Clavister will present their report for the second quarter of 2017 on Tuesday the 15th of august. We estimate a rise in net sales of 21% (driven by the acquisition of PhenixID – revenues from PhenixID were not included in the second quarter 2016). The reported numbers are of minor importance – we will focus on the development within the telecom segment (or Service Provider segment*) and in Japan (where the relationship with Canon IT Solutions is important) – Japan is a focus market that holds significant potential going forward. Comments about the organizational changes and cost optimization activities mentioned in the latest Operational Update are also of interest.