Without further ado, let me begin the explanation. First, I would like to explain the consolidated financial results. Please refer to page 4 of the materials. For the first quarter, operating revenue was JPY 191 billion, business profit was JPY 27.1 billion, and net profit attributable to owners of parent was JPY 14.7 billion. Compared to the same period last year, revenue and each profit line figure decreased. However, progress toward achieving the full-year forecast is on the right track. Next, I will explain the performance by segment. Please look at page 5. The development area saw a decrease in revenue and profit due to a decrease in the number of housing units sold in the residential development business unit and a decrease in the property sale in the CRE business unit. The property brokerage and CRE business unit saw increased revenue due to an increase in brokerage transaction volume. The property and facility management business unit also saw increased revenue, as property and facility management and construction orders increased. However, as mentioned since the beginning of the fiscal year, profits of these two business units decreased due to increased expenses. Next, I will explain the performance forecast for the fiscal year ending March 2027. Please look at page 6. As mentioned earlier, revenue and profits decreased in the first quarter year-on-year. However, this is mainly due to the timing of recording housing sales and property sales on the full-year basis. Both housing sales and property sales are making steady progress in line with the full-year plan. So our full-year performance forecast remains unchanged from the one announced at the beginning of the fiscal year, and revenue and profits are expected to renew the record highs. Next, I will explain the performance by business unit. Please look at page 12. In the residential development business unit, revenue and profits decreased due to a decrease in the recorded number of housing units sold. For the full year, we anticipate an increase in the number of housing units sold, resulting in increased sales and profits. Please look at page 13. Revenue from housing sales in the first quarter was JPY 69.8 billion, and the gross profit margin was 26.9%. As sales continue to proceed smoothly, gross profit margin is expected to remain in the order of 26%, which was indicated in full-year forecast. Please turn to page 14. Our contract progress is 71.8% against our projected full-year sales of JPY 350 billion. While this percentage may seem a bit lower compared to the previous year, it is a result of a sales policy of proceeding steadily and without rushing, given market conditions, and we are making progress in line with our plan. Please turn to page 15. In the first quarter, we acquired JPY 39 billion worth of land for residential development. As shown in the table on the right, we have a land bank worth about JPY 2.5 trillion, which is equivalent to about seven years of projected volume. In this land bank, Tokyo 23 wards account for about 40% in terms of number of units and about 70% in terms of sales. For information on projects to be completed in the future, please refer to page 16 and 17. Now please turn to page 18. Regarding property sales as outlined in the business plan, we have positioned rental housing, senior housing, and hotels as growth areas, and we are expanding business in these areas. In the first quarter, we sold rental housing and senior housing, resulting in increased sales and gross profit compared to the same period last year. Next, please turn to page 19. In the first quarter, we acquired land worth JPY 12 billion for rental housing. For land bank worth about JPY 120 billion, projects are already completed, and projects under development combined, we have secured land bank worth about JPY 410 billion. Let's look at the CRE business unit. Please turn to page 21. In the CRE segment, both operating revenue and business profit decreased due to the decrease in property sales, et cetera. For the full year, we anticipate that property sales will be at the same level as last fiscal year. On the other hand, for leasing revenues, rent will decline as some projects. As a result, we anticipate operating revenue to increase and profit to go down. Please go to page 22. For property sale in this first quarter, the asset types of the properties sold are logistics, et cetera, recording operating revenue of JPY 20.2 billion and gross profit of JPY 5.1 billion. Please go to page 23. There was no land acquisition in the first quarter. This is progressing steadily in line with the full year plan, with approximately JPY 70 billion of acquisition projects expected to be constructed. As for the land bank, including projects under development, total invested amount is around JPY 1 trillion, which means we have secured five to six years' worth of business volume. Please go to page 24. The vacancy rate of leasing assets we hold as non-current assets is 7.1% of total floor space, including Blue Front Shibaura. As we have been communicating, Blue Front Shibaura, this asset is 100% leased up and full occupancy is scheduled in September 2026. Page 27 and 28 shows major development plans for office and logistic facilities under the CRE segment. Going forward, these types of projects will be completed. Next, in the overseas segment. Please go to page 30. In the overseas segment, both operating revenue and business profit declined as we settled the exit cost of the projects in Vietnam, with the project already recognized in the financial statement. For the full year, as we are going to adjust the supply of units based on the business environment of each country, business profit will decline. Next is the investment management business. Please go to page 33. Both operating revenue and business profit decreased in the investment management business. As shown in the chart in the lower part of the slide, the balance of AUM in Japan is steadily increasing, mainly in private REITs and private funds. We anticipate an increase of AUM for the full year and expect both operating revenue and business profit to increase. Next is the property brokerage and CRE segment. Please go to page 34. In the property brokerage and CRE segment, operating revenue grew due to the increase in transaction value in the retail and middle business. As we had spent more for advertisement than initially planned, business profit declined. For the full year, we are planning to strategically invest in advertisement in digital transformation related areas. Accordingly, we anticipate business profit to be flat year-over-year. Next is the property and facility management business. Please go to page 36. In the property and facility management business, operating revenue for both property and facilities management and construction ordered has increased. On the other hand, due to an increase in expenses in digital transformation and personnel that has been already planned, we saw an increase in operating revenue and decline in profit. For the full year, although operating revenue will grow, as expenses are expected to go up, we anticipate an increase in operating revenue but decline in profit. This ends the explanation of each segment. Next, I will explain about shareholder return. Please go to page 10. Dividends outlook for fiscal year 2027 is unchanged from what we have announced in the beginning of the year. As operating profit and each profit item is expected to be at a record high level, dividends are expected to increase for 15 years in a row. Under the financial guidance of total return ratio of 40%-50% and a dividend floor of DOE 4%, we will continue to deliver profit growth and conduct shareholder return based on profit growth. Lastly, I would like to explain about our response to interest rate hikes and the Middle East situation, which recently comes up frequently with our conversation with our investors. Please go to page 39. Although interest rates are rising, we are implementing initiatives to realize growth that exceeds that of interest costs. In terms of funding, we will strive to control the increase of interest costs through flexible and diverse funding methods and funding sources, and through the control of our balance sheet. At the same time, on the business side, as there is a structural shift from a deflationary environment to that of an inflationary one, which is the background of the rise of interest rates, we are proceeding on initiatives to reflect this change to pricing and rent levels and link it to our profit growth. Furthermore, by expanding business areas which we can expect high profitability and expanding to non-asset businesses, we will realize profit growth that exceeds the increase of costs coming from higher interest rates. Please turn to page 40. Against the backdrop of the situation in the Middle East, there are concerns about delays in construction schedules and project handover and cost increases. I would like to explain what measures we are taking and the potential impact on our business performance. Lack of materials, which was once a source of concern, has started to settle down as there has been advancements in securing procurement through alternative routes. There is still delays in delivery in some materials, but the delay is only about several weeks. By adjusting the schedule, we anticipate that there will be no major impact on the completion of projects and delivery to customers. Although there are signs of increase in material cost, we have contingency reserves in our investment plan, which takes into account a certain level of cost increase. We expect we can absorb the increase of material costs by these contingency reserves. Accordingly, we have decided that there is no need to revise our full year outlook. We will continue to strive to achieve our initial plan.