Hello, everyone. Welcome to Asteria Corporation's presentation for the consolidated financial results for the first quarter fiscal 2023. After our presentation, there will be a question and answer session. Now, allow me to introduce you to today's speaker, Asteria's Founder and CEO, Pina Hirano. Thank you for taking time to watch Asteria Group's financial result conference. My name is Pina Hirano, Founder and CEO of Asteria Corporation. Today, I will walk you through our group's first quarter financial results for the fiscal year ending in March 2024. Our group has two business segments: software and investment. Software segment consists of software business and design business. Investment segment focuses on the corporate investment business. The software segment consists of the software business, which we have been doing since our establishment, and the design business. The design business is led by a 100% subsidiary in U.K. The investment segment focuses on the corporate investment business. It is led by a 100% subsidiary in U.S. First, let me explain about the software segment. In the first quarter, revenue rose 16% and gross profit 25% compared with the same period last year. This growth was fueled by our flagship product, data integration middleware, ASTERIA Warp, which saw a 10% increase in revenue. Notably, subscription revenue surged 41%. Our growing product, Platio, also achieved a 55% revenue increase. Within this segment, the design business experienced a remarkable 45% growth, contributing to the double-digit expansion of the overall revenue. However, profit from our investment segment declined due to a sharp fall in the stock price of Gorilla Technology, one of our six portfolio companies, which went public on Nasdaq last year. This downturn led to profit losses in our consolidated financial results. Let's take a closer look at the concrete numbers. Revenue is generated from the software and design businesses. Revenue increased by 16% to JPY 929 million, surpassing the JPY 900 million mark for the first time. Gross profit are generated from the software and design business as well. Gross profit was JPY 803 million, representing a 25% increase. Now, turning to our operating profit and net profit. Looking at the software segment alone, the segment generated a profit of JPY 186 million. However, including the corporate investment business, our operating profit and net profit fell into the negative territory. This is because we hold around 10% of shares in portfolio company, Gorilla Technology. The decline in its stock price caused us to book an unrealized loss of about JPY 2.6 billion. However, it is important to note that these losses are unrealized, and there's no impact on cash. We've already announced it for timely disclosure on July fourth. As a result, we ended up with a net loss of JPY 1,353 million due mainly to Gorilla Technology's performance. Let's take a closer look at the reason of the revenue growth. First, software business alone saw a 9% increase in revenue compared with the same period last year. Notably, products such as Warp, Platio, mobile app building tool, and Gravio, IoT integration platform, have been key growth drivers. As for Warp, due to increased orders spurred by expansion of iPaaS-related product sales and a focus on small and medium businesses, subscription revenue was up 41% year-on-year. Meanwhile, Platio revenue rose 55% due to the growing demand for digital transformation and mobile app-based solutions from various industries, which are facing a talent shortage. As for Gravio, while the pandemic-related demand have eased, we are aiming for further growth in the recently launched next-generation product, which supports both edge and cloud environments. Among our software products, Warp revenue hit highest level in the first quarter. The licensed version of Warp revenue amounted to JPY 180 million, while support revenue reached JPY 310 million. Subscription revenue was up 41% year-on-year. We are pleased to announce that as of August first, the number of customers exceeded a milestone of 10,000. Let's move to the design business, which is operated by our U.K.-based subsidiary, This Place. The acquisition of new clients in the U.S. delivered a revenue increase of 45% year-on-year to JPY 222 million. This reflects the growing demand for design services, particularly among major tech company in the U.S. In addition, we remain committed to driving the design business in Japan forward. I'd like to discuss SG&A expenses. This year marks the third year of our medium-term management plan and focuses on seeing returns on our earlier investment. During the first and second years, we allocated additional budget to invest heavily in marketing activities. As we ended such investment, marketing expenses decreased in the first quarter. We also expanded our workforce throughout the previous fiscal year. This, along with the wage hikes, pushed up human resources costs. The overall SG&A expenses declined slightly year-over-year. This slide shows the bridge from revenue to operating profit. After taking into account the investment valuation loss related to Gorilla Technology, our operating loss stood at JPY 2,456 million. The next slide was added to answer the frequently asked question: how much profit the software segment alone generates? Our revenue comes exclusively from software segment. By deducting the cost of product and service and SG&A expenses, the profit derived from the software segment amounts to JPY 186 million. When looked solely at the software segment, it delivered an operating profit margin of 20%. This is a bridge from operating profit to net profit. We posted an operating loss of JPY 2,456 million. After taking into account financial income and costs, the pre-tax loss amount to JPY 2,232 million. After deducting corporate income taxes and attributes adjustment, our net loss stood to JPY 1,353 million. Since this fiscal year marks the final year of our mid-term management plan, our target is to achieve an EBITDA of JPY 1 billion. Our basis for this target is the fact that our software segment is capable of generating an operating profit margin of over 20% if additional budgets are excluded. When looking at software segment only, the gross profit of software segment stood at JPY 803 million, and the profit amounted to JPY 186 million in the first quarter. We already achieved an operating profit margin of 20% in this quarter. Finally, I show you the financial statement. In summary, we maintain sound financial position and cash flow with an equity ratio of 73%. Cash flow from operating activity was negative number compared with the same period last year. Cash flow from investment and financing activities, as well as cash and cash equivalents at the end of the first quarter, was positive number. That concludes my presentation. Thank you for taking time to watch Asteria Group's financial results. Now, based on his presentation and information disclosed by Asteria, I would like to ask Pina a few questions that are often asked by our investors in Japan and abroad. Question number one: The growth of the software business continued into the first quarter of fiscal 2023. Can we expect this growth trend further down the road? Thank you for the question. The ongoing upward trend in the software business is attributed to the consistently high demand for low-code data integration solutions. Moreover, we are constantly receiving inquiries stemming from the new demand created by the deepening labor shortage and the increased work of people. Given these factors, we anticipate that this growth trend will continue into the fourth quarter of this fiscal year. Question number two: The design business is showing a recovery trend. What are the main factors behind this shift? What are the future prospects of this business? Thank you for the question. The design business has growth for the second consecutive year. In the first quarter, revenue was up 45% compared with the same period last year. The driving factor behind this expansion is the successful acquisition of clients and project in the U.S. Around two years ago, we changed our target client to major IT companies, which resulted in this remarkable growth. As the business enjoys a strong demand and ongoing project, we expect this revenue growth trend will continue. Question number three: How do you think the rise of generative AI will change the software industry? What initiatives is Asteria undertaking in this field? Could you elaborate on the company's current and future endeavors in this regard? Thank you for the question. We use the generative AI intensively in our products. We have four products, and we have already incorporated generative AI into two of them, Warp and Gravio. As for Warp, we've already released the Generative AI Adaptor for ChatGPT in this May. The adaptor enables the integration of corporate data and ChatGPT via ASTERIA Warp without coding. Based on the massive internal data, ChatGPT can generate analysis and reports. Gravio extends the scope of no-code data integration, including massive sensor data. The combination of Gravio and ChatGPT enables users to access necessary data from massive sensor dataset without coding, but with natural language input. Looking forward, we plan to leverage generative AI in other two products, Platio and Handbook X, to improve usability and productivity. In addition, we have an AI-dedicated subsidiary, Asteria ART. Founded in 2019, Asteria ART is researching advanced usage of generative AI in our future products and services. Thank you very much for the explanation. This is the end of our presentation. If you're interested in setting up a meeting with Pina, please feel free to contact us. Thank you for watching. Thank you.