We would like to begin a 2024 full-year Q&A session for institutional investors. We have the same presenters from the earnings briefing, Sawada, Yanagisawa, as well as Director and COO Fuminori Hirose, as well as Yusaku Kobayashi from the General Manager of Corporate Planning Office. These four will be answering questions, and we plan to end this session at 6:20. If you have a question, please raise your hand using the icon at the bottom of the screen. Once selected, please state your name and the company before asking your question. Thank you. David Gibson. David Gibson, please go ahead. Thanks very much. It's David Gibson from MST Financial. Just on the list, two questions. Can you clarify, are the active buyers actually growing? And also, what is the GMV? Is that also growing? And the second, you said you haven't included the list into your guidance as yet. Just wondering whether, when you do add it, are you anticipating it to be profitable or loss-making? Thank you. [Foreign language] [Foreign language] [Foreign language] Okay, thanks very much. [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] Hello, thank you for your presentation. I have three questions. The first question on the tariffs in the U.S., maybe SHEIN will not be sending many clothes to the U.S. anymore. Are you seeing any signs that might come to Japan? And if so, would that be a risk or how would you react if a lot of cheap Chinese brands come to the Japan market? [Foreign language] [Foreign language] Okay, thank you. Second question on list, it seems it's a referral model that charges maybe 12%, 15% commission. Are you considering to roll this model out in Japan? So will ZOZO offer this kind of AI agent service to brands that are not existing on the platform? Would you offer this to your current shops for driving traffic to their own, to the shop's own EC site? [Foreign language] [Foreign language] [Foreign language] Yes, that's right. [Foreign language] Okay, thank you. Final question. You mentioned M&A in the future. Do you have any sense of the budget you are considering? [Foreign language] [Foreign language] Okay, thank you very much. [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language]