[Foreign language] Welcome to the 2025 First-Half Analyst Meeting of Trend Micro. I think the first half of 2025, the most significant marks, is world uncertainty. The whole world, because of the tariff war, because of the geopolitical conflicts, there's just so much uncertainty. We feel that many of our customers hesitated and were not eager to start new projects. As you can see from the financial report, our first half of the year reflects a significant slowdown and deals being delayed. In all of this uncertainty, there's one thing that is certain, very certain, that is, the whole world is continuing investment in AI. IDC forecasts $623 billion spending in 2028 and 29% growth annually from 2024- 2028. It's all about AI. Within Trend, we also all focus on a project that I call it Trend AI-nize. From our product or solution, our go-to-market, our revenue, we all focus on how do we attach to AI project. In our analysis, we focus on ARR and NRR. Most importantly, we are focusing on the V-One native and cyber service, which is both powered by AI and also made for AI security. You can see in this four types of the ARR in Trend Micro in Q2, we grow to $1.6 billion. These are all composed by four types of ARR. First, the blue line, non V-One, is Perpetual license. The orange line, non V-One, is SaaS subscription. The pink line is Consumer. The green line is where we focus our growth need to be, which is V One Native and Cyber services. These are directly customers buying our Vision One native package. This line, let me compose more of this. Why we so focus on this and why we believe this is the right move. I think if you look at the green lines, NRR is over 140%. That's why we need to move all our revenue onto the V-One native and cyber services. When I decompose this, this V-One attached, get rid of just don't talk about consumer. We focus on the commercial part. There's two parts of the commercial revenue, which is large enterprise. On the large enterprise, about 500 seats. Large enterprise, you can see in Q2, the ARR grow 94% year- on- year. This is the first time the V-One native and cyber service growth pass all the other two types of direct ARR we have. We continue to see this NRR is strong and maintaining above 140%. Just last quarter, we also announced the V-One for MSS, which is support for the MSP. That is focused on the under 500 seats, smaller business. That green line here, the V-One native, we think this a few, just two quarters, it grows 148%. Its NRR also grows above 120% already. I think this is how we are transforming Trend Micro's revenue. We focus on the NRR, ARR for the Vision One native. Because of this, we also launch our project, which is we try to convert all our non-Vision One SaaS platform customers all onto the Vision One platform. We launched this just starting last quarter. We do it in Europe as a test run. The first part, actually, the first part, Stage Zero, for the first half globally, we already stopped selling all the non-Vision One attached SaaS SKU. In Europe, we're starting Stage One, which is our SaaS console retirement, which means that we force our customers to upgrade to the Vision One. Our progress has been very good, showing very good. We will continue this globally. By the end of this year, we will move to a Stage Two, which means renewal of the legacy SaaS SKU will be end of life, end of sales also. Next year, it will be Stage Three, legacy SaaS will end, end of life. This will complete our whole transformation from non-Vision One SaaS platform all onto Vision One SaaS platform. That is much better business, much easier to expand, and getting much better customer satisfaction. Other than that, I think a very important thing is security in AI. How do we transform our solution to be proactive security and powered by AI, also made for AI? This part, I'm very proud too. We are the whole company preparing for this. We are launching a special package, Security for AI. This whole package is all made for AI because in the AI world, if you think about it, the data that's being processed is much huger, much, much faster, and much more new data will be generated and used by the enterprise. How to secure this massive amount of data transferred in, in the AI environment, it requires a totally new approach. All this computing needs to be GPU accelerated. Otherwise, you cannot catch up. You need to process a lot more alerts and consolidate all of those alerts, correlate them so that we can provide the true AI security. This is the package, Security for AI. We are launching in August, which includes Agentic AI, SIEM, Zero Trust S ecure Access, Container Security, AI model security for all layers of security in one package. Why is this so important to the AI security? We believe we need to attach our security solution to the AI budget and the AI build-out process. That's also why we, last quarter, have signed a deal with Dell and NVIDIA's endorsement that we will provide the AI factory security for all the customers. We will continue to do this and go to market momentum with the new AI factory ecosystem. Technically, this is a big, big project. We are very proud that Trend can do this. This is not just AI wash. Say I use some ChatGPT to do it. Actually, it's the whole revamp of the Vision One platform from the Data layer, Intelligent layer, and finally on the Agentic layer. The Data layer part is the huge, very important thing because you need to be able to see all of this data in an intelligent way, understand each of the data, the cyber assets, the account, the ID, and what is the information content that is flowing between all of this entity so that it can compose something we call galaxy view of your digital world. Sometimes we nickname it as the information flow digital twin. It shows how your company's information is flowing and how your company actually operates in the digital platform. By doing this, we can see the whole company's security in a brand new way. You can see the data flow view. You can see the system service view. You can see the geography view. A very simple example of how this can be done and how it can accelerate security, for instance, the red team and blue team. People do pen tests. Usually, this pen test can be done just pure logically and has been done in a certain control environment, not in the real operation environment. With this galaxy view, with this, we call digital twin of your information view, you can run all this virtual attack and then show how the blue team and red team should do and enable the enterprise to do proactive cybersecurity. They can patch the important places they need to patch. They can now spend their resources at the most critical assets. That's how we do this digital twin implementation. Also, we are launching an Agentic SIEM. SIEM is a big market. If you think about SIEM in handling today's environment, especially after AI, the alert will be humongous. There will be a lot more applications that need to, you need to watch out for all of this new data flow. Therefore, this Agentic SIEM needs to be GPU-accelerated. It needs to be able to handle all types of different security logs. Trend Micro's security Agentic SIEM, we will support 900 more data sources since August 1, plus all the new security log sources. We guarantee within three days. When customers give us a security new log, we can have the adapter ready in three days. Very soon, it will actually shorten the time to three hours. We do this because we are now porting and having our alert correlation engine all on GPU-accelerated platform. These are just very true and very different Agentic SIEM experiences. Before, if you want to analyze cases and just one sweep of all your alerts and all your security logs, before, if you use CPU, it takes two hours per sweep. After we do this, we shorten the time to three seconds. Finally, we can catch up with the speed of all those hackers' attacks. This is the Agentic SIEM experience that we are launching. We believe that will be an industry-changing solution for the EIC. Not only our product, our revenue is doing all of this AI project. Most importantly, Trend, the whole Trend, we call it Trend AI-nize. The whole Trend Micro operations are now all running with the AI. For instance, all our coding is accelerated. 55% of the fresh code is powered by AI, using all these AI tools. We have a lot of people worry about so-called technical debt. At Trend Micro, over 35 years, we have so much code. Now we transform all those 20+ years of complex code into simple visual logic by AI. Much easier, much faster to resolve all those technical debts now. We can see we do this AI-enhanced customer support. In the consumer cases, more than 60% of the total cases are deflected. In the commercial cases, more complicated, but still, 43% of total cases are deflected deflections that we can achieve. That's the efficiency of our technical group's operation. Not only that, even our back office, I think AI actually not only changes the company's operation, but it will need to change the company's culture, which is you need to break the data silo. You need to break the organization silo. Utilizing AI and the similar information flow technology that I was talking about, we are transforming our organization into a truly AI-enabled organization where we are showing more collaboration, transparency, and we increase our technical contribution and more open feedback culture by utilizing the AI technology. I think the first half of 2025, even though the world is uncertain, we are very certain, Trend Micro AI-nize, we are successfully marching into this AI era. We will believe we will become the cybersecurity king in the AI era. Thank you.