I am Kamezawa. Thank you very much for watching this MUFG Investors Day presentation video. Our medium-term business plan that started last year sets out how MUFG can empower our stakeholders under our corporate purpose of Committed to Empowering a Brighter Future. Positioning these three years as the three years of new challenges and transformation to develop our business model that adapts to the changes in the environment, we have been working on our initiatives over the past year. The three pillars of our strategy, namely corporate transformation, strategy for growth, and structural reforms, have made steady progress, and we are gaining confidence. While having a good control over expenses and risk-weighted assets, our net operating profits from our customer segment made large gains, and we realize that the ROE-focused business operation has surely penetrated across the organization. In fiscal 2022, by accelerating these initiatives, we hope to offset the decline in net operating profits from the sale of MUFG Union Bank in the entire customer segment to be able to show a solid path toward achieving our medium-term business plan ROE target of 7.5% in fiscal 2023. At the same time, we also feel that an ROE of 7.5% is still not sufficient. In order to raise our ROE further, we will push ahead with our strategy for growth and structural reforms of our medium-term business plan. We will also promote further risk-taking in the existing business domains and see opportunities in the changes in the environment, challenging ourselves in new business to plant seeds of new growth. We will continue to consider investments in new growth areas such as digital, Asia, global AMIS to further strengthen our business portfolio that is unique to MUFG. The external environment continues to be uncertain. The unrealized losses on foreign bonds resulting from U.S. rate hikes and the unrealized losses of bond holdings of MUFG Union Bank, which will hit the P&L pursuant to the sale, have grown since the end of last fiscal year, but they are still within our assumptions we made when we set our target of JPY 1 trillion of profits attributable to owners of parent for this fiscal year, and we feel they are fully under control. We will have presentations from the leaders of seven business groups, three of them being new business group heads. They will talk in detail about the progress of the medium-term business plan and key strategies to achieve the ROE target. I urge you to pay attention to the new risk-taking and initiatives in new business domains that I spoke about earlier. Through this video, I hope that you will gain an understanding of our business strategy and our initiatives toward challenges and transformation. Each presentation will last for about 10 minutes, and the total length is for about 70 minutes. I ask that you watch it until the very end. Hello, I am Osawa, Head of Digital Service Business Group. Let me share with you our review of FY 2021, the first year for the business group and the strategic direction of FY 2022. First is FY 2021 results. Net operating profits was JPY 172.5 billion, roughly flat year-on-year, and ROE was 4%, achieving the plan as cost reductions and other measures offset a decline in net interest income, mainly due to the prolonged low interest rate environment. Please look at the upper right. In FY 2021, we made steady progress in channel shifts through continuous functional improvement of online services, including mortgage loans. On the other hand, we think the cultivation of multiple new pilot businesses to diversify our profit sources may take time before they become pillars of our earnings. In FY 2022, we will steadily proceed with the optimization of our channel network as planned in our medium-term business plan or MTBP and invest our resources in new businesses that are responsive to changes in customer trends. Lower right shows our direction for phased improvement of ROE. In order to steadily raise the ROE of our business group to the company-wide ROE target, we need to reform our cost structure, strengthen our competitiveness through digital transformation of existing businesses, and identify new business opportunities in parallel. As indicated by different shades of the arrows, we will reduce cost first in the current MTBP and will continue to deepen our structural reforms in the next MTBP onward, which will lead to gradual improvement in ROE. In addition, we will gradually raise the priority of measures to increase the top line in order to accelerate the ROE improvement. In the following pages, I will explain our current initiatives for the three key strategies. The first key strategy is channel shift and structural reforms. In FY 2022, we plan to consolidate more than 50 branches, which is a record high level. We expect to realize cost reduction benefits of JPY 53 billion during this MTBP, including channel shifts and operational efficiency improvements. Continuous improvement in our online channel functionality to keep pace with the changing customer behavior is more important than ever. As shown on the lower left, while the number of branch visitors is decreasing, the number of procedures using our AI chatbot and online channels is steadily increasing. Please look on the right side. Our efforts to promote operational efficiency are not confined to MUFG, but are increasingly involving various stakeholders. Last December, we became the first bank in Japan to begin receiving audit confirmation letters electronically on a full scale. Requests and responses with audit firms were traditionally made on paper documents in principle, but in collaboration with several audit firms, about 30% of all requests have been digitized within six months after the start. BizSign, our electronic signature service, is the first system of its kind in the corporate lending field to adopt third-party authorization. This service eliminates digital certificate and is highly appreciated for its convenience for customers and its scalability beyond loan transactions. The second key strategy is to enhance revenue from existing business via digital transformation. In the residential mortgage business shown in the upper left, electronic contract accounted for more than 90% in FY 2021, thanks to the realization of fully digitalized online procedures, and the new loan amount is also increasing steadily, driven by the pursuit of customer convenience through DX. BANQUIC, the core app for consumer finance in the middle left, was able to turn around its balance in FY 2021 after a decline in FY 2020 due to COVID-19. With a new app released in March this year, we will continue pursuing the online functionality improvement. Mitsubishi UFJ Card, shown at the bottom left, was renewed in July last year with enriched functions. As a result of improving the usability of the app, in order to encourage more customers to enroll in the card when they open a bank account, their application rate and the balance of card usage are also improving. Please see the upper right corner. Mitsubishi UFJ Direct, our internet banking service, increased its user base by more than 1 million in FY 2021, thanks to continuous UI/UX improvements. It also received the highest banking app rating in App Store. We will improve the customer flow to refer the increasing number of online customers more smoothly to our group company, au Kabucom Securities, for example, in order to strengthen the profitability of MUFG as a whole. MONEY CANVAS on the bottom right has clocked approximately 1.1 million accesses in six months since its release in December last year. In order to accelerate the shift from savings to investment, we plan to enhance the lineup of insurance and fractional shares by the end of FY 2022. The third key strategy is challenges for new source of revenue. We will view financial functions as module or combination of functions and work to provide them in a variety of forms in collaboration with external providers. In our alliance with NTT Docomo, shown on the upper left, we plan to gradually expand services starting with a digital account service to be launched by the end of this year. With the benefit of earning d points based on usage, we will expand our customer contact points with Docomo customers nationwide and strengthen our business base, including Gen Z customers. As part of Credit as a Service, CaaS initiative, our group company, Acom, will also provide loan functions in collaboration with various retailers' online services. Crezit, with which MUFG is partnering in CaaS development, is a prize winner in the fifth competition of the accelerator program, which will be mentioned later. This is an example of collaboration between a startup and MUFG. The launch of Biz Forward, a JV with Money Forward, is shown on the upper right. By fully utilizing technology and responding quickly to changes in legislation and social conditions, we will meet the needs of SMEs yet untapped by megabanks. In light of the expansion of our business scope upon the revision of the Banking Act, we began verifying the feasibility of advertising business, as shown in the lower right. By combining various financial data held by megabank with CyberAgent's know-how in online advertising and advanced AI technology, we will accelerate our analysis to see how close we can get to the needs of companies. Finally, I would like to talk about the platform for accelerating company-wide DX. At MUFG, each business group has autonomously incorporated DX as an underlying premise for its strategy, some of which will be introduced by each group head later. Digital Service Business Group leads MUFG's DX through the so-called Center of Excellence, a cross-functional DX that supports the business group's activities. SparkX, on the left, is a new MUFG-wide business creation program launched this year. The program supports the realization of business proposals solicited from employees who are willing to put our purpose into practice. Under the concept of new business development that anyone can work on, President Kamezawa has shown his commitment to all group employees and has held multiple training sessions and seminars to promote the project. The finalists will be given the opportunity to launch their own businesses in addition to the commitment of management resources. We expect the corporate culture to change steadily as we continue to provide such opportunities for actual practice and new business creation training every year. We believe that our accelerator program and equity investment support system, shown on the upper right, that contributed to open innovation have penetrated into the startup industry. We have ongoing collaboration with many startups, including Crezit mentioned earlier, that are created through accelerator program and investments from MUIP. Going forward, we intend to make a significant contribution to supporting the growth of startups through industry, government, academia collaboration based on our accumulated experience. The last point is nurturing digital specialists. In order to accelerate the company-wide DX activities, we will expand the digital skill certification system for all employees and develop core human resources during the current MTBP period, with the aim of assigning core DX personnel to all business lines. That said, I do not think new business models can be developed with DX knowledge and skills alone. We can develop services that resonate with our customers only when coupled with the skills to thoroughly explore the social inconvenience and dissatisfactions and customer issues as shown in SparkX on the left side. That is all from me. Thank you very much for your attention. I am Miyata, Group Head of Retail & Commercial Banking and the Head of the Wealth Management Unit. I will talk about the progress of our medium-term business plan and our key strategies. Please look at the upper left, Progress of the medium-term business plan. In fiscal 2021, our net operating profits were JPY 103.9 billion. ROE was 4%, much higher than fiscal 2020. We were able to make steady progress towards achieving the target for fiscal 2023. As the chart in the lower left shows, we had strong base profits, including domestic and foreign exchange, deposits and loans. In addition, as a result of promoting corporate and wealth management solution business on a group-wide basis, we saw profit gains in asset management, inheritance, real estate, solution, and other focus areas, demonstrating our earning power. As shown in the upper right, we feel this is due to the penetration and embedding of key strategies pursued by the bank, the trust bank, and Mums working together as one. At the same time, as for capital business at the core of our corporate business, where we directly approach the equity value of corporates, we feel there's much room for expansion. We'll aim at further monetization by actively making use of the wealth management digital platform, which I will talk about later. Please go to the next page. This is a review of our key strategies. At MUFG, we consider the wealth management business as our highest priority strategy, and we have been promoting this business on a group-wide basis, including the bank, the trust bank, and Mums. As a result, as shown in the upper half, wealth management net operating profits in fiscal 2021 were up JPY 16 billion or higher by 33%, making steady progress towards achievement of +JPY 44 billion in fiscal 2023. The keys in implementing this strategy are as shown at the bottom. We will face our customers' challenges squarely and will try to meet their needs. To do so, we will work on a cross-entity basis, collaborating with our business partners to provide comprehensive solutions on a one-stop basis. Let me talk more concretely about our achievements in the last fiscal year. In asset management in the middle left of the page, along with the penetration of the advisory model, customer referrals through bank securities collaboration made steady progress. In addition, the stock balance of investment assets grew to JPY 14.3 trillion. Next, the middle right of the page. By addressing the business challenges of our customers squarely, business and asset succession, and the amount of interest of the testamentary trust have grown to JPY 1.7 trillion. Also, real estate transactions from wealth management customers with collaboration between the bank and the trust bank are also showing dramatic growth. This year, the second year of the medium-term business plan, now that the business model has been widely penetrated in the organization, we'll now focus on its execution in the market and vis-à-vis the whole of our customers to accelerate monetization. Please go to the next page. This is the concrete execution strategy. First, the market. Upper left, out of the 200,000 corporate customers that Retail & Commercial Banking Business Group has business with, the valuation of equities held by owners of 70,000, the key public and private companies, reaches as high as JPY 150 trillion. Also, out of the 1.7 million retail customers, the total asset value of 200,000 customers that we have been able to identify their asset holdings through our profiling activity comes to JPY 110 trillion, which is huge. Next, our workforce to take on this business. As shown, the number of people using the platform is about 10,000, mainly at all branches of the bank, the trust bank, and Mums, as well as in support units such as solution and real estate of the bank, the trust bank, and Mums, such as solution and real estate. The RMs and product offices are coordinating on the platform to provide comprehensive service solutions with high added value on an MUFG group-wide basis. In lower left, we show examples of how the platform is utilized. Once we are able to identify the succession needs of our corporate and individual customers with the goal planning system, we'll use the wealth management digital platform as the foundation for making proposals to our customers. The group will work as one to offer various products and solutions to meet their needs. Please look at the upper right. This is business promotion using the digital platform. First, number one, gaining trust from our customers. On provision of services using the platform based on information sharing between the bank, the trust bank, and Mums, more than 90% of our customers that we had notified said they agree, and 42,000 customers have given us consent, a dramatic growth. Next, number two, approach. Recommendations will be distributed to relationship managers with next best action, enabling effective and efficient approach to customers. Number three, proposal. To the 40,000 customers who have agreed to the usage, the number of proposals made based on the balance sheet and the cash flow analysis is about 20,000 or 4.8 x. In the case of succession proposals, the number is about 10,000 or 6.8 x. Obtaining consent for platform usage and our proposal activities have just started, so the real results are yet to come. Right now, what we can say is that our execution strategy and our monetization model is very simple. By obtaining consent for the use of the wealth management platform, we increase our coverage. We immediately drill down customers' needs and make proposals. Because it is simple, I am convinced that we can drive this forcefully. Please look at the lower right. On strengthening of the human capital that is needed for implementation of the strategy, let me explain our current initiatives. Those people belonging to the Wealth Management Unit, we have implemented reforms in the human resource system operation ahead of others. Specifically, we are enhancing the expertise, diversity, and engagement of the people supporting our strategies. Also, we have introduced a system of longer periods of client coverage. By evaluating the process and the results, we will be improving engagement. By incorporating such initiatives in the solution division and the entire Retail and Commercial Banking Business Group, we will make our human capital more resilient. Please go to the next page. Let me explain our initiatives vis-à-vis corporates, individuals, and the affluent segment to solidify the growth of our business group. First is building a business platform for corporate customers. The challenges and needs of our corporate customers are getting more diverse over the years to include digital transformation and decarbonization. Against this background, last year, we have turned BusinessTech into our subsidiary and released our digital transformation platform called Bizi-ECO. In providing financial and non-financial solutions to our customers, we will be enhancing its functions, and the number of solution content will reach 300. Let me discuss our three initiatives related to this. First, in addition to 3,000 RMs making offline proposals, we are opening up Biz-ECO to 400,000 corporate customers who are currently users of MUFG Biz, making available free online access. Second, as shown at the bottom, we want Biz-ECO to have wider coverage outside of MUFG customers. Together with our business partners, we will be strengthening our collaboration with regional banks. Third, for those startup companies who are exhibitors on Biz-ECO, MUFG will provide support in terms of funding and human resources. IPO and other needs will also be supported so that together with quality enhancement of Biz-ECO, MUFG will capture profit opportunities over the mid to long term. Please look at the right side. This is about Excellent Club, which is a service mainly targeting at the affluent segment. Regarding the customers who are members of Excellent Club, which is currently managed at the trust bank, there's a track record that shows that after these people have joined, their AUM has grown and that it continues to grow. This framework will be adopted at the bank that has the premier customer base in the MUFG Group, so that various financial and non-financial services can be deployed. By building relationships with their customers over the mid to long term, including their family members, and enhancing their loyalty, the bank version Excellent Club will be positioned as the platform for solution provision when needs and problems are so diverse in this aging society. We'd like to contribute to solving problems in the society. Please go to the next page. We need to implement our business strategy efficiently for each segment. That is why we will build our sales structure that relies not only on face-to-face contacts, but fully utilizes virtual and digital technologies. First, we will expand the functions of our promotion main office, which is a central unit responsible for non-face-to-face sales at the bank. Specifically, needs will be identified through data analysis to increase effective remote contacts. We'll try to complete all transactions on a remote basis as much as possible. As for the wealth management digital platform, we'll open our goal planning system functions to our customers so that customers can do their own planning using smartphones and tablets. That way, the solutions can be proposed to them more directly. These initiatives not only enhance our profitability, but they will also lead to cost reductions, including streamlining, staffing, and channel reorganization. As shown in the upper right chart, in fiscal 2021, we reduced our base expenses, excluding restructuring and other expenses, by JPY 11 billion year-on-year. Going forward, we will continue to focus on further reduction of base expenses together with lower system depreciation cost and lower deposit insurance premiums. Lastly, the Retail and Commercial Banking Business Group and the Wealth Management Unit will ensure execution of our business. What this means is that everyone in the group will deliver services to our customers through our business to empower our customers. We will surely embody the purpose of the MUFG Group through our business. That concludes my presentation. Thank you for your attention. I am Hayashi, Head of Japanese Corporate & Investment Banking Business Group. Let me share with you the progress of MTBP in JCIB Business Group and our business management in FY 2022. Please turn to page 16. The left side shows the progress of the MTBP. In FY 2021, net operating profits increased by JPY 45.7 billion, or 19%, well above the GDP growth rate, thanks to an increase in gross profits and reduction in expenses. ROE was 6%, up 1% year-on-year as a result of the sale of equity holdings and the reduction of risk-weighted assets by JPY 1.8 trillion year-on-year. These results, as shown in the lower-left step chart, translate to an increase of JPY 44.6 billion in net profits. In MUFG Investors Day last year, I explained that we would pursue staircase management, where we steadily accumulate improvements year-by-year, and in FY 2021, we successfully climbed the stairs. We will continue these efforts and aim to reach ROE of 9% in FY 2023. The main achievements and challenges for FY 2021 are listed in the upper right. Details will be explained later. Based on these achievements and challenges, the three key strategies of the business group for FY 2022 are shown in the lower right. One, further strengthen top-line revenues. Two, reallocations to highly profitable assets. Three, contribute to improve our customers' medium to long-term profit. We will continue our staircase management while fundamentally reorganizing our business processes and taking on new challenges to achieve sustainable growth. From the next slide, I will explain our business group management for FY 2022. Please turn to page 17. First strategy, further strengthen top-line revenues and gross profits. In FY 2021, the performance evaluation applied to the front offices was revised to ROE-linked system, and a four-quadrant management was introduced to visualize the RORA level and amount of RWA used. As shown in the upper right, lending spread improved in both yen and non-Japanese yen, and lower right, non-interest income also grew. As a result, interest income on the lower left increased by JPY 18.1 billion year-on-year. Non-interest income that does not use asset also increased by JPY 17.5 billion year-on-year. Efficient RWA management also progressed as a result of a zero-based review of the policy of all equity holdings and thorough negotiations for reduction. As a result, profitability of the entire business group improved in total macro value, as shown on the upper left. By company group, profitability improved in 1,000 out of the total 1,700 corporate groups, or approximately 60%. As I mentioned earlier, ROE of the business group was 6%, up by 1% year-on-year. Please look at the right side again. In FY 2021, we introduced a four-quadrant management system to instill the front office with a profitability-focused mindset and behavior for each transaction and thoroughly negotiated pricing without compromising even one basis point or 1% of a yen, resulting in lending spread improvement by four basis points year-on-year for yen loans and by six basis points for non-yen loans. Non-interest income, which does not use asset, also expanded. Trust and real estate brokerage fee income grew by 40% year-on-year by organically linking the bank's balance sheet offerings to large deals that capture customers' business restructuring. In addition, the securities primary business grew by 6% year-on-year, thanks to strong capital market performance and the closing of several large deals. Although not stated here, non-Japanese yen deposits is the earnings driver to realize staircase management in FY 2022. We will accurately grasp the monetary policies of each country in response to global inflation and ensure interest rate pricing for loans and deposits that is responsive to changes. We will also aim to expand non-interest income further by deepening bank, trust bank, securities collaboration to provide seamless solutions to our customers' business challenges. Please turn to page 18. Next, I will explain the reduction of equity holdings. It has been said that we have already reached the rock-solid reluctant customers. When I assumed the position of the group head, the most important task I established for FY 2021 was to review our entire equity holdings from a new perspective and to gain consensus to sell them through careful dialogue with our customers. Concurrently, various changes in the social environment also led to significant progress in building consensus and executing the sale. Though it is not included in the chart, in FY 2021, we got the agreement for over JPY 300 billion on acquisition cost basis, which is double what it was the previous year, and executed sales of JPY 169 billion, an increase of JPY 32 billion year-on-year. The balance of a little less than JPY 250 billion that has been agreed but not yet executed is carried forward to FY 2022. In order to secure this trend, we raised our reduction target by JPY 200 billion to a total of JPY 500 billion during the MTBP period ending in FY 2023. I, myself, and five other managing executive officers and corporate banking division heads will continue to be at the forefront of negotiations to steadily promote the sale of these assets. Although not mentioned here, we are also working to recover low-margin loans at maturity in order to improve the profitability of the assets. As a result, we will release unprofitable risk-weighted assets and reallocate them to high-return assets. Next is strengthening our risk-taking capabilities. As shown in the upper right, in FY 2021, the balance of capital financing increased by 21% year-on-year, and the balance of real estate non-recourse loans increased by 40% year-on-year. In FY 2022, we will continue to strengthen our risk-taking capabilities while closely examining returns, risks, and profitability, and also work to strengthen our structure to develop highly profitable deals. Traditionally, MUFG failed to provide integrated functions in many cases because of the siloed activities, even though each entity has industry-leading solutions. Wholesale Coverage Division was established in April this year to strengthen the integrated cross-utilization of MUFG functions, as shown on the lower right. This division is designed to capture new business opportunities by linking the frontline banking function with the trust bank and securities functions that provide various solutions. For example, we envision a case where we support an owner-operated company that intends to go private to generate funds by liquidating the owner-owned real estate. Please turn to page 19. Next, I will explain JCIB Business Group's contribution to improve our customers' medium- to long-term profit as our initiative for sustainable growth. Let me first share with you my perspective, which is not stated here. When I became the group head last year, I became keenly aware of the low expectations that our large corporate clients had towards MUFG. I strongly felt that customers only expect banks to do what we can do, and that they did not recognize us as a partner in this era of change. This is a critical issue that is directly connected to our own ROE and ROA. The existence of a financial institution goes hand in hand with the sustainable growth of its customers. In order to run at full speed with the sustainable growth of our customers as our theme, we believe we need to first restore our ability to measure the value of assets and business. We must be able to accurately grasp the value of each and every asset that makes up the balance sheet. That is, how much cash flow it can generate. If there is a gap between the intrinsic enterprise value and the market cap given by the capital markets, we must be able to discuss the factors that contribute to that gap. A function that merely checks the amount of debt on the balance sheet and the adequacy of the company's repayment source on the cash flow statement cannot fulfill its raison d'être in this discontinuous era, in my view. I want to significantly raise the roles and expectations for MUFG by restoring our ability to measure the value of assets and business. As you can see on the lower left, we first established Value Design Partners Division, whose mission is to measure the value of assets and business and to engage in customer dialogue and make various proposals to improve the corporate value, which is the accumulation of such value. In addition to measuring the value, we will also begin investing for business co-creation. Rather than looking at customers from the limited perspective of a creditor, we will dive into our customers' fields and share business risks with them, thereby gaining a position as an investor and getting closer to the reality of their business, which will lead to new insights and initiatives to break through the status quo. To support these activities, we also established Sustainable Business Division, which thoroughly pursues sustainability in the environmental and energy fields, and Industry Research and Creation Division, which works with government and academia to create industries focused on solving social issues. The heads of the last two divisions are external mid-career hires. In addition, I onboarded a former co-head of global equity research at a U.S. investment bank to assist me in these efforts, who will also be responsible for educating and guiding the entire JCIB Business Group. As part of the value co-creation approach shown on the right side, we are stepping up our investment efforts. Our investment balance in FY 2021 was up 63% year-on-year, and as an example of our newly launched business co-creation investments originating from social issues, we executed these three cases in FY 2021. Although not mentioned here, we believe that restoring the ability to measure the value of assets and business is synonymous with gaining a deeper understanding of our clients' actual business, which in turn will enable us to negotiate the loan pricing with confidence. This is an initiative that will have a significant impact on our core business. Please turn to page 20. Sector-specific approaches are reaching their limits as we seek to improve our customers' medium to long-term profit. Social issues exist across industries, and the solutions to these issues also cut across industries. We believe that financial institutions should once again play a role as the glue that connects customers with each other, customers with their respective stakeholders, and with government and academia. Representative themes that we are working on now are shown on the upper left. In particular, we will focus on the materials industry in the areas of environmental issues and carbon neutrality, where the initiatives are preceding the others. We will materialize our efforts to support realistic transitions in a responsible manner in the economies of scale-type industries that provide a stable supply of social necessities at affordable prices. In addition, we will collaborate with Tokio Marine to provide integrated solutions for issues that become visible in the carbon neutral process. The two companies that have managed different risks will create new business opportunities by partnering toward carbon neutrality. Furthermore, we aim to fulfill our financial function to drive social change from an early stage, including aggressive investments in areas such as eliminating food loss with an extremely large GHG reduction effect, rebuilding the semiconductor industry that contributes to economic security, launching the space business with great growth potential, and launching the battery business essential for building electric vehicles and efficient power transmission and distribution networks. In order to contribute to the resolution of such wide-ranging social issues, it is necessary for each and every employee to find a cause in his or her work, to have an unrivaled sense of ownership, and to perform to the best of his or her ability in their respective positions. Changing the daily lives of each individual employee will lead to sustainable growth of our company. As shown in the upper right corner, we started Karaoke in FY 2021, where executives and employees in the business group themselves propose new businesses and operational reforms based on their own free ideas. In investment Karaoke, an inventory holding solution business was proposed, and in July, MUFG Trading was established, appointing the employee who sang the Karaoke as its president. MUFG Trading offers an inventory holding scheme to customers with global supply chain issues and contributes to building the resilience of customers' supply chains. We have already received more than 200 inquiries. Monthly town hall meetings are also held, where employees and I engage in face-to-face dialogue in order to enhance their sense of unity in business group operations. A total of more than 2,500 employees attended the three meetings in May, June, and July. All questions raised in these meetings are answered by myself in writing at a later date. We will meet our shareholders' expectations by realizing staircase management and enhancing the role expected of MUFG by our customers. This concludes my explanation. Thank you very much. I am Tadashi Yamamoto, Head of the Global Commercial Banking Business Group. I will present our current performance and the progress of our medium-term business plan. Please go to the next slide. In fiscal 2021, due to lower loans because of the pandemic and margin shrinkage from the lower rate environment, the net operating profits were JPY 229.4 billion, down JPY 42.5 billion year-on-year. On the other hand, with credit cost reversals at MUFG Union Bank and the gains from the sale of equity in a subsidiary at Krungsri, the ROE was 8.5%, well above the previous year. Also, we have built an integrated collaboration framework between MUFG and Bank Danamon, and we're able to increase the number of collaboration deals. We also made a big decision of the sale of MUFG Union Bank to U.S. Bancorp. This fiscal year, we will focus on supporting the growth of Bank Danamon, pursuit of new businesses, and completion of the sale of MUFG Union Bank. Next, let me talk about Krungsri in Thailand. The results for fiscal 2021 with the sale of equity in a subsidiary, net operating profits were up JPY 28.8 billion year-on-year at JPY 253.6 billion. Net profits were up JPY 36.9 billion at JPY 115.9 billion. However, excluding the gain from the sale, with a prolonged pandemic and the resulting delay in the recovery of the domestic economy, retail loans with wider margins struggled to grow. With the continuation of the low interest rate environment, margins shrunk, and as a result, net operating profits were down year-on-year. On the other hand, due to credit cost controls, net profits were up year-on-year even without the gain from the sale. As for the first quarter of fiscal 2022, backed by domestic consumption recoveries after the pandemic had calmed down, retail loans have rebounded and net operating profits and net profits were both up year-on-year. As shown in the lower left, even during the pandemic, Krungsri has maintained a lower non-performing loan ratio compared to the peers. It continues to implement disciplined risk return management. One of the growth strategies that carries over from the previous medium term business plan is the pursuit of opportunities for discontinuous growth through entries into neighboring countries. As shown in the upper right, in 2016, entry into Cambodia with the purchase of Hattha Bank, and in 2020 in the Philippines through establishment of a joint venture with Security Bank. This fiscal year, with the completion of the acquisition of SHB Finance, entry into Vietnam is planned. In addition, with the recently announced planned acquisition of Capital Nomura Securities, we will aim to further strengthen and expand our retail business. Another growth strategy is investment into startups, mainly in the fintech area through corporate venture capital, Krungsri Finnovate. Last fiscal year, a private equity fund for startups was established in Thailand, the country's first. Through enhanced alliance with fintech companies and platformers, we aim at acquiring new revenue sources. Next, Bank Danamon in Indonesia. The results for fiscal 2021 through promotion of collaboration with MUFG, loans to large corporates and mid-sized companies grew, but loans to MSMEs and individuals struggled as they were strongly impacted by the pandemic. Overall, the loan balance fell and the net operating profits were down JPY 3.8 billion year-on-year at JPY 66.9 billion. On the other hand, with the respite in the COVID-related rescheduling, credit costs were down and net profits were up JPY 4.5 billion at JPY 12.7 billion. As for the first quarter of fiscal 2022, with market recoveries, auto loans started to rebound and loans to large and mid-sized corporates continue to grow. Low-cost deposit increases have also contributed, and net operating profits are up JPY 100 million year-on-year at JPY 15.7 billion. With credit cost controls, net profits are up JPY 2.7 billion at JPY 7 billion. One of the growth strategies in the current medium term business plan for Bank Danamon is to strengthen the consumer finance business. In April this year, we appointed the former CEO of Adira Finance, the subsidiary that handles auto loan business, as vice president in charge of retail. We are working to build a strong collaboration framework between Bank Danamon and Adira Finance. At the largest scale motor show in Indonesia held in April, Bank Danamon, Adira Finance, and MUFG jointly assumed main sponsorship. While enhancing our presence in the industry, it also led to the acquisition of about JPY 2.7 billion of new auto loans. We are also working on the strengthening of the collaboration framework in corporate transactions between MUFG and Bank Danamon. By building a virtual one-team between Bank Danamon and MUFG Jakarta branch, our synergy loan balance grew about three times compared to 2019. We also took the largest share in the financing of the largest M&A deal in the industry, further deepening the collaboration relationship. Next, I'd like to talk about our initiatives in new business domains. First is the promotion of digital transformation. In our Grab collaboration, in our strategy to cover the ASEAN region, each partner bank is working on provision of new digital financial services. In Thailand, we see steady growth of small lot loans for drivers and food merchants that we started in fiscal 2020. Currently, we have started providing loans to Grab users as well. In Indonesia, co-branded credit card with Bank Danamon was launched from last fiscal year. As shown in the lower left, at each partner bank, alliance and collaboration programs are underway with platformers and fintech companies other than Grab. Going forward, we will promote the strengthening of alliances with platformers in the ASEAN region to enhance the digital presence of our partner banks. Next, let me talk about the promotion of carbon neutral business. As the last year's COP26 symbolizes, across the world, there is higher momentum to deal with climate change, and countries are accelerating their efforts towards achieving carbon neutrality. In ASEAN, adoption and expansion of renewable energy is planned and increased funding needs are projected. Krungsri has already established a leading position in the ESG finance market in Thailand. MUFG will support the decarbonization initiatives in ASEAN toward carbon neutrality together with partner banks. The impact of the current slowdown of the world economy requires vigilance. To capture opportunities from recoveries in personal consumption after the pandemic, we will work to support growth at Bank Danamon and focus on the promotion of new business domains and to achieve the ROE target. Next, we will discuss the progress on the sale of MUFG Union Bank. I am Takase, Deputy Head of the Global Commercial Banking Business Group. Let me talk about the progress on the sale of MUFG Union Bank. As shown in the upper right, we have launched a project promotion framework spanning across Japan and the U.S. together with U.S. Bancorp to work towards closing. The details of the assets covered in the sale, as well as the operation framework after the sale, have already been finalized and agreed with U.S. Bancorp, so the preparations for closing are complete. However, the sale requires the approval from the regulators. This is also something that we are working together with U.S. Bancorp, but since we still do not have the approval at this point in time, we decided to make the timing of the closing to be in the second half of 2022 and made the announcement the other day. We continue to wait for the approval from the regulators, and we're making our final preparations so that the transaction can be closed as soon as we get the approval. In the lower right, we talk about our future direction. Even after the sale of MUFG Union Bank, the importance of the U.S. market remains unchanged for us. We will focus on corporate transactions where we can play to the strength of MUFG and streamline our operations and systems. Also, through our investment in U.S. Bancorp, we will maintain our indirect engagement in the U.S. retail commercial business, and we will study collaboration opportunities with U.S. Bancorp. Next, let me talk about the impact of the unrealized losses on the bonds and other instruments held by MUB. As the lower of cost or market method is applied to MUAH financial results in connection with our decision to sell MUB, MUFG's quarterly results are expected to be affected by fluctuations in the fair value of MUB's assets. Hikes in U.S. interest rates since the beginning of the year resulted in unrealized losses totaling JPY 270 billion as at the end of March on MUB's holdings of bonds and other instruments. However, we have countered these losses through hedging and are expecting to partially offset them by JPY 15 billion. In the first quarter results of MUFG, we project to post losses of about JPY 255 billion. Let me talk about the impact on the full year results of MUFG. As shown in the bottom of the table, rows one through three do affect the quarterly results of MUFG. In addition to the losses of about JPY 255 billion in the first quarter, due to the U.S. interest rate hikes since March, there is the possibility that there will be additional unrealized losses in the second quarter after March. However, net unrealized losses on available-for-sale securities have already been countered through hedging, and we project the impact on the full year results to be contained at around JPY 200 billion. On the other hand, while unrealized losses on held-to-maturity bonds and loans also affect the quarterly results, since they do not accompany a reduction of net assets in MUB's results, there will be an equivalent amount of extraordinary gains to be recorded upon MUB's transfer. As a result, if the sale is executed within the year, they are expected to be completely offset in the full year results. Therefore, losses for the full year are expected to be contained at around JPY 200 billion. Thank you for your attention. I am Nakahama, Head of Global Corporate and Investment Banking Business Group. Today, I will explain the progress of Global CIB Business Group's Medium-Term Business Plan, MTBP, and key strategies for FY 2022. First, a review of last year's fiscal year, FY 2021. Net operating profits increased vis-à-vis FY 2020, and ROE was 7%, up four percentage points, thanks to the reversal of credit costs. In addition to the balance sheet optimization that has continued from the previous MTBP, the key strategy of the current MTBP drove the results, such as lending spread improvement by expanding secured financing for institutional investors and higher fees and balance sheet-related incomes through asset turnover. Flow product cross-sell was weak due to stagnant market conditions. The improvement in the non-interest income ratio is expected to be limited for the time being as the lending spread continues to improve, but the business strategy itself is generally progressing on track, and the direction of our key strategies remain unchanged as we proceed with our business operations. I will explain the details of each strategy using the following slides. First is GCIB and Global Markets, or the integrated management of GCIB and Global Markets' sales and trading domain. The left chart shows the business overview and focus areas of GCIB and Global Markets, and the right chart shows the CAGR of the MTBP in purple and the FY 2021 results in orange circles for each business domain. Please look at one, two, five and eight on the right. Secured finances and securitization for institutional investors, which was designed to improve lending spread and increase fee revenue, achieved revenue growth rates that exceeded the MTBP CAGR target in each business domain. In five, securitization in particular, the expansion of CLO origination business in the U.S. market, and in eght, structured solutions business, the accumulation of highly profitable secured finance assets contributed to the results exceeding the MTBP targets.two and four, loans and bonds underwriting and secondary trading, which is designed to increase fee revenue related to loans and corporate bonds, achieved a revenue increase at CAGR level and remains strong. On the other hand, six and seven, FX and flow product cross-sell, leveraging lending relationships, was affected by a decline in demand due to lower market volatility in both FX and interest rates, resulting in a year-on-year decline in revenues. Our future direction based on these results is as follows. In secured finance and securitization for institutional investors, we will expand our product capabilities and asset classes that meet our target institutional investor clients' needs in order to enhance our ability to respond to cyclical changes in the financial market. We will continue to prioritize the allocation of risk-weighted assets to expand the portfolio. In terms of geography, we will expand our initiatives in the U.S., which is preceding other regions, to Europe and Asia and build a structure that can capture the needs of institutional investors on a global basis. On the other hand, as institutional investors' risk preferences and investment assets, which is underlying asset of secured finance, are sensitive to changes in the market environment, we will take steps to enhance our ability to respond to these changes in our risk tolerance. Next is loans, bonds underwriting, and secondary trading. Syndication and DCM wallets, which indicate the size of the loans and bond underwriting markets, are expected to be flat to slight decline year-over-year in the IG market. While the US non-IG market is expected to see a reactionary fall from last year's record-high levels. Our policy of maintaining a wallet rank of around tenth in the IG market and expanding our market share in the US non-IG market in order to increase profitability remains unchanged. On the other hand, given such a severe market environment, it is important to accumulate high-quality deals and manage risks effectively at the same time. In the non-IG market, in particular, where market and credit risks are high, it is important to ascertain the quality and profitability of deals at the time of origination, so we will build our strategic relationship with institutional investors and leverage our collaboration with Morgan Stanley to strengthen our underwriting and risk management capabilities. In addition, it is essential to strengthen the secondary sales function in order to enhance deal origination and underwriting capabilities, as well as minimize distribution risk, so we will mobilize our resources here through GCIB/Global Markets collaboration. In FX and flow product cross-sell, we expect a turnaround from the market slump in FY2021 and a demand recovery in FY2022, thanks to expansion of market volatility. In order to capture such demand, we will strengthen our market sales and trading talent and reinforce our collaboration with GCIB client coverage by setting optimal KPIs. In executing these initiatives, we will work to improve the comprehensiveness of our business domains to respond to cyclical changes in the financial market and to ensure agility and flexibility to instantly detect changes in the environment and fine-tune our resource allocation. As a prerequisite for this, it is essential to strengthen the expertise of the coverage function to address client needs, the product function to provide optimal solutions to those needs, and the risk management function to ensure appropriate risk-taking capabilities. We will focus on investing in talent, including hiring, promoting, and training specialized personnel. Next is on strengthening our fundamental business platform. The left side shows the status of our portfolio management based on Quad Analysis, which has continued since the previous MTBP. The average ROE in each quadrant is improving, and the QUAD median is moving to the upper right, which means that profitability and profit amount per company are improving steadily. Through continuous efforts, we have made progress in withdrawing from unprofitable or low-return transactions, and from the current MTBP, we are shifting our focus slightly to efficient RWA usage by expanding highly profitable secured finances, and we can realize that we are moving to the next phase. At the same time, we will maintain our disciplined RWA control and continue with disciplined deal screening and profitability monitoring as a business management principle. While we expect the lending spread to continue improving, we need to focus on the fluctuations in the non-Japanese yen loan-to-deposit balance. MUFG will continue to manage its non-Japanese yen liquidity risk thoroughly as the sale of MUB may affect the loan-to-deposit balance, especially the deposit balance in the U.S., in addition to the policy rate hike in various countries against the backdrop of rapid inflation. Upon assuming the position of the group head this fiscal year, I repeatedly communicated to all employees in the group the three keywords, simplicity, empowerment, and client delivery, as our overarching management principles. We will resolve as much operational and organizational complexities as possible and promote autonomy and challenges through bold delegation of authority. Based on these principles, we will especially redouble our client-facing activities, both in quality and quantity, and strengthen our earning power. These are extremely simple and obvious basic actions, but I will address them with the spirit of no challenge, no success. In terms of challenges, we are promoting new business initiatives for future growth. Mars Growth Capital, launched in 2020, is expanding its business by increasing the amount of Fund 1 for middle stage startups and established Fund 2 for late stage startups in January of this year. The speed of the AI-based credit assessment model and the funding method that can avoid stock dilution match the need of startups, and we have already contacted over 1,000 startups, steadily increasing net cash investment amount while also achieving a high IRR. In establishing Fund 2, we have been working day and night to refine the AI model to screen unicorn companies and deploy the model to different business domains and exploring possibilities for further business expansion. In addition, in India, where the economy is growing rapidly, driven by the digitalization of finance, we established MUFG Ganesha Fund with the aim of capturing this growth and leveraging our digital expertise. We have already decided to invest in the first deal worth $10 million and will continue the deal sourcing and due diligence and accumulate the investment amount. In addition, in the area of sustainability, we are engaging in impact investments to drug discovery ventures, underwriting green finance by leveraging MUFG's strong presence in project finance, and establishing facility to promote new technologies such as hydrogen, ammonia, and CCS. In line with MUFG's greenhouse gas emissions and other targets already announced, we are improving our operational structure and strengthening our customer dialogue, and will continue to strengthen this initiative as one of our priority strategies. These are the key strategies of the global CIB business group. With the rapidly changing economic environment and the increasing volatility, enhancement of risk management is also an important factor for ROE improvement. In accordance with the business management principles shown earlier, we will strengthen our expertise, build a robust and resilient business management structure, and pursue profitability improvement. I am Seki. I assumed the position of Head of Global Markets in April. Today, I'd like to look back on fiscal 2021, the initial year of the medium-term business plan, and discuss the initiatives for the second year, fiscal 2022. First, as shown in the upper left, net operating profits for fiscal 2021 fell by JPY 132.3 billion compared to fiscal 2020 to JPY 208.3 billion. ROE was 4.5%. Regrettably, both were well short of the plan. One of the major factors behind this underachievement is the change in the market environment, especially in the second half of the fiscal year. Higher commodity prices and inflation concerns surfaced. With a switch to monetary tightening in the West, overseas interest rates rose sharply. In Japan, together with widening interest rate differential with overseas markets, there was a trend shift to yen depreciation. With the rise in uncertainty in the market participants' activity level also declined. As a result, in the customer-facing sales and trading, revenue opportunities decreased. In the treasury business, with the unrealized losses incurred resulting from the drop in the prices of foreign bonds, we were forced to rebalance part of our portfolio and realize losses. However, as shown in the upper right, even in such a highly uncertain environment, GCIB and Global Markets' integrated operation progressed in sales and trading. In the treasury business, we were able to produce certain results, including improved profitability through reduction in non-yen mid to long-term funding. Also, in terms of our challenges, first, in the sales and trading business, we need to raise the level of our sensitivity to changes in the environment and to further raise the activity level to be able to capture the changing needs of our customers. In the treasury business, we need to demonstrate a deeper level of insight to enable flexible market operation. We need to take prompt action in developing a portfolio to secure interest income and improve investment yield, even in a rising rate environment. Based on such awareness of the challenges, in fiscal 2022, as shown in the lower right, numbers one through three are to be promoted as our key strategies. From the next page onwards, I will explain each one of these three strategies. Please go to the next page. This slide shows further strengthening of our sales and trading, which is our key strategy number one. First, upper left, our awareness of the environment. Currently, changes in the global money flow, rising geopolitical risk, green digital trends, these three themes are intertwined, creating structural changes in the business environment. As a result, our customers are also faced with new needs and challenges. To address these new needs and challenges of our customers, we will strengthen further our coordination with customer segments and by increasing our activity volume and providing optimal and high-quality solutions. We aim at more than JPY 400 billion in revenue for sales and trading business in this fiscal year. Next, focusing on each segment. First, lower left of the slide, the GCIB segment. Investment strategies of institutional investors and the funding methods of corporate customers are currently undergoing reviews and diversification. In order to respond to these developments, first, we need to improve various business infrastructure and frameworks, as shown at the bottom. By increasing the activity volume, we will be promoting not only secured finance, sales of loans, and underwriting bonds, but also ancillary transactions, including foreign exchange and derivatives, to aim at more than JPY 100 billion in revenue and combined ROE of 6.5% or more. Next, upper right of the page, the GCIB and the R&C segment. In this segment, we will aim at revenues of more than JPY 250 billion. First, upper right, our domestic customers are faced with new challenges and needs, such as diversified business risk, review of financial strategies, realignment of global networks, and response to green and digital. To address them, we will realign our organization with prioritized human resource allocation that will support enhancement of new business promotion and development of new products. By increasing our activity volume, we will provide support to customers' foreign subsidiaries, promote ESG-related derivatives, and provide solutions such as deal contingent hedges, and aim to grow our revenue from sales activities in Japan by 8% year-on-year. Furthermore, lower right, Japanese corporates in Asia, they are faced with new challenges and needs, such as realignment of Asian networks and challenges in transaction flows. We will respond by continuously considering Asia as the region of growth. We will improve efficiency of business infrastructure, as shown at the bottom, and by increasing the activity volume, we will be promoting various transactions such as ordinary foreign exchange, capital transaction-related foreign exchange, various local currency-denominated transactions to grow our revenue for business with Japanese corporates in Asia by more than 4% year-on-year. Please go to the next page. This slide shows our key strategy number two, treasury business based on the current market environment. On the left-hand side are the three characteristics of treasury operations of MUFG. The first one, as shown in the upper left, there are two existing treasury operations run by the bank and the trust bank, respectively. On top of that, there is the third operation, new investment business, which I will explain later. These three operations are leveraging their respective expertise and investment style. Second, middle box on the left, we are conducting the so-called ALM management that controls the overall balance sheet, covering not only the asset side items, such as investment securities, but liabilities side items as well. Every year, we're generating about JPY 200 billion-JPY 300 billion stably in treasury revenues. Third, by combining multiple highly liquid assets such as bonds and equities, both domestic and foreign, we are adopting a flexible approach to operating our position, as well as implementing dynamic portfolio allocation to adapt to the environment. Currently, especially given the rise in interest rates overseas, we have reduced risk to a historical low. Next, on the right-hand side, we talk about our current situation of treasury business and initiatives. First, our current unrealized gains or losses, especially with the rise in interest rates overseas, unrealized losses on foreign bonds are expanding, but at the same time, we maintain ample unrealized gains of JPY trillions on a total available-for-sale securities basis, including equities. In terms of treasury management overall, we don't see any problems at all. Furthermore, to control unrealized gains or losses arising from further rises in interest rates overseas, in addition to the flexible approach to operating our position, we will expand the target maturities of bear funds. By actively using hedging instruments of off-balance-sheet derivative transactions, including swaps, options, and futures, we will dispose of foreign bonds with unrealized losses corresponding to the unrealized gains of such hedge positions. With improvement of investment yield as a challenge in a rising rate environment in mind, we will move ahead with buying and reshuffling of higher-yielding bonds using the held-to-maturity bonds account. With the expansion of new investment business, we will secure and strengthen profitability. Through such control methods, we will prevent further deterioration of and make improvements of our foreign bond portfolio, and at the same time, secure treasury income. Please go to the next page. Lastly, with this slide, I will talk about our key strategy number three, challenges for new business areas. At the Global Markets Business Group, we are working on new businesses going beyond our existing domains. First is the new investment business. When we continue to have huge amounts of excess deposits on the entire balance sheet, we have embarked on long-term diversified portfolio management as our new investment business to secure new revenue sources, including in response to a rising rate environment and to enhance our competitiveness. As shown in the upper left, to contribute to sustainable and stable profits and to achieve an ROE of 8% over the mid to long term, already about 20 people from the bank and the trust bank have been brought to the holding company, as shown in the lower left, to fully leverage their respective expertise to further demonstrate synergy effects. As for the current progress, as shown in the upper right, in addition to traditional assets such as government bonds and public equities, credit spread instruments and alternative assets that have different risk-return profiles are starting to be incorporated into our portfolios. Based on the changes in the market environment, we're starting investments mainly in floating rate and highly rated instruments. ESG investing is also conducted to contribute to higher enterprise value of MUFG over the mid to long term. Furthermore, other challenges in new areas include, as shown in the lower right, we will be promoting new businesses such as the non-fungible token project in collaboration with Animoca Brands and carbon credit trading. Also, from the perspective of discovering new business, we will continue to hold Sandbox, our global markets digitally enabled business contest. From the perspective of inclusion and diversity, we will work on human resources development programs that facilitate women's advancement and a full-fledged operation of the program to transfer non-Japanese staff to head office in Japan. The three key strategies I discussed are all intended to respond to the dramatic structural change in the business environment. Change itself may not be controlled, but what we can do is to be at the forefront of that change. In other words, if you are not at the forefront of change, you will not be able to survive in the markets. With this in mind, we should positively regard the changes in the environment as our opportunity. We will stand at the forefront of change and raise the level of our sensitivity to change. We will manage our business anticipating the future, and we will have a strong determination to produce results. That concludes my presentation. I am Yasuda, Head of Asset Management and Investor Services Business Group. Let me share with you the progress of MTBP in AMIS Business Group and our key strategies in FY 2022. First is the progress of the MTBP. FY 2021 results are shown on the upper left with net operating profits of JPY 103.3 billion, an increase of JPY 23.4 billion from FY 2020, an expense ratio of 69%, down four percentage points year-on-year. The bottom left shows the changes in ROE. Net profits increased from an increase in balance and performance fees, thanks to the strong investment performance by our investment management subsidiary, FSI, in AM business, strong net inflows of funds at Mitsubishi UFJ Kokusai Asset Management, or MUKAM, the expansion of high-value-added services in the IS business and the resulting increase in AUA, as well as strengthening of sales and marketing capabilities in the pension business and the acquisition of new deals in the HR domain. ROE was 31%, up by 2.5 percentage points year-on-year, and exceeded our plan. Upper right shows the review of our strategic initiatives in FY 2021. FSI's new profit record in global AM and the expansion of high-value-added services and the synergistic increase in balance in global IS delivered great results in global AM and global IS, which are the pillars of our growth strategy. On the other hand, the trend toward lower rates of fees and commissions due to the shift to passive management, as well as interest rate rise, inflation, and other changes in the environment remain as challenges to be addressed. We will further enhance our products and services that meet client needs. I will explain our key strategies for AM, IS, ESG, and digital from the next page onward. Let me explain our AM business. While the industry continues to see a downward trend in the average rate of fees and commissions due to the shift to passive investment. The proportion of the balance of responsible investment in AUM is increasing against the backdrop of the recent focus on SDGs and ESG. Under such circumstances, our business group aims to generate sustainable profit for customers, employees, society, and shareholders from a medium to long-term perspective by promoting the development of highly specialized human resources, drawing on the knowledge of FSI, which has been an industry leader in this field for many years. Lower left shows our global achievements and future initiatives. FSI is making steady progress in its MTBP with many of its flagship funds, such as Asia Pacific and emerging countries stock-related funds, achieving high performance that exceeds the benchmark and a new profit record thanks to an increase in performance fees in addition to base fees from the growing AUM. We will continue making solid efforts to create further synergies, such as new product development, employing seed investment, and sales in each domain of MUFG, as well as continue to consider new investments aimed at strengthening our functions. Upper right shows our domestic achievements and future initiatives. MUKAM increased its market share to roughly 1.5 x by capturing individual customers' needs for recurring investment with its extensive lineup of no-load index funds centering on eMAXIS Series. In addition, inflows into overseas equity active funds centering on growth stocks helped us rise from fourth to second place in the industry in terms of publicly offered equity investment trust balance, excluding ETFs, thanks to a 12% CAGR on balance basis. In passive funds, we will further strengthen our branding with a tagline such as eMAXIS Series for asset formation, eMAXIS Series for recurring investment. In active funds, we will offer a variety of products such as value stocks, bonds, and REIT in response to changes in the investment environment due to rises in interest rates and inflation, among others. Let me move on to our IS business. Upper left shows our vision and business environment. Global alternative AUA is expected to grow strongly. In Japan, the balance of investment trusts under administration continues to grow at a high rate, thanks to the growing interest of individuals in asset management and the asset management needs of financial institutions and others due to the low interest rate environment. In such an environment, AMIS Business Group aims to become a global comprehensive service provider by comprehensively grasping customer needs, strengthening high value-added services such as fund financing and lending through MUFG's global network of offices, and providing bundled services with fund administration services. Lower left shows our global achievements and future initiatives. By steadily increasing the transaction volume of high value-added services such as fund financing, our AUA is outpacing the industry growth rate. Going forward, we will enhance the content of ESG-related services, expand the volume of lending transactions, and consider new investments aimed at strengthening our functions. Upper right shows our domestic achievements and future initiatives. The Master Trust Bank of Japan, or MTBJ, in charge of fund administration in Japan, is catching up with the industry leader in AUA by providing services in collaboration with overseas investor services companies of MUFG IS. We will continue to gain further customer support through the expansion of new services, such as building an asset management platform that can contribute to cost reduction and more sophisticated risk management for asset management firms by combining MTBJ's expertise in the outsourcing of middle and back-office operations with BlackRock Solutions' Aladdin, a comprehensive system for asset managers. Let me explain our ESG and digital strategies. As shown on the upper left, four companies, namely The Trust Bank, MUKAM, MU Investments, and Mitsubishi UFJ Asset Management (UK) Ltd., joined the Net Zero Asset Managers initiative for responsible investment in November last year. We will aim to achieve net zero financed emissions by 2050 and plan to disclose our interim targets in October 2022. The lower left shows our initiatives for responsible investment. The Trust Bank and FSI participated in RI Japan, an industry event to promote responsible investment as joint lead sponsor. First Sentier MUFG Sustainable Investment Institute, launched last year, is working to promote and expand responsible investment as a frontrunner in the industry by combining the knowledge of The Trust Bank, FSI, and outside experts, and widely publishing research reports that contribute to sustainable investment. As a result of these efforts, we have earned a high reputation in the industry, including a number of awards related to responsible investment for the funds we manage. Upper right shows our retiree support services. In the pension business, we began offering a retiree support service to support our corporate customers in utilizing their human capital by leveraging our know-how accumulated over many years in pension plan administration and HR consulting to respond to retirees' inquiries and undertake administrative procedures on their behalf. Along with existing services such as pension plan administration, we will make further efforts to address issues of aging population and low birth rate and promote work style reforms. Lower right is D-Canvas, a defined contribution pension app. The DC industry balance is growing at 13% CAGR, driven by growing asset formation needs. Against such backdrop, we released the DC app, D-Canvas, in June last year to meet the needs of customers who feel that the product selection process is too complicated and want to check their DC balance more easily. The app has been downloaded over 200,000 x, and the user experience has improved with three easys as the keyword, easy login with biometric authentication, easy checking of DC balance, and easy management with the app's support functions. We will further deepen the UI/UX and contribute to the expansion in the scope of DC enrollment, thereby encouraging the shift from saving to asset building. That concludes my explanation on AM & IS, ESG, and digital. Despite a difficult environment with rapid changes, we will seize the growth opportunities more than ever with flexible management. Thank you very much.