛㼚㼓㻌㻔㼖㻕㻌㻭㼏㼏㼞㼡㼑㼐㻌㼎㼛㼚㼡㼟㼑㼟㻌㼠㼛㻌㼑㼙㼜㼘㼛㼥㼑㼑㼟㻌㼀㼑㼞㼙㻌 㻹㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌 㻼㼘㼍㼚㻌 㼠㼔㼍㼠㻌 㼟㼠㼍㼞㼠㼑㼐㻌 㼕㼚㻌 㼒㼕㼟㼏㼍㼘㻌 㻞㻜㻝㻝㻘㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌㻭㼏㼏㼞㼡㼑㼐㻌㼎㼛㼚㼡㼟㼑㼟㻌㼠㼛㻌㼑㼙㼜㼘㼛㼥㼑㼑㼟㻌㼍㼞㼑㻌㼜㼞㼛㼢㼕㼐㼑㼐㻌㼒㼛㼞㻌㼠㼔㼑㻌㼑㼤㼜㼑㼏㼠㼑㼐㻌㼜㼍㼥㼙㼑㼚㼠㻌㼍㼐㼛㼜㼠㼑㼐㻌 㼠㼔㼑㻌 㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌 㼍㼚㼐㻌 㼏㼛㼙㼜㼘㼑㼠㼕㼛㼚㻌 㼛㼒㻌 䇾㻻㼚㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌㼛㼒㻌㼑㼙㼜㼘㼛㼥㼑㼑㻌㼎㼛㼚㼡㼟㼑㼟㻌㼒㼛㼞㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻌㼠㼛㻌㼠㼔㼛㼟㼑㻌㼑㼙㼜㼘㼛㼥㼑㼑㼟㻌㼑㼙㼜㼘㼛㼥㼑㼐㻌㼍㼠㻌㼠㼔㼑㻌㻹㼍㼚㼍㼓㼑㼙㼑㼚㼠䇿㻌㼍㼟㻌㼍㻌㼔㼕㼓㼔㻙㼜㼞㼕㼛㼞㼕㼠㼥㻌㼜㼛㼘㼕㼏㼥㻌㼠㼛㻌㼑㼚㼔㼍㼚㼏㼑㻌㼕㼠㼟㻌㼓㼘㼛㼎㼍㼘㻌㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻚㻌㼑㼚㼐㻌㼛㼒㻌㼠㼔㼑㻌㼒㼕㼟㼏㼍㼘㻌㼥㼑㼍㼞㻚㻌 㻌㻭㼟㻌㼜㼍㼞㼠㻌㼛㼒㻌㼠㼔㼕㼟㻘㻌㼍㻌㼡㼚㼕㼒㼕㼑㼐㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻌㼑㼢㼍㼘㼡㼍㼠㼕㼛㼚㻌㼟㼥㼟㼠㼑㼙㻌㼠㼔㼍㼠㻌㻔㼗㻕㻌㻭㼏㼏㼞㼡㼑㼐㻌㼎㼛㼚㼡㼟㼑㼟㻌㼠㼛㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼍㼡㼐㼕㼠㼛㼞㼟㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌 㼠㼔㼑㻌 㼛㼢㼑㼞㼟㼑㼍㼟㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼎㼑㼏㼍㼙㼑㻌 㼚㼑㼏㼑㼟㼟㼍㼞㼥㻚㻌㻿㼛㼙㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼜㼞㼛㼢㼕㼐㼑㻌㼒㼛㼞㻌㼍㼏㼏㼞㼡㼑㼐㻌㼎㼛㼚㼡㼟㼑㼟㻌㼠㼛㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㻿㼑㼏㼛㼚㼐㻘㻌㼍㼟㻌㼍㻌㼞㼑㼟㼡㼘㼠㻌㼛㼒㻌㼍㼚㻌㼕㼚㼢㼑㼟㼠㼕㼓㼍㼠㼕㼛㼚㻌㼕㼚㼠㼛㻌㼠㼔㼑㻌㼍㼏㼠㼡㼍㼘㻌㼡㼟㼑㻌㼛㼒㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼍㼚㼐㻌 㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌 㼍㼡㼐㼕㼠㼛㼞㼟㻌 㼒㼛㼞㻌 㼠㼔㼑㻌 㼑㼤㼜㼑㼏㼠㼑㼐㻌 㼜㼍㼥㼙㼑㼚㼠㻌 㼛㼒㻌 㼐㼕㼞㼑㼏㼠㼛㼞㻌 㼍㼚㼐㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻌㼍㼠㻌㻴㻻㻾㻵㻮㻭㻌㼍㼚㼐㻌㼠㼔㼑㻌㼒㼡㼠㼡㼞㼑㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌㼜㼘㼍㼚㼚㼑㼐㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌 㼍㼡㼐㼕㼠㼛㼞㻌 㼎㼛㼚㼡㼟㼑㼟㻌 㼒㼛㼞㻌 㼒㼕㼟㼏㼍㼘㻌 㻞㻜㻝㻞㻌 㼠㼛㻌 㼠㼔㼛㼟㼑㻌 㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌 㼍㼚㼐㻌㼡㼚㼐㼑㼞㻌㼠㼔㼑㻌㻹㼕㼐㻙㻸㼛㼚㼓㻌㼀㼑㼞㼙㻌㻹㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌㻼㼘㼍㼚㻘㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼏㼛㼚㼏㼘㼡㼐㼑㼐㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼍㼡㼐㼕㼠㼛㼞㼟㻌㼟㼑㼞㼢㼕㼚㼓㻌㼍㼠㻌㼠㼔㼑㻌㼑㼚㼐㻌㼛㼒㻌㼠㼔㼑㻌㼒㼕㼟㼏㼍㼘㻌㼥㼑㼍㼞㻚㻌㼠㼔㼍㼠㻌㼠㼔㼑㻌㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌㼙㼑㼠㼔㼛㼐㻌㼣㼛㼡㼘㼐㻌㼑㼚㼍㼎㼘㼑㻌㼑㼤㼜㼑㼚㼐㼕㼠㼡㼞㼑㻌㼠㼛㻌㼎㼑㻌㼍㼘㼘㼛㼏㼍㼠㼑㼐㻌㻔㼘㻕㻌㻾㼑㼟㼑㼞㼢㼑㻌㼒㼛㼞㻌㼜㼞㼛㼐㼡㼏㼠㻌㼣㼍㼞㼞㼍㼚㼠㼥㻌㼙㼛㼞㼑㻌㼏㼛㼚㼟㼕㼟㼠㼑㼚㼠㼘㼥㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼍㼏㼠㼡㼍㼘㻌㼡㼟㼑㻌㼛㼒㻌㼠㼔㼑㻌㼍㼟㼟㼑㼠㻚㻌㼀㼔㼑㻌 㼞㼑㼟㼑㼞㼢㼑㻌 㼒㼛㼞㻌 㼜㼞㼛㼐㼡㼏㼠㻌 㼣㼍㼞㼞㼍㼚㼠㼥㻌 㼕㼟㻌 㼜㼞㼛㼢㼕㼐㼑㼐㻌 㼒㼛㼞㻌 㼍㼏㼏㼞㼡㼑㼐㻌 㼣㼍㼞㼞㼍㼚㼠㼥㻌㼀㼔㼑㻌㼑㼒㼒㼑㼏㼠㻌㼛㼒㻌㼠㼔㼕㼟㻌㼏㼔㼍㼚㼓㼑㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻌㼣㼍㼟㻌㼍㼚㻌㼕㼚㼏㼞㼑㼍㼟㼑㻌㼛㼒㻌\㻡㻟㻣㻌㼙㼕㼘㼘㼕㼛㼚㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌 㼒㼛㼞㻌 㼜㼞㼛㼐㼡㼏㼠㼟㻌 㼛㼒㻌 㼠㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼚㼐㻌 㼏㼑㼞㼠㼍㼕㼚㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻚㻌 㼀㼔㼑㻌㻔㻐㻢㻘㻞㻜㻞㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻌㼕㼚㻌㼎㼛㼠㼔㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻌㼍㼚㼐㻌㼕㼚㼏㼛㼙㼑㻌㼎㼑㼒㼛㼞㼑㻌㼕㼚㼏㼛㼙㼑㻌㼜㼞㼛㼢㼕㼟㼕㼛㼚㻌㼕㼟㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼑㼟㼠㼕㼙㼍㼠㼑㼟㻌㼙㼍㼐㼑㻌㼒㼞㼛㼙㻌㼍㼏㼠㼡㼍㼘㻌㼜㼍㼟㼠㻌㼑㼤㼜㼑㼞㼕㼑㼚㼏㼑㻌㼍㼚㼐㻌㼠㼍㼤㼑㼟㻌㼍㼚㼐㻌㼙㼕㼚㼛㼞㼕㼠㼥㻌㼕㼚㼠㼑㼞㼑㼟㼠㼟㻚㻌㼜㼞㼛㼐㼡㼏㼠㻌㼣㼍㼞㼞㼍㼚㼠㼥㻌㼞㼑㼏㼛㼞㼐㼟㻌㼍㼚㼐㻌㼠㼍㼗㼑㼟㻌㼕㼚㼠㼛㻌㼍㼏㼏㼛㼡㼚㼠㻌㼕㼚㼐㼕㼢㼕㼐㼡㼍㼘㻌㼏㼍㼟㼑㼟㻚㻌㻔㼙㻕㻌㻾㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼍㼚㼐㻌㼜㼑㼚㼟㼕㼛㼚㻌㼜㼘㼍㼚㼟㻌㼒㼛㼞㼑㼕㼓㼚㻌 㼏㼡㼞㼞㼑㼚㼏㼥㻌 㼑㼤㼏㼔㼍㼚㼓㼑㻌 㼏㼛㼚㼠㼞㼍㼏㼠㼟㻌 㼠㼛㻌 㼙㼍㼚㼍㼓㼑㻌 㼞㼕㼟㼗㻌 㼞㼑㼘㼍㼠㼑㼐㻌 㼠㼛㻌 㼕㼠㼟㻌㼀㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼚㼐㻌 㼟㼛㼙㼑㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼜㼞㼛㼢㼕㼐㼑㻌 㼒㼛㼞㻌㼕㼙㼜㼛㼞㼠㼕㼚㼓㻌㼍㼚㼐㻌㼑㼤㼜㼛㼞㼠㼕㼚㼓㻌㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟㻚㻌㼀㼔㼑㻌㼡㼟㼑㻌㼛㼒㻌㼒㼛㼞㼑㼕㼓㼚㻌㼏㼡㼞㼞㼑㼚㼏㼥㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㼑㼙㼜㼘㼛㼥㼑㼑㼟䇻㻌 㼟㼑㼢㼑㼞㼍㼚㼏㼑㻌 㼍㼚㼐㻌 㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌 㼎㼑㼚㼑㼒㼕㼠㼟㻌 㼎㼍㼟㼑㼐㻌 㼛㼚㻌 㼑㼟㼠㼕㼙㼍㼠㼑㼐㻌㼏㼛㼚㼠㼞㼍㼏㼠㼟㻌 㼕㼟㻌 㼘㼕㼙㼕㼠㼑㼐㻌 㼠㼛㻌 㼠㼔㼑㻌 㼍㼙㼛㼡㼚㼠㼟㻌 㼛㼒㻌 㻴㻻㻾㻵㻮㻭䇻㼟㻌 㼒㼛㼞㼑㼕㼓㼚㻌 㼏㼡㼞㼞㼑㼚㼏㼥㻌㼍㼙㼛㼡㼚㼠㼟㻌㼛㼒㻌㼜㼞㼛㼖㼑㼏㼠㼑㼐㻌㼎㼑㼚㼑㼒㼕㼠㻌㼛㼎㼘㼕㼓㼍㼠㼕㼛㼚㻌㼍㼚㼐㻌㼠㼔㼑㻌㼒㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼜㼘㼍㼚㻌㼍㼟㼟㼑㼠㼟㻚㻌 㻌㼐㼑㼚㼛㼙㼕㼚㼍㼠㼑㼐㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟㻌㼍㼚㼐㻌㼜㼍㼥㼍㼎㼘㼑㼟㻚㻌㻴㻻㻾㻵㻮㻭㻌㼍㼘㼟㼛㻌㼡㼟㼑㼟㻌㼕㼚㼠㼑㼞㼑㼟㼠㻌㼞㼍㼠㼑㻌㻭㼏㼠㼡㼍㼞㼕㼍㼘㻌 㼓㼍㼕㼚㼟㻌 㼍㼚㼐㻌 㼘㼛㼟㼟㼑㼟㻌 㼍㼞㼑㻌 㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌 㼕㼚㻌 㼑㼤㼜㼑㼚㼟㼑㼟㻌 㼡㼟㼕㼚㼓㻌 㼠㼔㼑㻌㼟㼣㼍㼜㻌㼏㼛㼚㼠㼞㼍㼏㼠㼟㻌㼠㼛㻌㼍㼢㼛㼕㼐㻌㼠㼔㼑㻌㼞㼕㼟㼗㻌㼛㼒㻌㼞㼕㼟㼕㼚㼓㻌㼕㼚㼠㼑㼞㼑㼟㼠㻌㼞㼍㼠㼑㼟㻚㻌㻯㼛㼚㼠㼞㼍㼏㼠㼟㻌㼍㼞㼑㻌㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌㼙㼑㼠㼔㼛㼐㻌㼛㼢㼑㼞㻌㼍㻌㼒㼕㼤㼑㼐㻌㼠㼑㼞㼙㻌㼛㼒㻌㼥㼑㼍㼞㼟㻌㻔㻡㻌㼠㼛㻌㻤㻌㼥㼑㼍㼞㼟㻕㻘㻌㼣㼔㼕㼏㼔㻌㼕㼟㻌㼑㼚㼠㼑㼞㼑㼐㻌 㼕㼚㼠㼛㻌 㼍㼚㼐㻌㼏㼛㼚㼠㼞㼛㼘㼘㼑㼐㻌 㼎㼥㻌 㼠㼔㼑㻌 㼒㼕㼚㼍㼚㼏㼑㻌 㼐㼑㼜㼍㼞㼠㼙㼑㼚㼠㻘㻌 㼣㼔㼕㼏㼔㻌 㼞㼑㼜㼛㼞㼠㼟㻌㼣㼕㼠㼔㼕㼚㻌 㼠㼔㼑㻌 㼍㼢㼑㼞㼍㼓㼑㻌 㼛㼒㻌 㼠㼔㼑㻌 㼑㼟㼠㼕㼙㼍㼠㼑㼐㻌 㼞㼑㼙㼍㼕㼚㼕㼚㼓㻌 㼟㼑㼞㼢㼕㼏㼑㻌 㼥㼑㼍㼞㼟㻌 㼛㼒㻌㼞㼑㼟㼡㼘㼠㼟㻌㼠㼛㻌㼠㼔㼑㻌㼐㼕㼞㼑㼏㼠㼛㼞㻚㻌㼀㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻌㼕㼚㼢㼛㼘㼢㼕㼚㼓㻌㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼏㼛㼚㼠㼞㼍㼏㼠㼟㻌㼍㼞㼑㻌㼑㼙㼜㼘㼛㼥㼑㼑㼟㻘㻌㼏㼛㼙㼙㼑㼚㼏㼕㼚㼓㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻌㼜㼑㼞㼕㼛㼐㻚㻌㻵㼚㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼍㼚㼐㻌㼘㼕㼙㼕㼠㼑㼐㻌㼠㼛㻌㼔㼕㼓㼔㼘㼥㻌㼞㼍㼠㼑㼐㻌㼎㼍㼚㼗㼕㼚㼓㻌㼕㼚㼟㼠㼕㼠㼡㼠㼕㼛㼚㼟㻘㻌㼍㼚㼐㻌㻴㻻㻾㻵㻮㻭㻌㼏㼛㼚㼟㼕㼐㼑㼞㼟㻌㼠㼔㼍㼠㻌㼟㼛㼙㼑㻌 㼐㼛㼙㼑㼟㼠㼕㼏㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻘㻌 㼜㼞㼕㼛㼞㻌 㼟㼑㼞㼢㼕㼏㼑㻌 㼏㼛㼟㼠㼟㻌 㼍㼞㼑㻌㼠㼔㼑㼞㼑㻌㼍㼞㼑㻌㼚㼛㻌㼙㼍㼠㼑㼞㼕㼍㼘㻌㼏㼞㼑㼐㼕㼠㻌㼞㼕㼟㼗㼟㻌㼍㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㼣㼕㼠㼔㻌㼠㼔㼑㼙㻚㻌㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌㼕㼚㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㻌㼙㼑㼠㼔㼛㼐㻌㼛㼢㼑㼞㻌㼍㻌㼒㼕㼤㼑㼐㻌㼠㼑㼞㼙㻌㻔㼟㻕㻌㻾㼑㼟㼑㼍㼞㼏㼔㻌㼍㼚㼐㻌㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼛㼒㻌 㼥㼑㼍㼞㼟㻌 㻔㻝㻜㻌 㼥㼑㼍㼞㼟㻕㻘㻌 㼣㼔㼕㼏㼔㻌 㼕㼟㻌 㼣㼕㼠㼔㼕㼚㻌 㼠㼔㼑㻌 㼍㼢㼑㼞㼍㼓㼑㻌 㼛㼒㻌 㼠㼔㼑㻌 㼑㼟㼠㼕㼙㼍㼠㼑㼐㻌㻾㼑㼟㼑㼍㼞㼏㼔㻌 㼍㼚㼐㻌 㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌 㼑㼤㼜㼑㼚㼟㼑㼟㻌 㼍㼞㼑㻌 㼏㼔㼍㼞㼓㼑㼐㻌 㼠㼛㻌 㼕㼚㼏㼛㼙㼑㻌 㼣㼔㼑㼚㻌㼞㼑㼙㼍㼕㼚㼕㼚㼓㻌㼟㼑㼞㼢㼕㼏㼑㻌㼥㼑㼍㼞㼟㻌㼛㼒㻌㼑㼙㼜㼘㼛㼥㼑㼑㼟㻘㻌㼏㼛㼙㼙㼑㼚㼏㼕㼚㼓㻌㼕㼚㻌㼠㼔㼑㻌㼜㼑㼞㼕㼛㼐㻌㼠㼔㼑㼥㻌㼕㼚㼏㼡㼞㼞㼑㼐㻚㻌㻾㼑㼟㼑㼍㼞㼏㼔㻌㼍㼚㼐㻌㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼏㼔㼍㼞㼓㼑㼐㻌㼠㼛㻌㼕㼚㼏㼛㼙㼑㻌㼒㼛㼞㻌㼍㼞㼕㼟㼑㻚㻌㻵㼚㻌㼟㼛㼙㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻘㻌㼠㼔㼑㼥㻌㼍㼞㼑㻌㼑㼤㼜㼑㼚㼟㼑㼐㻌㼍㼟㻌㼕㼚㼏㼡㼞㼞㼑㼐㻚㻌㼒㼕㼟㼏㼍㼘㻌 㻞㻜㻝㻝㻌 㼍㼚㼐㻌 㼒㼕㼟㼏㼍㼘㻌 㻞㻜㻝㻞㻌 㼣㼑㼞㼑㻌 \㻝㻜㻘㻜㻢㻜㻌 㼙㼕㼘㼘㼕㼛㼚㻌 㼍㼚㼐㻌 \㻝㻜㻘㻜㻥㻞㻌 㼙㼕㼘㼘㼕㼛㼚㻌㻔㼚㻕㻌㻾㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼒㼛㼞㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼍㼡㼐㼕㼠㼛㼞㼟㻌㻔㻐㻝㻝㻢㻘㻡㻢㻞㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚㻌㻿㼛㼙㼑㻌 㼐㼛㼙㼑㼟㼠㼕㼏㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼍㼏㼏㼞㼡㼑㻌 㼍㼚㻌 㼍㼙㼛㼡㼚㼠㻌 㼒㼛㼞㻌㻔㼠㻕㻌㻵㼚㼏㼛㼙㼑㻌㼠㼍㼤㼑㼟㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼒㼛㼞㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼍㼡㼐㼕㼠㼛㼞㼟㻌㼍㼠㻌㼠㼔㼑㻌㼎㼍㼘㼍㼚㼏㼑㻌㻵㼚㼏㼛㼙㼑㻌㼠㼍㼤㼑㼟㻌㼏㼛㼙㼜㼞㼕㼟㼑㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼠㼍㼤㻘㻌㼑㼚㼠㼑㼞㼜㼞㼕㼟㼑㻌㼠㼍㼤㻌㼍㼚㼐㻌㼜㼞㼑㼒㼑㼏㼠㼡㼞㼍㼘㻌㼍㼚㼐㻌㼟㼔㼑㼑㼠㻌㼐㼍㼠㼑㻌㼎㼍㼟㼑㼐㻌㼡㼜㼛㼚㻌㼕㼚㼠㼑㼞㼚㼍㼘㻌㼞㼡㼘㼑㼟㻚㻌 㻌㼙㼡㼚㼕㼏㼕㼜㼍㼘㻌㼕㼚㼔㼍㼎㼕㼠㼍㼚㼠㼟㻌㼠㼍㼤㼑㼟㻚㻌㻴㻻㻾㻵㻮㻭㻌 㼞㼑㼏㼛㼓㼚㼕㼦㼑㼟㻌 㼠㼔㼑㻌 㼠㼍㼤㻌 㼑㼒㼒㼑㼏㼠㼟㻌 㼛㼒㻌 㼘㼛㼟㼟㻌 㼏㼍㼞㼞㼥㼒㼛㼞㼣㼍㼞㼐㼟㻌 㼍㼚㼐㻌 㼠㼔㼑㻌㻔㼛㻕㻌㻼㼞㼛㼢㼕㼟㼕㼛㼚㻌㼒㼛㼞㻌㼏㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼘㼛㼟㼟㼑㼟㻌㻼㼞㼛㼢㼕㼟㼕㼛㼚㻌㼕㼟㻌㼙㼍㼐㼑㻌㼒㼛㼞㻌㼜㼛㼠㼑㼚㼠㼕㼍㼘㻌㼘㼛㼟㼟㼑㼟㻌㼍㼞㼕㼟㼕㼚㼓㻌㼒㼞㼛㼙㻌㼜㼍㼥㼕㼚㼓㻌㼏㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼠㼑㼙㼜㼛㼞㼍㼞㼥㻌 㼐㼕㼒㼒㼑㼞㼑㼚㼏㼑㼟㻌 㼎㼑㼠㼣㼑㼑㼚㻌 㼠㼔㼑㻌 㼏㼍㼞㼞㼥㼕㼚㼓㻌 㼍㼙㼛㼡㼚㼠㼟㻌 㼛㼒㻌 㼍㼟㼟㼑㼠㼟㻌 㼍㼚㼐㻌㼒㼛㼞㻌㼐㼍㼙㼍㼓㼑㼟㻚㻌㻵㼠㻌㼕㼟㻌㼜㼞㼛㼢㼕㼐㼑㼐㻌㼒㼛㼞㻌㼜㼛㼠㼑㼚㼠㼕㼍㼘㻌㼏㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼒㼛㼞㻌㼐㼍㼙㼍㼓㼑㼟㻌㼠㼛㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌㼒㼛㼞㻌㼠㼍㼤㻌㼍㼚㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼞㼑㼜㼛㼞㼠㼕㼚㼓㻚㻌㼀㼔㼑㻌㼜㼞㼛㼢㼕㼟㼕㼛㼚㻌㼒㼛㼞㻌㼏㼡㼞㼞㼑㼚㼠㻌㼕㼚㼏㼛㼙㼑㻌㼘㼛㼏㼍㼘㻌㼜㼡㼎㼘㼕㼏㻌㼍㼓㼑㼚㼏㼕㼑㼟㻌㼍㼚㼐㻌㼘㼕㼠㼕㼓㼍㼠㼕㼛㼚㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼠㼔㼍㼠㻌㼏㼍㼚㻌㼎㼑㻌㼍㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㼣㼕㼠㼔㻌㼠㼍㼤㻌㼕㼟㻌㼏㼛㼙㼜㼡㼠㼑㼐㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼠㼔㼑㻌㼜㼞㼑㼠㼍㼤㻌㼕㼚㼏㼛㼙㼑㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼍㼚㻌㼕㼚㼒㼞㼕㼚㼓㼑㼙㼑㼚㼠㻌㼛㼒㻌㼠㼔㼑㻌㻭㼚㼠㼕㼙㼛㼚㼛㼜㼛㼘㼥㻌㻸㼍㼣㻚㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌㼛㼒㻌㼕㼚㼏㼛㼙㼑㻚㻌㼀㼔㼑㻌㼍㼟㼟㼑㼠㻛㼘㼕㼍㼎㼕㼘㼕㼠㼥㻌㼍㼜㼜㼞㼛㼍㼏㼔㻌㼕㼟㻌㼡㼟㼑㼐㻌㼠㼛㻌㼞㼑㼏㼛㼓㼚㼕㼦㼑㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻌㻔㼜㻕㻌㻿㼍㼘㼑㼟㻌㼍㼚㼐㻌㼏㼛㼟㼠㼟㻌㼛㼒㻌㼏㼛㼙㼜㼘㼑㼠㼑㼐㻌㼏㼛㼚㼟㼠㼞㼡㼏㼠㼕㼛㼚㻌㻿㼍㼘㼑㼟㻌 㼍㼚㼐㻌 㼏㼛㼟㼠㼟㻌 㼛㼒㻌 㼏㼛㼙㼜㼘㼑㼠㼑㼐㻌 㼏㼛㼚㼟㼠㼞㼡㼏㼠㼕㼛㼚㻌 㼣㼑㼞㼑㻌 㼞㼑㼏㼛㼞㼐㼑㼐㻌 㼡㼟㼕㼚㼓㻌 㼠㼔㼑㻌㼍㼚㼐㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌㼒㼛㼞㻌㼠㼔㼑㻌㼑㼤㼜㼑㼏㼠㼑㼐㻌㼒㼡㼠㼡㼞㼑㻌㼠㼍㼤㻌㼏㼛㼚㼟㼑㼝㼡㼑㼚㼏㼑㼟㻌㼛㼒㻌㼠㼑㼙㼜㼛㼞㼍㼞㼥㻌㼜㼑㼞㼏㼑㼚㼠㼍㼓㼑㻌㼛㼒㻌㼏㼛㼙㼜㼘㼑㼠㼕㼛㼚㻌㼙㼑㼠㼔㼛㼐㻌㼣㼔㼑㼚㻌㼠㼔㼑㻌㼜㼞㼛㼓㼞㼑㼟㼟㻌㼛㼒㻌㼠㼔㼑㻌㼏㼛㼚㼟㼠㼞㼡㼏㼠㼕㼛㼚㻌㼐㼕㼒㼒㼑㼞㼑㼚㼏㼑㼟㻌 㼎㼑㼠㼣㼑㼑㼚㻌 㼠㼔㼑㻌 㼏㼍㼞㼞㼥㼕㼚㼓㻌 㼍㼙㼛㼡㼚㼠㼟㻌 㼛㼒㻌 㼍㼟㼟㼑㼠㼟㻌 㼍㼚㼐㻌 㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌 㼒㼛㼞㻌㼡㼜㻌㼠㼛㻌㼠㼔㼑㻌㼑㼚㼐㻌㼛㼒㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻌㼣㼍㼟㻌㼐㼑㼑㼙㼑㼐㻌㼠㼛㻌㼎㼑㻌㼏㼑㼞㼠㼍㼕㼚㻌㻔㼑㼟㼠㼕㼙㼍㼠㼑㼟㻌㼛㼒㻌㼠㼔㼑㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼞㼑㼜㼛㼞㼠㼕㼚㼓㻌 㼜㼡㼞㼜㼛㼟㼑㼟㻌 㼍㼚㼐㻌 㼠㼔㼑㻌 㼍㼙㼛㼡㼚㼠㼟㻌 㼡㼟㼑㼐㻌 㼒㼛㼞㻌 㼕㼚㼏㼛㼙㼑㻌 㼠㼍㼤㻌㼞㼍㼠㼕㼛㻌㼛㼒㻌㼏㼛㼙㼜㼘㼑㼠㼕㼛㼚㻌㼛㼒㻌㼏㼛㼚㼟㼠㼞㼡㼏㼠㼕㼛㼚㻌㼣㼛㼞㼗㻌㼍㼞㼑㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼠㼔㼑㻌㼏㼛㼟㼠㻙㼠㼛㻙㼏㼛㼟㼠㻌㼜㼡㼞㼜㼛㼟㼑㼟㻚㻌 㻌㼙㼑㼠㼔㼛㼐㻕㻚㻌 㻵㼚㻌 㼠㼔㼑㻌 㼏㼍㼟㼑㻌 㼛㼒㻌 㼛㼠㼔㼑㼞㻌 㼏㼛㼚㼟㼠㼞㼡㼏㼠㼕㼛㼚㻘㻌 㼟㼍㼘㼑㼟㻌 㼍㼚㼐㻌 㼏㼛㼟㼠㼟㻌 㼣㼑㼞㼑㻌㼀㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼍㼚㼐㻌 㼕㼠㼟㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼐㼛㼙㼑㼟㼠㼕㼏㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼔㼍㼢㼑㻌㼞㼑㼏㼛㼞㼐㼑㼐㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼏㼛㼙㼜㼘㼑㼠㼑㼐㻌㼏㼛㼚㼠㼞㼍㼏㼠㻌㼙㼑㼠㼔㼛㼐㻚㻌㼍㼐㼛㼜㼠㼑㼐㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼠㼍㼤㼍㼠㼕㼛㼚㻌㼟㼥㼟㼠㼑㼙㻚㻌㻔㼝㻕㻌㻲㼛㼞㼑㼕㼓㼚㻌㼏㼡㼞㼞㼑㼚㼏㼥㻌㼠㼞㼍㼚㼟㼘㼍㼠㼕㼛㼚㻌㻔㼡㻕㻌㻼㼑㼞㻌㼟㼔㼍㼞㼑㻌㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㻿㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌㼍㼚㼐㻌㼘㼛㼚㼓㻙㼠㼑㼞㼙㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟㻌㼍㼚㼐㻌㼜㼍㼥㼍㼎㼘㼑㼟㻌㼕㼚㻌㼒㼛㼞㼑㼕㼓㼚㻌㼏㼡㼞㼞㼑㼚㼏㼕㼑㼟㻌㼀㼔㼑㻌㼏㼛㼙㼜㼡㼠㼍㼠㼕㼛㼚㼟㻌㼛㼒㻌㼚㼑㼠㻌㼕㼚㼏㼛㼙㼑㻌㼜㼑㼞㻌㼟㼔㼍㼞㼑㻌㼍㼞㼑㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼠㼔㼑㻌㼣㼑㼕㼓㼔㼠㼑㼐㻌㼍㼞㼑㻌 㼠㼞㼍㼚㼟㼘㼍㼠㼑㼐㻌 㼕㼚㼠㼛㻌 㻶㼍㼜㼍㼚㼑㼟㼑㻌 㼥㼑㼚㻌 㼎㼍㼟㼑㼐㻌 㼛㼚㻌 㼑㼤㼏㼔㼍㼚㼓㼑㻌 㼞㼍㼠㼑㼟㻌 㼍㼠㻌 㼠㼔㼑㻌㼍㼢㼑㼞㼍㼓㼑㻌 㼚㼡㼙㼎㼑㼞㻌 㼛㼒㻌 㼟㼔㼍㼞㼑㼟㻌 㼛㼒㻌 㼏㼛㼙㼙㼛㼚㻌 㼟㼠㼛㼏㼗㻌 㼛㼡㼠㼟㼠㼍㼚㼐㼕㼚㼓㻌 㼐㼡㼞㼕㼚㼓㻌 㼑㼍㼏㼔㻌㼎㼍㼘㼍㼚㼏㼑㻌㼟㼔㼑㼑㼠㻌㼐㼍㼠㼑㻚㻌㼜㼑㼞㼕㼛㼐㻚㻌㼀㼔㼑㻌㼣㼑㼕㼓㼔㼠㼑㼐㻌㼍㼢㼑㼞㼍㼓㼑㻌㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻌㼛㼒㻌㼏㼛㼙㼙㼛㼚㻌㼟㼠㼛㼏㼗㻌㼡㼟㼑㼐㻌㻮㼍㼘㼍㼚㼏㼑㻌 㼟㼔㼑㼑㼠㻌 㼍㼏㼏㼛㼡㼚㼠㼟㻌 㼛㼒㻌 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌 㼒㼛㼞㼑㼕㼓㼚㻌 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌 㼍㼞㼑㻌㼕㼚㻌㼠㼔㼑㻌㼏㼛㼙㼜㼡㼠㼍㼠㼕㼛㼚㻌㼒㼛㼞㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻌㼣㼍㼟㻌㻠㻞㻘㻞㻥㻟㻌㼠㼔㼛㼡㼟㼍㼚㼐㻌㼠㼞㼍㼚㼟㼘㼍㼠㼑㼐㻌 㼕㼚㼠㼛㻌 㻶㼍㼜㼍㼚㼑㼟㼑㻌 㼥㼑㼚㻌 㼍㼠㻌 㼠㼔㼑㻌 㼎㼍㼘㼍㼚㼏㼑㻌 㼟㼔㼑㼑㼠㻌 㼐㼍㼠㼑㻘㻌 㼑㼤㼏㼑㼜㼠㻌 㼒㼛㼞㻌㼍㼚㼐㻌 㻠㻞㻘㻞㻥㻣㻌 㼠㼔㼛㼡㼟㼍㼚㼐㻘㻌 㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚㻌 㻌 㻰㼕㼘㼡㼠㼑㼐㻌 㼚㼑㼠㻌 㼕㼚㼏㼛㼙㼑㻌 㼜㼑㼞㻌 㼟㼔㼍㼞㼑㻌 㼛㼒㻌㼟㼔㼍㼞㼑㼔㼛㼘㼐㼑㼞㼟䇻㻌㼑㼝㼡㼕㼠㼥㻌㼍㼏㼏㼛㼡㼚㼠㼟㻘㻌㼣㼔㼕㼏㼔㻌㼍㼞㼑㻌㼠㼞㼍㼚㼟㼘㼍㼠㼑㼐㻌㼍㼠㻌㼔㼕㼟㼠㼛㼞㼕㼏㼍㼘㻌㼞㼍㼠㼑㼟㻚㻌㼏㼛㼙㼙㼛㼚㻌㼟㼠㼛㼏㼗㻌㼍㼟㼟㼡㼙㼑㼟㻌㼒㼡㼘㼘㻌㼏㼛㼚㼢㼑㼞㼟㼕㼛㼚㻌㼛㼒㻌㼐㼕㼘㼡㼠㼕㼢㼑㻌㼏㼛㼚㼢㼑㼞㼠㼕㼎㼘㼑㻌㼎㼛㼚㼐㼟㻌㼍㼠㻌㻾㼑㼢㼑㼚㼡㼑㻌㼍㼚㼐㻌㼑㼤㼜㼑㼚㼟㼑㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼛㼒㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼛㼞㼑㼕㼓㼚㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼍㼞㼑㻌㼠㼔㼑㻌 㼎㼑㼓㼕㼚㼚㼕㼚㼓㻌 㼛㼒㻌 㼠㼔㼑㻌 㼥㼑㼍㼞㻌 㼛㼞㻌 㼍㼠㻌 㼠㼔㼑㻌 㼘㼍㼠㼑㼞㻌 㼐㼍㼠㼑㻌 㼛㼒㻌 㼕㼟㼟㼡㼍㼚㼏㼑㻘㻌 㼣㼕㼠㼔㻌 㼍㼚㻌㼠㼞㼍㼚㼟㼘㼍㼠㼑㼐㻌 㼕㼚㼠㼛㻌 㻶㼍㼜㼍㼚㼑㼟㼑㻌 㼥㼑㼚㻌 㼍㼠㻌 㼍㼢㼑㼞㼍㼓㼑㻌 㼍㼚㼚㼡㼍㼘㻌 㼑㼤㼏㼔㼍㼚㼓㼑㻌 㼞㼍㼠㼑㼟㻚㻌㼍㼜㼜㼘㼕㼏㼍㼎㼘㼑㻌㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㻌㼒㼛㼞㻌㼞㼑㼘㼍㼠㼑㼐㻌㼕㼚㼠㼑㼞㼑㼟㼠㻌㼑㼤㼜㼑㼚㼟㼑㻘㻌㼚㼑㼠㻌㼛㼒㻌㼠㼍㼤㻌㼍㼚㼐㻌㼐㼕㼘㼡㼠㼕㼢㼑㻌㻰㼕㼒㼒㼑㼞㼑㼚㼏㼑㼟㻌㼍㼞㼕㼟㼕㼚㼓㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌㼍㼜㼜㼘㼕㼏㼍㼠㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㼜㼞㼛㼏㼑㼟㼟㻌㼟㼠㼍㼠㼑㼐㻌㼍㼎㼛㼢㼑㻌㼍㼞㼑㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㻌㼜㼘㼍㼚㼟㻚㻌㼀㼔㼑㻌㼣㼑㼕㼓㼔㼠㼑㼐㻌㼍㼢㼑㼞㼍㼓㼑㻌㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻌㼡㼟㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼜㼞㼑㼟㼑㼚㼠㼑㼐㻌㼟㼑㼜㼍㼞㼍㼠㼑㼘㼥㻌㼕㼚㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌㼕㼚㻌䇾㻲㼛㼞㼑㼕㼓㼚㻌㼏㼛㼙㼜㼡㼠㼍㼠㼕㼛㼚㻌㼒㼛㼞㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻌㼣㼍㼟㻌㻠㻞㻘㻟㻤㻥㻌㼠㼔㼛㼡㼟㼍㼚㼐㻌㼍㼚㼐㻌㼏㼡㼞㼞㼑㼚㼏㼥㻌 㼠㼞㼍㼚㼟㼘㼍㼠㼕㼛㼚㻌 㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㼟䇿㻌 㼍㼚㼐㻌 䇾㻹㼕㼚㼛㼞㼕㼠㼥㻌 㼕㼚㼠㼑㼞㼑㼟㼠㼟㻌 㼕㼚㻌㻠㻞㻘㻠㻝㻤㻌㼠㼔㼛㼡㼟㼍㼚㼐㻘㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚㻌㻯㼍㼟㼔㻌㼐㼕㼢㼕㼐㼑㼚㼐㼟㻌㼜㼑㼞㻌㼟㼔㼍㼞㼑㻌㼟㼔㼛㼣㼚㻌㼕㼚㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻌㼛㼒㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟䇿㻌㼕㼚㻌㼚㼑㼠㻌㼍㼟㼟㼑㼠㼟㻚㻌㻔㼞㻕㻌㻰㼑㼞㼕㼢㼍㼠㼕㼢㼑㼟㻌 㻌 㻌㼕㼚㼏㼛㼙㼑㻌㼞㼑㼜㼞㼑㼟㼑㼚㼠㻌㼍㼏㼠㼡㼍㼘㻌㼍㼙㼛㼡㼚㼠㼟㻌㼍㼜㼜㼘㼕㼏㼍㼎㼘㼑㻌㼠㼛㻌㼑㼍㼞㼚㼕㼚㼓㼟㻌㼕㼚㻌㼠㼔㼑㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㻌㻰㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㼍㼞㼑㻌㼟㼠㼍㼠㼑㼐㻌㼍㼠㻌㼒㼍㼕㼞㻌㼢㼍㼘㼡㼑㻘㻌㼍㼚㼐㻌㼏㼔㼍㼚㼓㼑㼟㻌㼕㼚㻌㼒㼕㼟㼏㼍㼘㻌㼥㼑㼍㼞㻘㻌㼕㼚㼏㼘㼡㼐㼕㼚㼓㻌㼐㼕㼢㼕㼐㼑㼚㼐㼟㻌㼠㼛㻌㼎㼑㻌㼜㼍㼕㼐㻌㼍㼒㼠㼑㼞㻌㼠㼔㼑㻌㼑㼚㼐㻌㼛㼒㻌㼠㼔㼑㻌㼜㼑㼞㼕㼛㼐㻚㻌㼠㼔㼑㻌㼒㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼍㼞㼑㻌㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌㼍㼟㻌㼓㼍㼕㼚㼟㻌㼛㼞㻌㼘㼛㼟㼟㼑㼟㻘㻌㼡㼚㼘㼑㼟㼟㻌㼠㼔㼑㻌㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌 㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌 㼍㼞㼑㻌 㼡㼟㼑㼐㻌 㼒㼛㼞㻌 㼔㼑㼐㼓㼕㼚㼓㻌 㼜㼡㼞㼜㼛㼟㼑㼟㻚㻌 㻴㻻㻾㻵㻮㻭㻌 㼡㼟㼑㼟㻌㻌
Annual Report 2012 | 56

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻟㻚㻌㻭㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼟㼠㼍㼚㼐㼍㼞㼐㼟㻌㼕㼟㼟㼡㼑㼐㻌㼎㼡㼠㻌㼚㼛㼠㻌㼥㼑㼠㻌㼑㼒㼒㼑㼏㼠㼕㼢㼑㻌䇾㻭㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㻿㼠㼍㼚㼐㼍㼞㼐㻌㼒㼛㼞㻌㻾㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㻮㼑㼚㼑㼒㼕㼠㼟䇿㻌㻔㻭㻿㻮㻶㻌㻿㼠㼍㼠㼑㼙㼑㼚㼠㻌㻺㼛㻚㻌㻞㻢㻘㻌㼕㼟㼟㼡㼑㼐㻌㼛㼚㻌㻹㼍㼥㻌㻝㻣㻘㻌㻞㻜㻝㻞㻕㻌㼍㼚㼐㻌䇾㻳㼡㼕㼐㼍㼚㼏㼑㻌㼛㼚㻌㻭㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㻿㼠㼍㼚㼐㼍㼞㼐㻌㼒㼛㼞㻌㻾㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㻮㼑㼚㼑㼒㼕㼠㼟䇿㻌㻔㻭㻿㻮㻶㻌㻳㼡㼕㼐㼍㼚㼏㼑㻌㻺㼛㻚㻌㻞㻡㻘㻌㼕㼟㼟㼡㼑㼐㻌㼛㼚㻌㻹㼍㼥㻌㻝㻣㻘㻌㻞㻜㻝㻞㻕㻌㻔㼍㻕㻌㻻㼢㼑㼞㼢㼕㼑㼣㻌㼃㼕㼠㼔㻌㼍㻌㼢㼕㼑㼣㼜㼛㼕㼚㼠㻌㼛㼒㻌㼕㼙㼜㼞㼛㼢㼕㼚㼓㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼞㼑㼜㼛㼞㼠㼕㼚㼓㻌㼍㼚㼐㻌㼕㼚㻌㼏㼛㼚㼟㼕㼐㼑㼞㼍㼠㼕㼛㼚㻌㼛㼒㻌㼕㼚㼠㼑㼞㼚㼍㼠㼕㼛㼚㼍㼘㻌 㼠㼞㼑㼚㼐㼟㻘㻌 㼍㼜㼜㼘㼕㼏㼍㼠㼕㼛㼚㻌 㼛㼒㻌 㼠㼔㼑㼟㼑㻌 㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌 㼟㼠㼍㼚㼐㼍㼞㼐㼟㻌 㼕㼟㻌㼕㼚㼠㼑㼚㼐㼑㼐㻌㼠㼛㻌㼕㼙㼜㼞㼛㼢㼑㻌㼠㼔㼑㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼙㼑㼠㼔㼛㼐㻌㼒㼛㼞㻌㼍㼏㼠㼡㼍㼞㼕㼍㼘㻌㼓㼍㼕㼚㼟㻌㼍㼚㼐㻌㼘㼛㼟㼟㼑㼟㻌㼍㼚㼐㻌㼜㼍㼟㼠㻌㼟㼑㼞㼢㼕㼏㼑㻌㼏㼛㼟㼠㼟㻌㼠㼔㼍㼠㻌㼍㼞㼑㻌㼥㼑㼠㻌㼠㼛㻌㼎㼑㻌㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌㼍㼚㼐㻌㼠㼔㼑㻌㼙㼑㼠㼔㼛㼐㻌㼛㼒㻌㼏㼍㼘㼏㼡㼘㼍㼠㼕㼛㼚㻌㼒㼛㼞㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㻌㼛㼎㼘㼕㼓㼍㼠㼕㼛㼚㼟㻌㼍㼚㼐㻌㼟㼑㼞㼢㼕㼏㼑㻌㼏㼛㼟㼠㻌㼍㼚㼐㻌㼑㼤㼜㼍㼚㼐㻌㼐㼕㼟㼏㼘㼛㼟㼡㼞㼑㻚㻌 㻌㻔㼎㻕㻌㻰㼍㼠㼑㻌㼛㼒㻌㼍㼜㼜㼘㼕㼏㼍㼠㼕㼛㼚㻌㼀㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼣㼕㼘㼘㻌㼍㼜㼜㼘㼥㻌㼠㼔㼕㼟㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼟㼠㼍㼚㼐㼍㼞㼐㻌㼑㼒㼒㼑㼏㼠㼕㼢㼑㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌㼑㼚㼐㻌㼛㼒㻌㼒㼕㼟㼏㼍㼘㻌㼥㼑㼍㼞㻌㼎㼑㼓㼕㼚㼚㼕㼚㼓㻌㼛㼚㻌㼛㼞㻌㼍㼒㼠㼑㼞㻌㻶㼍㼚㼡㼍㼞㼥㻌㻝㻘㻌㻞㻜㻝㻠㻚㻌㻔㼏㻕㻌㻱㼒㼒㼑㼏㼠㻌㼛㼒㻌㼍㼜㼜㼘㼥㼕㼚㼓㻌㼠㼔㼑㼟㼑㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼟㼠㼍㼚㼐㼍㼞㼐㼟㻌㼀㼔㼑㻌 㻯㼛㼙㼜㼍㼚㼥㻌 㼕㼟㻌 㼏㼡㼞㼞㼑㼚㼠㼘㼥㻌 㼑㼢㼍㼘㼡㼍㼠㼕㼚㼓㻌 㼠㼔㼑㻌 㼑㼒㼒㼑㼏㼠㻌 㼛㼒㻌 㼍㼜㼜㼘㼥㼕㼚㼓㻌 㼠㼔㼑㼟㼑㻌㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼟㼠㼍㼚㼐㼍㼞㼐㼟㻌㼛㼚㻌㼕㼠㼟㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻚㻌 㻌57㻠㻚㻌㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻔㻝㻕㻌㻻㼢㼑㼞㼢㼕㼑㼣㻌㼛㼒㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻹㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌㼜㼛㼘㼕㼏㼥㻴㻻㻾㻵㻮㻭 㼏㼍㼞㼞㼕㼑㼟 㼛㼡㼠 㼒㼡㼚㼐 㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠 㼣㼕㼠㼔 㼍㼚 㼑㼙㼜㼔㼍㼟㼕㼟 㼛㼚 㼟㼑㼏㼡㼞㼕㼠㼥 㼍㼚㼐 㼜㼞㼛㼏㼡㼞㼑㼟 㼒㼡㼚㼐㼟 㼙㼍㼕㼚㼘㼥 㼠㼔㼞㼛㼡㼓㼔 㼎㼍㼚㼗 㼎㼛㼞㼞㼛㼣㼕㼚㼓㼟 㼍㼚㼐 㼎㼛㼚㼐㼕㼟㼟㼡㼍㼚㼏㼑㼟㻚 㻰㼑㼞㼕㼢㼍㼠㼕㼢㼑㼟 㼍㼞㼑 㼡㼟㼑㼐 㼠㼛 㼙㼍㼚㼍㼓㼑 㼒㼛㼞㼑㼕㼓㼚 㼑㼤㼏㼔㼍㼚㼓㼑 㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚 㼞㼕㼟㼗 㼍㼚㼐 㼕㼚㼠㼑㼞㼑㼟㼠 㼞㼍㼠㼑 㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚 㼞㼕㼟㼗 㼕㼚 㼙㼛㼚㼑㼠㼍㼞㼥 㼏㼞㼑㼐㼕㼠㼟㼍㼚㼐 㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟 㼞㼑㼘㼍㼠㼑㼐 㼠㼛 㼒㼛㼞㼑㼕㼓㼚 㼏㼡㼞㼞㼑㼚㼏㼥㻙㼐㼑㼚㼛㼙㼕㼚㼍㼠㼑㼐 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻘 㼍㼚㼐 㼕㼠 㼕㼟 㻴㻻㻾㻵㻮㻭㻓㼟 㼜㼛㼘㼕㼏㼥 㼚㼛㼠 㼠㼛 㼑㼚㼓㼍㼓㼑 㼕㼚 㼟㼜㼑㼏㼡㼘㼍㼠㼕㼢㼑㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻚㻲㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻘㻌㼞㼕㼟㼗㼟㻌㼍㼚㼐㻌㼞㼕㼟㼗㻌㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻺㼛㼠㼑㼟 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑 㼍㼚㼐 㼍㼏㼏㼛㼡㼚㼠㼟 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㻘 㼣㼔㼕㼏㼔 㼍㼞㼑 㼛㼜㼑㼞㼍㼠㼕㼚㼓 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟㻘 㼍㼞㼑 㼑㼤㼜㼛㼟㼑㼐 㼠㼛 㼠㼔㼑 㼏㼞㼑㼐㼕㼠 㼞㼕㼟㼗 㼛㼒 㼏㼡㼟㼠㼛㼙㼑㼞㼟㻚 㻴㻻㻾㻵㻮㻭㼑㼚㼐㼑㼍㼢㼛㼞㼟 㼠㼛 㼞㼑㼐㼡㼏㼑 㼠㼔㼕㼟 㼞㼕㼟㼗 㼎㼥 㼏㼛㼚㼐㼡㼏㼠㼕㼚㼓 㼐㼡㼑 㼐㼍㼠㼑 㼏㼛㼚㼠㼞㼛㼘 㼍㼚㼐 㼎㼍㼘㼍㼚㼏㼑 㼏㼛㼚㼠㼞㼛㼘 㼍㼚㼐 㼎㼥 㼍㼠㼠㼑㼙㼜㼠㼕㼚㼓 㼠㼛 㼜㼞㼛㼙㼜㼠㼘㼥 㼞㼑㼏㼛㼓㼚㼕㼦㼑㼏㼛㼘㼘㼑㼏㼠㼕㼛㼚㻌㼏㼛㼚㼏㼑㼞㼚㼟㻌㼟㼠㼑㼙㼙㼕㼚㼓㻌㼒㼞㼛㼙㻌㼟㼡㼏㼔㻌㼒㼍㼏㼠㼛㼞㼟㻌㼍㼟㻌㼍㻌㼐㼑㼠㼑㼞㼕㼛㼞㼍㼠㼕㼛㼚㻌㼕㼚㻌㼠㼔㼑㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼛㼒㻌㼍㻌㼏㼡㼟㼠㼛㼙㼑㼞㻚㻌㻌㻌㻹㼛㼟㼠㻌㼚㼛㼠㼑㼟㻌㼜㼍㼥㼍㼎㼘㼑㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼜㼍㼥㼍㼎㼘㼑㻘㻌㼣㼔㼕㼏㼔㻌㼍㼞㼑㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼜㼍㼥㼍㼎㼘㼑㼟㻘㻌㼔㼍㼢㼑㻌㼜㼍㼥㼙㼑㼚㼠㻌㼐㼡㼑㻌㼐㼍㼠㼑㼟㻌㼣㼕㼠㼔㼕㼚㻌㼛㼚㼑㻌㼥㼑㼍㼞㻚㻿㼛㼙㼑 㼛㼜㼑㼞㼍㼠㼕㼚㼓 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟 㼍㼚㼐 㼜㼍㼥㼍㼎㼘㼑㼟 㼍㼞㼑 㼐㼑㼚㼛㼙㼕㼚㼍㼠㼑㼐 㼕㼚 㼒㼛㼞㼑㼕㼓㼚 㼏㼡㼞㼞㼑㼚㼏㼕㼑㼟 㼍㼚㼐 㼍㼞㼑 㼑㼤㼜㼛㼟㼑㼐 㼠㼛 㼒㼛㼞㼑㼕㼓㼚 㼑㼤㼏㼔㼍㼚㼓㼑 㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㼞㼕㼟㼗㻚 㻴㼛㼣㼑㼢㼑㼞㻘 㻴㻻㻾㻵㻮㻭 㼑㼚㼐㼑㼍㼢㼛㼞㼟 㼠㼛 㼞㼑㼐㼡㼏㼑 㼠㼔㼕㼟 㼞㼕㼟㼗 㼎㼥 㼛㼒㼒㼟㼑㼠㼠㼕㼚㼓 㼒㼛㼞㼑㼕㼓㼚 㼏㼡㼞㼞㼑㼚㼏㼥 㼐㼑㼚㼛㼙㼕㼚㼍㼠㼑㼐 㼛㼜㼑㼞㼍㼠㼕㼚㼓 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟 㼍㼚㼐㼜㼍㼥㼍㼎㼘㼑㼟㻌㼍㼚㼐㻌㼎㼥㻌㼡㼟㼕㼚㼓㻌㼒㼛㼞㼣㼍㼞㼐㻌㼑㼤㼏㼔㼍㼚㼓㼑㻌㼏㼛㼚㼠㼞㼍㼏㼠㼟㻘㻌㼑㼠㼏㻚㻹㼍㼞㼗㼑㼠㼍㼎㼘㼑 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟 㼍㼞㼑 㼙㼍㼕㼚㼘㼥 㼟㼔㼛㼞㼠㻙㼠㼑㼞㼙 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟 㼣㼕㼠㼔 㼔㼕㼓㼔 㼘㼕㼝㼡㼕㼐㼕㼠㼥 㼟㼡㼏㼔 㼍㼟 㼚㼑㼓㼛㼠㼕㼍㼎㼘㼑 㼐㼑㼜㼛㼟㼕㼠㼟㻚 㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㼍㼞㼑 㼙㼍㼕㼚㼘㼥 㼟㼔㼍㼞㼑㼟 㼛㼒 㼏㼛㼙㼜㼍㼚㼕㼑㼟 㼠㼔㼍㼠 㼔㼍㼢㼑 㼍 㼎㼡㼟㼕㼚㼑㼟㼟 㼞㼑㼘㼍㼠㼕㼛㼚㼟㼔㼕㼜㼟 㼣㼕㼠㼔 㻴㻻㻾㻵㻮㻭 㼍㼚㼐 㼍㼞㼑 㼑㼤㼜㼛㼟㼑㼐 㼠㼛 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚 㼞㼕㼟㼗㻚㻴㼛㼣㼑㼢㼑㼞㻘 㼣㼔㼑㼚 㼍㼏㼝㼡㼕㼞㼕㼚㼓 㼛㼞 㼟㼑㼘㼘㼕㼚㼓 㼟㼔㼍㼞㼑㼟 㼛㼒 㼍 㼏㼑㼞㼠㼍㼕㼚 㼢㼍㼘㼡㼑㻘 㼠㼔㼑 㻮㼛㼍㼞㼐 㼛㼒 㻰㼕㼞㼑㼏㼠㼛㼞㼟 㼏㼛㼚㼟㼕㼐㼑㼞㼟 㼠㼔㼑 㼐㼑㼠㼍㼕㼘㼟 㼛㼒 㼠㼔㼑 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟 㼍㼚㼐㻴㻻㻾㻵㻮㻭 㼑㼚㼐㼑㼍㼢㼛㼞㼟 㼠㼛 㼞㼑㼐㼡㼏㼑 㼍㼚㼥 㼞㼕㼟㼗 㼎㼥 㼑㼚㼟㼡㼞㼕㼚㼓 㼠㼔㼍㼠 㼠㼔㼑 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚 㼞㼑㼓㼍㼞㼐㼕㼚㼓 㼠㼔㼑 㼟㼔㼍㼞㼑㼟 㼕㼟 㼞㼑㼜㼛㼞㼠㼑㼐 㼠㼛 㼠㼔㼑㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌㼠㼑㼍㼙㻌㼕㼚㻌㼍㻌㼠㼕㼙㼑㼘㼥㻌㼙㼍㼚㼚㼑㼞㻚㻿㼔㼛㼞㼠㻙㼠㼑㼞㼙 㼘㼛㼍㼚㼟 㼍㼞㼑 㼙㼍㼕㼚㼘㼥 㼒㼛㼞 㼒㼕㼚㼍㼚㼏㼕㼚㼓 㼞㼑㼘㼍㼠㼑㼐 㼠㼛 㼛㼜㼑㼞㼍㼠㼕㼚㼓 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻘 㼣㼔㼕㼘㼑 㼘㼛㼚㼓㻙㼠㼑㼞㼙 㼘㼛㼍㼚㼟 㼍㼚㼐 㼏㼛㼞㼜㼛㼞㼍㼠㼑 㼎㼛㼚㼐㼟 㼍㼞㼑㼙㼍㼕㼚㼘㼥㻌㼒㼛㼞㻌㼒㼕㼚㼍㼚㼏㼕㼚㼓㻌㼞㼑㼘㼍㼠㼑㼐㻌㼠㼛㻌㼜㼘㼍㼚㼠㻌㼍㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌㼍㼚㼐㻌㼣㼛㼞㼗㼕㼚㼓㻌㼏㼍㼜㼕㼠㼍㼘㻚㼀㼞㼍㼐㼑 㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟 㼍㼚㼐 㼘㼛㼍㼚㼟 㼍㼞㼑 㼑㼤㼜㼛㼟㼑㼐 㼠㼛 㼘㼕㼝㼡㼕㼐㼕㼠㼥 㼞㼕㼟㼗㻘 㼎㼡㼠 㻴㻻㻾㻵㻮㻭 㼑㼚㼐㼑㼍㼢㼛㼞㼟 㼠㼛 㼞㼑㼐㼡㼏㼑 㼠㼔㼕㼟 㼞㼕㼟㼗 㼎㼥 㼡㼟㼕㼚㼓 㼙㼑㼠㼔㼛㼐㼟 㼟㼡㼏㼔 㼍㼟 㼠㼔㼑㼜㼞㼑㼜㼍㼞㼍㼠㼕㼛㼚㻌㼛㼒㻌㼏㼍㼟㼔㻌㼒㼘㼛㼣㻌㼜㼘㼍㼚㼟㻚㻾㼑㼓㼍㼞㼐㼕㼚㼓 㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻘 㻴㻻㻾㻵㻮㻭 㼏㼛㼚㼐㼡㼏㼠㼟 㼑㼤㼏㼔㼍㼚㼓㼑 㼍㼓㼞㼑㼑㼙㼑㼚㼠 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟 㼣㼕㼠㼔㼕㼚 㼠㼔㼑 㼘㼕㼙㼕㼠 㼛㼒 㼠㼔㼑 㼎㼍㼘㼍㼚㼏㼑 㼛㼒 㼒㼛㼞㼑㼕㼓㼚㼏㼡㼞㼞㼑㼚㼏㼥㻙㼐㼑㼚㼛㼙㼕㼚㼍㼠㼑㼐 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟 㼍㼚㼐 㼜㼍㼥㼍㼎㼘㼑㼟 㼍㼚㼐 㼏㼛㼚㼐㼡㼏㼠㼟 㼕㼚㼠㼑㼞㼑㼟㼠 㼞㼍㼠㼑 㼟㼣㼍㼜 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟 㼍㼕㼙㼑㼐 㼍㼠 㼍㼢㼛㼕㼐㼕㼚㼓 㼕㼚㼠㼑㼞㼑㼟㼠 㼞㼍㼠㼑㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚 㼞㼕㼟㼗 㼣㼕㼠㼔㼕㼚 㼠㼔㼑 㼘㼕㼙㼕㼠 㼛㼒 㼠㼔㼑 㼎㼍㼘㼍㼚㼏㼑 㼛㼒 㼎㼛㼞㼞㼛㼣㼕㼚㼓㼟㻚 㻴㻻㻾㻵㻮㻭㻓㼟 㼜㼛㼘㼕㼏㼥 㼕㼟 㼚㼛㼠 㼠㼛 㼑㼚㼓㼍㼓㼑 㼕㼚 㼟㼜㼑㼏㼡㼘㼍㼠㼕㼢㼑 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻚 㻵㼚㼍㼐㼐㼕㼠㼕㼛㼚㻘 㻴㻻㻾㻵㻮㻭 㼑㼚㼐㼑㼍㼢㼛㼞㼟 㼠㼛 㼞㼑㼐㼡㼏㼑 㼞㼕㼟㼗 㼟㼠㼑㼙㼙㼕㼚㼓 㼒㼞㼛㼙 㼐㼑㼒㼍㼡㼘㼠 㼛㼒 㼏㼛㼡㼚㼠㼑㼞㼜㼍㼞㼠㼕㼑㼟 㼎㼥 㼏㼛㼚㼐㼡㼏㼠㼕㼚㼓 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟 㼣㼕㼠㼔 㼒㼕㼚㼍㼚㼏㼕㼍㼘㼕㼚㼟㼠㼕㼠㼡㼠㼕㼛㼚㼟㻌㼠㼔㼍㼠㻌㼔㼍㼢㼑㻌㼔㼕㼓㼔㻌㼏㼞㼑㼐㼕㼠㻌㼞㼍㼠㼕㼚㼓㼟㻚㻿㼡㼜㼜㼘㼑㼙㼑㼚㼠㼍㼞㼥㻌㼑㼤㼜㼘㼍㼚㼍㼠㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㼑㼟㼠㼕㼙㼍㼠㼑㼐㻌㼒㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㼀㼔㼑 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼛㼒 㼒㼕㼚㼍㼚㼏㼕㼍㼘 㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㼕㼚㼏㼘㼡㼐㼑㼟 㼢㼍㼘㼡㼑㼟 㼎㼍㼟㼑㼐 㼛㼚 㼙㼍㼞㼗㼑㼠 㼜㼞㼕㼏㼑㼟 㼍㼚㼐 㼍㼙㼛㼡㼚㼠㼟 㼞㼍㼠㼕㼛㼚㼍㼘㼘㼥 㼏㼍㼘㼏㼡㼘㼍㼠㼑㼐 㼣㼔㼑㼚 㼠㼔㼑㼞㼑㼍㼞㼑 㼚㼛 㼙㼍㼞㼗㼑㼠 㼜㼞㼕㼏㼑㼟 㼍㼢㼍㼕㼘㼍㼎㼘㼑㻚 㻭㼟 㻴㻻㻾㻵㻮㻭 㼕㼚㼏㼛㼞㼜㼛㼞㼍㼠㼑㼟 㼢㼍㼞㼕㼍㼎㼘㼑 㼒㼍㼏㼠㼛㼞㼟 㼣㼔㼑㼚 㼙㼍㼗㼕㼚㼓 㼠㼔㼑㼟㼑 㼏㼍㼘㼏㼡㼘㼍㼠㼕㼛㼚㼟㻘 㼠㼔㼑 㼍㼙㼛㼡㼚㼠㼟 㼙㼍㼥 㼏㼔㼍㼚㼓㼑㼐㼡㼑 㼠㼛 㼠㼔㼑 㼍㼐㼛㼜㼠㼕㼛㼚 㼛㼒 㼐㼕㼒㼒㼑㼞㼑㼚㼠 㼍㼟㼟㼡㼙㼜㼠㼕㼛㼚㼟㻚 㼃㼕㼠㼔 㼞㼑㼓㼍㼞㼐 㼠㼛 㼏㼛㼚㼠㼞㼍㼏㼠 㼍㼙㼛㼡㼚㼠㼟 㼞㼑㼘㼍㼠㼑㼐 㼠㼛 㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟 㼕㼚 㼠㼔㼑 㻺㼛㼠㼑㼟 㼠㼛㻯㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㻲㼕㼚㼍㼚㼏㼕㼍㼘 㻿㼠㼍㼠㼑㼙㼑㼚㼠㼟 㼕㼠㼑㼙 㻎㻰㼑㼞㼕㼢㼍㼠㼕㼢㼑 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻘㻎 㼠㼔㼑 㼍㼙㼛㼡㼚㼠㼟 㼐㼛 㼚㼛㼠 㼕㼚㼐㼕㼏㼍㼠㼑 㼠㼔㼑 㼙㼍㼞㼗㼑㼠 㼞㼕㼟㼗 㼍㼟㼟㼛㼏㼕㼍㼠㼑㼐 㼣㼕㼠㼔㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻌㼠㼔㼑㼙㼟㼑㼘㼢㼑㼟㻚㻔㻞㻕㻌㻲㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㼀㼔㼑 㼎㼛㼛㼗 㼢㼍㼘㼡㼑 㼍㼚㼐 㼒㼍㼕㼞 㼢㼍㼘㼡㼑 㼛㼒 㼒㼕㼚㼍㼚㼏㼕㼍㼘 㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㼍㼚㼐 㼍㼚㼥 㼐㼕㼒㼒㼑㼞㼑㼚㼏㼑 㼎㼑㼠㼣㼑㼑㼚 㼠㼔㼑 㼠㼣㼛 㼍㼟 㼛㼒 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞㻟㻝㻘 㻞㻜㻝㻞 㼍㼞㼑 㼟㼑㼠 㼒㼛㼞㼠㼔 㼕㼚 㼠㼔㼑 㼠㼍㼎㼘㼑 㼎㼑㼘㼛㼣㻚 㻲㼕㼚㼍㼚㼏㼕㼍㼘 㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㼣㼔㼛㼟㼑 㼒㼍㼕㼞 㼢㼍㼘㼡㼑 㼣㼍㼟 㼑㼤㼠㼞㼑㼙㼑㼘㼥 㼐㼕㼒㼒㼕㼏㼡㼘㼠 㼠㼛 㼑㼟㼠㼕㼙㼍㼠㼑 㼍㼞㼑 㼚㼛㼠 㼕㼚㼏㼘㼡㼐㼑㼐㻔㻿㼑㼑㻌㻺㼛㼠㼑㻌㻞㻕㻚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻮㼛㼛㼗㻌㼢㼍㼘㼡㼑 㻲㼍㼕㼞㻌㼢㼍㼘㼡㼑㻰㼕㼒㼒㼑㼞㼑㼚㼏㼑㻮㼛㼛㼗㻌㼢㼍㼘㼡㼑 㻲㼍㼕㼞㻌㼢㼍㼘㼡㼑㻰㼕㼒㼒㼑㼞㼑㼚㼏㼑㻭㼟㼟㼑㼠㼟㻦
㻔㻝㻕㻌㻯㼍㼟㼔㻌㼍㼚㼐㻌㼠㼕㼙㼑㻌㼐㼑㼜㼛㼟㼕㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻕㻌㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻟㻕㻌㻹㼍㼞㼗㼑㼠㼍㼎㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻭㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻞㻤㻘㻤㻥㻟
㻟㻥㻘㻟㻣㻡

㼰㻞㻤㻘㻤㻥㻟
㻟㻥㻘㻟㻣㻡

㻙㻙㼰㻟㻠㻘㻢㻤㻡
㻟㻣㻘㻡㻞㻝

㼰㻟㻠㻘㻢㻤㻡
㻟㻣㻘㻡㻞㻝

㻙㻙㻝㻝㻘㻡㻝㻠
㼰㻣㻥㻘㻣㻤㻟

㻝㻝㻘㻡㻝㻠
㼰㻣㻥㻘㻣㻤㻟㻙㻙㻥㻘㻥㻟㻝㼰㻤㻞㻘㻝㻟㻤

㻥㻘㻥㻟㻝㼰㻤㻞㻘㻝㻟㻤

㻙㻙㻸㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻦㻔㻝㻕㻌㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼜㼍㼥㼍㼎㼘㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻕㻌㻿㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌㼘㼛㼍㼚㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻟㻕㻌㻭㼏㼏㼛㼡㼚㼠㼟㻌㼜㼍㼥㼍㼎㼘㼑㻌㻙㻌㼛㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻠㻕㻌㻭㼏㼏㼞㼡㼑㼐㻌㼕㼚㼏㼛㼙㼑㻌㼠㼍㼤㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻡㻕㻌㻮㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻢㻕㻌㻸㼛㼚㼓㻙㼠㼑㼞㼙㻌㼘㼛㼍㼚㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻝㻟㻘㻝㻥㻢
㻢㻘㻢㻤㻠
㻣㻘㻤㻜㻡
㻞㻘㻠㻡㻥
㻝㻜㻘㻜㻜㻜
㻝㻘㻞㻥㻝㼰㻠㻝㻘㻠㻟㻥

㼰㻝㻟㻘㻝㻥㻢
㻢㻘㻢㻤㻠
㻣㻘㻤㻜㻡
㻞㻘㻠㻡㻥
㻝㻜㻘㻟㻤㻡
㻝㻘㻞㻥㻠㼰㻠㻝㻘㻤㻞㻣

㻙
㻙
㻙
㻙
㻟㻤㻡
㻞
㼰㻟㻤㻤

㼰㻝㻝㻘㻤㻞㻥
㻡㻘㻡㻞㻟
㻥㻘㻝㻥㻡
㻝㻘㻟㻝㻣
㻝㻜㻘㻜㻜㻜
㻞㻘㻝㻝㻟㼰㻟㻥㻘㻥㻣㻥

㼰㻝㻝㻘㻤㻞㻥
㻡㻘㻡㻞㻟
㻥㻘㻝㻥㻡
㻝㻘㻟㻝㻣
㻝㻜㻘㻞㻟㻥
㻞㻘㻝㻠㻡㼰㻠㻜㻘㻞㻡㻝

㻙
㻙
㻙
㻙
㻞㻟㻥
㻟㻞
㼰㻞㻣㻞

㻰㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚

㻔㻝㻜㻟㻕

㻔㻝㻜㻟㻕

㻙

㻔㻝㻥㻜㻕

㻔㻝㻥㻜㻕

㻙

Annual Report 2012 | 58

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻌㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻮㼛㼛㼗㻌㼢㼍㼘㼡㼑㻲㼍㼕㼞㻌㼢㼍㼘㼡㼑㻐㻠㻜㻜㻘㻢㻝㻞
㻠㻟㻟㻘㻟㻢㻣

㻐㻠㻜㻜㻘㻢㻝㻞
㻠㻟㻟㻘㻟㻢㻣

㻙㻙㻝㻝㻠㻘㻣㻜㻟
㻐㻥㻠㻤㻘㻢㻥㻠

㻝㻝㻠㻘㻣㻜㻟
㻐㻥㻠㻤㻘㻢㻥㻠

㻙㻙㻸㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻦㻔㻝㻕㻌㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼜㼍㼥㼍㼎㼘㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻕㻌㻿㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌㼘㼛㼍㼚㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻟㻕㻌㻭㼏㼏㼛㼡㼚㼠㼟㻌㼜㼍㼥㼍㼎㼘㼑㻌㻙㻌㼛㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻠㻕㻌㻭㼏㼏㼞㼡㼑㼐㻌㼕㼚㼏㼛㼙㼑㻌㼠㼍㼤㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻡㻕㻌㻮㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻢㻕㻌㻸㼛㼚㼓㻙㼠㼑㼞㼙㻌㼘㼛㼍㼚㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻐㻝㻟㻢㻘㻢㻞㻡
㻢㻟㻘㻣㻥㻜
㻝㻜㻢㻘㻞㻜㻞
㻝㻡㻘㻞㻝㻝
㻝㻝㻡㻘㻡㻜㻜
㻞㻠㻘㻠㻜㻡
㻐㻠㻢㻝㻘㻣㻡㻣

㻐㻝㻟㻢㻘㻢㻞㻡
㻢㻟㻘㻣㻥㻜
㻝㻜㻢㻘㻞㻜㻞
㻝㻡㻘㻞㻝㻝
㻝㻝㻤㻘㻞㻢㻜
㻞㻠㻘㻣㻣㻠
㻐㻠㻢㻠㻘㻤㻥㻥

㻙
㻙
㻙
㻙
㻞㻘㻣㻢㻜
㻟㻢㻥
㻐㻟㻘㻝㻠㻝

㻰㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻘㻝㻥㻠㻕

㻔㻞㻘㻝㻥㻠㻕

㻙㻭㼟㼟㼑㼠㼟㻦
㻔㻝㻕㻌㻯㼍㼟㼔㻌㼍㼚㼐㻌㼠㼕㼙㼑㻌㼐㼑㼜㼛㼟㼕㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻕㻌㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻟㻕㻌㻹㼍㼞㼗㼑㼠㼍㼎㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻭㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻰㼕㼒㼒㼑㼞㼑㼚㼏㼑㻺㼛㼠㼑㻌㻝㻚㻌㻹㼑㼠㼔㼛㼐㻌㼒㼛㼞㻌㼏㼍㼘㼏㼡㼘㼍㼠㼕㼚㼓㻌㼠㼔㼑㻌㼒㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㼍㼚㼐㻌㼚㼛㼠㼑㼟㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻚㻭㼟㼟㼑㼠㼟
㻔㻝㻕㻌㻯㼍㼟㼔㻌㼍㼚㼐㻌㼠㼕㼙㼑㻌㼐㼑㼜㼛㼟㼕㼠㼟㻌㼍㼚㼐㻌㻔㻞㻕㻌㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㻭㼟 㼠㼔㼑㼟㼑 㼍㼞㼑 㼟㼑㼠㼠㼘㼑㼐 㼕㼚 㼠㼔㼑 㼟㼔㼛㼞㼠 㼠㼑㼞㼙㻘 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼍㼜㼜㼞㼛㼤㼕㼙㼍㼠㼑㼟 㼎㼛㼛㼗 㼢㼍㼘㼡㼑 㼍㼚㼐 㼕㼟㻘 㼠㼔㼑㼞㼑㼒㼛㼞㼑㻘 㼎㼍㼟㼑㼐 㼛㼚 㼠㼔㼑 㼍㼜㼜㼘㼕㼏㼍㼎㼘㼑 㼎㼛㼛㼗㼢㼍㼘㼡㼑㻚
㻔㻟㻕㻌㻹㼍㼞㼗㼑㼠㼍㼎㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻹㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼒㼛㼞 㼠㼔㼑㼟㼑 㼕㼟 㼎㼍㼟㼑㼐 㼛㼚 㼜㼞㼕㼏㼑㼟 㼛㼚 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟 㼑㼤㼏㼔㼍㼚㼓㼑㼟 㼕㼚 㼠㼔㼑 㼏㼍㼟㼑 㼛㼒 㼟㼔㼍㼞㼑㼟㻘 㼑㼠㼏㻚 㻲㼛㼞 㼎㼛㼚㼐㼟㻘 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼕㼟 㼎㼍㼟㼑㼐㼛㼚 㼜㼞㼕㼏㼑㼟 㼛㼚 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟 㼑㼤㼏㼔㼍㼚㼓㼑㼟 㼛㼞 㼜㼞㼕㼏㼑㼟 㼕㼚㼐㼕㼏㼍㼠㼑㼐 㼎㼥 㼏㼛㼞㼞㼑㼟㼜㼛㼚㼐㼕㼚㼓 㼒㼕㼚㼍㼚㼏㼕㼍㼘 㼕㼚㼟㼠㼕㼠㼡㼠㼕㼛㼚㼟㻚 㻲㼛㼞 㼙㼍㼞㼗㼑㼠㼍㼎㼘㼑 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㼏㼘㼍㼟㼟㼕㼒㼕㼑㼐㻌㼎㼥㻌㼠㼔㼑㻌㼜㼡㼞㼜㼛㼟㼑㻌㼒㼛㼞㻌㼣㼔㼕㼏㼔㻌㼠㼔㼑㼥㻌㼍㼞㼑㻌㼔㼑㼘㼐㻘㻌㼟㼑㼑㻌㻺㼛㼠㼑㻌㻡㻚㻸㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻔㻝㻕㻌㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼜㼍㼥㼍㼎㼘㼑㻘㻌㻔㻞㻕㻌㻿㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌㼘㼛㼍㼚㼟㻘㻌㻔㻟㻕㻌㻭㼏㼏㼛㼡㼚㼠㼟㻌㼜㼍㼥㼍㼎㼘㼑㻌㻙㻌㼛㼠㼔㼑㼞㻌㼍㼚㼐㻌㻔㻠㻕㻌㻭㼏㼏㼞㼡㼑㼐㻌㼕㼚㼏㼛㼙㼑㻌㼠㼍㼤㼑㼟㻭㼟 㼠㼔㼑㼟㼑 㼍㼞㼑 㼟㼑㼠㼠㼘㼑㼐 㼕㼚 㼠㼔㼑 㼟㼔㼛㼞㼠 㼠㼑㼞㼙㻘 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼍㼜㼜㼞㼛㼤㼕㼙㼍㼠㼑㼟 㼎㼛㼛㼗 㼢㼍㼘㼡㼑 㼍㼚㼐 㼕㼟㻘 㼠㼔㼑㼞㼑㼒㼛㼞㼑㻘 㼎㼍㼟㼑㼐 㼛㼚 㼠㼔㼑 㼍㼜㼜㼘㼕㼏㼍㼎㼘㼑 㼎㼛㼛㼗㼢㼍㼘㼡㼑㻚
㻔㻡㻕㻌㻮㼛㼚㼐㼟㻹㼍㼞㼗㼑㼠㻌㼢㼍㼘㼡㼑㻌㼒㼛㼞㻌㼎㼛㼚㼐㼟㻌㼕㼟㼟㼡㼑㼐㻌㼎㼥㻌㻴㻻㻾㻵㻮㻭㻌㼕㼟㻌㼏㼍㼘㼏㼡㼘㼍㼠㼑㼐㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼙㼍㼞㼗㼑㼠㻌㼜㼞㼕㼏㼑㼟㻚㻔㻢㻕㻌㻸㼛㼚㼓㻙㼠㼑㼞㼙㻌㼘㼛㼍㼚㼟㻮㼛㼞㼞㼛㼣㼕㼚㼓㼟 㼎㼍㼟㼑㼐 㼛㼚 㼢㼍㼞㼕㼍㼎㼘㼑 㼕㼚㼠㼑㼞㼑㼟㼠 㼞㼍㼠㼑㼟 㼞㼑㼒㼘㼑㼏㼠 㼙㼍㼞㼗㼑㼠 㼕㼚㼠㼑㼞㼑㼟㼠 㼞㼍㼠㼑㼟㻘 㼍㼚㼐 㼍㼟 㼠㼔㼑 㼏㼞㼑㼐㼕㼠㼣㼛㼞㼠㼔㼕㼚㼑㼟㼟 㼛㼒 㻴㻻㻾㻵㻮㻭 㼔㼍㼟 㼚㼛㼠㼏㼔㼍㼚㼓㼑㼐 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㼘㼥 㼟㼕㼚㼏㼑 㼑㼤㼑㼏㼡㼠㼕㼛㼚㻘 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼕㼟 㼏㼛㼚㼟㼕㼐㼑㼞㼑㼐 㼠㼛 㼎㼑 㼍㼜㼜㼞㼛㼤㼕㼙㼍㼠㼑 㼎㼛㼛㼗 㼢㼍㼘㼡㼑 㼍㼚㼐 㼕㼟㻘 㼠㼔㼑㼞㼑㼒㼛㼞㼑㻘 㼎㼍㼟㼑㼐 㼛㼚㼍㼜㼜㼘㼕㼏㼍㼎㼘㼑 㼎㼛㼛㼗 㼢㼍㼘㼡㼑㻚 㼀㼔㼑 㼢㼍㼘㼡㼑 㼛㼒 㼎㼛㼞㼞㼛㼣㼕㼚㼓㼟 㼣㼕㼠㼔 㼒㼕㼤㼑㼐 㼕㼚㼠㼑㼞㼑㼟㼠 㼞㼍㼠㼑㼟 㼕㼟 㼎㼍㼟㼑㼐 㼛㼚 㼠㼔㼑 㼠㼛㼠㼍㼘 㼍㼙㼛㼡㼚㼠 㼛㼒 㼜㼞㼕㼚㼏㼕㼜㼍㼘 㼍㼚㼐 㼕㼚㼠㼑㼞㼑㼟㼠㼐㼕㼟㼏㼛㼡㼚㼠㼑㼐㻌㼍㼠㻌㼍㼚㻌㼕㼚㼠㼑㼞㼑㼟㼠㻌㼞㼍㼠㼑㻌㼛㼒㻌㼍㻌㼟㼕㼙㼕㼘㼍㼞㻌㼚㼑㼣㻌㼘㼛㼍㼚㻚㻰㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻿㼑㼑㻌㻺㼛㼠㼑㻌㻝㻠㻌㼒㼛㼞㻌㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻚㻺㼑㼠 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟 㻔㼜㼍㼥㼍㼎㼘㼑㼟㻕 㼐㼑㼞㼕㼢㼑㼐 㼒㼞㼛㼙 㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟 㼍㼞㼑 㼐㼕㼟㼜㼘㼍㼥㼑㼐 㼕㼚 㼠㼔㼑 㼠㼍㼎㼘㼑 㼍㼎㼛㼢㼑㻚 㼀㼛㼠㼍㼘 㼚㼑㼠 㼜㼍㼥㼍㼎㼘㼑㼟 㼍㼞㼑 㼟㼔㼛㼣㼚㼕㼚㻌㼜㼍㼞㼑㼚㼠㼔㼑㼟㼕㼟㻚㻺㼛㼠㼑㻌㻞㻚㻌㼀㼔㼑㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻌㼠㼍㼎㼘㼑㻌㼟㼡㼙㼙㼍㼞㼕㼦㼑㼟㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㼣㼔㼛㼟㼑㻌㼒㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼣㼍㼟㻌㼑㼤㼠㼞㼑㼙㼑㼘㼥㻌㼐㼕㼒㼒㼕㼏㼡㼘㼠㻌㼠㼛㻌㼑㼟㼠㼕㼙㼍㼠㼑㻚㻺㼛㼚㻙㼘㼕㼟㼠㼑㼐㻌㼑㼝㼡㼕㼠㼥㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼕㼚㻌㼚㼛㼚㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼍㼚㼐㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㼰㻞㻡㻥
㼰㻝㻠㻢
㻥㻜
㻢㻣

㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻐㻝㻘㻢㻤㻢
㻣㻣㻟㼀㼔㼑 㼍㼎㼛㼢㼑 㼒㼕㼚㼍㼚㼏㼕㼍㼘 㼕㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㼣㼑㼞㼑 㼚㼛㼠 㼕㼚㼏㼘㼡㼐㼑㼐 㼕㼚 㻎㻔㻟㻕 㻹㼍㼞㼗㼑㼠㼍㼎㼘㼑 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟 㼍㼚㼐 㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻎 㼎㼑㼏㼍㼡㼟㼑 㼠㼔㼑㼥 㼐㼕㼐㼚㼛㼠㻌㼔㼍㼢㼑㻌㼙㼍㼞㼗㼑㼠㻌㼢㼍㼘㼡㼑㼟㻌㼍㼚㼐㻌㼠㼔㼑㻌㼒㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼣㼍㼟㻌㼑㼤㼠㼞㼑㼙㼑㼘㼥㻌㼐㼕㼒㼒㼕㼏㼡㼘㼠㻌㼠㼛㻌㼑㼟㼠㼕㼙㼍㼠㼑㻚59

㻺㼛㼠㼑㻌㻟㻚 㻌㻾㼑㼜㼍㼥㼙㼑㼚㼠㻌㼟㼏㼔㼑㼐㼡㼘㼑㻌㼛㼒㻌㼙㼛㼚㼑㼠㼍㼞㼥㻌㼏㼘㼍㼕㼙㼟㻘㻌㼍㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㼟㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼙㼍㼠㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼎㼛㼚㼐㼟㻌㼔㼑㼘㼐㻌㼠㼛㻌㼙㼍㼠㼡㼞㼕㼠㼥㻚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻻㼢㼑㼞㻌㼛㼚㼑㻌㼥㼑㼍㼞 㻻㼢㼑㼞㻌㼒㼕㼢㼑㻌㼥㼑㼍㼞㼟㼃㼕㼠㼔㼕㼚㻌㼛㼚㼑㼎㼡㼠㻌㼣㼕㼠㼔㼕㼚㻌㼒㼕㼢㼑㼎㼡㼠㻌㼣㼕㼠㼔㼕㼚㻌㼠㼑㼚 㻻㼢㼑㼞㻌㼠㼑㼚㻌㼥㼑㼍㼞㼟
㼥㼑㼍㼞
㼥㼑㼍㼞㼟
㼥㼑㼍㼞㼟
㻯㼍㼟㼔㻌㼍㼚㼐㻌㼠㼕㼙㼑㻌㼐㼑㼜㼛㼟㼕㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻞㻤㻘㻤㻥㻟㻙㻙㻙㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻟㻥㻘㻟㻣㻡㻙㻙㻙㻹㼍㼞㼗㼑㼠㼍㼎㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻭㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼙㼍㼠㼡㼞㼕㼠㼕㼑㼟㻔㻝㻕㻌㻮㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻝㻘㻡㻥㻥
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㻔㻞㻕㻌㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻡㻜㻜
㻞
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㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻣㻜㻘㻟㻢㻥㼰㻞㼰㻡㻙㻯㼍㼟㼔㻌㼍㼚㼐㻌㼠㼕㼙㼑㻌㼐㼑㼜㼛㼟㼕㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼍㼞㼗㼑㼠㼍㼎㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻭㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼙㼍㼠㼡㼞㼕㼠㼕㼑㼟㻔㻝㻕㻌㻮㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻕㻌㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻞
㻻㼢㼑㼞㻌㼛㼚㼑㻌㼥㼑㼍㼞 㻻㼢㼑㼞㻌㼒㼕㼢㼑㻌㼥㼑㼍㼞㼟㼃㼕㼠㼔㼕㼚㻌㼛㼚㼑㼎㼡㼠㻌㼣㼕㼠㼔㼕㼚㻌㼠㼑㼚 㻻㼢㼑㼞㻌㼠㼑㼚㻌㼥㼑㼍㼞㼟㼎㼡㼠㻌㼣㼕㼠㼔㼕㼚㻌㼒㼕㼢㼑
㼥㼑㼍㼞
㼥㼑㼍㼞㼟
㼥㼑㼍㼞㼟
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㼰㻟㻠㻘㻢㻤㻡
㻟㻣㻘㻡㻞㻝
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㻝㻘㻠㻥㻤
㻝㻘㻜㻜㻜
㼰㻣㻠㻘㻣㻜㻢

㼃㼕㼠㼔㼕㼚㻌㼛㼚㼑㼥㼑㼍㼞㻯㼍㼟㼔㻌㼍㼚㼐㻌㼠㼕㼙㼑㻌㼐㼑㼜㼛㼟㼕㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼞㼍㼐㼑㻌㼚㼛㼠㼑㼟㻌㼍㼚㼐㻌㼍㼏㼏㼛㼡㼚㼠㼟㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼍㼞㼗㼑㼠㼍㼎㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼍㼚㼐㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻭㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼙㼍㼠㼡㼞㼕㼠㼕㼑㼟㻔㻝㻕㻌㻮㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻕㻌㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻐㻠㻜㻜㻘㻢㻝㻞
㻠㻟㻟㻘㻟㻢㻣

㻝㻣㻘㻟㻜㻝
㻝㻝㻘㻡㻡㻜
㻐㻤㻢㻞㻘㻤㻡㻡

㻞㻜㻜
㻝㻤
㼰㻞㻝㻥

㻙
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㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻌㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻻㼢㼑㼞㻌㼛㼚㼑㻌㼥㼑㼍㼞 㻻㼢㼑㼞㻌㼒㼕㼢㼑㻌㼥㼑㼍㼞㼟㼎㼡㼠㻌㼣㼕㼠㼔㼕㼚㻌㼒㼕㼢㼑㼎㼡㼠㻌㼣㼕㼠㼔㼕㼚㻌㼠㼑㼚 㻻㼢㼑㼞㻌㼠㼑㼚㻌㼥㼑㼍㼞㼟
㼥㼑㼍㼞㼟
㼥㼑㼍㼞㼟
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㻞㻘㻟㻝㻜
㻞㻜㻣
㻐㻞㻘㻡㻞㻥

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㻤㻜
㻐㻤㻜

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㻺㼛㼠㼑㻌㻠㻚 㻾㼑㼜㼍㼥㼙㼑㼚㼠㻌㼟㼏㼔㼑㼐㼡㼘㼑㻌㼛㼒㻌㼎㼛㼚㼐㼟㻌㼍㼚㼐㻌㼘㼛㼚㼓㻙㼠㼑㼞㼙㻌㼐㼑㼎㼠㻿㼑㼑㻌㻺㼛㼠㼑㻌㻤㻌㼒㼛㼞㻌㼟㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌㼘㼛㼍㼚㼟㻌㼍㼚㼐㻌㼘㼛㼚㼓㻙㼠㼑㼞㼙㻌㼐㼑㼎㼠㻚

Annual Report 2012 | 60

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻡㻚㻌㻿㼑㼏㼡㼞㼕㼠㼕㼑㼟㼀㼔㼑 㼒㼛㼘㼘㼛㼣㼕㼚㼓 㼠㼍㼎㼘㼑 㼟㼡㼙㼙㼍㼞㼕㼦㼑㼟 㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚 㼏㼛㼟㼠㼟 㼍㼚㼐 㼎㼛㼛㼗 㼢㼍㼘㼡㼑㼟 㻔㼒㼍㼕㼞 㼢㼍㼘㼡㼑㼟㻕 㼛㼒 㼍㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟 㼍㼟 㼛㼒㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻭㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻮㼛㼛㼗㻌㼢㼍㼘㼡㼑㻰㼕㼒㼒㼑㼞㼑㼚㼏㼑㼏㼛㼟㼠㻮㼛㼛㼗㻌㼢㼍㼘㼡㼑㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻞
㻭㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㼏㼛㼟㼠㻰㼕㼒㼒㼑㼞㼑㼚㼏㼑㻿㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼎㼛㼛㼗㻌㼢㼍㼘㼡㼑㼟㼑㼤㼏㼑㼑㼐㼕㼚㼓㻌㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻌㼏㼛㼟㼠㼟㻦㻱㼝㼡㼕㼠㼥㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻯㼛㼞㼜㼛㼞㼍㼠㼑㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼡㼎㼠㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻞㻘㻟㻡㻝
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㻞㻘㻤㻡㻞

㼰㻝㻘㻝㻞㻜
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㻡㻜㻜
㻝㻘㻢㻞㻜

㼰㻝㻘㻞㻟㻝㻙㻙㻜㻝㻘㻞㻟㻝㼰㻞㻘㻠㻣㻜
㻢㻜㻜
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㻝㻘㻜㻝㻜
㻠㻘㻜㻤㻝

㼰㻤㻢㻜
㻡㻥㻥
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㻝㻘㻜㻝㻜
㻞㻘㻠㻣㻜

㼰㻝㻘㻢㻜㻥㻝㻙㻜㻝㻘㻢㻝㻝㻿㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼎㼛㼛㼗㻌㼢㼍㼘㼡㼑㼟㻌㼚㼛㼠㼑㼤㼏㼑㼑㼐㼕㼚㼓㻌㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻌㼏㼛㼟㼠㼟㻦㻱㼝㼡㼕㼠㼥㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻳㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻯㼛㼞㼜㼛㼞㼍㼠㼑㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼡㼎㼠㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚

㻤㻜㻡
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㻝㻘㻡㻥㻥
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㻤㻘㻢㻢㻞

㻥㻥㻢
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㻝㻘㻢㻜㻝
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㻢㻘㻞㻡㻜
㻤㻘㻤㻡㻢

㻔㻝㻥㻝㻕
㻔㻜㻕
㻔㻞㻕
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㻔㻝㻥㻠㻕

㻝㻘㻝㻡㻝
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㻠㻥㻤
㻡㻥㻥
㻟㻘㻡㻥㻤
㻡㻘㻤㻠㻥

㻝㻘㻟㻝㻜
㻙
㻠㻥㻥
㻢㻜㻜
㻟㻘㻡㻥㻤
㻢㻘㻜㻜㻤

㻔㻝㻡㻤㻕
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㻔㻜㻕
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㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻝㻝㻘㻡㻝㻠

㼰㻝㻜㻘㻠㻣㻢

㼰㻝㻘㻜㻟㻣

㼰㻥㻘㻥㻟㻝

㼰㻤㻘㻠㻣㻥

㼰㻝㻘㻠㻡㻝

㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻌㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻭㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻰㼕㼒㼒㼑㼞㼑㼚㼏㼑㻮㼛㼛㼗㻌㼢㼍㼘㼡㼑㼏㼛㼟㼠㻿㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼎㼛㼛㼗㻌㼢㼍㼘㼡㼑㼟㼑㼤㼏㼑㼑㼐㼕㼚㼓㻌㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻌㼏㼛㼟㼠㼟㻦㻱㼝㼡㼕㼠㼥㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻯㼛㼞㼜㼛㼞㼍㼠㼑㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼡㼎㼠㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻐㻞㻤㻘㻡㻞㻤
㻢㻘㻥㻟㻜㻝㻝㻘㻢㻢㻡
㻠㻣㻘㻝㻟㻡

㻐㻥㻘㻥㻟㻟
㻢㻘㻥㻝㻤㻝㻝㻘㻢㻢㻡
㻞㻤㻘㻡㻞㻤

㻐㻝㻤㻘㻡㻤㻟
㻝㻝㻜㻝㻤㻘㻢㻜㻣

㻿㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㼣㼕㼠㼔㻌㼎㼛㼛㼗㻌㼢㼍㼘㼡㼑㼟㻌㼚㼛㼠㼑㼤㼏㼑㼑㼐㼕㼚㼓㻌㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻌㼏㼛㼟㼠㼟㻦㻱㼝㼡㼕㼠㼥㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻳㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻯㼛㼞㼜㼛㼞㼍㼠㼑㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻌㼎㼛㼚㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼡㼎㼠㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻝㻟㻘㻞㻥㻠
㻙
㻡㻘㻣㻡㻝
㻢㻘㻥㻝㻤
㻠㻝㻘㻡㻡㻢
㻢㻣㻘㻡㻡㻢

㻝㻡㻘㻝㻟㻜
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㻡㻘㻣㻢㻟
㻢㻘㻥㻟㻜
㻠㻝㻘㻡㻡㻢
㻢㻥㻘㻟㻥㻞

㻔㻝㻘㻤㻞㻠㻕㻙㻔㻜㻕㻔㻜㻕㻙㻔㻝㻘㻤㻟㻢㻕

㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻐㻝㻝㻠㻘㻣㻜㻟

㻐㻥㻣㻘㻥㻟㻞

㻐㻝㻢㻘㻣㻡㻥

㻺㼛㼠㼑㻚㻌 㻺㼛㼚㻙㼘㼕㼟㼠㼑㼐 㼑㼝㼡㼕㼠㼥 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻘 㼑㼠㼏㻘 㼛㼒 \㻞㻡㻥 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻝㻠㻢 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻝㻘㻢㻤㻢 㼠㼔㼛㼡㼟㼍㼚㼐㻕 㼒㼛㼞 㼠㼔㼑 㼒㼕㼟㼏㼍㼘 㼥㼑㼍㼞 㼑㼚㼐㼑㼐㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞㻘 㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻘 㼍㼞㼑 㼚㼛㼠 㼕㼚㼏㼘㼡㼐㼑㼐 㼕㼚 㼠㼔㼑 㼍㼎㼛㼢㼑 㼠㼍㼎㼘㼑 㼎㼑㼏㼍㼡㼟㼑 㼠㼔㼑㼥 㼐㼕㼐㼚㼛㼠㻌㼔㼍㼢㼑㻌㼙㼍㼞㼗㼑㼠㻌㼢㼍㼘㼡㼑㼟㻌㼍㼚㼐㻌㼠㼔㼑㻌㼒㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼣㼍㼟㻌㼑㼤㼠㼞㼑㼙㼑㼘㼥㻌㼐㼕㼒㼒㼕㼏㼡㼘㼠㻌㼠㼛㻌㼑㼟㼠㼕㼙㼍㼠㼑㻚㼀㼔㼑 㼒㼛㼘㼘㼛㼣㼕㼚㼓 㼠㼍㼎㼘㼑 㼟㼡㼙㼙㼍㼞㼕㼦㼑㼟 㼍㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟 㼟㼛㼘㼐 㼒㼛㼞 㼠㼔㼑 㼒㼕㼟㼏㼍㼘 㼥㼑㼍㼞 㼑㼚㼐㼑㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻚㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻝㻞㻛㻞㻜㻝㻞
㼀㼛㼠㼍㼘㻌㼟㼍㼘㼑㼟㻌㼛㼒㻌㼍㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻜㻙㻙㻾㼑㼘㼍㼠㼑㼐㻌㼓㼍㼕㼚㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻙
㻙
㻙
㻔㻜㻕
㻙
㻙
㻾㼑㼘㼍㼠㼑㼐㻌㼘㼛㼟㼟㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼙㼜㼍㼕㼞㼙㼑㼚㼠㻌㼘㼛㼟㼟㻌㼛㼚㻌㼙㼍㼞㼗㼑㼠㼍㼎㼘㼑㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㼀㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐 㼍㼚 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠 㼘㼛㼟㼟 㼛㼒 \㻟㻣㻜 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻞 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻞㻟 㼠㼔㼛㼡㼟㼍㼚㼐 䠅 㼕㼚 㼒㼕㼟㼏㼍㼘 㻞㻜㻝㻝 㼍㼚㼐 㼒㼕㼟㼏㼍㼘㻞㻜㻝㻞㻘 㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻘 㼛㼚 㼍㼢㼍㼕㼘㼍㼎㼘㼑㻙㼒㼛㼞㻙㼟㼍㼘㼑㼟 㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚 㼃㼔㼑㼚 㼍㼜㼜㼘㼥㼕㼚㼓 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠 㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻘 㼕㼒 㼠㼔㼑 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼍㼠 㼠㼔㼑㼑㼚㼐 㼛㼒 㼠㼔㼑 㼠㼑㼞㼙 㼔㼍㼟 㼒㼍㼘㼘㼑㼚 㼎㼥 㼙㼛㼞㼑 㼠㼔㼍㼚 㻡㻜㻑 㼒㼞㼛㼙 㼠㼔㼑 㼍㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚 㼜㼞㼕㼏㼑㻘 㼍㼚 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠 㼘㼛㼟㼟 㼕㼟 㼍㼜㼜㼘㼕㼑㼐 㼠㼛 㼠㼔㼑 㼑㼚㼠㼕㼞㼑㼍㼙㼛㼡㼚㼠㻚 㻵㼒 㼠㼔㼑 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑 㼔㼍㼟 㼒㼍㼘㼘㼑㼚 㼎㼥 㼍㼜㼜㼞㼛㼤㼕㼙㼍㼠㼑㼘㼥 㻟㻜㻑 㼠㼛 㻡㻜㻑㻘 㼍㼚 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠 㼘㼛㼟㼟 㼕㼟 㼍㼜㼜㼘㼕㼑㼐 㼠㼛 㼠㼔㼑 㼍㼙㼛㼡㼚㼠㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌㼍㼟㻌㼚㼑㼏㼑㼟㼟㼍㼞㼥㻌㼍㼒㼠㼑㼞㻌㼏㼛㼚㼟㼕㼐㼑㼞㼕㼚㼓㻌㼠㼔㼑㻌㼜㼛㼟㼟㼕㼎㼕㼘㼕㼠㼥㻌㼛㼒㻌㼞㼑㼏㼛㼢㼑㼞㼥㻘㻌㼑㼠㼏㻚61㻢㻚㻌㻵㼚㼢㼑㼚㼠㼛㼞㼕㼑㼟㻵㼚㼢㼑㼚㼠㼛㼞㼕㼑㼟㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼏㼛㼚㼟㼕㼟㼠㼑㼐㻌㼛㼒㻌㼠㼔㼑㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻦㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻹㼑㼞㼏㼔㼍㼚㼐㼕㼟㼑㻌㼍㼚㼐㻌㼒㼕㼚㼕㼟㼔㼑㼐㻌㼓㼛㼛㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻥㻘㻜㻝㻡
㼰㻝㻜㻘㻜㻥㻥
㻥㻘㻝㻞㻣㻝㻜㻘㻜㻡㻟
㼃㼛㼞㼗㻙㼕㼚㻙㼜㼞㼛㼏㼑㼟㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻾㼍㼣㻌㼙㼍㼠㼑㼞㼕㼍㼘㼟㻌㼍㼚㼐㻌㼟㼡㼜㼜㼘㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻤㻘㻝㻠㻠
㻣㻘㻥㻠㻣
㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻞㻢㻘㻞㻤㻤
㼰㻞㻤㻘㻝㻜㻝

㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻐㻝㻝㻢㻘㻢㻠㻟
㻝㻝㻢㻘㻝㻝㻞
㻥㻝㻘㻣㻤㻣
㻐㻟㻞㻠㻘㻡㻢㻢㻣㻚 㻺㼛㼠㼑㼟 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑 㼙㼍㼠㼡㼞㼕㼚㼓 㼛㼚 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞㻘 㼣㼔㼕㼏㼔 㼣㼑㼞㼑 㼎㼍㼚㼗㼔㼛㼘㼕㼐㼍㼥㼟
㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞㻘 㼠㼔㼑 㼑㼚㼐 㼛㼒 㼠㼔㼑 㼜㼑㼞㼕㼛㼐㻘 㼣㼑㼞㼑 㼎㼍㼚㼗 㼔㼛㼘㼕㼐㼍㼥㼟㻚 㻺㼛㼠㼑㼟 㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑 㼙㼍㼠㼡㼞㼕㼚㼓 㼛㼚㼠㼔㼛㼟㼑 㼐㼍㼠㼑㼟 㼣㼑㼞㼑 㼟㼑㼠㼠㼘㼑㼐 㼛㼚 㼠㼔㼑 㼒㼛㼘㼘㼛㼣㼕㼚㼓 㼎㼡㼟㼕㼚㼑㼟㼟 㼐㼍㼥㻚 㼀㼔㼑㼞㼑㼒㼛㼞㼑㻘 㼚㼛㼠㼑㼟 㼕㼚 㼠㼔㼑 㼍㼙㼛㼡㼚㼠 㼛㼒 \㻥㻟㻢 㼙㼕㼘㼘㼕㼛㼚 㼣㼑㼞㼑 㼕㼚㼏㼘㼡㼐㼑㼐㼕㼚 㼠㼔㼑 㼑㼚㼐㼕㼚㼓 㼎㼍㼘㼍㼚㼏㼑 㼍㼠 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㼚㼛㼠㼑㼟 㼕㼚 㼠㼔㼑 㼍㼙㼛㼡㼚㼠 㼛㼒 \㻟㻝㻤 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻟㻘㻢㻣㻞 㼠㼔㼛㼡㼟㼍㼚㼐㻕 㼣㼑㼞㼑 㼕㼚㼏㼘㼡㼐㼑㼐 㼕㼚㼠㼔㼑㻌㼑㼚㼐㼕㼚㼓㻌㼎㼍㼘㼍㼚㼏㼑㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻚㻤㻚㻌㻿㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌㼘㼛㼍㼚㼟㻌㼍㼚㼐㻌㼘㼛㼚㼓㻙㼠㼑㼞㼙㻌㼐㼑㼎㼠㻿㼔㼛㼞㼠㻙㼠㼑㼞㼙 㼘㼛㼍㼚㼟 㼍㼞㼑 㼓㼑㼚㼑㼞㼍㼘㼘㼥 㼞㼑㼜㼞㼑㼟㼑㼚㼠㼑㼐 㼎㼥 㼎㼍㼚㼗 㼚㼛㼠㼑㼟 㼣㼕㼠㼔 㼍㼚㼚㼡㼍㼘 㼕㼚㼠㼑㼞㼑㼟㼠 㼞㼍㼠㼑㼟 㼞㼍㼚㼓㼕㼚㼓 㼒㼞㼛㼙 㻜㻚㻣㻡㻑 㼠㼛 㻝㻠㻚㻞㻜㻑 㼍㼚㼐㻜㻚㻠㻥㻑㻌㼠㼛㻌㻝㻞㻚㻞㻠㻑㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻘㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚㻸㼛㼚㼓㻙㼠㼑㼞㼙㻌㼐㼑㼎㼠㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼏㼛㼚㼟㼕㼟㼠㼑㼐㻌㼛㼒㻌㼠㼔㼑㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻦㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㼁㼚㼟㼑㼏㼡㼞㼑㼐㻦㻝㻚㻥㻤㻑㻌㼎㼛㼚㼐㼟㻌㼐㼡㼑㻌㼕㼚㻌㻞㻜㻝㻠㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻸㼛㼍㼚㼟㻌㼒㼞㼛㼙㻌㼎㼍㼚㼗㼟㻌㼐㼡㼑㻌㼟㼑㼞㼕㼍㼘㼘㼥㻌㼒㼞㼛㼙㻌㻞㻜㻝㻟㻌㼠㼛㻌㻞㻜㻞㻞㼍㼠㻌㼞㼍㼠㼑㼟㻌㼒㼞㼛㼙㻌㻜㻚㻣㻢㻑㻌㼠㼛㻌㻤㻚㻜㻜㻑㻌㼜㼑㼞㻌㼍㼚㼚㼡㼙㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻸㼑㼍㼟㼑㻌㼛㼎㼘㼕㼓㼍㼠㼕㼛㼚㼟㻌㼍㼠㻌㻣㻚㻠㻑㻌㼙㼍㼠㼡㼞㼕㼚㼓㻌㼟㼑㼞㼕㼍㼘㼘㼥㻌㼠㼔㼞㼛㼡㼓㼔㻌㻞㻜㻝㻣㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻯㼡㼞㼞㼑㼚㼠㻌㼜㼛㼞㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻸㼛㼚㼓㻙㼠㼑㼞㼙㻌㼐㼑㼎㼠㻘㻌㼘㼑㼟㼟㻌㼏㼡㼞㼞㼑㼚㼠㻌㼜㼛㼞㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞

㼰㻝㻜㻘㻜㻜㻜

㼰㻝㻜㻘㻜㻜㻜

㻐㻝㻝㻡㻘㻡㻜㻜

㻝㻘㻤㻞㻠㻟㻤㻝㻝㻞㻘㻞㻜㻡

㻟㻘㻟㻟㻡㻠㻠㻣㻝㻟㻘㻣㻤㻟

㻟㻤㻘㻡㻝㻥
㻡㻘㻝㻢㻞㻝㻡㻥㻘㻝㻥㻟

㻔㻢㻢㻜㻕㼰㻝㻝㻘㻡㻠㻠

㻔㻝㻘㻟㻤㻤㻕
㼰㻝㻞㻘㻟㻥㻠

㻔㻝㻢㻘㻜㻟㻝㻕
㻐㻝㻠㻟㻘㻝㻡㻜

㼀㼔㼑㻌㼍㼓㼓㼞㼑㼓㼍㼠㼑㻌㼍㼚㼚㼡㼍㼘㻌㼙㼍㼠㼡㼞㼕㼠㼕㼑㼟㻌㼛㼒㻌㼘㼛㼚㼓㻙㼠㼑㼞㼙㻌㼐㼑㼎㼠㻌㼛㼡㼠㼟㼠㼍㼚㼐㼕㼚㼓㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼣㼑㼞㼑㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㼅㼑㼍㼞㻌㼑㼚㼐㼕㼚㼓㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻞㻜㻝㻟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻝㻘㻟㻤㻤
㻞㻜㻝㻠㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻝㻜㻘㻡㻥㻣
㻞㻜㻝㻡㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻡㻝㻥㻞㻜㻝㻢㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻟㻞㻤㻞㻜㻝㻣㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻞㻟㻣㼀㼔㼑㼞㼑㼍㼒㼠㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻣㻝㻞㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚 㼰㻝㻟㻘㻣㻤㻟㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻐㻝㻢㻘㻜㻟㻝
㻝㻞㻞㻘㻟㻥㻡
㻡㻘㻥㻥㻠
㻟㻘㻣㻤㻤
㻞㻘㻣㻟㻣
㻤㻘㻞㻞㻟
㻐㻝㻡㻥㻘㻝㻥㻟㻭㼟 㼛㼒 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞㻘 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼚㼐 㼕㼠㼟 㻝㻝 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟 㼔㼍㼐 㼑㼚㼠㼑㼞㼑㼐 㼕㼚㼠㼛 㼍㼓㼞㼑㼑㼑㼙㼑㼚㼠㼟 㼒㼛㼞 㼎㼍㼚㼗 㼛㼢㼑㼞㼐㼞㼍㼒㼠㼟 㼛㼞㼘㼛㼍㼚㻌㼏㼛㼙㼙㼕㼠㼙㼑㼚㼠㼟㻌㼣㼕㼠㼔㻌㻝㻞㻌㼎㼍㼚㼗㼟㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㼀㼔㼑㻌㼙㼍㼤㼕㼙㼡㼙㻌㼍㼓㼓㼞㼑㼓㼍㼠㼑㻌㼜㼞㼕㼚㼏㼕㼜㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻝㻣㻘㻟㻤㻤
㻐㻞㻜㻜㻘㻤㻟㻝
㻝㻢㻘㻠㻠㻣
㻭㼙㼛㼡㼚㼠㻌㼡㼠㼕㼘㼕㼦㼑㼐㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻝㻘㻠㻞㻠㻮㼍㼘㼍㼚㼏㼑㻌㼍㼢㼍㼕㼘㼍㼎㼘㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻝㻡㻘㻥㻢㻠
㻐㻝㻤㻠㻘㻟㻤㻠

Annual Report 2012 | 62

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻥㻚㻌㻱㼙㼜㼘㼛㼥㼑㼑㼟㻓㻌㼟㼑㼢㼑㼞㼍㼚㼏㼑㻌㼍㼚㼐㻌㼜㼑㼚㼟㼕㼛㼚㻌㼎㼑㼚㼑㼒㼕㼠㼟㻻㼡㼠㼘㼕㼚㼑㻌㼛㼒㻌㼍㼐㼛㼜㼠㼑㼐㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼜㼑㼚㼟㼕㼛㼚㻌㼒㼡㼚㼐㼀㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼚㼐 㼐㼛㼙㼑㼟㼠㼕㼏 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟 㼔㼍㼢㼑 㼍㼐㼛㼜㼠㼑㼐 㼍 㼐㼑㼒㼕㼚㼑㼐 㼏㼛㼚㼠㼞㼕㼎㼡㼠㼕㼛㼚 㼜㼑㼚㼟㼕㼛㼚 㼜㼘㼍㼚 㼍㼚㼐 㼍 㼐㼑㼒㼕㼚㼑㼐 㼎㼑㼚㼑㼒㼕㼠㼜㼑㼚㼟㼕㼛㼚 㼜㼘㼍㼚 㻔㼏㼍㼟㼔 㼎㼍㼘㼍㼚㼏㼑 㼠㼥㼜㼑㻕㻚 㼀㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼚㼐 㼟㼛㼙㼑 㼐㼛㼙㼑㼟㼠㼕㼏 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟 㼔㼍㼢㼑 㼎㼑㼑㼚 㼙㼑㼙㼎㼑㼞㼟 㼛㼒 㼠㼔㼑 㻱㼙㼜㼘㼛㼥㼑㼑㼟㻓㻼㼑㼚㼟㼕㼛㼚 㻲㼡㼚㼐 㼛㼒 㼠㼔㼑 㻷㼥㼛㼠㼛 㻹㼍㼏㼔㼕㼚㼑㼞㼥 㻒 㻹㼑㼠㼍㼘 㻵㼚㼐㼡㼟㼠㼞㼥 㻔㼏㼛㼙㼜㼞㼑㼔㼑㼚㼟㼕㼢㼑 㼠㼥㼜㼑㻕㻚 㼀㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼚㼐 㼟㼛㼙㼑 㼐㼛㼙㼑㼟㼠㼕㼏 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼡㼟㼑㻌㼎㼛㼠㼔㻌㼐㼑㼒㼕㼚㼑㼐㻌㼏㼛㼚㼠㼞㼕㼎㼡㼠㼕㼛㼚㻌㼍㼚㼐㻌㼐㼑㼒㼕㼚㼑㼐㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼜㼘㼍㼚㼟㻚㻔㻝㻕㻌㼀㼔㼑㻌㼒㼡㼚㼐㼑㼐㻌㼟㼠㼍㼠㼡㼟㻌㼛㼒㻌㼠㼔㼑㻌㼙㼡㼘㼠㼕㻙㼑㼙㼜㼘㼛㼥㼑㼞㻌㼜㼑㼚㼟㼕㼛㼚㻌㼜㼘㼍㼚㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㻔㼍㼢㼍㼕㼘㼍㼎㼘㼑㻌㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼍㼟㻌㼛㼒㻌㻹㼍㼞㼏㼔㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻞㻜㻝㻞㻕㻘䚷㼠㼛㻌㼣㼔㼕㼏㼔㻌㼏㼛㼚㼠㼞㼕㼎㼡㼠㼕㼛㼚㼟㻌㼣㼑㼞㼑㻌㼞㼑㼏㼛㼞㼐㼑㼐㻌㼍㼟㻌㼚㼑㼠㻌㼜㼑㼞㼕㼛㼐㼕㼏㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㻌㼏㼛㼟㼠㼟㻘㻌㼣㼍㼟㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㻔㼍㻕㻌㻲㼡㼚㼐㼑㼐㻌㼟㼠㼍㼠㼡㼟㻌㼛㼒㻌㼜㼑㼚㼟㼕㼛㼚㻌㼜㼘㼍㼚㼟㻌㻲㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼜㼘㼍㼚㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻼㼑㼚㼟㼕㼛㼚㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼛㼎㼘㼕㼓㼍㼠㼕㼛㼚㻌㼞㼑㼏㼛㼞㼐㼑㼐㻌㼎㼥㻌㼜㼑㼚㼟㼕㼛㼚㻌㼒㼡㼚㼐㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻺㼑㼠㻌㼎㼍㼘㼍㼚㼏㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㼰㻠㻥㻘㻞㻠㻡
㼰㻠㻢㻘㻡㻟㻟
㻣㻣㻘㻥㻥㻝
㻣㻣㻘㻝㻟㻤
㻔㼰㻞㻤㻘㻣㻠㻡㻕㻔㼰㻟㻜㻘㻢㻜㻠㻕㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻐㻡㻟㻣㻘㻠㻡㻢
㻤㻥㻜㻘㻥㻠㻠
㻔㻐㻟㻡㻟㻘㻠㻣㻢㻕㻔㼎㻕 㼀㼔㼑 㼞㼍㼠㼕㼛 㼛㼒 㼜㼑㼚㼟㼕㼛㼚 㼜㼞㼑㼙㼕㼡㼙㼟 㼑㼤㼜㼑㼚㼟㼑㼐 㼒㼞㼛㼙 㻹㼍㼞㼏㼔 㻝㻘 㻞㻜㻝㻞 㼠㼛 㻹㼍㼞㼏㼔 㻟㻝㻘 㻞㻜㻝㻞 㼎㼥 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼚㼐 㼕㼠㼟 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟 㼠㼛 㼠㼔㼑 㼠㼛㼠㼍㼘㼜㼞㼑㼙㼕㼡㼙㻌㼍㼙㼛㼡㼚㼠㻌㼣㼍㼟㻌㻝㻡㻚㻡㻡㻑㻌㻔㻝㻠㻚㻟㻝㻑㻌㼒㼞㼛㼙㻌㻹㼍㼞㼏㼔㻌㻝㻘㻌㻞㻜㻝㻝㻌㼠㼛㻌㻹㼍㼞㼏㼔㻌㻟㻝㻘㻌㻞㻜㻝㻝㻕㻚㻺㼛㼠㼑㻌㻝㻚 㻺㼑㼠 㼎㼍㼘㼍㼚㼏㼑 㼞㼑㼟㼡㼘㼠㼑㼐 㼒㼞㼛㼙 㼠㼔㼑 㼜㼞㼕㼛㼞 㼟㼑㼞㼢㼕㼏㼑 㼏㼛㼟㼠 㼛㼒 \㻞㻜㻘㻤㻜㻡 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻞㻜㻘㻢㻜㻠 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻞㻟㻣㻘㻥㻣㻢 㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘 㼠㼔㼑 㼍㼐㼐㼕㼠㼕㼛㼚 㼠㼛㼠㼔㼑 㼢㼍㼘㼡㼍㼠㼕㼛㼚 㼛㼒 㼜㼘㼍㼚 㼍㼟㼟㼑㼠㼟 㼛㼒 \㻟㻘㻟㻠㻜 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻜 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻜 㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘 㼍㼚㼐 㼠㼔㼑 㼟㼔㼛㼞㼠㼍㼓㼑 㼛㼒 㼞㼑㼟㼑㼞㼢㼑 㼒㼛㼞 㼜㼘㼍㼚㼍㼟㼟㼑㼠㼟 㼛㼒 \㻠㻘㻡㻥㻥 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻝㻜㻘㻜㻜㻜 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻝㻝㻡㻘㻡㻜㻜 㼠㼔㼛㼡㼟㼍㼚㼐㻕 㼒㼛㼞 㼠㼔㼑 㼥㼑㼍㼞㼟 㼑㼚㼐㼑㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼏㼑㼙㼎㼑㼞 㻟㻝㻘㻞㻜㻝㻞㻘㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚㻺㼛㼠㼑㻌㻞㻚 㻼㼞㼕㼛㼞㻌㼟㼑㼞㼢㼕㼏㼑㻌㼏㼛㼟㼠㻌㼕㼟㻌㼍㼙㼛㼞㼠㼕㼦㼑㼐㻌㼛㼢㼑㼞㻌㻞㻜㻌㼥㼑㼍㼞㼟㻚㻺㼛㼠㼑㻌㻟㻚 㼀㼔㼑 㼜㼑㼞㼏㼑㼚㼠㼍㼓㼑 㼛㼒 㻴㻻㻾㻵㻮㻭㻓㼟 㼏㼛㼚㼠㼞㼕㼎㼡㼠㼕㼛㼚 㼠㼛 㼠㼔㼑 㼙㼡㼘㼠㼕㻙㼑㼙㼜㼘㼛㼥㼑㼞 㼜㼑㼚㼟㼕㼛㼚 㼜㼘㼍㼚 㼐㼑㼟㼏㼞㼕㼎㼑㼐 㼍㼎㼛㼢㼑 㼕㼚 㻔㻝㻕㻔㼎㻕 㼟㼔㼛㼡㼘㼐 㼚㼛㼠 㼎㼑㼏㼛㼚㼟㼠㼞㼡㼑㼐㻌㼍㼟㻌㼠㼔㼑㻌㼜㼑㼞㼏㼑㼚㼠㼍㼓㼑㻌㼛㼒㻌㻴㻻㻾㻵㻮㻭㻓㼟㻌㼍㼏㼠㼡㼍㼘㻌㼛㼎㼘㼕㼓㼍㼠㼕㼛㼚㻚㻔㻞㻕㻌㻸㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌㼒㼛㼞㻌㼑㼙㼜㼘㼛㼥㼑㼑㼟㻓㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼏㼛㼚㼟㼕㼟㼠㼑㼐㻌㼛㼒㻌㼠㼔㼑㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻦䚷㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻝㻞㻛㻞㻜㻝㻞
㻼㼞㼛㼖㼑㼏㼠㼑㼐㻌㼎㼑㼚㼑㼒㼕㼠㻌㼛㼎㼘㼕㼓㼍㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㼰㻡㻘㻤㻟㻞㻕
㻔㼰㻢㻘㻠㻟㻞㻕
㻔㻐㻣㻠㻘㻞㻤㻥㻕
㻟㻘㻞㻤㻝
㻠㻘㻞㻠㻜
㻠㻤㻘㻥㻣㻞
㻼㼑㼚㼟㼕㼛㼚㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼁㼚㼒㼡㼚㼐㼑㼐㻌㼜㼞㼛㼖㼑㼏㼠㼑㼐㻌㼎㼑㼚㼑㼒㼕㼠㻌㼛㼎㼘㼕㼓㼍㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻘㻡㻡㻜㻕
㻔㻞㻘㻝㻥㻝㻕
㻔㻞㻡㻘㻟㻜㻢㻕
㻝㻝㼁㼚㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌㼍㼏㼠㼡㼍㼞㼕㼍㼘㻌㼐㼕㼒㼒㼑㼞㼑㼚㼏㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻡㻟㻢㻝㼁㼚㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌㼜㼞㼕㼛㼞㻌㼟㼑㼞㼢㼕㼏㼑㻌㼏㼛㼟㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻞㻟㻤
㻝㻞㻟
㻝㻘㻠㻞㻜
㻱㼙㼜㼘㼛㼥㼑㼑㼟㻓㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㼰㻝㻘㻣㻣㻡㻕
㻔㼰㻞㻘㻜㻢㻢㻕
㻔㻐㻞㻟㻘㻤㻢㻞㻕㻱㼙㼜㼘㼛㼥㼑㼑㼟㻓㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼑㼤㼜㼑㼚㼟㼑㻌㼒㼛㼞㻌㼠㼔㼑㻌㼥㼑㼍㼞㼟㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼏㼛㼙㼜㼞㼕㼟㼑㼐㻌㼠㼔㼑㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻦㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻝㻞㻛㻞㻜㻝㻞
㻿㼑㼞㼢㼕㼏㼑㻌㼏㼛㼟㼠㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㼰㻣㻠㻠
㼰㻤㻠㻡
㻐㻥㻘㻣㻡㻥
㻝㻠㻞
㻝㻠㻡
㻝㻘㻢㻣㻠
㻵㼚㼠㼑㼞㼑㼟㼠㻌㼑㼤㼜㼑㼚㼟㼑㻌㼛㼚㻌㼜㼞㼛㼖㼑㼏㼠㼑㼐㻌㼎㼑㼚㼑㼒㼕㼠㻌㼛㼎㼘㼕㼓㼍㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻔㻢㻣㻕
㻔㻣㻝㻕
㻔㻤㻞㻜㻕
㻱㼤㼜㼑㼏㼠㼑㼐㻌㼞㼑㼠㼡㼞㼚㻌㼛㼚㻌㼜㼘㼍㼚㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻭㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㼛㼒㻌㼍㼏㼠㼡㼍㼞㼕㼍㼘㻌㼐㼕㼒㼒㼑㼞㼑㼚㼏㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻝㻢㻟
㻞㻜㻥
㻞㻘㻠㻝㻟
㻭㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㼛㼒㻌㼜㼞㼕㼛㼞㻌㼟㼑㼞㼢㼕㼏㼑㻌㼏㼛㼟㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻝㻝㻣
㻝㻝㻣
㻝㻘㻟㻡㻝
㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻟㻥㻢
㻠㻟㻤
㻡㻘㻜㻡㻤
㻐㻝㻥㻘㻠㻡㻜
㻾㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼑㼤㼜㼑㼚㼟㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻝㻘㻠㻥㻣
㼰㻝㻘㻢㻤㻠
㻺㼛㼠㼑㻌㻝㻚 㻼㼞㼑㼙㼕㼡㼙㼟 㼛㼚 㼠㼔㼑 㼏㼛㼚㼠㼞㼕㼎㼡㼠㼛㼞㼥 㼒㼡㼚㼐㼑㼐 㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠 㼜㼘㼍㼚 㼕㼚 㼠㼔㼑 㼍㼙㼛㼡㼚㼠 㼛㼒 \㻟㻤㻣 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻠㻠㻣 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻡㻘㻝㻢㻞 㼠㼔㼛㼡㼟㼍㼚㼐㻕㼑㼤㼜㼑㼚㼟㼑㼐㻌㼒㼛㼞㻌㼠㼔㼑㻌㼥㼑㼍㼞㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻘㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻘㻌㼣㼑㼞㼑㻌㼍㼘㼟㼛㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌㼕㼚㻌㼟㼑㼞㼢㼕㼏㼑㻌㼏㼛㼟㼠㻚㻺㼛㼠㼑㻌㻞㻚 㻎㻻㼠㼔㼑㼞㻎㻌㼕㼟㻌㼜㼘㼍㼚㻌㼜㼍㼞㼠㼕㼏㼕㼜㼍㼚㼠㼟㻓㻌㼏㼛㼚㼠㼞㼕㼎㼡㼠㼕㼛㼚㻌㼠㼛㻌㼠㼔㼑㻌㼐㼑㼒㼕㼚㼑㼐㻌㼏㼛㼚㼠㼞㼕㼎㼡㼠㼕㼛㼚㻌㼜㼑㼚㼟㼕㼛㼚㻌㼜㼘㼍㼚㻚㻭㼟㼟㼡㼙㼜㼠㼕㼛㼚㼟㻌㼡㼟㼑㼐㻌㼣㼑㼞㼑㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㻰㼕㼟㼏㼛㼡㼚㼠㻌㼞㼍㼠㼑㻌㻔㼙㼍㼕㼚㼘㼥㻕㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻱㼤㼜㼑㼏㼠㼑㼐㻌㼞㼍㼠㼑㻌㼛㼒㻌㼞㼑㼠㼡㼞㼚㻌㼛㼚㻌㼜㼘㼍㼚㻌㼍㼟㼟㼑㼠㼟㻌㻔㼙㼍㼕㼚㼘㼥㻕㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻝㻞㻛㻞㻜㻝㻝
㻞㻚㻜㻜㻑
㻝㻚㻡㻜㻑

㻝㻞㻛㻞㻜㻝㻞
㻞㻚㻜㻜㻑
㻝㻚㻡㻜㻑

㼀㼔㼑 㼑㼟㼠㼕㼙㼍㼠㼑㼐 㼍㼙㼛㼡㼚㼠 㼛㼒 㼍㼘㼘 㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠 㼎㼑㼚㼑㼒㼕㼠㼟 㼠㼛 㼎㼑 㼜㼍㼕㼐 㼍㼠 㼒㼡㼠㼡㼞㼑 㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠 㼐㼍㼠㼑㼟 㼕㼟 㼍㼘㼘㼛㼏㼍㼠㼑㼐 㼑㼝㼡㼍㼘㼘㼥 㼠㼛 㼑㼍㼏㼔 㼟㼑㼞㼢㼕㼏㼑 㼥㼑㼍㼞 㼡㼟㼕㼚㼓㼠㼔㼑 㼑㼟㼠㼕㼙㼍㼠㼑㼐 㼠㼛㼠㼍㼘 㼚㼡㼙㼎㼑㼞 㼛㼒 㼟㼑㼞㼢㼕㼏㼑 㼥㼑㼍㼞㼟㻚 㻭㼏㼠㼡㼍㼞㼕㼍㼘 㼐㼕㼒㼒㼑㼞㼑㼚㼏㼑㼟 㼍㼞㼑 㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐 㼕㼚 㼠㼔㼑 㼕㼚㼏㼛㼙㼑 㼟㼠㼍㼠㼑㼙㼑㼚㼠 㼡㼟㼕㼚㼓 㼠㼔㼑 㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑㼙㼑㼠㼔㼛㼐 㼙㼍㼕㼚㼘㼥 㼛㼢㼑㼞 㻡 㼥㼑㼍㼞㼟㻚 㻼㼞㼕㼛㼞 㼟㼑㼞㼢㼕㼏㼑 㼏㼛㼟㼠㼟 㼍㼞㼑 㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐 㼕㼚 㼠㼔㼑 㼕㼚㼏㼛㼙㼑 㼟㼠㼍㼠㼑㼙㼑㼚㼠 㼡㼟㼕㼚㼓 㼠㼔㼑 㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑 㼙㼑㼠㼔㼛㼐 㼙㼍㼕㼚㼘㼥 㼛㼢㼑㼞㻝㻜㻌㼥㼑㼍㼞㼟㻚63㻝㻜㻚㻌㻺㼑㼠㻌㼍㼟㼟㼑㼠㼟㼁㼚㼐㼑㼞 㻶㼍㼜㼍㼚㼑㼟㼑 㼘㼍㼣㼟 㼍㼚㼐 㼞㼑㼓㼡㼘㼍㼠㼕㼛㼚㼟㻘 㼠㼔㼑 㼑㼚㼠㼕㼞㼑 㼍㼙㼛㼡㼚㼠 㼜㼍㼕㼐 㼒㼛㼞 㼚㼑㼣 㼟㼔㼍㼞㼑㼟 㼕㼟 㼞㼑㼝㼡㼕㼞㼑㼐 㼠㼛 㼎㼑 㼐㼑㼟㼕㼓㼚㼍㼠㼑㼐 㼍㼟 㼏㼛㼙㼙㼛㼚 㼟㼠㼛㼏㼗㻚 㻴㼛㼣㼑㼢㼑㼞㻘㼍 㼏㼛㼙㼜㼍㼚㼥 㼙㼍㼥㻘 㼎㼥 㼍 㼞㼑㼟㼛㼘㼡㼠㼕㼛㼚 㼛㼒 㼠㼔㼑 㻮㼛㼍㼞㼐 㼛㼒 㻰㼕㼞㼑㼏㼠㼛㼞㼟㻘 㼐㼑㼟㼕㼓㼚㼍㼠㼑 㼍㼚 㼍㼙㼛㼡㼚㼠 㼚㼛㼠 㼑㼤㼏㼑㼑㼐㼕㼚㼓 㼛㼚㼑 㼔㼍㼘㼒 㼛㼒 㼠㼔㼑 㼜㼞㼕㼏㼑 㼛㼒 㼠㼔㼑 㼚㼑㼣 㼟㼔㼍㼞㼑㼟 㼍㼟㼍㼐㼐㼕㼠㼕㼛㼚㼍㼘㻌㼜㼍㼕㼐㻙㼕㼚㻌㼏㼍㼜㼕㼠㼍㼘㻘㻌㼣㼔㼕㼏㼔㻌㼕㼟㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌㼕㼚㻌㼏㼍㼜㼕㼠㼍㼘㻌㼟㼡㼞㼜㼘㼡㼟㻚㼁㼚㼐㼑㼞 㼠㼔㼑 㻶㼍㼜㼍㼚㼑㼟㼑 㻯㼛㼞㼜㼛㼞㼍㼠㼑 㻸㼍㼣 㻔㻎㼠㼔㼑 㻸㼍㼣㻎㻕㻘 㼕㼚 㼏㼍㼟㼑㼟 㼣㼔㼑㼞㼑 㼍 㼐㼕㼢㼕㼐㼑㼚㼐 㼐㼕㼟㼠㼞㼕㼎㼡㼠㼕㼛㼚 㼛㼒 㼟㼡㼞㼜㼘㼡㼟 㼕㼟 㼙㼍㼐㼑㻘 㼠㼔㼑 㼟㼙㼍㼘㼘㼑㼞 㼛㼒 㼍㼚 㼍㼙㼛㼡㼚㼠 㼑㼝㼡㼍㼘㼠㼛 㻝㻜㻑 㼛㼒 㼠㼔㼑 㼐㼕㼢㼕㼐㼑㼚㼐 㼛㼞 㼠㼔㼑 㼑㼤㼏㼑㼟㼟㻘 㼕㼒 㼍㼚㼥㻘 㼛㼒 㻞㻡㻑 㼛㼒 㼏㼛㼙㼙㼛㼚 㼟㼠㼛㼏㼗 㼛㼢㼑㼞 㼠㼔㼑 㼠㼛㼠㼍㼘 㼛㼒 㼍㼐㼐㼕㼠㼕㼛㼚㼍㼘 㼜㼍㼕㼐㻙㼕㼚 㼏㼍㼜㼕㼠㼍㼘 㼍㼚㼐 㼘㼑㼓㼍㼘 㼑㼍㼞㼚㼕㼚㼓㼟 㼞㼑㼟㼑㼞㼢㼑㼙㼡㼟㼠 㼎㼑 㼟㼑㼠 㼍㼟㼕㼐㼑 㼍㼟 㼍㼐㼐㼕㼠㼕㼛㼚㼍㼘 㼜㼍㼕㼐㻙㼕㼚 㼏㼍㼜㼕㼠㼍㼘 㼛㼞 㼘㼑㼓㼍㼘 㼑㼍㼞㼚㼕㼚㼓㼟 㼞㼑㼟㼑㼞㼢㼑㻚 㻸㼑㼓㼍㼘 㼑㼍㼞㼚㼕㼚㼓㼟 㼞㼑㼟㼑㼞㼢㼑 㼕㼟 㼕㼚㼏㼘㼡㼐㼑㼐 㼕㼚 㼞㼑㼠㼍㼕㼚㼑㼐 㼑㼍㼞㼚㼕㼚㼓㼟 㼕㼚 㼠㼔㼑㼍㼏㼏㼛㼙㼜㼍㼚㼥㼕㼚㼓㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼎㼍㼘㼍㼚㼏㼑㻌㼟㼔㼑㼑㼠㼟㻚㻌㻭㼐㼐㼕㼠㼕㼛㼚㼍㼘 㼜㼍㼕㼐㻙㼕㼚 㼏㼍㼜㼕㼠㼍㼘 㼍㼚㼐 㼘㼑㼓㼍㼘 㼑㼍㼞㼚㼕㼚㼓㼟 㼞㼑㼟㼑㼞㼢㼑 㼙㼍㼥 㼚㼛㼠 㼎㼑 㼐㼕㼟㼠㼞㼕㼎㼡㼠㼑㼐 㼍㼟 㼐㼕㼢㼕㼐㼑㼚㼐㼟㻚 㼁㼚㼐㼑㼞 㼠㼔㼑 㻸㼍㼣㻘 㼍㼘㼘 㼍㼐㼐㼕㼠㼕㼛㼚㼍㼘 㼜㼍㼕㼐㻙㼕㼚 㼏㼍㼜㼕㼠㼍㼘 㼍㼚㼐 㼍㼘㼘㼘㼑㼓㼍㼘 㼑㼍㼞㼚㼕㼚㼓㼟 㼞㼑㼟㼑㼞㼢㼑 㼙㼍㼥 㼎㼑 㼠㼞㼍㼚㼟㼒㼑㼞㼞㼑㼐 㼠㼛 㼛㼠㼔㼑㼞 㼏㼍㼜㼕㼠㼍㼘 㼟㼡㼞㼜㼘㼡㼟 㼍㼚㼐 㼞㼑㼠㼍㼕㼚㼑㼐 㼑㼍㼞㼚㼕㼚㼓㼟㻘 㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻘 㼣㼔㼕㼏㼔 㼍㼞㼑 㼜㼛㼠㼑㼚㼠㼕㼍㼘㼘㼥 㼍㼢㼍㼕㼘㼍㼎㼘㼑 㼒㼛㼞㼐㼕㼢㼕㼐㼑㼚㼐㼟㻚㻌㻮㼛㼠㼔㻌㼛㼒㻌㼠㼔㼑㼟㼑㻌㼍㼜㼜㼞㼛㼜㼞㼕㼍㼠㼕㼛㼚㼟㻌㼓㼑㼚㼑㼞㼍㼘㼘㼥㻌㼞㼑㼝㼡㼕㼞㼑㻌㼍㻌㼞㼑㼟㼛㼘㼡㼠㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㼟㼔㼍㼞㼑㼔㼛㼘㼐㼑㼞㻓㼟㻌㼙㼑㼑㼠㼕㼚㼓㻚㼀㼔㼑 㼙㼍㼤㼕㼙㼡㼙 㼍㼙㼛㼡㼚㼠 㼠㼔㼍㼠 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼏㼍㼚 㼐㼕㼟㼠㼞㼕㼎㼡㼠㼑 㼍㼟 㼐㼕㼢㼕㼐㼑㼚㼐㼟 㼕㼟 㼏㼍㼘㼏㼡㼘㼍㼠㼑㼐 㼎㼍㼟㼑㼐 㼛㼚 㼠㼔㼑 㼚㼛㼚㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼒㼕㼚㼍㼚㼏㼕㼍㼘 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼕㼚㻌㼍㼏㼏㼛㼞㼐㼍㼚㼏㼑㻌㼣㼕㼠㼔㻌㻶㼍㼜㼍㼚㼑㼟㼑㻌㼘㼍㼣㼟㻌㼍㼚㼐㻌㼞㼑㼓㼡㼘㼍㼠㼕㼛㼚㼟㻚㻭㼠 㼠㼔㼑 㻮㼛㼍㼞㼐 㼛㼒 㻰㼕㼞㼑㼏㼠㼛㼞㼟㻓 㼙㼑㼑㼠㼕㼚㼓 㼔㼑㼘㼐 㼛㼚 㻲㼑㼎㼞㼡㼍㼞㼥 㻝㻠㻘 㻞㻜㻝㻟㻘 㼠㼔㼑 㻮㼛㼍㼞㼐 㼛㼒 㻰㼕㼞㼑㼏㼠㼛㼞㼟 㼍㼜㼜㼞㼛㼢㼑㼐 㼏㼍㼟㼔 㼐㼕㼢㼕㼐㼑㼚㼐㼟 㼕㼚 㼠㼔㼑 㼍㼙㼛㼡㼚㼠 㼛㼒\㻝㻘㻠㻤㻜 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻝㻣㻘㻜㻥㻠 㼠㼔㼛㼡㼟㼍㼚㼐㻕㻚 㼀㼔㼑 㼍㼜㼜㼞㼛㼜㼞㼕㼍㼠㼕㼛㼚 㼔㼍㼐 㼚㼛㼠 㼎㼑㼑㼚 㼍㼏㼏㼞㼡㼑㼐 㼕㼚 㼠㼔㼑 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼒㼕㼚㼍㼚㼏㼕㼍㼘 㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟 㼍㼟 㼛㼒 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘㻞㻜㻝㻞㻚㻌㻿㼡㼏㼔㻌㼍㼜㼜㼞㼛㼜㼞㼕㼍㼠㼕㼛㼚㼟㻌㼍㼞㼑㻌㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼜㼑㼞㼕㼛㼐㻌㼕㼚㻌㼣㼔㼕㼏㼔㻌㼠㼔㼑㼥㻌㼍㼞㼑㻌㼍㼜㼜㼞㼛㼢㼑㼐㻌㼎㼥㻌㼠㼔㼑㻌㻮㼛㼍㼞㼐㻌㼛㼒㻌㻰㼕㼞㼑㼏㼠㼛㼞㼟㻚㻝㻝㻚㻌㻿㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻌㻔㻝㻕㻌㻱㼤㼜㼑㼚㼟㼑㼟㻌㼍㼚㼐㻌㼕㼠㼑㼙㼟㻌㼞㼑㼘㼍㼠㼑㼐㻌㼠㼛㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻿㼑㼘㼘㼕㼚㼓㻘㻌㼓㼑㼚㼑㼞㼍㼘㻌㼍㼚㼐㻌㼍㼐㼙㼕㼚㼕㼟㼠㼞㼍㼠㼕㼢㼑㻌㼑㼤㼜㼑㼚㼟㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻢㻤㼰㻢㻟㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻐㻣㻞㻣㻔㻞㻕㻌㻿㼏㼍㼘㼑㻌㼍㼚㼐㻌㼙㼛㼢㼑㼙㼑㼚㼠㻌㻔㼒㼘㼡㼏㼠㼡㼍㼠㼕㼛㼚㻕㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻌㼛㼡㼠㼟㼠㼍㼚㼐㼕㼚㼓㻚㻌㼀㼔㼑㻌㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻌㼕㼟㻌㼟㼠㼍㼠㼑㼐㻌㼍㼒㼠㼑㼞㻌㼏㼛㼚㼢㼑㼞㼟㼕㼛㼚㻌㼕㼚㼠㼛㻌㼍㼚㻌㼑㼝㼡㼍㼘㻌㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻚㻔㼍㻕㻌㻰㼑㼠㼍㼕㼘㼟㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻺㼛㻚㻌㻞㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻺㼛㻚㻌㻟㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻺㼛㻚㻌㻝㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻺㼛㻚㻌㻠㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻠㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻠㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻠㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻠㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻝㻠㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼛㼒㼒㼕㼏㼑㼞㼟 㻝㻢㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼛㼒㼒㼕㼏㼑㼞㼟 㻝㻢㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼛㼒㼒㼕㼏㼑㼞㼟㻝㻟㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼛㼒㼒㼕㼏㼑㼞㼟㻼㼑㼞㼟㼛㼚㼟㻌㼓㼞㼍㼚㼠㼑㼐㻌㼛㼜㼠㼕㼛㼚㼟㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻯㼛㼙㼙㼛㼚㻌㼟㼠㼛㼏㼗㻯㼛㼙㼙㼛㼚㻌㼟㼠㼛㼏㼗㻯㼛㼙㼙㼛㼚㻌㼟㼠㼛㼏㼗㻯㼛㼙㼙㼛㼚㻌㼟㼠㼛㼏㼗㻺㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻌㼎㼥㻌㼠㼥㼜㼑㻌㼛㼒㻌㼟㼠㼛㼏㼗㻡㻠㻘㻞㻜㻜㻌㼟㼔㼍㼞㼑㼟㻞㻢㻘㻠㻜㻜㻌㼟㼔㼍㼞㼑㼟㻟㻝㻘㻜㻜㻜㻌㼟㼔㼍㼞㼑㼟㻞㻤㻘㻞㻜㻜㻌㼟㼔㼍㼞㼑㼟㻔㻺㼛㼠㼑㻌㻝㻕
㻭㼜㼞㼕㼘㻌㻞㻟㻘㻌㻞㻜㻝㻜㻭㼜㼞㼕㼘㻌㻞㻝㻘㻌㻞㻜㻝㻝㻭㼜㼞㼕㼘㻌㻝㻢㻘㻌㻞㻜㻜㻥㻭㼜㼞㼕㼘㻌㻞㻠㻘㻌㻞㻜㻝㻞㻰㼍㼠㼑㻌㼛㼒㻌㼓㼞㼍㼚㼠㻔㻺㼛㼠㼑㻌㻟㻕
㻔㻺㼛㼠㼑㻌㻟㻕
㻔㻺㼛㼠㼑㻌㻟㻕
㻔㻺㼛㼠㼑㻌㻟㻕
㼂㼑㼟㼠㼕㼚㼓㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㼟㻔㻺㼛㼠㼑㻌㻠㻕
㻔㻺㼛㼠㼑㻌㻠㻕
㻿㼑㼞㼢㼕㼏㼑㻌㼜㼑㼞㼕㼛㼐㻔㻺㼛㼠㼑㻌㻠㻕
㻔㻺㼛㼠㼑㻌㻠㻕
㻭㼜㼞㼕㼘㻌㻞㻠㻘㻌㻞㻜㻝㻜㻭㼜㼞㼕㼘㻌㻞㻡㻘㻌㻞㻜㻝㻞㻭㼜㼞㼕㼘㻌㻞㻞㻘㻌㻞㻜㻝㻝㻭㼜㼞㼕㼘㻌㻝㻣㻘㻌㻞㻜㻜㻥
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㻭㼜㼞㼕㼘㻌㻞㻟㻘㻌㻞㻜㻠㻜㻭㼜㼞㼕㼘㻌㻞㻠㻘㻌㻞㻜㻠㻞㻭㼜㼞㼕㼘㻌㻞㻝㻘㻌㻞㻜㻠㻝㻱㼤㼑㼞㼏㼕㼟㼑㻌㼜㼑㼞㼕㼛㼐㻭㼜㼞㼕㼘㻌㻝㻢㻘㻌㻞㻜㻟㻥㻺㼛㼠㼑㻌㻝㻚㻌㻿㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻌㼍㼞㼑㻌㼏㼛㼚㼢㼑㼞㼠㼕㼎㼘㼑㻌㼕㼚㼠㼛㻌㼍㼚㻌㼑㼝㼡㼍㼘㻌㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻚㻺㼛㼠㼑㻌㻞㻚㻌㼀㼛㻌㼑㼤㼑㼞㼏㼕㼟㼑㻌㼠㼔㼑㼟㼑㻌㼛㼜㼠㼕㼛㼚㼟㻘㻌㼠㼔㼑㻌㼜㼑㼞㼟㼛㼚㻌㼓㼞㼍㼚㼠㼑㼐㻌㼠㼔㼑㻌㼛㼜㼠㼕㼛㼚㻌㼕㼟㻌㼜㼞㼕㼚㼏㼕㼜㼍㼘㼘㼥㻌㼞㼑㼝㼡㼕㼞㼑㼐㻌㼠㼛㻌㼎㼑㻌㼍㻌㼐㼕㼞㼑㼏㼠㼛㼞㻘㻌㼍㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼍㼡㼐㼕㼠㼛㼞㻘㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㼍㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼛㼒㼒㼕㼏㼑㼞㻌㼛㼞㻌㼍㼚㻌㼑㼙㼜㼘㼛㼥㼑㼑㻌㼛㼒㻌㻴㻻㻾㻵㻮㻭㻘㻌㼑㼤㼏㼑㼜㼠㻌㼕㼚㻌㼏㼍㼟㼑㼟㻌㼛㼒㻌㼞㼑㼟㼕㼓㼚㼍㼠㼕㼛㼚㻌㼍㼠㻌㼠㼔㼑㻌㼑㼤㼜㼕㼞㼍㼠㼕㼛㼚㻌㼛㼒㻌㼠㼑㼞㼙㻘㻌㼕㼚㼢㼛㼘㼡㼚㼠㼍㼞㼥㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼛㼞㻌㼛㼠㼔㼑㼞㻌㼏㼕㼞㼏㼡㼙㼟㼠㼍㼚㼏㼑㼟㻌㼍㼜㼜㼞㼛㼢㼑㼐㻌㼎㼥㻌㼠㼔㼑㻌㻮㼛㼍㼞㼐㻌㼛㼒㻌㻰㼕㼞㼑㼏㼠㼛㼞㼟㻚㻺㼛㼠㼑㻌㻟㻚㻌㼂㼑㼟㼠㼕㼚㼓㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㼟㻌㼍㼚㼐㻌㼑㼤㼑㼞㼏㼕㼟㼑㻌㼜㼑㼞㼕㼛㼐㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻭㻌㼔㼛㼘㼐㼑㼞㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻌㼙㼍㼥㻌㼑㼤㼑㼞㼏㼕㼟㼑㻌㼠㼔㼑㻌㼛㼜㼠㼕㼛㼚㼟㻌㼒㼛㼞㻌㼍㻌㼜㼑㼞㼕㼛㼐㻌㼛㼒㻌㼠㼑㼚㻌㼐㼍㼥㼟㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌㼐㼍㼥㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻌㼠㼔㼑㻌㼐㼍㼠㼑㻌㼛㼚㻌㼣㼔㼕㼏㼔㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㼔㼑㻌㼞㼑㼟㼕㼓㼚㼟㻌㻔㼛㼞㻌㼞㼑㼠㼕㼞㼑㼟㻕㻌㼍㼟㻌㼍㻌㼐㼕㼞㼑㼏㼠㼛㼞㻌㼛㼞㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼛㼒㼒㼕㼏㼑㼞㻌㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻚㻺㼛㼠㼑㻌㻠㻚㻌㼀㼔㼑㻌㼟㼑㼞㼢㼕㼏㼑㻌㼜㼑㼞㼕㼛㼐㻌㼕㼟㻌㼚㼛㼠㻌㼟㼠㼕㼜㼡㼘㼍㼠㼑㼐㻚㻌

Annual Report 2012 | 64

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻔㼎㻕㻌㻺㼡㼙㼎㼑㼞㻘㻌㼙㼛㼢㼑㼙㼑㼚㼠㻌㼍㼚㼐㻌㼜㼞㼕㼏㼑㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻿㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻌㼍㼞㼑㻌㼏㼛㼚㼢㼑㼞㼠㼕㼎㼘㼑㻌㼕㼚㼠㼛㻌㼍㼚㻌㼑㼝㼡㼍㼘㻌㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻚㻔㼕㻕㻌㻺㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻺㼛㻚㻌㻝㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻻㼜㼠㼕㼛㼚㼟㻌㼎㼑㼒㼛㼞㼑㻌㼢㼑㼟㼠㼕㼚㼓㻔㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻕㻌㻮㼍㼘㼍㼚㼏㼑㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㻳㼞㼍㼚㼠㼑㼐
㻌㻲㼛㼞㼒㼑㼕㼠㼑㼐㻌㼂㼑㼟㼠㼑㼐
㻌㻮㼍㼘㼍㼚㼏㼑㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻻㼜㼠㼕㼛㼚㼟㻌㼍㼒㼠㼑㼞㻌㼢㼑㼟㼠㼕㼚㼓㻔㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼔㼍㼞㼑㼟㻕㻌㻮㼍㼘㼍㼚㼏㼑㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㻳㼞㼍㼚㼠㼑㼐
㻌㻲㼛㼞㼒㼑㼕㼠㼑㼐㻌㼂㼑㼟㼠㼑㼐
㻌㻮㼍㼘㼍㼚㼏㼑㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻺㼛㻚㻌㻞㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻺㼛㻚㻌㻟㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻺㼛㻚㻌㻠㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚

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㻙㻠㻤㻘㻣㻜㻜㻙㻝㻘㻟㻜㻜㻙㻠㻣㻘㻠㻜㻜

㻞㻠㻘㻤㻜㻜㻙㻢㻜㻜㻙㻞㻠㻘㻞㻜㻜

㻟㻝㻘㻜㻜㻜㻙㻢㻜㻜㻙㻟㻜㻘㻠㻜㻜

㻙㻞㻤㻘㻞㻜㻜
㻙㻙㻞㻤㻘㻞㻜㻜

㻺㼛㻚㻌㻝㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻺㼛㻚㻌㻞㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻺㼛㻚㻌㻟㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚

㻝
㻞㻘㻟㻝㻣
㻝㻘㻜㻥㻝

㻝
㻞㻘㻟㻝㻣
㻞㻘㻢㻞㻤

㻔㼕㼕㻕㻌㻼㼞㼕㼏㼑㻌㼜㼑㼞㻌㼟㼔㼍㼞㼑㻻㼜㼠㼕㼛㼚㻌㼜㼞㼕㼏㼑㻌㻔㼥㼑㼚㻕㼃㼑㼕㼓㼔㼠㼑㼐㻌㼍㼢㼑㼞㼍㼓㼑㻌㼟㼠㼛㼏㼗㻌㼜㼞㼕㼏㼑㻌㻔㼥㼑㼚㻕㻲㼍㼕㼞㻌㼢㼍㼘㼡㼑㻌㼍㼠㻌㼓㼞㼍㼚㼠㻌㼐㼍㼠㼑㻌㻔㼥㼑㼚㻕㻌㻺㼛㻚㻌㻠㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼀㼥㼜㼑㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚
㻝
㻝
㻞㻘㻟㻝㻣
㻙
㻞㻘㻞㻜㻤
㻞㻘㻞㻠㻡

㻔㻟㻕㻌㻹㼑㼠㼔㼛㼐㻌㼠㼛㻌㼑㼟㼠㼕㼙㼍㼠㼑㻌㼒㼍㼕㼞㻌㼡㼚㼕㼠㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㼀㼔㼑 㼓㼞㼍㼚㼠 㼐㼍㼠㼑 㼒㼍㼕㼞 㼢㼍㼘㼡㼑 㼛㼒 㻺㼛㻚 㻠 㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐 㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚 㼀㼥㼜㼑 㻿㼠㼛㼏㼗 㻻㼜㼠㼕㼛㼚 㼕㼚 㼠㼔㼑 㼥㼑㼍㼞 㼑㼚㼐㼑㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞 㼣㼍㼟 㼑㼟㼠㼕㼙㼍㼠㼑㼐㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㻮㼘㼍㼏㼗㻙㻿㼏㼔㼛㼘㼑㼟㻌㼛㼜㼠㼕㼛㼚㻌㼜㼞㼕㼏㼕㼚㼓㻌㼙㼛㼐㼑㼘㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㻌㻺㼛㻚㻌㻠㻌㻿㼠㼛㼏㼗㻙㼎㼍㼟㼑㼐㻌㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㼀㼥㼜㼑㻌㻿㼠㼛㼏㼗㻌㻻㼜㼠㼕㼛㼚㻿㼠㼛㼏㼗㻌㼜㼞㼕㼏㼑㻌㼢㼛㼘㼍㼠㼕㼘㼕㼠㼥㻌㻔㻺㼛㼠㼑㻌㻝㻕㻱㼤㼜㼑㼏㼠㼑㼐㻌㼞㼑㼙㼍㼕㼚㼕㼚㼓㻌㼜㼑㼞㼕㼛㼐㻌㻔㻺㼛㼠㼑㻌㻞㻕㻱㼤㼜㼑㼏㼠㼑㼐㻌㼐㼕㼢㼕㼐㼑㼚㼐㻌㻔㻺㼛㼠㼑㻌㻟㻕㻾㼕㼟㼗㻌㼒㼞㼑㼑㻌㼕㼚㼠㼑㼞㼑㼟㼠㻌㼞㼍㼠㼑㻌㻔㻺㼛㼠㼑㻌㻠㻕㻟㻢㻚㻤㻑㻝㻡㻌㼅㼑㼍㼞
\㻠㻜㻛㼟㼔㼍㼞㼑㻝㻚㻡㻟㻑㻺㼛㼠㼑㻌㻝㻚㻌㻿㼠㼛㼏㼗㻌㼜㼞㼕㼏㼑㻌㼢㼛㼘㼍㼠㼕㼘㼕㼠㼥㻌㼣㼍㼟㻌㼏㼍㼘㼏㼡㼘㼍㼠㼑㼐㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼍㼏㼠㼡㼍㼘㻌㼣㼑㼑㼗㼘㼥㻌㼟㼠㼛㼏㼗㻌㼜㼞㼕㼏㼑㼟㻌㼛㼢㼑㼞㻌㻝㻡㻌㼥㼑㼍㼞㼟㻌㻔㼒㼞㼛㼙㻌㼠㼔㼑㻌㼣㼑㼑㼗㻌㼛㼒㻌㻭㼜㼞㼕㼘㻌㻞㻝㻘㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻝㻥㻥㻣㻌㼠㼛㻌㼠㼔㼑㻌㼣㼑㼑㼗㻌㼛㼒㻌㻭㼜㼞㼕㼘㻌㻝㻢㻘㻌㻞㻜㻝㻞㻕㻚㻺㼛㼠㼑㻌㻞㻚㻌㻭㼟㻌㼕㼠㻌㼣㼍㼟㻌㼐㼕㼒㼒㼕㼏㼡㼘㼠㻌㼠㼛㻌㼑㼟㼠㼕㼙㼍㼠㼑㻌㼠㼔㼑㻌㼑㼤㼜㼑㼏㼠㼑㼐㻌㼞㼑㼙㼍㼕㼚㼕㼚㼓㻌㼜㼑㼞㼕㼛㼐㻌㼣㼕㼠㼔㼛㼡㼠㻌㼟㼡㼒㼒㼕㼏㼕㼑㼚㼠㻌㼞㼑㼘㼑㼢㼍㼚㼠㻌㼐㼍㼠㼍㻘㻌㼕㼠㻌㼣㼍㼟㻌㼐㼑㼠㼑㼞㼙㼕㼚㼑㼐㻌㼠㼛㻌㼎㼑㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㼑㼤㼑㼞㼏㼕㼟㼑㼐㻌㼍㼠㻌㼠㼔㼑㻌㼙㼕㼐㻙㼜㼛㼕㼚㼠㻌㼛㼒㻌㼠㼔㼑㻌㼑㼤㼑㼞㼏㼕㼟㼑㻌㼜㼑㼞㼕㼛㼐㻚㻺㼛㼠㼑㻌㻟㻚㻌㻱㼤㼜㼑㼏㼠㼑㼐㻌㼐㼕㼢㼕㼐㼑㼚㼐㻌㼣㼍㼟㻌㼏㼍㼘㼏㼡㼘㼍㼠㼑㼐㻌㼎㼥㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼍㼏㼠㼡㼍㼘㻌㼐㼕㼢㼕㼐㼑㼚㼐㻌㼜㼍㼕㼐㻌㼒㼛㼞㻌㼠㼔㼑㻌㼥㼑㼍㼞㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻚㻺㼛㼠㼑㻌㻠㻚㻌㻾㼕㼟㼗㻌㼒㼞㼑㼑㻌㼕㼚㼠㼑㼞㼑㼟㼠㻌㼞㼍㼠㼑㻌㼞㼑㼜㼞㼑㼟㼑㼚㼠㼟㻌㼠㼔㼑㻌㼏㼛㼙㼜㼍㼞㼍㼎㼘㼑㻌㼏㼛㼙㼜㼛㼡㼚㼐㻌㼕㼚㼠㼑㼞㼑㼟㼠㻌㼞㼍㼠㼑㻌㼛㼒㻌㼟㼠㼞㼕㼜㻌㼓㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㼎㼛㼚㼐㼟㻌㼣㼔㼛㼟㼑㻌㼞㼑㼙㼍㼕㼚㼕㼚㼓㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㼜㼑㼞㼕㼛㼐㻌㼏㼛㼞㼞㼑㼟㼜㼛㼚㼐㼟㻌㼠㼛㻌㼠㼔㼑㻌㼑㼤㼜㼑㼏㼠㼑㼐㻌㼞㼑㼙㼍㼕㼚㼕㼚㼓㻌㼜㼑㼞㼕㼛㼐㻌㼛㼒㻌㼠㼔㼑㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻚㻔㻠㻕㻌㻯㼛㼚㼐㼕㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼠㼔㼑㻌㼑㼟㼠㼕㼙㼍㼠㼑㻌㼛㼒㻌㼠㼔㼑㻌㼒㼍㼕㼞㻌㼡㼚㼕㼠㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻾㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼒㼞㼛㼙㻌㼠㼔㼑㻌㼛㼒㼒㼕㼏㼑㻌㼛㼒㻌㼐㼕㼞㼑㼏㼠㼛㼞㻌㼕㼟㻌㼍㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㻌㼠㼛㻌㼑㼤㼑㼞㼏㼕㼟㼑㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻘㻌㼎㼡㼠㻌㼏㼛㼚㼠㼕㼚㼡㼛㼡㼟㻌㼑㼙㼜㼘㼛㼥㼙㼑㼚㼠㻌㼕㼟㻌㼚㼛㼠㻚㻌㻭㼏㼏㼛㼞㼐㼕㼚㼓㼘㼥㻘㼠㼔㼑㻌㼕㼚㼕㼠㼕㼍㼘㻌㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼟㼠㼛㼏㼗㻌㼛㼜㼠㼕㼛㼚㼟㻌㼓㼞㼍㼚㼠㼑㼐㻌㼕㼟㻌㼡㼟㼑㼐㻌㼍㼟㻌㼍㼚㻌㼑㼟㼠㼕㼙㼍㼠㼑㻌㼛㼒㻌㼠㼔㼑㻌㼚㼡㼙㼎㼑㼞㻌㼛㼒㻌㼢㼑㼟㼠㼑㼐㻌㼟㼔㼍㼞㼑㼟㻚㻌65㻝㻞㻚㻌㻸㼑㼍㼟㼑㼟㻲㼕㼚㼍㼚㼏㼑 㼘㼑㼍㼟㼑㼟 㼣㼔㼕㼏㼔 㼐㼛 㼚㼛㼠 㼠㼞㼍㼚㼟㼒㼑㼞 㼛㼣㼚㼑㼞㼟㼔㼕㼜 㼍㼠 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞 㼏㼛㼚㼟㼕㼟㼠㼑㼐 㼛㼒 㼘㼑㼍㼟㼑㼟 㼒㼛㼞 㼛㼒㼒㼕㼏㼑 㼑㼝㼡㼕㼜㼙㼑㼚㼠㼍㼚㼐 㼟㼛㼒㼠㼣㼍㼞㼑㻚 㼀㼔㼑 㼙㼑㼠㼔㼛㼐 㼛㼒 㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚 㼍㼚㼐 㼍㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚 㼛㼒 㼘㼑㼍㼟㼑 㼍㼟㼟㼑㼠㼟 㼕㼟 㼐㼑㼟㼏㼞㼕㼎㼑㼐 㼕㼚 㻺㼛㼠㼑 㻞㻔㼔㻕㻘 㻎㻿㼡㼙㼙㼍㼞㼥 㼛㼒 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠 㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㼜㼕㼘㼕㼏㼕㼑㼟㻌㻙㻌㻸㼑㼍㼟㼑㼟㻚㻎㻌㼃㼕㼠㼔 㼞㼑㼟㼜㼑㼏㼠 㼠㼛 㼒㼕㼚㼍㼚㼏㼑 㼘㼑㼍㼟㼑 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟 㼠㼔㼍㼠 㼐㼛 㼚㼛㼠 㼠㼞㼍㼚㼟㼒㼑㼞 㼛㼣㼚㼑㼞㼟㼔㼕㼜 㼍㼚㼐 㼕㼚 㼣㼔㼕㼏㼔 㼠㼔㼑 㼘㼑㼍㼟㼑 㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚 㼎㼑㼓㼍㼚 㼎㼑㼒㼛㼞㼑㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻜㻤㻘㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼔㼍㼟㻌㼏㼛㼚㼠㼕㼚㼡㼑㼐㻌㼠㼛㻌㼍㼏㼏㼛㼡㼚㼠㻌㼒㼛㼞㻌㼠㼔㼑㼙㻌㼕㼚㻌㼠㼔㼑㻌㼟㼍㼙㼑㻌㼙㼍㼚㼚㼑㼞㻌㼍㼟㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼘㼑㼍㼟㼑㼟㻘㻌㼍㼟㻌㼟㼠㼍㼠㼑㼐㻌㼍㼎㼛㼢㼑㻚㻭㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻘㻌㼍㼟㼟㼑㼠㼟㻌㼘㼑㼍㼟㼑㼐㻌㼡㼚㼐㼑㼞㻌㼚㼛㼚㻙㼏㼍㼜㼕㼠㼍㼘㼕㼦㼑㼐㻌㼒㼕㼚㼍㼚㼏㼑㻌㼘㼑㼍㼟㼑㼟㻌㼣㼑㼞㼑㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㻭㼏㼝㼡㼕㼟㼕㼠㼕㼛㼚㻌㼏㼛㼟㼠㻘㻌㼍㼏㼏㼡㼙㼡㼘㼍㼠㼑㼐㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼍㼚㼐㻌㼎㼍㼘㼍㼚㼏㼑㻌㼛㼒㻌㼍㼟㼟㼑㼠㼟㻌㼘㼑㼍㼟㼑㼐㻹㼍㼏㼔㼕㼚㼑㼞㼥㻘㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌㼍㼚㼐㻌㼢㼑㼔㼕㼏㼘㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻌㼜㼞㼛㼜㼑㼞㼠㼥㻘㻌㼜㼘㼍㼚㼠㻌㼍㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻌㼕㼚㼠㼍㼚㼓㼕㼎㼘㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻸㼑㼟㼟㻌㼍㼏㼏㼡㼙㼡㼘㼍㼠㼑㼐㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼍㼚㼐㻌㼍㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻺㼛㼠㼑㻚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㼰㻞㻞㻥
㼰㻝㻜㻥
㻝㻤㻠
㻝㻝㻣
㻠
㻠
㻔㻟㻝㻡㻕
㻔㻝㻤㻝㻕
㼰㻝㻜㻞
㼰㻡㻜

㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻐㻝㻘㻞㻡㻤
㻝㻘㻟㻡㻝㻠㻢㻔㻞㻘㻜㻥㻜㻕㻐㻡㻣㻣㼀㼔㼑 㼍㼎㼛㼢㼑 㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚 㼍㼚㼐 㼍㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚 㼣㼍㼟 㼏㼍㼘㼏㼡㼘㼍㼠㼑㼐 㼎㼥 㼠㼔㼑 㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑 㼙㼑㼠㼔㼛㼐 㼛㼢㼑㼞 㼠㼔㼑 㼠㼑㼞㼙 㼛㼒 㼠㼔㼑 㼘㼑㼍㼟㼑㻚 㻵㼒 㼠㼔㼑 㼍㼎㼛㼢㼑 㼘㼑㼍㼟㼑㼟㼔㼍㼐 㼎㼑㼑㼚 㼏㼍㼜㼕㼠㼍㼘㼕㼦㼑㼐㻘 㼕㼚㼠㼑㼞㼑㼟㼠 㼛㼒 \㻠 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻝 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻝㻝 㼠㼔㼛㼡㼟㼍㼚㼐㻕 㼍㼚㼐 㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚 㼍㼚㼐 㼍㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚 㼛㼒 \㻥㻝 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐\㻡㻞 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻢㻜㻜 㼠㼔㼛㼡㼟㼍㼚㼐㻕 㼣㼛㼡㼘㼐 㼔㼍㼢㼑 㼎㼑㼑㼚 㼞㼑㼏㼛㼞㼐㼑㼐 㼒㼛㼞 㼠㼔㼑 㼥㼑㼍㼞㼟 㼑㼚㼐㼑㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞㻘㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚 㻸㼑㼍㼟㼑 㼜㼍㼥㼙㼑㼚㼠㼟 㼡㼚㼐㼑㼞 㼚㼛㼚㻙㼏㼍㼜㼕㼠㼍㼘㼕㼦㼑㼐 㼒㼕㼚㼍㼚㼏㼑 㼘㼑㼍㼟㼑㼟 㼣㼑㼞㼑 \㻥㻤 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻡㻢 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻢㻠㻢 㼠㼔㼛㼡㼟㼍㼚㼐㻕 㼒㼛㼞 㼠㼔㼑㼥㼑㼍㼞㼟 㼑㼚㼐㼑㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞㻘 㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚 㻻㼎㼘㼕㼓㼍㼠㼕㼛㼚㼟 㼡㼚㼐㼑㼞 㼒㼕㼚㼍㼚㼏㼑 㼘㼑㼍㼟㼑㼟 㼍㼠 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼣㼑㼞㼑㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻼㼍㼥㼙㼑㼚㼠㼟㻌㼞㼑㼙㼍㼕㼚㼕㼚㼓㻦㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻝㻞㻛㻞㻜㻝㻞
㼰㻡㻠
㼰㻞㻡
㻐㻞㻤㻤
㻼㼍㼥㼙㼑㼚㼠㼟㻌㼐㼡㼑㻌㼣㼕㼠㼔㼕㼚㻌㻝㻌㼥㼑㼍㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻼㼍㼥㼙㼑㼚㼠㼟㻌㼐㼡㼑㻌㼍㼒㼠㼑㼞㻌㻝㻌㼥㼑㼍㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻡㻠
㻞㻥
㻟㻟㻠
㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㼰㻝㻜㻤
㼰㻡㻠
㻐㻢㻞㻟

㻼㼍㼥㼙㼑㼚㼠㼟㻌㼞㼑㼙㼍㼕㼚㼕㼚㼓㻌㼡㼚㼐㼑㼞㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼘㼑㼍㼟㼑㼟㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼣㼑㼞㼑㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㻼㼍㼥㼙㼑㼚㼠㼟㻌㼞㼑㼙㼍㼕㼚㼕㼚㼓㻦㻼㼍㼥㼙㼑㼚㼠㼟㻌㼐㼡㼑㻌㼣㼕㼠㼔㼕㼚㻌㻝㻌㼥㼑㼍㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻼㼍㼥㼙㼑㼚㼠㼟㻌㼐㼡㼑㻌㼍㼒㼠㼑㼞㻌㻝㻌㼥㼑㼍㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㼰㻡㻟㻢
㼰㻢㻞㻢
㻝㻘㻜㻡㻡
㻝㻘㻤㻠㻢
㼰㻝㻘㻡㻥㻝
㼰㻞㻘㻠㻣㻞

㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻐㻣㻘㻞㻟㻜
㻞㻝㻘㻟㻞㻝
㻐㻞㻤㻘㻡㻡㻝

㻝㻟㻚㻌㻯㼛㼚㼠㼕㼚㼓㼑㼚㼠㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㼀㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼚㼐 㼏㼑㼞㼠㼍㼕㼚 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟 㼣㼑㼞㼑 㼏㼛㼚㼠㼕㼚㼓㼑㼚㼠㼘㼥 㼘㼕㼍㼎㼘㼑 㼍㼟 㼓㼡㼍㼞㼍㼚㼠㼛㼞㼟 㼛㼒 㼘㼛㼍㼚㼟 㼠㼛 㼍㼒㼒㼕㼘㼕㼍㼠㼑㼐 㼏㼛㼙㼜㼍㼚㼕㼑㼟 㼍㼚㼐㼚㼛㼚㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟 㼕㼚 㼠㼔㼑 㼍㼙㼛㼡㼚㼠㼟 㼛㼒 \㻝㻠㻤 㼙㼕㼘㼘㼕㼛㼚 㼍㼚㼐 \㻝㻝㻢 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻝㻘㻟㻟㻥 㼠㼔㼛㼡㼟㼍㼚㼐㻕 㼍㼠 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘㻞㻜㻝㻞㻘㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚㻌㻌

Annual Report 2012 | 66

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻝㻠㻚㻌㻰㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻻㼡㼠㼟㼠㼍㼚㼐㼕㼚㼓㻌㼐㼑㼞㼕㼢㼍㼠㼕㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼣㼑㼞㼑㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㻯㼡㼞㼞㼑㼚㼏㼥㻌㼞㼑㼘㼍㼠㼑㼐㻦㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻻㼢㼑㼞㻹㼍㼞㼗㼑㼠㻳㼍㼕㼚㻻㼢㼑㼞㻹㼍㼞㼗㼑㼠
㻭㼙㼛㼡㼚㼠
㻭㼙㼛㼡㼚㼠
㻌㻝㻌㼥㼑㼍㼞
㻌㼢㼍㼘㼡㼑
㻔㼘㼛㼟㼟㻕
㻌㻝㻌㼥㼑㼍㼞
㻌㼢㼍㼘㼡㼑
㻲㼛㼞㼣㼍㼞㼐㼟
㻿㼑㼘㼘㼕㼚㼓
㼁㻿㻌㼐㼛㼘㼘㼍㼞㼰㻞㻘㻝㻟㻜
㻙
㻔㼰㻟㻝㻕
㻔㼰㻟㻝㻕
㼰㻝㻘㻣㻥㻣
㻙
㻔㼰㻟㻞㻕
㻱㼡㼞㼛
㻥㻥㻟
㻙
㻤㻜
㻤㻜
㻝㻘㻜㻝㻤
㻝㻥㻟
㻔㻥㻤㻕
㻼㼛㼡㼚㼐
㻝㻞㻣
㻙
㻡
㻡
㻥㻡
㻙
㻔㻢㻕
㻮㼍㼔㼠
㻟㻢
㻙
㻔㻜㻕
㻔㻜㻕
㻙
㻙
㻙
㼆㼘㼛㼠㼥
㻥㻜
㻙
㻜
㻜
㻙
㻙
㻙
㻮㼡㼥㼕㼚㼓
㼁㻿㻌㼐㼛㼘㼘㼍㼞
㻟㻢㻟
㻞㻟㻤
㻔㻞㻝㻕
㻔㻞㻝㻕
㻙
㻙
㻙
㻱㼡㼞㼛
㻥㻞
㻙
㻔㻣㻕
㻔㻣㻕
㻙
㻙
㻙
㻼㼛㼡㼚㼐
㻝㻝㻥
㻙
㻜
㻜
㻙
㻙
㻙
㼅㼑㼚
㻞
㻙
㻜
㻜
㻙
㻙
㻙
㻻㼜㼠㼕㼛㼚㼟
㻿㼑㼘㼘㼕㼚㼓
㻯㼍㼘㼘㼁㻿㻌㼐㼛㼘㼘㼍㼞
㻟㻝㻜
㻙
㻙
㻙
㻙
㻙
㻙
㻻㼜㼠㼕㼛㼚㻌㼏㼛㼟㼠
㻙
㻙
㻜
㻜
㻙
㻙
㻙
㻮㼡㼥㼕㼚㼓
㻼㼡㼠㼁㻿㻌㼐㼛㼘㼘㼍㼞
㻞㻢㻥
㻙
㻙
㻙
㻙
㻙
㻙
㻻㼜㼠㼕㼛㼚㻌㼏㼛㼟㼠
㻙
㻙
㻔㻝㻤㻕
㻔㻝㻤㻕
㻙
㻙
㻙
㼀㼛㼠㼍㼘
㻙
㻙
㼰㻤
㼰㻤
㻙
㻙
㻔㼰㻝㻟㻢㻕
㻺㼛㼠㼑㻚㻌㻹㼍㼞㼗㼑㼠㻌㼢㼍㼘㼡㼑㻌㼕㼟㻌㼐㼑㼠㼑㼞㼙㼕㼚㼑㼐㻌㼎㼥㻌㼎㼍㼚㼗㼕㼚㼓㻌㼕㼚㼟㼠㼕㼠㼡㼠㼕㼛㼚㼟㻚㻳㼍㼕㼚㻔㼘㼛㼟㼟㻕

㻔㼰㻟㻞㻕
㻔㻥㻤㻕
㻔㻢㻕
㻙
㻙
㻙
㻙
㻙
㻙

㻙
㻙

㻙
㻙
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㻻㼢㼑㼞㻹㼍㼞㼗㼑㼠
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㻌㼢㼍㼘㼡㼑
㻔㼘㼛㼟㼟㻕
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㻱㼡㼞㼛
㻼㼛㼡㼚㼐
㻮㼍㼔㼠
㼆㼘㼛㼠㼥
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㻿㼑㼘㼘㼕㼚㼓
㻯㼍㼘㼘㼁㻿㻌㼐㼛㼘㼘㼍㼞㻻㼜㼠㼕㼛㼚㻌㼏㼛㼟㼠㻮㼡㼥㼕㼚㼓
㻼㼡㼠㼁㻿㻌㼐㼛㼘㼘㼍㼞㻻㼜㼠㼕㼛㼚㻌㼏㼛㼟㼠㼀㼛㼠㼍㼘㻐㻞㻜㻘㻣㻡㻡
㻝㻝㻘㻣㻡㻣
㻝㻘㻜㻥㻣
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㻞㻘㻞㻞㻥
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㻔㻐㻟㻢㻥㻕
㻔㻝㻘㻝㻟㻝㻕㻔㻢㻥㻕㻔㻜㻕㻙㻔㻐㻟㻢㻥㻕
㻔㻝㻘㻝㻟㻝㻕
㻔㻢㻥㻕
㻔㻜㻕
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㻔㻐㻝㻘㻡㻣㻜㻕

㻙㻙㻔㻐㻝㻘㻡㻣㻜㻕

㻵㼚㼠㼑㼞㼑㼟㼠㻌㼞㼍㼠㼑㻌㼞㼑㼘㼍㼠㼑㼐㻦㻭㼙㼛㼡㼚㼠

㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻻㼢㼑㼞㻹㼍㼞㼗㼑㼠
㻌㻝㻌㼥㼑㼍㼞
㻌㼢㼍㼘㼡㼑

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㼰㻝㻘㻣㻞㻡
㻔㼰㻝㻝㻞㻕
㼍㼚㼐㻌㼜㼍㼥㼕㼚㼓㻌㼒㼕㼤㼑㼐㻌㼞㼍㼠㼑㼟㼀㼛㼠㼍㼘㼰㻝㻘㻥㻞㻜
㼰㻝㻘㻣㻞㻡
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㻺㼛㼠㼑㻚㻌㻹㼍㼞㼗㼑㼠㻌㼢㼍㼘㼡㼑㻌㼕㼟㻌㼐㼑㼠㼑㼞㼙㼕㼚㼑㼐㻌㼎㼥㻌㼎㼍㼚㼗㼕㼚㼓㻌㼕㼚㼟㼠㼕㼠㼡㼠㼕㼛㼚㼟㻚㻳㼍㼕㼚㻔㼘㼛㼟㼟㻕

㻭㼙㼛㼡㼚㼠

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㼰㻝㻘㻥㻡㻣
㼰㻝㻘㻥㻡㻣

㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻞
㻻㼢㼑㼞㻹㼍㼞㼗㼑㼠
㻌㻝㻌㼥㼑㼍㼞
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㻔㼰㻡㻟㻕
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㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻌㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻻㼢㼑㼞㻹㼍㼞㼗㼑㼠
㻳㼍㼕㼚㻭㼙㼛㼡㼚㼠
㻌㻝㻌㼥㼑㼍㼞
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㻵㼚㼠㼑㼞㼑㼟㼠㻌㼞㼍㼠㼑㻌㼟㼣㼍㼜㻌㼏㼛㼚㼠㼞㼍㼏㼠㼟㻾㼑㼏㼑㼕㼢㼕㼚㼓㻌㼒㼘㼛㼍㼠㼕㼚㼓㻌㼞㼍㼠㼑㼟㼍㼚㼐㻌㼜㼍㼥㼕㼚㼓㻌㼒㼕㼤㼑㼐㻌㼞㼍㼠㼑㼟
㼀㼛㼠㼍㼘

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㻐㻞㻞㻘㻢㻜㻟
㻐㻞㻞㻘㻢㻜㻟

㻙㻙㻔㻐㻢㻝㻞㻕
㻔㻐㻢㻝㻞㻕

㻔㻐㻢㻝㻞㻕
㻔㻐㻢㻝㻞㻕

㻝㻡㻚㻌㻵㼚㼏㼛㼙㼑㻌㼠㼍㼤㼑㼟㼀㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼕㼟 㼟㼡㼎㼖㼑㼏㼠 㼠㼛 㼍 㼚㼡㼙㼎㼑㼞 㼛㼒 㼠㼍㼤㼑㼟 㼎㼍㼟㼑㼐 㼛㼚 㼕㼚㼏㼛㼙㼑㻘 㼣㼔㼕㼏㼔㻘 㼕㼚 㼠㼔㼑 㼍㼓㼓㼞㼑㼓㼍㼠㼑㻘 㼕㼚㼐㼕㼏㼍㼠㼑 㼍 㼟㼠㼍㼠㼡㼠㼛㼞㼥 㼕㼚㼏㼛㼙㼑㼠㼍㼤㻌㼞㼍㼠㼑㻌㼕㼚㻌㻶㼍㼜㼍㼚㻌㼛㼒㻌㼍㼜㼜㼞㼛㼤㼕㼙㼍㼠㼑㼘㼥㻌㻠㻜㻚㻢㻑㻌㼒㼛㼞㻌㼠㼔㼑㻌㼥㼑㼍㼞㼟㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻚㼀㼔㼑 㼒㼛㼘㼘㼛㼣㼕㼚㼓 㼠㼍㼎㼘㼑 㼟㼡㼙㼙㼍㼞㼕㼦㼑㼟 㼠㼔㼑 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠 㼐㼕㼒㼒㼑㼞㼑㼚㼏㼑㼟 㼎㼑㼠㼣㼑㼑㼚 㼠㼔㼑 㼟㼠㼍㼠㼡㼠㼛㼞㼥 㼠㼍㼤 㼞㼍㼠㼑 㼍㼚㼐 㻴㻻㻾㻵㻮㻭㻓㼟 㼑㼒㼒㼑㼏㼠㼕㼢㼑 㼠㼍㼤㼞㼍㼠㼑㻌㼒㼛㼞㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㻌㼜㼡㼞㼜㼛㼟㼑㼟㻌㼒㼛㼞㻌㼠㼔㼑㻌㼥㼑㼍㼞㼟㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻚㻿㼠㼍㼠㼡㼠㼛㼞㼥㻌㼠㼍㼤㻌㼞㼍㼠㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻱㼤㼜㼑㼚㼟㼑㼟㻌㼚㼛㼠㻌㼝㼡㼍㼘㼕㼒㼥㼕㼚㼓㻌㼒㼛㼞㻌㼜㼑㼞㼙㼍㼚㼑㼚㼠㻌㼐㼑㼐㼡㼏㼠㼕㼛㼚㻘㻌㼑㻚㼓㻚㻌㼑㼚㼠㼑㼞㼠㼍㼕㼚㼙㼑㼚㼠㻌㼑㼤㼜㼑㼚㼟㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻺㼛㼚㼠㼍㼤㼍㼎㼘㼑㻌㼐㼕㼢㼕㼐㼑㼚㼐㻌㼕㼚㼏㼛㼙㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻼㼑㼞㻌㼏㼍㼜㼕㼠㼍㻌㼕㼚㼔㼍㼎㼕㼠㼍㼚㼠㼟㻌㼠㼍㼤㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼏㼞㼑㼍㼟㼑㻛㼐㼑㼏㼞㼑㼍㼟㼑㻌㼕㼚㻌㼢㼍㼘㼡㼍㼠㼕㼛㼚㻌㼍㼘㼘㼛㼣㼍㼚㼏㼑㻌㼒㼛㼞㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻭㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㼛㼒㻌㼓㼛㼛㼐㼣㼕㼘㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻯㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼑㼘㼕㼙㼕㼚㼍㼠㼕㼛㼚㻌㼛㼒㻌㼐㼕㼢㼕㼐㼑㼚㼐㻌㼕㼚㼏㼛㼙㼑㼒㼞㼛㼙㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻰㼕㼒㼒㼑㼞㼑㼚㼏㼑㼟㻌㼕㼚㻌㼠㼍㼤㻌㼞㼍㼠㼑㻌㼎㼑㼠㼣㼑㼑㼚㼒㼛㼞㼑㼕㼓㼚㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼍㼚㼐㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼍㼤㻌㼏㼞㼑㼐㼕㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻱㼒㼒㼑㼏㼠㼕㼢㼑㻌㼠㼍㼤㻌㼞㼍㼠㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻝㻞㻛㻞㻜㻝㻝
㻠㻜㻚㻢㻑㻝㻞㻛㻞㻜㻝㻞
㻠㻜㻚㻢㻑

㻝㻚㻣
㻔㻞㻚㻡㻕
㻜㻚㻟
㻝㻚㻟
㻜㻚㻜

㻝㻚㻞
㻔㻜㻚㻞㻕
㻜㻚㻠
㻜㻚㻜
㻜㻚㻝

㻜㻚㻠

㻜㻚㻞

㻔㻟㻚㻡㻕
㻔㻟㻚㻝㻕
㻝㻚㻟
㻟㻢㻚㻡㻑

㻔㻟㻚㻟㻕
㻔㻠㻚㻟㻕
㻔㻜㻚㻥㻕
㻟㻟㻚㻤㻑

㻿㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠 㼏㼛㼙㼜㼛㼚㼑㼚㼠㼟 㼛㼒 㻴㻻㻾㻵㻮㻭㻓㼟 㼐㼑㼒㼑㼞㼞㼑㼐 㼠㼍㼤 㼍㼟㼟㼑㼠㼟 㼍㼚㼐 㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟 㼍㼠 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻝 㼍㼚㼐 㻰㼑㼏㼑㼙㼎㼑㼞 㻟㻝㻘 㻞㻜㻝㻞㼣㼑㼞㼑㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻝㻞㻛㻞㻜㻝㻞
㻰㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻭㼏㼏㼞㼡㼑㼐㻌㼑㼚㼠㼑㼞㼜㼞㼕㼟㼑㻌㼠㼍㼤㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㼰㻞㻡㻤
㼰㻝㻢㻞
㻐㻝㻘㻤㻣㻝
㻸㼛㼟㼟㻌㼛㼚㻌㼣㼞㼕㼠㼑㻙㼐㼛㼣㼚㻌㼛㼒㻌㼕㼚㼢㼑㼚㼠㼛㼞㼥㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻥㻟㻡
㻤㻞㻥
㻥㻘㻡㻣㻠
㻣㻢
㻢㻢
㻣㻢㻞
㻭㼘㼘㼛㼣㼍㼚㼏㼑㻌㼒㼛㼞㻌㼐㼛㼡㼎㼠㼒㼡㼘㻌㼞㼑㼏㼑㼕㼢㼍㼎㼘㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻞㻟㻡
㻞㻜㻜
㻞㻘㻟㻝㻜
㻭㼏㼏㼞㼡㼑㼐㻌㼎㼛㼚㼡㼟㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻝㻘㻠㻣㻟
㻝㻘㻠㻢㻟
㻝㻢㻘㻤㻥㻣
㻸㼛㼟㼟㻌㼏㼍㼞㼞㼥㼒㼛㼞㼣㼍㼞㼐㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻥㻞㻡㻥㻥㻥㻝㻝㻘㻡㻟㻤
㼁㼚㼞㼑㼍㼘㼕㼦㼑㼐㻌㼓㼍㼕㼚㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻡㻞㻜
㻢㻜㻤
㻣㻘㻜㻞㻞
㻱㼙㼜㼘㼛㼥㼑㼑㼟㻓㻌㼞㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻰㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻢㻝㻣
㻢㻠㻠
㻣㻘㻠㻟㻤
㻸㼛㼟㼟㻌㼛㼚㻌㼢㼍㼘㼡㼍㼠㼕㼛㼚㻌㼛㼒㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻠㻣㻠
㻝㻜㻟
㻝㻘㻝㻤㻥
㻾㼑㼠㼕㼞㼑㼙㼑㼚㼠㻌㼎㼑㼚㼑㼒㼕㼠㼟㻌㼒㼛㼞㻌㼐㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼍㼡㼐㼕㼠㼛㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻟㻠㻠
㻟㻝㻥
㻟㻘㻢㻤㻠
㻥㻤
㻝㻝㻡
㻝㻘㻟㻞㻤
㻸㼛㼟㼟㻌㼛㼚㻌㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠㻌㼛㼒㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻞㻘㻥㻥㻤
㻞㻘㻜㻟㻟
㻞㻟㻘㻠㻤㻝㻤㻘㻥㻡㻣㻣㻘㻡㻠㻢㻤㻣㻘㻝㻡㻢
㼀㼛㼠㼍㼘㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼂㼍㼘㼡㼍㼠㼕㼛㼚㻌㼍㼘㼘㼛㼣㼍㼚㼏㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻘㻞㻢㻝㻕
㻔㻝㻘㻞㻜㻢㻕
㻔㻝㻟㻘㻥㻞㻥㻕
㻺㼑㼠㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻢㻘㻢㻥㻢
㻢㻘㻟㻟㻥
㻣㻟㻘㻞㻝㻡
㻰㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻾㼑㼟㼑㼞㼢㼑㻌㼒㼛㼞㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼓㼍㼕㼚㼟㻌㼛㼚㻌㼜㼞㼛㼜㼑㼞㼠㼥㻘㻌㼜㼘㼍㼚㼠㻌㼍㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼁㼚㼞㼑㼍㼘㼕㼦㼑㼐㻌㼘㼛㼟㼟㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻺㼑㼠㻌㼡㼚㼞㼑㼍㼘㼕㼦㼑㼐㻌㼔㼛㼘㼐㼕㼚㼓㻌㼓㼍㼕㼚㼟㻌㼛㼚㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚

㻔㻝㻞㻣㻕
㻔㻟㻥㻜㻕
㻔㻟㻝㻡㻕
㻔㻢㻣㻟㻕
㻔㻝㻘㻡㻜㻢㻕

㻔㻝㻟㻠㻕
㻔㻟㻥㻜㻕
㻔㻠㻢㻟㻕
㻔㻡㻥㻥㻕
㻔㻝㻘㻡㻤㻣㻕

㻔㻝㻘㻡㻠㻣㻕
㻔㻠㻘㻡㻜㻠㻕
㻔㻡㻘㻟㻠㻣㻕
㻔㻢㻘㻥㻝㻤㻕
㻔㻝㻤㻘㻟㻞㻥㻕

㻺㼑㼠㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻡㻘㻝㻤㻥

㼰㻠㻘㻣㻡㻝

㻐㻡㻠㻘㻤㻣㻠

㻺㼑㼠㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻌㼍㼞㼑㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼎㼍㼘㼍㼚㼏㼑㻌㼟㼔㼑㼑㼠㼟㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝
㻝㻞㻛㻞㻜㻝㻞
㻯㼡㼞㼞㼑㼚㼠㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻟㻘㻞㻜㻝
㼰㻞㻘㻤㻤㻝
㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼍㼚㼐㻌㼛㼠㼔㼑㼞㻌㼚㼛㼚㼏㼡㼞㼞㼑㼚㼠㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻞㻘㻝㻝㻡
㻞㻘㻜㻟㻜
㻯㼡㼞㼞㼑㼚㼠㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻝㻤㻕㻔㻢㻕㻰㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼘㼕㼍㼎㼕㼘㼕㼠㼕㼑㼟㻌㻔㼚㼛㼚㼏㼡㼞㼞㼑㼚㼠㻕㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚
㻔㻝㻜㻤㻕
㻔㻝㻡㻟㻕
㻺㼑㼠㻌㼐㼑㼒㼑㼞㼞㼑㼐㻌㼠㼍㼤㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻡㻘㻝㻤㻥
㼰㻠㻘㻣㻡㻝

㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻐㻟㻟㻘㻞㻣㻡
㻞㻟㻘㻠㻠㻢
㻔㻢㻥㻕㻔㻝㻘㻣㻢㻣㻕
㻐㻡㻠㻘㻤㻣㻠

Annual Report 2012 | 68

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻝㻢㻚㻌㻸㼛㼟㼟㻌㼛㼚㻌㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠㻌㼛㼒㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻴㻻㻾㻵㻮㻭 㼞㼑㼢㼕㼑㼣㼑㼐 㼕㼠㼟 㼘㼛㼚㼓㻙㼘㼕㼢㼑㼐 㼍㼟㼟㼑㼠㼟 㼒㼛㼞 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠㻘 㼍㼚㼐㻘 㼍㼟 㼍 㼞㼑㼟㼡㼘㼠㻘 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠 㼘㼛㼟㼟㼑㼟 㼣㼑㼞㼑 㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐 㼎㼥 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼒㼛㼞㼠㼔㼑㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻌㼍㼟㼟㼑㼠㻌㼓㼞㼛㼡㼜㼟㻌㼍㼟㻌㼛㼠㼔㼑㼞㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼒㼛㼞㻌㼠㼔㼑㻌㼥㼑㼍㼞㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻚㻸㼛㼏㼍㼠㼕㼛㼚
㼀㼛㼗㼥㼛㻘㻌㻶㼍㼜㼍㼚㻷㼥㼛㼠㼛㻘㻌㻶㼍㼜㼍㼚㻹㼛㼚㼠㼜㼑㼘㼘㼕㼑㼞㻘㻌㻲㼞㼍㼚㼏㼑㻌㼁㼟㼑㻭㼟㼟㼑㼠㼟㻌㼒㼛㼞㼐㼕㼟㼜㼛㼟㼍㼘
㻵㼐㼘㼑
㻵㼐㼘㼑

㼀㼥㼜㼑
㻮㼡㼕㼘㼐㼕㼚㼓㼟㻌㼍㼚㼐㻌㼟㼠㼞㼡㼏㼠㼡㼞㼑㼟㻸㼍㼚㼐㻹㼍㼏㼔㼕㼚㼑㼞㼥㻌㼍㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻹㼕㼘㼘㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚
㼰㻢㻣
㼰㻝㻣
㼰㻝㻞

㻔㻮㼍㼏㼗㼓㼞㼛㼡㼚㼐㻕㻵㼚 㼠㼔㼑 㼏㼍㼟㼑 㼛㼒 㼍㼟㼟㼑㼠㼟 㼒㼛㼞 㼐㼕㼟㼜㼛㼟㼍㼘㻘 㼐㼕㼟㼜㼛㼟㼍㼘 㼛㼒 㼑㼝㼡㼕㼜㼙㼑㼚㼠 㼣㼍㼟 㼐㼑㼠㼑㼞㼙㼕㼚㼑㼐 㼒㼛㼘㼘㼛㼣㼕㼚㼓 㼍 㼠㼞㼍㼚㼟㼒㼑㼞 㼛㼒 㼍 㼎㼞㼍㼚㼏㼔 㼛㼞 㼟㼍㼘㼑㼟 㼛㼒㼒㼕㼏㼑 㼛㼒 㼠㼔㼑㻯㼛㼙㼜㼍㼚㼥 㼛㼞 㼟㼛㼙㼑 㼛㼒 㼕㼠㼟 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻚 㻵㼚 㼠㼔㼑 㼏㼍㼟㼑 㼛㼒 㼕㼐㼘㼑 㼍㼟㼟㼑㼠㼟㻘 㼠㼔㼑㼞㼑 㼣㼍㼟 㼚㼛 㼏㼛㼚㼏㼞㼑㼠㼑 㼜㼘㼍㼚 㼠㼛 㼡㼟㼑 㼠㼔㼑 㼍㼟㼟㼑㼠㼟 㼒㼛㼞㼎㼡㼟㼕㼚㼑㼟㼟㻚 㼀㼔㼡㼟㻘 㼠㼔㼑 㼎㼛㼛㼗 㼢㼍㼘㼡㼑 㼛㼒 㼠㼔㼑㼟㼑 㼍㼟㼟㼑㼠㼟 㼣㼍㼟 㼘㼛㼣㼑㼞㼑㼐 㼠㼛 㼠㼔㼑 㼞㼑㼏㼛㼢㼑㼞㼍㼎㼘㼑 㼢㼍㼘㼡㼑㻘 㼍㼚㼐 㼠㼔㼑 㼞㼑㼟㼡㼘㼠㼍㼚㼠 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠 㼘㼛㼟㼟 㼣㼍㼟㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐㻌㼍㼟㻌㼛㼠㼔㼑㼞㻌㼑㼤㼜㼑㼚㼟㼑㼟㻚㻔㻹㼑㼠㼔㼛㼐㻌㼡㼟㼑㼐㻌㼒㼛㼞㻌㼓㼞㼛㼡㼜㼕㼚㼓㻕㻵㼚 㼏㼛㼚㼚㼑㼏㼠㼕㼛㼚 㼣㼕㼠㼔 㼠㼔㼑 㼡㼟㼑 㼛㼒 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠 㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻘 㼎㼡㼟㼕㼚㼑㼟㼟 㼍㼟㼟㼑㼠㼟 㼍㼞㼑 㼓㼞㼛㼡㼜㼑㼐 㼛㼚 㼍 㼞㼑㼜㼛㼞㼠㼕㼚㼓 㼟㼑㼓㼙㼑㼚㼠 㼎㼍㼟㼕㼟㻚 㻭㼟㼟㼑㼠㼟 㼒㼛㼞㼐㼕㼟㼜㼛㼟㼍㼘㻌㼍㼚㼐㻌㼕㼐㼘㼑㻌㼍㼟㼟㼑㼠㼟㻌㼣㼔㼕㼏㼔㻌㼍㼞㼑㻌㼚㼛㼠㻌㼑㼤㼜㼑㼏㼠㼑㼐㻌㼠㼛㻌㼎㼑㻌㼡㼟㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼒㼡㼠㼡㼞㼑㻌㼍㼞㼑㻌㼓㼞㼛㼡㼜㼑㼐㻌㼛㼚㻌㼍㻌㼜㼞㼛㼜㼑㼞㼠㼥㻙㼎㼥㻙㼜㼞㼛㼜㼑㼞㼠㼥㻌㼎㼍㼟㼕㼟㻚㻔㻹㼑㼠㼔㼛㼐㻌㼡㼟㼑㼐㻌㼒㼛㼞㻌㼏㼍㼘㼏㼡㼘㼍㼠㼕㼚㼓㻌㼍㻌㼞㼑㼏㼛㼢㼑㼞㼍㼎㼘㼑㻌㼍㼙㼛㼡㼚㼠㻕㼀㼔㼑 㼞㼑㼏㼛㼢㼑㼞㼍㼎㼘㼑 㼍㼙㼛㼡㼚㼠 㼛㼒 㼕㼐㼘㼑 㼍㼟㼟㼑㼠㼟 㼣㼍㼟 㼙㼑㼍㼟㼡㼞㼑㼐 㼎㼥 㼠㼔㼑 㼑㼟㼠㼕㼙㼍㼠㼑㼐 㼚㼑㼠 㼞㼑㼍㼘㼕㼦㼍㼎㼘㼑 㼢㼍㼘㼡㼑㻚 㻭㼟 㼕㼠 㼕㼟 㼐㼕㼒㼒㼕㼏㼡㼘㼠 㼠㼛 㼟㼑㼘㼘 㼛㼞 㼐㼕㼢㼑㼞㼠㼙㼍㼏㼔㼕㼚㼑㼞㼥 㼍㼚㼐 㼑㼝㼡㼕㼜㼙㼑㼚㼠 㼑㼘㼟㼑㼣㼔㼑㼞㼑㻘 㼠㼔㼑 㼞㼑㼏㼛㼢㼑㼞㼍㼎㼘㼑 㼍㼙㼛㼡㼚㼠 㼣㼍㼟 㼑㼟㼠㼕㼙㼍㼠㼑㼐 㼍㼠 㼦㼑㼞㼛㻘 㼣㼔㼕㼘㼑 㼠㼔㼑 㼞㼑㼏㼛㼢㼑㼞㼍㼎㼘㼑 㼍㼙㼛㼡㼚㼠 㼒㼛㼞 㼘㼍㼚㼐㼣㼍㼟 㼑㼟㼠㼕㼙㼍㼠㼑㼐 㼎㼍㼟㼑㼐 㼛㼚 㼜㼡㼎㼘㼕㼏㼘㼥 㼍㼚㼚㼛㼡㼚㼏㼑㼐 㼙㼍㼞㼗㼑㼠 㼢㼍㼘㼡㼑㼟 㼒㼛㼞 㼘㼍㼚㼐㻚 㼀㼔㼑 㼞㼑㼏㼛㼢㼑㼞㼎㼘㼑 㼢㼍㼘㼡㼑 㼛㼒 㼍㼟㼟㼑㼠㼟 㼒㼛㼞 㼐㼕㼟㼜㼛㼟㼍㼘 㼣㼍㼟 㼙㼑㼍㼟㼡㼞㼑㼐㼍㼠㻌㼞㼑㼍㼟㼛㼚㼍㼎㼘㼑㻌㼑㼟㼠㼕㼙㼍㼠㼑㼟㻌㼍㼚㼐㻌㼣㼍㼟㻌㼚㼛㼠㻌㼐㼕㼟㼏㼛㼡㼚㼠㼑㼐㻌㼍㼟㻌㼠㼔㼑㻌㼐㼕㼟㼜㼛㼟㼍㼘㻌㼜㼑㼞㼕㼛㼐㻌㼣㼍㼟㻌㼑㼤㼜㼑㼏㼠㼑㼐㻌㼠㼛㻌㼎㼑㻌㼟㼔㼛㼞㼠㻚㻴㻻㻾㻵㻮㻭 㼞㼑㼢㼕㼑㼣㼑㼐 㼕㼠㼟 㼘㼛㼚㼓㻙㼘㼕㼢㼑㼐 㼍㼟㼟㼑㼠㼟 㼒㼛㼞 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠㻘 㼍㼚㼐㻘 㼍㼟 㼍 㼞㼑㼟㼡㼘㼠㻘 㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠 㼘㼛㼟㼟㼑㼟 㼣㼑㼞㼑 㼞㼑㼏㼛㼓㼚㼕㼦㼑㼐 㼎㼥 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼒㼛㼞㼠㼔㼑㻌㼒㼛㼘㼘㼛㼣㼕㼚㼓㻌㼍㼟㼟㼑㼠㻌㼓㼞㼛㼡㼜㼟㻌㼍㼟㻌㼛㼠㼔㼑㼞㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㼒㼛㼞㻌㼠㼔㼑㻌㼥㼑㼍㼞㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻚㻸㼛㼏㼍㼠㼕㼛㼚

㼁㼟㼑㻹㼛㼚㼠㼜㼑㼘㼘㼕㼑㼞㻘㻌㻲㼞㼍㼚㼏㼑㻌㻺㼑㼡㼔㼍㼡㼟㼑㼚㻘㻌㻳㼑㼞㼙㼍㼚㼥㻷㼥㼛㼠㼛㻘㻌㻶㼍㼜㼍㼚

㻵㼐㼘㼑
㻙
㻵㼐㼘㼑

㼀㼥㼜㼑
㻹㼕㼘㼘㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻹㼍㼏㼔㼕㼚㼑㼞㼥㻌㼍㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻘㻻㼠㼔㼑㼞㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㼰㻝㻜㻠㻳㼛㼛㼐㼣㼕㼘㼘
㼰㻞㻝
㻸㼍㼚㼐
㼰㻤

㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻐㻝㻘㻞㻜㻝
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㻠㻝㻟
㻔㻝㻠㻟㻕
㼀㼍㼤㻌㻔㼑㼤㼜㼑㼚㼟㼑㻕㻌㼛㼞㻌㼎㼑㼚㼑㼒㼕㼠㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻞㻣㻜㻿㼡㼎㼠㼛㼠㼍㼘㻘㻌㼚㼑㼠㻌㼠㼍㼤㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻲㼛㼞㼑㼕㼓㼚㻌㼏㼡㼞㼞㼑㼚㼏㼥㻌㼠㼞㼍㼚㼟㼘㼍㼠㼕㼛㼚㻌㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㼟㻵㼚㼏㼞㼑㼍㼟㼑㻌㻔㼐㼑㼏㼞㼑㼍㼟㼑㻕㻌㼐㼡㼞㼕㼚㼓㻌㼠㼔㼑㻌㼥㼑㼍㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻟㻘㻞㻥㻣㻿㼔㼍㼞㼑㻌㼛㼒㻌㼛㼠㼔㼑㼞㻌㼏㼛㼙㼜㼞㼑㼔㼑㼚㼟㼕㼢㼑㻌㼕㼚㼏㼛㼙㼑㻌㼛㼒㻌㼍㼟㼟㼛㼏㼕㼍㼠㼑㼟㻌㼍㼏㼏㼛㼡㼚㼠㼑㼐㻌㼒㼛㼞㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼑㼝㼡㼕㼠㼥㻌㼙㼑㼠㼔㼛㼐㻵㼚㼏㼞㼑㼍㼟㼑㻌㻔㼐㼑㼏㼞㼑㼍㼟㼑㻕㻌㼐㼡㼞㼕㼚㼓㻌㼠㼔㼑㻌㼥㼑㼍㼞㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻔㻞㻕㼀㼛㼠㼍㼘㻌㼛㼠㼔㼑㼞㻌㼏㼛㼙㼜㼞㼑㼔㼑㼚㼟㼕㼢㼑㻌㼕㼚㼏㼛㼙㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼰㻟㻘㻡㻢㻡

㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻐㻠㻘㻣㻣㻜
㻙㻠㻘㻣㻣㻜㻔㻝㻘㻢㻡㻝㻕
㻟㻘㻝㻝㻤㻟㻤㻘㻜㻤㻜
㻔㻞㻟㻕㻐㻠㻝㻘㻝㻣㻡

㻞㻝㻚㻌㻿㼑㼓㼙㼑㼚㼠㻌㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻳㼑㼚㼑㼞㼍㼘㻌㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼞㼑㼜㼛㼞㼠㼍㼎㼘㼑㻌㼟㼑㼓㼙㼑㼚㼠㼟㻔㻝㻕㻌㻯㼍㼘㼏㼡㼘㼍㼠㼕㼛㼚㻌㼙㼑㼠㼔㼛㼐㻌㼒㼛㼞㻌㼞㼑㼜㼛㼞㼠㼍㼎㼘㼑㻌㼟㼑㼓㼙㼑㼚㼠㼟㻴㻻㻾㻵㻮㻭㻓㼟 㼞㼑㼜㼛㼞㼠㼍㼎㼘㼑 㼟㼑㼓㼙㼑㼚㼠㼟 㼍㼞㼑 㼏㼛㼙㼜㼛㼚㼑㼚㼠㼟 㼛㼒 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼎㼛㼡㼠 㼣㼔㼕㼏㼔 㼟㼑㼜㼍㼞㼍㼠㼑 㼒㼕㼚㼍㼚㼏㼕㼍㼘 㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚 㼕㼟 㼍㼢㼍㼕㼘㼍㼎㼘㼑 㼍㼚㼐㼠㼔㼍㼠㻌㼍㼞㼑㻌㼑㼢㼍㼘㼡㼍㼠㼑㼐㻌㼞㼑㼓㼡㼘㼍㼞㼘㼥㻌㼎㼥㻌㼠㼔㼑㻌㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠㻌㼕㼚㻌㼐㼑㼏㼕㼐㼕㼚㼓㻌㼔㼛㼣㻌㼠㼛㻌㼍㼘㼘㼛㼏㼍㼠㼑㻌㼞㼑㼟㼛㼡㼞㼏㼑㼟㻌㼍㼚㼐㻌㼕㼚㻌㼍㼟㼟㼑㼟㼟㼕㼚㼓㻌㼜㼑㼞㼒㼛㼞㼙㼍㼚㼏㼑㻚㻌㼀㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼔㼍㼟 㼑㼟㼠㼍㼎㼘㼕㼟㼔㼑㼐 㼠㼔㼑 㼟㼑㼓㼙㼑㼚㼠 㼟㼠㼞㼍㼠㼑㼓㼥 㼛㼒㼒㼕㼏㼑 㼒㼛㼞 㼑㼍㼏㼔 㼜㼞㼛㼐㼡㼏㼠 㼍㼚㼐 㼟㼑㼞㼢㼕㼏㼑 㼍㼠 㼕㼠㼟 㼔㼑㼍㼐㼝㼡㼍㼞㼠㼑㼞㼟 㼣㼔㼕㼏㼔 㼐㼞㼍㼣㼟 㼍㼏㼛㼙㼜㼞㼑㼔㼑㼚㼟㼕㼢㼑㻌㼜㼘㼍㼚㻌㼒㼛㼞㻌㻶㼍㼜㼍㼚㻌㼍㼚㼐㻌㼛㼢㼑㼞㼟㼑㼍㼟㻌㼙㼍㼞㼗㼑㼠㼟㻌㼒㼛㼞㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼐㼑㼢㼑㼘㼛㼜㼙㼑㼚㼠㻚㻌㼀㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼠㼔㼡㼟 㼕㼟 㼏㼛㼙㼜㼛㼟㼑㼐 㼛㼒 㼎㼡㼟㼕㼚㼑㼟㼟 㼟㼑㼓㼙㼑㼚㼠㼟 㼎㼥 㼜㼞㼛㼐㼡㼏㼠 㼍㼚㼐 㼟㼑㼞㼢㼕㼏㼑 㼠㼔㼍㼠 㼍㼞㼑 㼐㼑㼠㼑㼞㼙㼕㼚㼑㼐 㼍㼠 㼠㼔㼑 㼔㼑㼍㼐 㼛㼒㼒㼕㼏㼑㻚 㼀㼔㼑㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑 㼀㼑㼟㼠 㻿㼥㼟㼠㼑㼙㼟㻘 㻼㼞㼛㼏㼑㼟㼟 㻒 㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟㻘 㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼓㼍㼚㼛㼟㼠㼕㼏 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟㻘㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻌㼍㼚㼐㻌㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻌㼏㼛㼙㼜㼞㼕㼟㼑㻌㼒㼕㼢㼑㻌㼞㼑㼜㼛㼞㼠㼍㼎㼘㼑㻌㼟㼑㼓㼙㼑㼚㼠㼟㻚㻹㼍㼖㼛㼞㻌㼜㼞㼛㼐㼡㼏㼠㼟㻌㼛㼒㻌㼑㼍㼏㼔㻌㼟㼑㼓㼙㼑㼚㼠㻌㼍㼞㼑㻌㼐㼑㼟㼏㼞㼕㼎㼑㼐㻌㼎㼑㼘㼛㼣㻚㻔㼍㻕㻌㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㼀㼑㼟㼠㻌㻿㼥㼟㼠㼑㼙㼟㻱㼙㼕㼟㼟㼕㼛㼚 㻹㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠 㻿㼥㼟㼠㼑㼙㼟㻘 㻵㼚㻙㼁㼟㼑 㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑 㻱㼙㼕㼟㼟㼕㼛㼚㼟 㻭㼚㼍㼘㼥㼦㼑㼞㼟㻘 㻻㼚㻙㻮㼛㼍㼞㼐 㻱㼙㼕㼟㼟㼕㼛㼚 㻹㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠㻘 㻰㼞㼕㼢㼑㼘㼕㼚㼑 㼀㼑㼟㼠㻿㼥㼟㼠㼑㼙㼟㻘㻌㻱㼚㼓㼕㼚㼑㻌㼀㼑㼟㼠㻌㻿㼥㼟㼠㼑㼙㼟㻘㻌㻮㼞㼍㼗㼑㻌㼀㼑㼟㼠㻌㻿㼥㼟㼠㼑㼙㼟㻘㻌㻰㼞㼕㼢㼑㻌㻾㼑㼏㼛㼞㼐㼑㼞㼟㻌㻔㼎㻕㻌㻼㼞㼛㼏㼑㼟㼟㻌㻒㻌㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘 㻹㼑㼍㼟㼡㼞㼕㼚㼓 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻔㻿㼠㼍㼏㼗 㻳㼍㼟 㻭㼚㼍㼘㼥㼦㼑㼞㼟㻘 㼃㼍㼠㼑㼞 㻽㼡㼍㼘㼕㼠㼥 㻭㼚㼍㼘㼥㼟㼕㼟 㼍㼚㼐 㻱㼤㼍㼙㼕㼚㼍㼠㼕㼛㼚 㻿㼥㼟㼠㼑㼙㼟㻘 㻭㼕㼞 㻼㼛㼘㼘㼡㼠㼕㼛㼚㻭㼚㼍㼘㼥㼦㼑㼞㼟㻕㻘㻌㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌㻾㼍㼐㼕㼍㼠㼕㼛㼚㻌㻹㼛㼚㼕㼠㼛㼞㼟㻔㼏㻕㻌㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻱㼝㼡㼕㼜㼙㼑㼚㼠 㼒㼛㼞 㻮㼘㼛㼛㼐 㻿㼍㼙㼜㼘㼑 㻭㼚㼍㼘㼥㼟㼕㼟 㻔㻴㼑㼙㼍㼠㼛㼘㼛㼓㼥 㻭㼚㼍㼘㼥㼦㼑㼞㼟㻘 㻱㼝㼡㼕㼜㼙㼑㼚㼠 㼒㼛㼞 㻹㼑㼍㼟㼡㼞㼕㼚㼓 㻵㼙㼙㼡㼚㼛㼘㼛㼓㼕㼏㼍㼘 㻾㼑㼟㼜㼛㼚㼟㼑㼟㻘 㻯㼘㼕㼚㼕㼏㼍㼘㻯㼔㼑㼙㼕㼟㼠㼞㼥㻌㻭㼚㼍㼘㼥㼦㼑㼞㼟㻘㻌㻮㼘㼛㼛㼐㻌㻿㼡㼓㼍㼞㻌㻹㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠㻌㻿㼥㼟㼠㼑㼙㼟㻕㻔㼐㻕㻌㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻹㼍㼟㼟 㻲㼘㼛㼣 㻯㼛㼚㼠㼞㼛㼘㼘㼑㼞㼟㻘 㻯㼔㼑㼙㼕㼏㼍㼘 㻯㼛㼚㼏㼑㼚㼠㼞㼍㼠㼕㼛㼚 㻹㼛㼚㼕㼠㼛㼞㼟㻘 㼀㼔㼕㼚㻙㻲㼕㼘㼙 㻭㼚㼍㼘㼥㼦㼑㼞㼟 㼒㼛㼞 㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㼟 㼍㼚㼐 㻸㻯㻰 㻵㼚㼟㼜㼑㼏㼠㼕㼛㼚㻘㻾㼑㼠㼕㼏㼘㼑㻛㻹㼍㼟㼗㻌㻼㼍㼞㼠㼕㼏㼘㼑㻌㻰㼑㼠㼑㼏㼠㼕㼛㼚㻌㻿㼥㼟㼠㼑㼙㼟㻘㻌㻾㼑㼟㼕㼐㼡㼍㼘㻌㻳㼍㼟㻌㻭㼚㼍㼘㼥㼦㼑㼞㼟㻔㼑㻕㻌㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏 㻭㼚㼍㼘㼥㼟㼕㼟 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻔㼜㻴 㻹㼑㼠㼑㼞㼟㻘 㻼㼍㼞㼠㼕㼏㼘㼑㻙㻿㼕㼦㼑 㻰㼕㼟㼠㼞㼕㼎㼡㼠㼕㼛㼚 㻭㼚㼍㼘㼥㼦㼑㼞㼟㻘 㼄㻙㻾㼍㼥 㻲㼘㼡㼛㼞㼑㼟㼏㼑㼚㼏㼑 㻭㼚㼍㼘㼥㼦㼑㼞㼟㻘 㻾㼍㼙㼍㼚㻘㻿㼜㼑㼏㼠㼞㼛㼜㼔㼛㼠㼛㼙㼑㼠㼑㼞㼟㻘㻌㻰㼕㼒㼒㼞㼍㼏㼠㼕㼛㼚㻘㻌㻳㼞㼍㼠㼕㼚㼓㼟㻕㻔㻞㻕㻌㻹㼑㼠㼔㼛㼐㻌㼛㼒㻌㼙㼑㼍㼟㼡㼞㼑㼙㼑㼚㼠㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻌㻔㼘㼛㼟㼟㻕㻘㻌㼍㼟㼟㼑㼠㼟㻌㼍㼚㼐㻌㼛㼠㼔㼑㼞㻌㼙㼍㼠㼑㼞㼕㼍㼘㻌㼕㼠㼑㼙㼟㻌㼎㼥㻌㼞㼑㼜㼛㼞㼠㼍㼎㼘㼑㻌㼟㼑㼓㼙㼑㼚㼠㼀㼔㼑 㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓 㼙㼑㼠㼔㼛㼐㼟 㼍㼜㼜㼘㼕㼑㼐 㼒㼛㼞 㼞㼑㼜㼛㼞㼠㼍㼎㼘㼑 㼟㼑㼓㼙㼑㼚㼠㼟 㼍㼞㼑 㼕㼐㼑㼚㼠㼕㼏㼍㼘 㼣㼕㼠㼔 㼠㼔㼛㼟㼑 㼟㼠㼍㼠㼑㼐 㼕㼚 㻺㼛㼠㼑 㻞㻘 㻎㻿㼡㼙㼙㼍㼞㼥 㼛㼒 㼟㼕㼓㼚㼕㼒㼕㼏㼍㼚㼠㼍㼏㼏㼛㼡㼚㼠㼕㼚㼓㻌㼜㼛㼘㼕㼏㼕㼑㼟㻚㻎㻌㻵㼚㼏㼛㼙㼑㻌㼒㼛㼞㻌㼑㼍㼏㼔㻌㼞㼑㼜㼛㼞㼠㼍㼎㼘㼑㻌㼟㼑㼓㼙㼑㼚㼠㻌㼕㼟㻌㼠㼔㼑㻌㼍㼙㼛㼡㼚㼠㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻚
Annual Report 2012 | 70

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻔㻟㻕㻌㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼕㼚㼏㼛㼙㼑㻌㻔㼘㼛㼟㼟㻕㻘㻌㼍㼟㼟㼑㼠㼟㻌㼍㼚㼐㻌㼛㼠㼔㼑㼞㻌㼙㼍㼠㼑㼞㼕㼍㼘㻌㼕㼠㼑㼙㼟㻌㼎㼥㻌㼞㼑㼜㼛㼞㼠㼍㼎㼘㼑㻌㼟㼑㼓㼙㼑㼚㼠㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻝

㻿㼍㼘㼑㼟㻿㼍㼘㼑㼟㻌㼠㼛㻌㼛㼡㼠㼟㼕㼐㼑㻌㼏㼡㼟㼠㼛㼙㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼠㼑㼞㼟㼑㼓㼙㼑㼚㼠㻌㼟㼍㼘㼑㼟㻌㼍㼚㼐㻌㼠㼞㼍㼚㼟㼒㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼑㼓㼙㼑㼚㼠㻌㼕㼚㼏㼛㼙㼑㻌㻔㼘㼛㼟㼟㻕㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼑㼓㼙㼑㼚㼠㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻌㼕㼠㼑㼙㼟㻦㻰㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻭㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㼛㼒㻌㼓㼛㼛㼐㼣㼕㼘㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼕㼚㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼟㻌㼍㼏㼏㼛㼡㼚㼠㼑㼐㼒㼛㼞㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼑㼝㼡㼕㼠㼥㻌㼙㼑㼠㼔㼛㼐㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼏㼞㼑㼍㼟㼑㻌㼕㼚㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼍㼚㼐㻌㼕㼚㼠㼍㼚㼓㼕㼎㼘㼑㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻼㼞㼛㼏㼑㼟㼟㻌㻒㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㼰㻟㻤㻘㻢㻣㻤
㻙㻟㻤㻘㻢㻣㻤
㼰㻞㻘㻤㻟㻠
㼰㻟㻝㻘㻟㻤㻟

㼰㻝㻠㻘㻡㻡㻤
㻙㻝㻠㻘㻡㻡㻤
㼰㻞㻘㻡㻟㻞
㼰㻝㻟㻘㻜㻢㻡

㼰㻞㻟㻘㻠㻤㻡
㻙㻞㻟㻘㻠㻤㻡
㼰㻟㻘㻝㻢㻢
㼰㻝㻣㻘㻠㻡㻤

㼰㻞㻠㻘㻢㻥㻠
㻙㻞㻠㻘㻢㻥㻠
㼰㻠㻘㻥㻟㻥
㼰㻞㻞㻘㻜㻝㻜

㻝㻘㻞㻜㻣
㻡

㻠㻣㻤
㻙

㻝㻘㻞㻜㻢
㻝㻜

㻞㻠

㻙

㻣㻜㻡

㻞㻟㻞

㻹㼑㼐㼕㼏㼍㼘㻙
㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻭㼐㼖㼡㼟㼠㼙㼑㼚㼠㻯㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㼰㻞㻞㻘㻜㻠㻜
㻙㻌㻌㻌㻌㻌㻌㻌㻌㻞㻞㻘㻜㻠㻜㼰㻝㻘㻠㻟㻟
㼰㻝㻢㻘㻟㻤㻤㻙㻙㻙㻙㼰㻠㻠㻘㻟㻠㻞

㼰㻝㻞㻟㻘㻠㻡㻢
㻙㻝㻞㻟㻘㻠㻡㻢
㼰㻝㻠㻘㻥㻜㻢
㼰㻝㻠㻠㻘㻢㻠㻥

㻢㻥㻟
㻙

㻡㻞㻡
㻝㻤

㻙
㻙

㻠㻘㻝㻝㻝
㻟㻠

㻙

㻙

㻙

㻙

㻞㻠

㻝㻘㻡㻞㻣

㻤㻠㻤

㻝㻘㻟㻥㻥

㻙

㻠㻘㻣㻝㻟

㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻝㻞㻛㻞㻜㻝㻞

㻿㼍㼘㼑㼟㻿㼍㼘㼑㼟㻌㼠㼛㻌㼛㼡㼠㼟㼕㼐㼑㻌㼏㼡㼟㼠㼛㼙㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼠㼑㼞㼟㼑㼓㼙㼑㼚㼠㻌㼟㼍㼘㼑㼟㻌㼍㼚㼐㻌㼠㼞㼍㼚㼟㼒㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼑㼓㼙㼑㼚㼠㻌㼕㼚㼏㼛㼙㼑㻌㻔㼘㼛㼟㼟㻕㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼑㼓㼙㼑㼚㼠㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻌㼕㼠㼑㼙㼟㻦㻰㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻭㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㼛㼒㻌㼓㼛㼛㼐㼣㼕㼘㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼕㼚㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼟㻌㼍㼏㼏㼛㼡㼚㼠㼑㼐㼒㼛㼞㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼑㼝㼡㼕㼠㼥㻌㼙㼑㼠㼔㼛㼐㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼏㼞㼑㼍㼟㼑㻌㼕㼚㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼍㼚㼐㻌㼕㼚㼠㼍㼚㼓㼕㼎㼘㼑㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼍㼘㼑㼟㻿㼍㼘㼑㼟㻌㼠㼛㻌㼛㼡㼠㼟㼕㼐㼑㻌㼏㼡㼟㼠㼛㼙㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼠㼑㼞㼟㼑㼓㼙㼑㼚㼠㻌㼟㼍㼘㼑㼟㻌㼍㼚㼐㻌㼠㼞㼍㼚㼟㼒㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼑㼓㼙㼑㼚㼠㻌㼕㼚㼏㼛㼙㼑㻌㻔㼘㼛㼟㼟㻕㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼑㼓㼙㼑㼚㼠㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㻌㼕㼠㼑㼙㼟㻦㻰㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻭㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㼛㼒㻌㼓㼛㼛㼐㼣㼕㼘㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼕㼚㻌㼍㼒㼒㼕㼘㼕㼍㼠㼑㼟㻌㼍㼏㼏㼛㼡㼚㼠㼑㼐㼒㼛㼞㻌㼡㼟㼕㼚㼓㻌㼠㼔㼑㻌㼑㼝㼡㼕㼠㼥㻌㼙㼑㼠㼔㼛㼐㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻵㼚㼏㼞㼑㼍㼟㼑㻌㼕㼚㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼍㼚㼐㻌㼕㼚㼠㼍㼚㼓㼕㼎㼘㼑㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼑㼐㼕㼏㼍㼘㻙
㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻼㼞㼛㼏㼑㼟㼟㻌㻒㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㼰㻠㻟㻘㻞㻟㻜
㻙㻠㻟㻘㻞㻟㻜
㼰㻠㻘㻠㻝㻞
㼰㻟㻣㻘㻣㻡㻡

㼰㻝㻟㻘㻣㻜㻥
㻙㻝㻟㻘㻣㻜㻥
㼰㻝㻘㻢㻠㻞
㼰㻝㻞㻘㻟㻝㻟

㼰㻞㻞㻘㻠㻜㻜
㻙㻞㻞㻘㻠㻜㻜
㼰㻞㻘㻠㻣㻤
㼰㻝㻤㻘㻞㻣㻣

㼰㻝㻣㻘㻤㻢㻝
㻙㻝㻣㻘㻤㻢㻝
㼰㻞㻘㻞㻣㻠
㼰㻝㻤㻘㻥㻢㻟

㻝㻘㻝㻟㻟
㻠㻠

㻟㻤㻡
㻙

㻝㻘㻝㻟㻝
㻙

㻙

㻙

㻞㻘㻜㻟㻝

㻣㻞㻜

㻭㼐㼖㼡㼟㼠㼙㼑㼚㼠㻯㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㼰㻞㻜㻘㻠㻜㻢
㻙㻞㻜㻘㻠㻜㻢
㼰㻥㻠㻟㼰㻝㻣㻘㻢㻢㻝㻙㻙㻙㻙㼰㻠㻤㻘㻤㻢㻡

㼰㻝㻝㻣㻘㻢㻜㻥
㻙㻝㻝㻣㻘㻢㻜㻥
㼰㻝㻝㻘㻣㻡㻝
㼰㻝㻡㻟㻘㻤㻟㻢

㻡㻠㻣
㻟㻣

㻠㻠㻣
㻝㻢

㻙
㻙

㻟㻘㻢㻠㻡
㻥㻤

㻙

㻙

㻙

㻙

㻙

㻝㻘㻠㻤㻢

㻝㻘㻤㻡㻡

㻝㻘㻣㻤㻤

㻙

㻣㻘㻤㻤㻞

㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻌㻌㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻝㻞㻛㻞㻜㻝㻞
㻹㼑㼐㼕㼏㼍㼘㻙
㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞 㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻼㼞㼛㼏㼑㼟㼟㻌㻒㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻐㻠㻥㻥㻘㻟㻜㻢
㻙㻠㻥㻥㻘㻟㻜㻢
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㻐㻠㻟㻢㻘㻜㻣㻜

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㻙㻝㻡㻤㻘㻟㻟㻥
㻐㻝㻤㻘㻥㻢㻡
㻐㻝㻠㻞㻘㻞㻝㻡

㻐㻞㻡㻤㻘㻣㻞㻜
㻙㻞㻡㻤㻘㻣㻞㻜
㻐㻞㻤㻘㻢㻞㻜
㻐㻞㻝㻝㻘㻜㻥㻥

㻐㻞㻜㻢㻘㻞㻥㻠
㻙㻞㻜㻢㻘㻞㻥㻠
㻐㻞㻢㻘㻞㻢㻠
㻐㻞㻝㻥㻘㻜㻞㻞

㻝㻟㻘㻜㻤㻢
㻡㻜㻤

㻠㻘㻠㻠㻢
㻙

㻝㻟㻘㻜㻢㻟㻙㻙㻙㻞㻟㻘㻠㻡㻤

㻤㻘㻟㻝㻢㻭㼐㼖㼡㼟㼠㼙㼑㼚㼠㻯㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㻌㻌㻌㻌 㻞㻟㻡㻘㻢㻤㻥㻙㻌㻌㻌㻌㻌 㻞㻟㻡㻘㻢㻤㻥㻌㻌㻌㻌㻌㻌㻌 㻝㻜㻘㻤㻥㻝㻐㻞㻜㻟㻘㻥㻤㻠㻙㻙㻙㻙㻐㻡㻢㻠㻘㻟㻥㻝

㻐㻝㻘㻟㻡㻤㻘㻟㻤㻡㻙㻝㻘㻟㻡㻤㻘㻟㻤㻡㻐㻝㻟㻡㻘㻣㻞㻠
㻐㻝㻘㻣㻣㻢㻘㻤㻜㻣

㻢㻘㻟㻝㻣
㻠㻞㻣

㻡㻘㻝㻢㻞
㻝㻤㻠

㻙
㻙

㻠㻞㻘㻜㻥㻥
㻝㻘㻝㻟㻝

㻙

㻙

㻙

㻙

㻙

㻝㻣㻘㻝㻢㻟

㻞㻝㻘㻠㻞㻡

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㻺㼛㼠㼑㻌㻝㻚 㻰㼑㼠㼍㼕㼘㼟㻌㼛㼒㻌㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㻌㼍㼙㼛㼡㼚㼠㼟㻌㼍㼞㼑㻌㼍㼟㻌㼒㼛㼘㼘㼛㼣㼟㻦㻔㻝㻕㻌㼁㼚㼍㼘㼘㼛㼏㼍㼠㼑㼐㻌㼍㼙㼛㼡㼚㼠㼟㻌㼠㼛㻌㼎㼑㻌㼕㼚㼏㼘㼡㼐㼑㼐㻌㼕㼚㻌㼠㼔㼑㻌㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㻌㼍㼙㼛㼡㼚㼠㻌㼛㼒㻌㼟㼑㼓㼙㼑㼚㼠㻌㼜㼞㼛㼒㼕㼠㼟㻌㼣㼍㼟㻌㼚㼛㼠㻌㼓㼑㼚㼑㼞㼍㼠㼑㼐㻚㻔㻞㻕㻌㼀㼔㼑㻌㼍㼐㼖㼡㼟㼠㼙㼑㼚㼠㻌㼍㼙㼛㼡㼚㼠㻌㼛㼒㻌\㻠㻤㻘㻤㻢㻡㻌㼙㼕㼘㼘㼕㼛㼚㻌㻔㻐㻡㻢㻠㻘㻟㻥㻝㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻌㻌㼛㼒㻌㼟㼑㼓㼙㼑㼚㼠㻌㼍㼟㼟㼑㼠㼟㻌㼒㼛㼞㻌㼠㼔㼑㻌㼥㼑㼍㼞㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻌㼞㼑㼜㼞㼑㼟㼑㼚㼠㻌㻌㻌㻌㻌㼏㼛㼞㼜㼛㼞㼍㼠㼑㻌㼍㼟㼟㼑㼠㼟㻌㼠㼔㼍㼠㻌㼍㼞㼑㻌㼚㼛㼠㻌㼍㼘㼘㼛㼏㼍㼠㼑㼐㻌㼠㼛㻌㼑㼍㼏㼔㻌㼎㼡㼟㼕㼚㼑㼟㼟㻌㼟㼑㼓㼙㼑㼚㼠㻚㻌㼀㼔㼑㼥㻌㼕㼚㼏㼘㼡㼐㼑㻌㼏㼍㼟㼔㻌㼍㼚㼐㻌㼏㼍㼟㼔㻌㼑㼝㼡㼕㼢㼍㼘㼑㼚㼠㼟㻘㻌㼟㼔㼛㼞㼠㻙㼠㼑㼞㼙㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻘㻌㻌㻌㻌㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻘㻌㼕㼐㼘㼑㻌㼘㼍㼚㼐㻘㻌㼑㼠㼏㻚㻺㼛㼠㼑㻌㻞㻚 㻰㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚 㼍㼚㼐 㼕㼚㼏㼞㼑㼍㼟㼑㼟 㼕㼚 㼠㼍㼚㼓㼕㼎㼘㼑 㼍㼚㼐 㼕㼚㼠㼍㼚㼓㼕㼎㼘㼑 㼒㼕㼤㼑㼐 㼍㼟㼟㼑㼠㼟 㼕㼚㼏㼘㼡㼐㼑 㼘㼛㼚㼓㻙㼠㼑㼞㼙 㼜㼞㼑㼜㼍㼕㼐 㼑㼤㼜㼑㼚㼟㼑㼟 㼍㼚㼐 㼠㼔㼑 㼍㼙㼛㼡㼚㼠 㼛㼒 㼍㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㼍㼟㼟㼛㼏㼕㼍㼠㼑㼐㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㼑㼤㼜㼑㼚㼟㼑㼟㻚㻯㼔㼍㼚㼓㼑㼟㻌㼕㼚㻌㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼙㼑㼠㼔㼛㼐㻌㼒㼛㼞㻌㼜㼞㼛㼜㼑㼞㼠㼥㻘㻌㼜㼘㼍㼚㼠㻌㼍㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㻌㻼㼞㼑㼢㼕㼛㼡㼟㼘㼥㻘 㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚 㼛㼒 㼠㼍㼚㼓㼕㼎㼘㼑 㼒㼕㼤㼑㼐 㼍㼟㼟㼑㼠㼟 㼛㼠㼔㼑㼞 㼠㼔㼍㼚 㼎㼡㼕㼘㼐㼕㼚㼓㼟 㼍㼠 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼚㼐 㼠㼔㼞㼑㼑 㼐㼛㼙㼑㼟㼠㼕㼏 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟 㼣㼍㼟 㼍㼏㼏㼛㼡㼚㼠㼑㼐㼒㼛㼞 㼎㼥 㼠㼔㼑 㼐㼑㼏㼘㼕㼚㼕㼚㼓㻙㼎㼍㼘㼍㼚㼏㼑 㼙㼑㼠㼔㼛㼐㻘 㼎㼡㼠 㼠㼔㼕㼟 㼣㼍㼟 㼏㼔㼍㼚㼓㼑㼐 㼠㼛 㼠㼔㼑 㼟㼠㼞㼍㼕㼓㼔㼠㻙㼘㼕㼚㼑 㼙㼑㼠㼔㼛㼐㻘 㼠㼔㼑 㼙㼑㼠㼔㼛㼐 㼡㼟㼑㼐 㼎㼥 㼠㼔㼑 㼛㼢㼑㼞㼟㼑㼍㼟 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㼒㼞㼛㼙㻌㼒㼕㼟㼏㼍㼘㻌㻞㻜㻝㻞㻚㻭㼟 㼍 㼞㼑㼟㼡㼘㼠 㼛㼒 㼠㼔㼕㼟 㼏㼔㼍㼚㼓㼑㻘 㼏㼛㼙㼜㼍㼞㼑㼐 㼠㼛 㼠㼔㼑 㼍㼙㼛㼡㼚㼠㼟 㼠㼔㼍㼠 㼣㼛㼡㼘㼐 㼔㼍㼢㼑 㼎㼑㼑㼚 㼞㼑㼜㼛㼞㼠㼑㼐 㼣㼕㼠㼔 㼠㼔㼑 㼜㼞㼑㼢㼕㼛㼡㼟 㼙㼑㼠㼔㼛㼐㻘 㼟㼑㼓㼙㼑㼚㼠 㼕㼚㼏㼛㼙㼑 㼒㼛㼞 㼠㼔㼑㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑 㼀㼑㼟㼠 㻿㼥㼟㼠㼑㼙㼟㻘 㻼㼞㼛㼏㼑㼟㼟 㻒 㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟㻘 㻹㼑㼐㼕㼏㼍㼘㻙㼐㼕㼍㼓㼚㼛㼟㼠㼕㼏 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟㻘 㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟 㼍㼚㼐 㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟 㼕㼚㼏㼞㼑㼍㼟㼑㼐 㼎㼥 \㻝㻢㻡 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻝㻘㻥㻜㻡 㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘 \㻢㻡 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻣㻡㻜 㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘 \㻠㻣 㼙㼕㼘㼘㼕㼛㼚㻔㻐㻡㻠㻞㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘㻌\㻞㻜㻤㻌㼙㼕㼘㼘㼕㼛㼚㻌㻔㻐㻞㻘㻠㻜㻞㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻌㼍㼚㼐㻌\㻠㻥㻌㼙㼕㼘㼘㼕㼛㼚㻌㻔㻐㻡㻢㻡㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㼑㼟㼠㼕㼙㼍㼠㼑㼟㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼞㼑㼟㼕㼐㼡㼍㼘㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻵㼚 㼍㼏㼏㼛㼞㼐㼍㼚㼏㼑 㼣㼕㼠㼔 㼠㼔㼑 㼏㼔㼍㼚㼓㼑 㼕㼚 㼠㼔㼑 㼙㼑㼠㼔㼛㼐 㼛㼒 㼐㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚 㼒㼛㼞 㼠㼍㼚㼓㼕㼎㼘㼑 㼒㼕㼤㼑㼐 㼍㼟㼟㼑㼠㼟㻘 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥 㼍㼚㼐 㼠㼔㼞㼑㼑 㼐㼛㼙㼑㼟㼠㼕㼏 㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐 㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㼞㼑㼢㼕㼟㼑㼐㻌㼠㼔㼑㻌㼞㼑㼟㼕㼐㼡㼍㼘㻌㼢㼍㼘㼡㼑㻌㼛㼒㻌㼠㼍㼚㼓㼕㼎㼘㼑㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻚㻌㻭㼟 㼍 㼞㼑㼟㼡㼘㼠 㼛㼒 㼠㼔㼕㼟 㼏㼔㼍㼚㼓㼑㻘 㼏㼛㼙㼜㼍㼞㼑㼐 㼠㼛 㼠㼔㼑 㼍㼙㼛㼡㼚㼠㼟 㼠㼔㼍㼠 㼣㼛㼡㼘㼐 㼔㼍㼢㼑 㼎㼑㼑㼚 㼞㼑㼜㼛㼞㼠㼑㼐 㼣㼕㼠㼔 㼠㼔㼑 㼜㼞㼑㼢㼕㼛㼡㼟 㼙㼑㼠㼔㼛㼐㻘 㼟㼑㼓㼙㼑㼚㼠 㼕㼚㼏㼛㼙㼑 㼒㼛㼞 㼠㼔㼑㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑 㼀㼑㼟㼠 㻿㼥㼟㼠㼑㼙㼟㻘 㻼㼞㼛㼏㼑㼟㼟 㻒 㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟㻘 㻹㼑㼐㼕㼏㼍㼘㻙㼐㼕㼍㼓㼚㼛㼟㼠㼕㼏 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟㻘 㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟 㼍㼚㼐 㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏 㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟 㻒 㻿㼥㼟㼠㼑㼙㼟 㼐㼑㼏㼞㼑㼍㼟㼑㼐 㼎㼥 \㻣㻝 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻤㻜 㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘 \㻞㻤 㼙㼕㼘㼘㼕㼛㼚 㻔㻐㻟㻞㻟 㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘\㻞㻜㻌㼙㼕㼘㼘㼕㼛㼚㻌㻔㻐㻞㻟㻝㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘㻌\㻥㻞㻌㼙㼕㼘㼘㼕㼛㼚㻌㻔㻐㻝㻘㻜㻢㻞㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻌㼍㼚㼐㻌\㻞㻝㻌㼙㼕㼘㼘㼕㼛㼚㻌㻔㻐㻞㻠㻞㻌㼠㼔㼛㼡㼟㼍㼚㼐㻕㻘㻌㼞㼑㼟㼜㼑㼏㼠㼕㼢㼑㼘㼥㻚71㻨㻾㼑㼘㼍㼠㼑㼐㻌㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻪㻝㻚㻌㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼓㼑㼛㼓㼞㼍㼜㼔㼕㼏㻌㼍㼞㼑㼍㼟㻔㻝㻕㻌㻺㼑㼠㻌㼟㼍㼘㼑㼟㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻶㼍㼜㼍㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼁㼚㼕㼠㼑㼐㻌㻿㼠㼍㼠㼑㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻱㼡㼞㼛㼜㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻭㼟㼕㼍㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼕㼘㼘㼛㼚㻌㼛㼒㻌㼥㼑㼚
㻞㻜㻝㻝
㻞㻜㻝㻞
㼰㻠㻤㻘㻥㻤㻢
㼰㻠㻡㻘㻣㻣㻣
㻝㻠㻘㻝㻣㻜
㻝㻠㻘㻥㻤㻤
㻞㻣㻘㻠㻞㻝
㻟㻞㻘㻞㻜㻣
㻞㻢㻘㻞㻣㻜
㻞㻞㻘㻞㻥㻟㻠㻘㻥㻤㻜㻟㻘㻥㻢㻥㼰㻝㻝㻣㻘㻢㻜㻥
㼰㻝㻞㻟㻘㻠㻡㻢

㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻞㻜㻝㻞㻐㻡㻞㻤㻘㻣㻞㻠
㻝㻢㻟㻘㻢㻢㻟
㻟㻝㻢㻘㻣㻝㻞
㻟㻜㻟㻘㻠㻝㻤
㻠㻡㻘㻤㻠㻝
㻐㻝㻘㻟㻡㻤㻘㻟㻤㻡㻺㼛㼠㼑㻚㻌㻺㼑㼠㻌㼟㼍㼘㼑㼟㻌㼍㼞㼑㻌㼏㼍㼠㼑㼓㼛㼞㼕㼦㼑㼐㻌㼎㼥㻌㼏㼛㼡㼚㼠㼞㼥㻌㼛㼞㻌㼓㼑㼛㼓㼞㼍㼜㼔㼕㼏㻌㼍㼞㼑㼍㻌㼎㼍㼟㼑㼐㻌㼛㼚㻌㼠㼔㼑㻌㼘㼛㼏㼍㼠㼕㼛㼚㻌㼛㼒㻌㼠㼔㼑㻌㼏㼡㼟㼠㼛㼙㼑㼞㻚㻔㻞㻕㻌㻼㼞㼛㼜㼑㼞㼠㼥㻘㻌㼜㼘㼍㼚㼠㻌㼍㼚㼐㻌㼑㼝㼡㼕㼜㼙㼑㼚㼠㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻶㼍㼜㼍㼚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻲㼞㼍㼚㼏㼑㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼕㼘㼘㼛㼚㻌㼛㼒㻌㼥㼑㼚
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㻢㻘㻥㻜㻠
㼰㻞㻤㻘㻝㻣㻥
㼰㻞㻞㻘㻥㻞㻠

㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻞㻜㻝㻞㻐㻝㻤㻜㻘㻣㻠㻢
㻢㻠㻘㻥㻡㻣
㻣㻥㻘㻣㻠㻝
㻐㻟㻞㻡㻘㻠㻢㻣

㻞㻚㻌㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼙㼍㼖㼛㼞㻌㼏㼡㼟㼠㼛㼙㼑㼞㼟㼀㼔㼑㼞㼑㻌㼕㼟㻌㼚㼛㻌㼏㼡㼟㼠㼛㼙㼑㼞㻌㼣㼔㼛㻌㼞㼑㼜㼞㼑㼟㼑㼚㼠㼟㻌㼙㼛㼞㼑㻌㼠㼔㼍㼚㻌㻝㻜㻑㻌㼛㼒㻌㼠㼔㼑㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼍㼘㼑㼟㻚㻟㻚㻌㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼘㼛㼟㼟㻌㼛㼚㻌㼕㼙㼜㼍㼕㼞㼙㼑㼚㼠㻌㼛㼒㻌㼒㼕㼤㼑㼐㻌㼍㼟㼟㼑㼠㼟㻌㼎㼥㻌㼞㼑㼜㼛㼞㼠㼕㼚㼓㻌㼟㼑㼓㼙㼑㼚㼠㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㼀㼑㼟㼠㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻼㼞㼛㼏㼑㼟㼟㻌㻒㻌㻱㼚㼢㼕㼞㼛㼚㼙㼑㼚㼠㼍㼘㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻻㼠㼔㼑㼞㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼕㼘㼘㼛㼚㻌㼛㼒㻌㼥㼑㼚
㻞㻜㻝㻝
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㼰㻥㻤

㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟
㻞㻜㻝㻞
㻐㻞㻠㻞
㻙
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㻙
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㻥㻞
㻐㻝㻘㻡㻡㻥

㻺㼛㼠㼑㻚㻌㼀㼔㼑㻌㻎㻻㼠㼔㼑㼞㼟㻎㻌㼍㼙㼛㼡㼚㼠㻌㼕㼟㻌㼠㼔㼍㼠㻌㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻓㼟㻌㼕㼐㼘㼑㻌㼍㼟㼟㼑㼠㼟㻚㻠㻚㻌㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼠㼔㼑㻌㼍㼙㼛㼞㼠㼕㼦㼑㼐㻌㼍㼙㼛㼡㼚㼠㻌㼍㼚㼐㻌㼡㼚㼍㼙㼛㼞㼠㼕㼦㼑㼐㻌㼎㼍㼘㼍㼚㼏㼑㻌㼛㼒㻌㼓㼛㼛㼐㼣㼕㼘㼘㼀㼔㼛㼡㼟㼍㼚㼐㼟㻌㼛㼒㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㼀㼑㼟㼠㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼑㼐㼕㼏㼍㼘㻙㻰㼕㼍㼓㼚㼛㼟㼠㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼑㼙㼕㼏㼛㼚㼐㼡㼏㼠㼛㼞㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻿㼏㼕㼑㼚㼠㼕㼒㼕㼏㻌㻵㼚㼟㼠㼞㼡㼙㼑㼚㼠㼟㻌㻒㻌㻿㼥㼟㼠㼑㼙㼟㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㼀㼛㼠㼍㼘㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻚㻹㼕㼘㼘㼛㼚㻌㼛㼒㻌㼥㼑㼚
㻞㻜㻝㻝
㻞㻜㻝㻞
㼰㻠㻢
㻙
㻙
㻜
㻙
㻝㻢㻠
㻝㻡㻠
㻝㻡㻠
㼰㻞㻜㻝
㼰㻟㻝㻥

㼁㻚㻿㻚㻌㼐㼛㼘㼘㼍㼞㼟㻞㻜㻝㻞㻙㻙㻐㻝㻘㻤㻥㻠
㻝㻘㻣㻣㻤㻐㻟㻘㻢㻤㻠

㻺㼛㼠㼑㻚㻌㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼞㼑㼓㼍㼞㼐㼕㼚㼓㻌㼠㼔㼑㻌㻎㻭㼙㼛㼞㼠㼕㼦㼑㼐㻌㼍㼙㼛㼡㼚㼠㻌㼛㼒㻌㼓㼛㼛㼐㼣㼕㼘㼘㻎㻌㼕㼟㻌㼛㼙㼕㼠㼠㼑㼐㻌㻌㼍㼟㻌㼟㼕㼙㼕㼘㼍㼞㻌㼕㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻌㼕㼟㻌㼐㼕㼟㼏㼘㼛㼟㼑㼐㻌㼕㼚㻌㻎㻿㼑㼓㼙㼑㼚㼠㻌㻵㼚㼒㼛㼞㼙㼍㼠㼕㼛㼚㻚㻎

Annual Report 2012 | 72

FINANCIAL DATAHORIBA, Ltd. and Consolidated Subsidiaries | Notes to Consolidated Financial Statements㻞㻞㻚㻌㻾㼑㼘㼍㼠㼑㼐㻌㼜㼍㼞㼠㼥㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻔㻝㻕㻌㻾㼑㼘㼍㼠㼑㼐㻌㼜㼍㼞㼠㼥㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻌㼣㼕㼠㼔㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㻰㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻌㼙㼍㼖㼛㼞㻌㼟㼔㼍㼞㼑㼔㼛㼘㼐㼑㼞㼟㻌㻔㼕㼚㼐㼕㼢㼕㼐㼡㼍㼘㼟㻌㼛㼚㼘㼥㻕㻌㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼀㼔㼑㻌㼥㼑㼍㼞㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻯㼍㼠㼑㼓㼛㼞㼥
㻺㼍㼙㼑㻭㼐㼐㼞㼑㼟㼟
㻭㼙㼛㼡㼚㼠㻌㼛㼒㻌㼏㼍㼜㼕㼠㼍㼘㻌㼟㼠㼛㼏㼗㻔㼙㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻕㼀㼔㼑㻌㼥㼑㼍㼞㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㻰㼕㼞㼑㼏㼠㼛㼞㻓㼟㻌㼏㼘㼛㼟㼑㼒㼍㼙㼕㼘㼥㻌㼙㼑㼙㼎㼑㼞㻹㼍㼟㼍㼛㻌㻴㼛㼞㼕㼎㼍㻙㻙㻯㼍㼠㼑㼓㼛㼞㼥
㻺㼍㼙㼑㻭㼐㼐㼞㼑㼟㼟
㻭㼙㼛㼡㼚㼠㻌㼛㼒㻌㼏㼍㼜㼕㼠㼍㼘㻌㼟㼠㼛㼏㼗㻔㼙㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻕㻰㼕㼞㼑㼏㼠㼛㼞㻓㼟㻌㼏㼘㼛㼟㼑㼒㼍㼙㼕㼘㼥㻌㼙㼑㼙㼎㼑㼞㻹㼍㼟㼍㼛㻌㻴㼛㼞㼕㼎㼍㻙㻙㻮㼡㼟㼕㼚㼑㼟㼟㻌㼛㼞㻌㼛㼏㼏㼡㼜㼍㼠㼕㼛㼚㻭㼐㼢㼕㼟㼛㼞㻌

㻮㼡㼟㼕㼚㼑㼟㼟㻌㼛㼞㻌㼛㼏㼏㼡㼜㼍㼠㼕㼛㼚㻭㼐㼢㼕㼟㼛㼞㻌

㻼㼑㼞㼏㼑㼚㼠㼍㼓㼑㻌㼛㼒㻌㼢㼛㼠㼕㼚㼓㻌㼞㼕㼓㼔㼠㼟㻌㼔㼑㼘㼐㻾㼑㼘㼍㼠㼕㼛㼚㼟㼔㼕㼜㻟㻚㻜㻑㻌㻔㼐㼕㼞㼑㼏㼠㻕㻯㼛㼚㼟㼡㼘㼠㼕㼚㼓㻌㼏㼛㼚㼠㼞㼍㼏㼠㻼㼑㼞㼏㼑㼚㼠㼍㼓㼑㻌㼛㼒㻌㼢㼛㼠㼕㼚㼓㻌㼞㼕㼓㼔㼠㼟㻌㼔㼑㼘㼐㻾㼑㼘㼍㼠㼕㼛㼚㼟㼔㼕㼜㻟㻚㻜㻑㻌㻔㼐㼕㼞㼑㼏㼠㻕㻯㼛㼚㼟㼡㼘㼠㼕㼚㼓㻌㼏㼛㼚㼠㼞㼍㼏㼠㼀㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼀㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼍㼙㼛㼡㼚㼠

㻯㼛㼚㼟㼡㼘㼠㼕㼚㼓㼒㼑㼑㻔㻺㼛㼠㼑㻌㻞㻕

㼀㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼀㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼍㼙㼛㼡㼚㼠

㻯㼛㼚㼟㼡㼘㼠㼕㼚㼓㼒㼑㼑㻔㻺㼛㼠㼑㻌㻞㻕

\㻞㻠㻌㼙㼕㼘㼘㼕㼛㼚\㻞㻠㻌㼙㼕㼘㼘㼕㼛㼚㻭㼏㼏㼛㼡㼚㼠

㻮㼍㼘㼍㼚㼏㼑㻌㼍㼠㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘
㻞㻜㻝㻝

㻙

㻙

㻭㼏㼏㼛㼡㼚㼠

㻮㼍㼘㼍㼚㼏㼑㻌㼍㼠㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘
㻞㻜㻝㻞

㻙

㻙

㻺㼛㼠㼑㻌㻝㻚
㻺㼛㼠㼑㻌㻞㻚

㻔㻐㻞㻣㻣㼠㼔㼛㼡㼟㼍㼚㼐㻕㼀㼔㼑㻌㼍㼎㼛㼢㼑㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㻌㼍㼙㼛㼡㼚㼠㼟㻌㼐㼛㻌㼚㼛㼠㻌㼕㼚㼏㼘㼡㼐㼑㻌㼏㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚㻌㼠㼍㼤㼑㼟㻘㻌㼣㼔㼕㼘㼑㻌㼠㼔㼑㻌㼎㼍㼘㼍㼚㼏㼑㻌㼍㼠㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻌㼍㼚㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻞㼕㼚㼏㼘㼡㼐㼑㼟㻌㼏㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚㻌㼠㼍㼤㼑㼟㻚㼀㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㼟㻌㼍㼚㼐㻌㼜㼛㼘㼕㼏㼥㻌㼛㼚㻌㼐㼑㼠㼑㼞㼙㼕㼚㼕㼚㼓㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㻌㼏㼛㼚㼐㼕㼠㼕㼛㼚㼟㼀㼔㼑 㼏㼛㼚㼟㼡㼘㼠㼕㼚㼓 㼒㼑㼑 㼒㼛㼞 㻹㼍㼟㼍㼛 㻴㼛㼞㼕㼎㼍 㼕㼟 㼏㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚 㼒㼛㼞 㼙㼍㼚㼍㼓㼑㼙㼑㼚㼠 㼏㼛㼚㼟㼡㼘㼠㼕㼚㼓 㼟㼑㼞㼢㼕㼏㼑㼟 㼠㼛 㼠㼔㼑 㻯㼛㼙㼜㼍㼚㼥㻘㼍㼏㼠㼕㼢㼕㼠㼕㼑㼟 㼛㼒 㼟㼛㼏㼕㼑㼠㼥㻙㼍㼏㼍㼐㼑㼙㼕㼍 㼏㼛㼘㼘㼍㼎㼛㼞㼍㼠㼕㼛㼚 㼒㼛㼞 㼕㼚㼚㼛㼢㼍㼠㼕㼛㼚 㼍㼚㼐 㼜㼍㼞㼠㼕㼏㼕㼜㼍㼠㼕㼛㼚 㼕㼚 㼑㼏㼛㼚㼛㼙㼕㼏 㼛㼞㼓㼍㼚㼕㼦㼍㼠㼕㼛㼚㼟㻚 㼀㼔㼑㼜㼍㼥㼙㼑㼚㼠㻌㼣㼍㼟㻌㼐㼑㼠㼑㼞㼙㼕㼚㼑㼐㻌㼛㼚㻌㼍㻌㻌㼚㼑㼓㼛㼠㼕㼍㼠㼑㼐㻌㼎㼍㼟㼕㼟㻚㻔㻞㻕㻌㻾㼑㼘㼍㼠㼑㼐㻌㼜㼍㼞㼠㼥㻌㼠㼞㼍㼚㼟㼍㼏㼠㼕㼛㼚㼟㻌㼣㼕㼠㼔㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼟㼡㼎㼟㼕㼐㼕㼍㼞㼕㼑㼟㻌㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㻌㼠㼔㼍㼠㻌㼟㼡㼎㼙㼕㼠㼠㼑㼐㻌㼏㼛㼚㼟㼛㼘㼕㼐㼍㼠㼑㼐㻌㼒㼕㼚㼍㼚㼏㼕㼍㼘㻌㼟㼠㼍㼠㼑㼙㼑㼚㼠㼟㻰㼕㼞㼑㼏㼠㼛㼞㼟㻌㼍㼚㼐㻌㼙㼍㼖㼛㼞㻌㼟㼔㼍㼞㼑㼔㼛㼘㼐㼑㼞㼟㻌㻔㼕㼚㼐㼕㼢㼕㼐㼡㼍㼘㼟㻌㼛㼚㼘㼥㻕㻌㼛㼒㻌㼠㼔㼑㻌㻯㼛㼙㼜㼍㼚㼥㼀㼔㼑㻌㼥㼑㼍㼞㻌㼑㼚㼐㼑㼐㻌㻰㼑㼏㼑㼙㼎㼑㼞㻌㻟㻝㻘㻌㻞㻜㻝㻝㻯㼍㼠㼑㼓㼛㼞㼥
㻺㼍㼙㼑㻭㼐㼐㼞㼑㼟㼟
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㻯㼍㼠㼑㼓㼛㼞㼥

Independent Auditors’ Report

Annual Report 2012 | 74

CORPORATE PHILOSOPHY| Business Operations | We, at the HORIBA, apply our most advanced analyticaltechnologies to provide highly original analytical and measuring products andequipment in such fields as engine emissions, scientific analysis, industrial andprocess control, environment monitoring, semi-conductor process control,
medical and health-care, and biotechnology, thereby contributing to the progressof science and technology, improvement in the quality, development and benefitof human health. We are engaging in the new businesses for derivative andperipheral products aim to develop scientific technology and improve the life of thecommunity, while at the same time minimizing the impact on the environment.
We strictly abide by all environmental protection laws and regulations in ourbusiness activities. In addition, all HORIBA Group companies are required toattain the highest levels of quality for establishing, developing, and maintaining
environmental systems, including implementing internal control standards thatminimize the impact that our business activities have on the environment.
We strive to deliver higher value-added products and services in the shortest
possible time to customers all over the world, combining the functions andspecialties of development, production, sales, and services from globally locatedpoints throughout the world. Furthermore, we aim to be the leader in the global

HORIBA’s company motto“Joy and Fun”

market in the fields and product segments in which we operate, to meet all
customers’ needs consistently, and to effectively maximize our limited resources
through a policy of selective investment.
| Customer Responsiveness | We maintain a philosophy of pursuing technology
to the ultimate degree in both the fundamental and applied technology fields,

Originates from the belief that if we takeinterest and pride in the work that occupies
most of the active time in our lives, in theplace where we spend the large part of eachday, then as a result our satisfaction with life
will increase, and we will be able to enjoy ourlives even more. Taking interest and pride in
our work leads us to “Joy and Fun.”supplying products that continuously satisfy customers’ requirements. We arecommitted to offering top-quality, highly reliable products and services with aconsistent level of excellence throughout the world. We are obliged to observe
the highest standards for establishing, developing, and maintaining quality control
systems. To provide products and services to customers in the fastest delivery timepossible, we have adopted the slogan “Ultra-Quick Supplier” for all our activities.
This slogan encompasses not only production lead times but also development,
marketing and sales, service, and control functions.
| Responsibility to Shareholders and Investors | Our basic policy is tocalculate annual dividends on an allocated rate of net income. Important information
regarding management and business operations are fully disclosed on a regularbasis to shareholders and potential investors. A timely responsive management
control system should be maintained by HORIBA Group companies to ensurethat company objectives are met, profit generated and the information disclosed
represents the true performance of the company as well as its management.
| Employees | We are proud of the entrepreneurial spirit that led to the creationof HORIBA Group companies. Each employee is made aware of this heritage, andwe actively encourage ideas and innovations from individual employees. HORIBA
promotes an open and fair business environment that allows all employees
to achieve their individual goals and maximize their potential. To further each
employee’s personal and professional growth, we encourage thinking from a
global perspective and have established a global personnel development programand performance evaluation system. We value employees who challenge theirpersonal abilities and recognize their own accomplishments.

75

CORPORATE DATA

Corporate Data

Corporate Information
Head Office2, Miyanohigashi-cho, Kisshoin, Minami-ku, Kyoto 601-8510, JapanFounded

October 17, 1945

Incorporated

January 26, 1953

Paid in Capital

12,011 million yen

As of December 31, 2012

Number of Employees

5,530(Consolidated)

As of December 31, 2012

Fiscal Closing Date

December 31, annually

Annual Meeting of Shareholders

Held in March

Transfer Agent

Sumitomo Mitsui Trust Bank, Limited

Independent Auditor

KPMG AZSA LLC

Stock Listings

Tokyo Stock Exchange, First Section
Osaka Securities Exchange, First Section
Securities Code: 6856

Major Shareholders

As of December 31, 2012

Name of Shareholders

Shares (Thousands)

Percentage (%)

Japan Trustee Service Bank, Ltd.

3,366

7.91

The Master Trust Bank of Japan, Ltd.

2,551

5.99

Taiyo Fund, L．
P．

2,169

5.09

National Mutual Insurance Federation of Agricultural Cooperatives

1,287

3.02

Masao Horiba

1,275

2.99

NOMURA BANK (LUXEMBOURG) S．
A．S/A NOMURA MULTI CURRENCY JAPAN STOCK LEADERS FUND

901

2.11

JP MORGAN CHASE BANK 385174

840

1.97

The Bank of Kyoto, Ltd.

828

1.94

Atsushi Horiba

809

1.90

HORIBA Raku-Raku Kai

808

1.90

Stock Price Trend

Foreign investors 2.62%
Securities companies 0.54%

Japanese companies 2.41%

Financial institutions 0.82%

Yen
6,000

Breakdown ofTypes of
Shareholders

5,000(6,835 in total)

Individual investors
93.61%

4,000

3,000

Japanese companies
8.01%

Individual investors
21.26%

2,000

Foreign investors
34.30%

1,000

0
2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Breakdown ofOwnership among
Shareholders(42,532,752
shares in total)

Securities companies 0.74%

Financial institutions
35.69%

Annual Report 2012 | 76

ANNUAL REPORT 2012

HORIBA, Ltd.
2, Miyanohigashi-cho, Kisshoin, Minami-ku,
Kyoto 601-8510, Japan
Phone: +81-75-313-8121 Fax: +81-75-312-7389

E-mail : ir-info@horiba.com

http://www.horiba.com© 2013 HORIBA, Ltd. All rights reserved.

ANNUAL REPORT 2012