Business portfolio

Accelerating transformation of the business model

  1. The surrounding environment
  1. Business portfolio strategy
  1. Seat Business
  1. Interior & Exterior Business
  1. Unit Components Business
  1. Initiatives for new business

TOYOTA BOSHOKU REPORT 2023

56

The surrounding environment

Finding new growth opportunities by identifying changes in demand and customer needs

Awareness of the environment

The world's growing and aging population, the concentration of population in urban areas, and traffic accidents have become major social issues. In addition, to address climate change and other environmental issues, there is a need to curb global warming, achieve resource recycling and symbiosis with nature, among other goals. As well as geopolitical risks, the environment surrounding the Toyota Boshoku group is becoming more complex than ever, including diversifying values. Below, we set out the Toyota Boshoku group's perception of the business environment based on a PEST analysis of political, economic, social, and technological factors.

PEST Analysis

Politics

Economy

• Unstable global situation, rising geopolitical risks

• Rise of seven major emerging countries,1 growth

• Carbon neutrality moving into the

slowdown in developed countries

-Shifting balance of power

implementation phase

• Shift to a circular economy based on the three

- Global response to climate change risk

- Vacillating trends in internal combustion engine (ICE)

principles of elimination, circulation, and

vehicle regulations

regeneration

- Promotion of renewable energy and realization of a

• Emerging scarcity of water, food, and resources,

hydrogen society

and the strengthening of economic security

• Increasing social expectations for biodiversity

• Spread of ESG investment, which is gaining

restoration and advocacy of "nature positive"

importance on a global scale

• Human rights and environmental due diligence

1 China, India, Russia, Brazil, Indonesia, Mexico, Türkiye

throughout the supply chain, becoming

mandatory globally

• Response to diversity and inclusion by

acknowledging, accepting, and optimizing

diversity

Society

Technology

• World population tops 8 billion

• Diffusion of AI, IoT, 5G, and other technologies of

- Low birthrates and aging populations in developed

the future, and the digital transformation this

countries, and population explosion in emerging

requires

countries

• Society 5.0, a vision of the future society that will

- Increase in traffic accidents along with aging society

be opened up by the advanced fusion of the

- Healthy life expectancy is becoming important in

cyber and physical spaces

relation to tightening healthcare expenditure

• Post-COVID innovations that set the standard for

• Social issues due to concentration of population

contactless and autonomation

in urban areas and overcrowding (infectious

• Real-time reproduction of the real world in

disease risk, increased traffic congestion, air

pollution)

cyber space.

• Growth of Generation Z, a major new consumer

Growing utilization of digital twin

segment, as influential buyers

• The push for "ethical" consumer behavior and

the ripples of the sharing economy

• Promotion of Smart Cities, a future society that

utilizes technology to realize a life of well-being

57 TOYOTA BOSHOKU REPORT 2023

Management resources and

Supplementary

Messages

Value creation story

strengthening them

Business portfolio

Governance

materials & data

Accelerating transformation of the business model

Response based on environmental awareness

The mobility sector is changing rapidly due to factors such as growing environmental awareness and the advance of CASE, MaaS, and digitization. Against this backdrop, we intend to respond to growth opportunities by meeting diversifying needs, and to flexibly address risks such as environmental concerns and entrants from other sectors by strengthening our technological and MONOZUKURI capabilities. To this end, we have established the future we want to achieve, and the value we want to provide. We have clarified the additional technologies that will be needed, and have created a technology roadmap for the future. To realize a comfortable, safe, and secure automobile interior space, we will steadily promote R&D in accordance with this roadmap. (p. 31)

Impact on the Toyota Boshoku group from trends in the mobility sector

Trends in the Mobility Sector

Impact on the Toyota Boshoku group ( = opportunity / = risk)

Decarbonization and the transition to

Growing public interest in carbon neutrality

Tightening of material regulations in anticipation of a recycling-oriented society

a circular economy

Cost increases due to compliance with environmental regulations

Contributing to a society with zero traffic casualties

Market changes and new business opportunities

Creating new businesses that solve social issues

- Supporting preventive care and outdoor life for the elderly

brought about by the evolution of mobility

Appearance of emerging OEMs and servicers

Changes in and reorganization of the competitive landscape among OEMs

Entrants from other sectors with the emergence of SDV2

Paradigm shift in values and consumer behavior

Creating new value that matches diversifying needs

Trend of non-ownership of automobiles

2 Software Defined Vehicle. Software-driven development of vehicles and vehicle manufacturing

Promoting development based on the technology roadmap

Vision

Looking into the future, we will create tomorrow's automobile interior space that will inspire our customers the world over

Materiality

1 As an Interior Space Creator we

2

Using our established technical

will contribute to people's quality

capability, we will contribute to

of life, creating comfort, safety,

realise a society with no traffic

and reassurance through

casualties through providing

innovation

products that assure safety

Accomplish

a Space

DO MORE

03. A space that enriches

the lives of our customers

(turning "0" into "plus")

Expanding possibilities

01. A space where customers

FEEL GOOD

02. Space where customers

pleasant atmosphere

HAVE FUN

can relax their minds and

can enjoy mobility

bodies in a stress-free and

(mobile space)

(turning "minus" into "0")

Enhancing well-being

Driving enjoyment

To

04. Technology

05. Technology

accomplish

to reduce

SAFETY

ENVIRONMENT

that can

this Space

and deaths

environmental

traffic injuries

minimize

Technology

impact

3 Together with our business partners, we will realize MONOZUKURI innovations that minimize environmental stress

(p. 23)

10 values

1

Always convenient and

FEEL

comfortable

GOOD

2

Healthy mind and physical

HAVE

Get more excited

3 about moving

Roadmap

FUN

5

Freedom of movement

4

Space and experience

according to your preference

DO

for all

Technology

Expanding possibilities for

MORE

6 people and society

7

To a more livable city

SAFETY

8

Making mobility safer

ENVIRON-

9

Curbing climate change

MENT

Realization of

10 a recycling-based society

TOYOTA BOSHOKU REPORT 2023

58

Business portfolio strategy

Implementing a business portfolio strategy aimed at our desired status for 2030

The Toyota Boshoku group aims to be a company that creates an environmentally sound society in which people have smiles on their faces and lead enriched lives.

With the goal of creating new value as an Interior Space Creator, which is our desired status for 2030, we aim to achieve a ratio of 20% of sales to companies outside of Toyota Motor Corporation by strengthening our competitive advantage and offering multi-dimensional value. In addition, our aim is to increase the percentage of revenue generated by new business, by promoting operations that are compatible with CASE and MaaS, and by creating new value.

Revenue target

Ratio of sales by business

Ratio of sales by customer

Non-Toyota sales

20%

Toyota sales

80%

New business

5%

Core business

95%

Promoting activities to win orders from non-Toyota customers

As an initiative to strengthen our sales capability, we will implement sales expansion activities moving toward 2030.

To date, we have been promoting activities to win orders mainly from automakers that have an alliance relationship with Toyota Motor Corporation (strategic OEMs), but we are aiming to further expand our sales channels as we move toward 2030.

Using as the basis the sales channels acquired through the transfer of commercial rights resulting from the reorganization of the seat frame mechanism components business, we will promote aggressive activities to win orders from customers other than strategic OEMs. (p. 29)

New business model through new businesses

The Toyota Boshoku group is committed to the development of cutting-edge technologies in accordance with the Principles of Toyoda, namely: "Always be studious and creative, striving to stay ahead of the times."

Pursuing "safety," "environment," and "comfort" as part of our materiality, we will create new value as an Interior Space Creator and promote the creation of new businesses. Furthermore, by building a new business model, we aim to achieve sustainable growth and are striving to be a company that continues to be needed by society. (p. 67)

59 TOYOTA BOSHOKU REPORT 2023

Management resources and

Supplementary

Messages

Value creation story

strengthening them

Business portfolio

Governance

materials & data

Accelerating transformation of the business model

Core business performance (FY2023)

Revenue (100 million yen) Initiatives in fiscal 2023

Aiming to become "Home" as a seat system supplier,

11,922

secure solid profitability and achieve sustainable growth

Seat

Business

10,511

9,322

2021 2022 2023 (FY)

Developing seats in a timely manner in response to environmental changes

  • Develop dedicated BEV seats
  • Develop materials and products aimed at achieving carbon neutrality and a circular economy
  • Develop safe and comfortable seats compatible with autonomous driving

Developing attractive products by taking charge of the entire process from planning to launch

  • Develop competitive seat frames
  • Promote electrification of rear seat operation
  • Realize optimal global production (local production for local consumption and utilization of local resources)

Establishing a highly efficient production system

  • Introduce model lines incorporating autonomation to strengthen production infrastructure
  • Consolidate production processes for seat frame mechanism components through the transfer of business from Aisin Corporation and Aisin Shiroki Corporation
  • Develop methods that can respond flexibly to regional characteristics and volume fluctuations

Revenue (100 million yen)

2,996

2,505 2,727

Interior & Exterior

Business

2021 2022 2023 (FY)

Initiatives in fiscal 2023

Implement initiatives toward becoming an interior system supplier that can surpass competitors

Expanding our technological domain

  • Maintain activities to secure instrument panel R&D capabilities
  • Implement planning and development of noise and vibration (NV), and heat shielding for new vehicle models in collaboration with OEMs

Expanding regions served as a system supplier and incorporating new components

  • Expand development orders for projects outside Japan
  • Maintain activities to win new component orders and partially revise strategy

Conducting activities to strengthen global competitiveness

  • Implement thorough benchmarking of competitors to promote stronger MONOZUKURI capability

Expanding sales to strategic OEMs

  • Promote activities to win ceiling business orders in the North America region
  • Promote activities to win door trim business orders

Revenue (100 million yen)

Initiatives in fiscal 2023

Promote strengthening of competitiveness to deepen and expand sales of filter & power train (FPT) products and electric products business

FPT products business

Unit Components

Business

893

1,121

975

Filter products

•Develop high-quality filters at an affordable price that

match the market and customer needs

•Expand sales channels of own-brand filters in the

aftermarket

Intake system

•Strengthen the competitiveness of intake system

products

components by optimizing global material procurement

Electric products business

Motor cores

•Mass produce motor cores for Toyota Motor Corporation

Fuel cell-related

•Develop separators and ion exchangers for

products

next-generation fuel cell stacks

•Develop compact fuel cell stacks for the future

2021 2022 2023 (FY)

hydrogen society

Lithium ion batteries

•Win orders of prototypes for race cars

(high-rate batteries)

From fiscal 2022, New Business Promotion is included in the Seat Business segment due to a review of management categories. Revenue for fiscal 2021 is also presented in the reclassified categories

TOYOTA BOSHOKU REPORT 2023

60

Business portfolio strategy

Seat Business

Aiming to become "Home" as a seat system supplier, secure solid profitability and achieve sustainable growth

In order to become a seat system supplier that is trusted and chosen by a large number of customers, we need to respond with urgency to the rapid changes in the environment, including electrification, carbon neutrality, and autonomous driving. The Toyota Boshoku group will develop appealing, high-quality products that address market trends and a diversity of requirements by acquiring our own unique R&D capabilities in areas such as seat-related controls, safety restraints, and infotainment.1 We aim to achieve sustainable growth by making proposals to a large number of customers and having these products adopted by them.

1 The generic name for systems that realize the provision of both information and entertainment

Hiroki Tsunoda

Operating Officer

Chief Technology Officer

Segment Chief,

Seat Business Segment

Opportunity

Threat

SWOT Analysis

Strength

Weakness

S +

W −

SO strategy ++ (maximize strengths)

WO strategy -+ (overcome weaknesses)

Collaboration with Toyota Group companies

Few customers other than Toyota Motor Corporation

× Changing user needs due to social and environmental issues and

× Changing user needs due to social and environmental issues and

changing market trends (CASE, MaaS, BEV, carbon neutrality)

changing market trends (CASE, MaaS, BEV, carbon neutrality)

Realize competitive products and development of methods

Develop products that can address changes in the environment

O

in response to social issues and environmental changes,

and market, make proposals to OEMs other than Toyota Motor

in cooperation with group companies

Corporation to meet their needs, and promote activities to

+

Strengthening the competitiveness of the transferred seat frame

win orders

mechanism components business

  • Expansion of sales channels through the transfer of commercial rights

Expand sales of seat assemblies and frame mechanism components to customers other than Toyota Motor Corporation by maximizing the sales channels gained through the acquisition of business

ST strategy +- (reduce the impact of threats)

WT strategy -- (minimize the impact of negatives)

Global integrated system from planning to production

Lack of system control and electronic component R&D capabilities

× Expansion of threats to Toyota business by competitors

× Intensified competition with competitors expanding into new

Serve as the "Home" of seats by applying the knowledge

fields, etc.

gained through sales expansion to development and proposals,

Expand our technology fields by identifying technologies

T

thereby steadily securing Toyota business

to be acquired for the future through comprehensive

Possession of development and production sites that can respond globally

market research

−

× Changes in the competitive landscape among OEMs associated with

autonomous driving and electrification

Strengthen activities to win orders for new OEM business

outside of Japan by leveraging our global development and

production systems

Strategy

Aiming to be the seat system supplier of choice for many customers, with world-leading advanced technology, high product competitiveness and a broad product lineup

Fiscal 2024 Action Plan

  • Develop dedicated BEV seats
  • Realize thermal management through development of seat air-conditioning systems
  • Develop new materials and new methods aimed at achieving carbon neutrality and a circular economy
  • Strengthen the sales system for customers other than Toyota Motor Corporation
  • Realize optimal global production planning
  • Optimize resources through reorganization of the frame mechanism components business

61 TOYOTA BOSHOKU REPORT 2023

Management resources and

Supplementary

Messages

Value creation story

strengthening them

Business portfolio

Governance

materials & data

Accelerating transformation of the business model

Product Development Case Study 01

Newly developed front seat frame adopted in new Toyota

Yaris Ativ in the Asia region

Toyota Boshoku's front seat frame developed for emerging markets has been adopted in the new Toyota Yaris Ativ in Thailand and Malaysia. This frame was developed to improve cost competitiveness and performance based on the concept of high-quality products at an affordable price. In addition, we have pursued a highly robust design, by optimizing the reinforced fabric structure of the seat covers to match the performance of the side airbags installed in the front seats. We are providing value-added products that meet emerging market needs through quality-focused design improvement activities.

Product Development Case Study 02

Seats used in new Suzuki Grand Vitara and new Toyota Urban

Cruiser Hyryder in India

The Grand Vitara and Urban Cruiser Hyryder are the result of a collaboration between Suzuki Motor Corporation and Toyota Motor Corporation, and feature Toyota Boshoku seats. By utilizing our wrinkle prediction simulation for the front seat, we were able to both achieve a complex molded design and a smooth launch, from development through to production. Furthermore, Suzuki's first seat ventilation system also utilizes our accumulated expertise. For the rear seats, we also developed a compact and lightweight frame with a seatback lock featuring a dual level angle adjustment function.

Product Development Case Study 03

Toyota's new Alphard and Vellfire models feature seats that provide a comfortable ride and convenient seating arrangements

The second-row seats feature the power long slide2 mechanism. This is a world-first system that allows 480 mm of forward/backward slide both by automatic and manual operation. It is possible to change the speed of the seat slides depending on whether there are occupants, allowing for improved convenience and a varied seating layout. As a relaxation function, the heated area of the seat is now larger, and is also included in ottomans and armrests for improved comfort. In this way, we have realized seats with a luxurious feel, combining both convenience and comfort.

2 Standard equipment for Executive Lounge

Product Development Case Study 04

Aircraft seat developed by Toyota Boshoku approved as an Offerable Product for the Boeing 737

In March 2023, an aircraft seat developed by Toyota Boshoku was approved by Boeing as an Offerable Product for the Boeing 737 MAX family. This follows Offerable Product seat certification for the Boeing 787 Dreamliner in 2021. When airlines place orders for new aircraft, they select seats and other products from among certified offerable products, and so gaining accreditation has increased our opportunity to win orders from a variety of airlines.

Going forward we aim to further expand aircraft seat business with providing valuable products and services to the customers.

TOYOTA BOSHOKU REPORT 2023

62

Business portfolio strategy

Interior & Exterior Business

Initiatives toward becoming an interior system supplier that can surpass competitors, while strengthening our competitiveness

Our goal is to become "Home" in the interior area by 2025. In fiscal 2023, the Toyota Boshoku group made progress as planned by acquiring design and performance planning capabilities and new component R&D capabilities. We are also expanding the scope (regions, development areas, and items) that we are entrusted with as an interior system supplier ("interior SS"), while also working to acquire new commercial distribution channels. In order to make the optimal interior proposals to customers, it is necessary to improve our component planning capabilities based on an understanding of vehicle performance. In fiscal 2024, while actively participating in performance planning areas such as noise & vibration (NV) and side impact, we will generate positive results from our activities to become a recognized presence as an interior SS. In addition, as electrification progresses, we will work together with Toyota Motor Corporation to propose modular structures for competitive interior components.

Seiji Teraji

Operating Officer

Segment Chief, Interior & Exterior

Business Segment

Opportunity

Threat

SWOT Analysis

Strength

Weakness

S +

W −

SO strategy ++ (maximize strengths)

WO strategy -+ (overcome weaknesses)

A structure and proposal capabilities for total interior coordination

Business responsiveness to new customers

× Advance of EVs

× Expansion of interior business to customers other than Toyota Motor

Proposals for automobile interior space planning to address

Corporation

O

changes in vehicle structure and proposals for new product

Strengthen sales to new OEMs

structures such as modules

Lack of knowledge on comfortable automobile interior space

+

× Expansion of interior business to customers other than Toyota Motor

(NV, heat shielding)

Corporation

× Advance of EVs

Expand the interior SS area including development and

Implement product planning for interiors to meet vehicle

incorporation of new components

performance requirements

Development of materials using plant-derived raw materials

× Response to carbon neutrality

Expand the application of kenaf to design components

ST strategy +- (reduce the impact of threats)

WT strategy -- (minimize the impact of negatives)

A structure and proposal capabilities for total interior coordination

Competitiveness of existing products

× Cost competitiveness of Chinese and other local manufacturers

× Cost competitiveness of Chinese and other local manufacturers

Propose appealing products while ensuring cost

Strengthen global cost competitiveness

competitiveness

Low recognition as an interior SS

T

× Intensifying competition due to the emergence of local manufacturers

−

Carry out sales activities to strategic OEMs utilizing total

proposal capabilities

Strategy

Become a true interior system supplier capable of providing everything for

the entire interior, from the concept stage

Fiscal 2024 Action Plan

  • Expand the scope of work entrusted to us as an interior SS
  • Develop new products such as modules compatible with electrification
  • Develop carbon neutral-compatible recycling technology and mono-material product structures
  • Strengthen competitiveness of core technologies

63 TOYOTA BOSHOKU REPORT 2023

Management resources and

Supplementary

Messages

Value creation story

strengthening them

Business portfolio

Governance

materials & data

Accelerating transformation of the business model

Product Development Case Study 01

Door trim using adhesive with reduced environmental impact adopted for new Toyota Prius

AA

A new environmentally sound adhesive that does not contain organic solvents has been adopted for the adhesive used to attach the surface material to the upper part of the door trim.

By unifying the material with the other door trim components, it has become possible to recycle the material of the upper part, which previously could not be recycled and was disposed of, thereby contributing to the circular economy.

Additionally, in the process of applying adhesive to the surface material, a new technique was developed in cooperation with the manufacturing division that allows only the required amount of adhesive to be

Structure of door trim upper part

Material

properties

A-A sectional view

Olefinic

Surface material

Olefinic

Adhesive

Olefinic

Base material

Materials

are unified

Process flow diagram

Composition of adhesive

Organic solvents

Adhesive

80%

components

100%

Adhesive

components 20%

Previous material

New material

applied. Two processes, drying and backside coating, have been reduced, and CO2 emissions from the manufacturing process have also decreased.

We have developed door trims and created processes that are worker-friendly while also contributing to the realization of carbon neutrality.

Spray application of solvent adhesive on base material

Previous

Adhesive

Vacuum

Trimming of

Adhesive

Rolling of

Six

applied to

Drying

applied to

molding

periphery

periphery

processes

aesthetic face

backside

Application of hot melt* to surface skin

New

Adhesive

Vacuum

Trimming of

Rolling of

Four

applied to

molding

periphery

periphery

processes

surface skin

  • Adhesive that bonds after heating and melting, and does not contain any organic solvents

Product Development Case Study 02

High impact-resistant plastic receives the Award for Science and Technology of the Commendation for Science and Technology by the Minister of Education, Culture, Sports, Science and Technology

Product Development Case Study 03

Rubber

PP

PA11

200nm

Salami structure of

high impact-resistant plastic

In May 2023, a high impact-resistant plastic jointly developed in 2013 by Toyota Boshoku and Toyota Central R&D Labs, Inc., received the 2023 Award for Science and Technology (Development Category) of the Commendation for Science and Technology by the Minister of Education, Culture, Sports, Science and Technology. This award recognizes groundbreaking R&D or an invention that contributes to the development and improvement of the social economy and people's lives, and is put into actual use.

An office table using kenaf base material for the tabletop

Commercialization of an office table using kenaf board in the tabletop

Since kenaf absorbs more CO2 during its growth phase compared with needle- and broad-leaved trees, we have been using kenaf board, a mixture of kenaf and polypropylene, for automotive interior materials to help reduce weight and achieve carbon neutrality. We are expanding the use of kenaf base material in order to apply the technology we have cultivated so far to areas other than automotive parts. Utilizing our expertise in kenaf board processing technology in the field of office furniture, in 2022, an office table that employs kenaf base material for the tabletop was commercialized through joint development with Itoki Corporation.

TOYOTA BOSHOKU REPORT 2023

64

Business portfolio strategy

Unit Components Business

Pursuing global business opportunities by leveraging proprietary technologies

In fiscal 2023, the Toyota Boshoku group raised its proprietary motor core technology to the production level and won new orders. In addition, we have enhanced our prototype high-rate batteries to the level of practical application and provided them to customers outside of Japan for testing. We have also begun using e-commerce for our filter and powertrain (FPT) products to expand sales in the global aftermarket. In fiscal 2024, we carried out a reorganization to consistently accelerate the process from product planning through to development and production, for both electric and FPT products. We will further expand our field of business outside of Japan by optimizing the technology we have amassed to date. We will support each individual within the division so that they have the confidence to identify and proactively engage new global business partners.

Ikutomo Sakai

Segment Chief, Unit Components

Business Segment

Deputy Segment Chief,

Research & Development Segment

Opportunity

Threat

SWOT Analysis

Strength

Weakness

S +

W −

SO strategy ++ (maximize strengths)

WO strategy -+ (overcome weaknesses)

New product development capability and competitive advantage by

Lack of recognition for production and development of electric products

utilizing our core technologies

× Public interest in SDGs and carbon neutrality

× Increased demand for electrified products

Development of carbon-neutral compliant electric products

Development of electric products utilizing core technologies

× Increased demand for electrified products

× Growing need for filters to provide a comfortable automobile

O

Product planning for carbon neutrality

interior space

+

Strengthen our filtration expertise and expand applications

Promotion of DX

× Discovery of new businesses associated with electrification

A global production and supply system

Break away from production-oriented approach by

× Increased demand for electrified products

strengthening marketing mechanisms and systems

Establishment of a global production and supply system

Support for high-mix production

for electric products

× Growing need for filters to provide a comfortable automobile

× Growing need for filters to provide a comfortable automobile

interior space

interior space

Establish a global supply system for aftermarket filters

Expand sales of filter products to regions with growing markets

ST strategy +- (reduce the impact of threats)

WT strategy -- (minimize the impact of negatives)

New product development capability and competitive advantage

Lack of recognition for production and development of

by utilizing our core technologies

electric products

× Soaring raw material costs

× Intensifying competition due to market entrants from other sectors

Strengthen product development and supply systems that

Increase recognition of our electric products

T

can respond to changes in the environment

Maximizing utilization of existing production facilities

Industrial-academic collaboration with group companies and universities

× Intensifying competition due to market entrants from other sectors

−

× Intensifying competition due to market entrants from other sectors

Increase development speed by leveraging DX

Industrial-academic collaboration for business model

transformation in response to environmental changes

A global production and supply system

  • Acceleration of electrification, including BEVs
    Determine the optimal regional solutions (ensure competitiveness of engine-related parts)

Strategy

Deepen and expand sales of electric and FPT products by leveraging core technologies developed in existing businesses

Fiscal 2024 Action Plan

  • Develop products with carbon neutrality in mind
  • Promote sales expansion of filter products and motor cores on a global basis
  • Develop compact fuel cell stacks for the future hydrogen society
  • Realize vibrant work style innovation and develop human resources
  • Further promote TQM activities

65 TOYOTA BOSHOKU REPORT 2023

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Toyota Boshoku Corporation published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 05:32:45 UTC.