Hello, everyone. This is Yoshida from Daiwa Securities Group Inc. Thank you very much for taking time out of your busy schedules to join our telephone conference today. Today, I would like to review our second quarter financial results for FY 2026, announced earlier today, following the presentation deck available on our corporate website. Please turn to page four. First, I will summarize our consolidated financial results. Percentage changes are compared to the previous quarter of FY 2026. Net operating revenues were JPY 223.9 billion, up 1.6%. Ordinary income was JPY 78.2 billion, down 11.2%. Profit attributable to owners of parent was JPY 51.4 billion, down 8.8%. Annualized ROE stood at 11.3%. During the second quarter, despite headwinds from market conditions, we steadily accumulated stable earnings, underpinned by stock-based recurring revenue assets. Wealth Management Division at Daiwa Securities, fund wrap services, and equity investment trusts continue to see capital inflows, driving asset-based revenues to a record high of JPY 38.3 billion. Asset Management Division sustained fund inflows and lifted AUM to a record high. However, ordinary income declined, mainly due to lower capital gains and alternative asset management. As for Global Markets, it solidly captured domestic and overseas client flows, though profit decreased due to lower revenues in overseas FICC. Global Investment Banking achieved profit growth, driven by debt underwriting and domestic M&A. The interim dividend is set at a record high of JPY 39 per share, representing a dividend payout ratio of 50.3%. Please turn to page eight. Base profit, our KPI for stable earnings, as set out in the Medium-Term Management Plan, reached JPY 62.3 billion, up 41.9% year-on-year. Base profit remained on par with the previous quarter. On a cumulative basis for the first half, it totaled JPY 125.2 billion, reached over 80% of our Medium-Term Management Plan target of JPY 150 billion. Please turn to page 11. I will now explain our consolidated statement of income. Commissions received totaled JPY 137.7 billion, minus 4.0%. The breakdown of commissions received is detailed on page 25. Brokerage commission was JPY 26.4 billion, down 24.4%. Underwriting and secondary offering commission was JPY 11.7 billion, down 31.2%. Distribution commission was JPY 7.7 billion, down 16.4%. M&A-related commissions, JPY 15.1 billion, up 20.5%. Please turn to page 12. SG&A expenses were JPY 152.9 billion, up 7.1%. This increase was primarily due to the consolidation of ORIX Bank, which resulted in higher trading-related expenses, personnel expenses, office costs, and depreciation. Please turn to page 14. Total ordinary income from overseas operation was JPY 7.6 billion, down 44.6%. However, it reached JPY 20.4 billion for the first half, marking an all-time semi-annual high. By region, Europe returned to profitability. Asia and Oceania posted lower profits, reflecting declines in equity revenue and equity method investment income compared to the strong first quarter. Americas recorded lower profits due to the reduced revenue in FICC. Next, I will review performance by segment. Please turn to page 15. First, the Wealth Management Division. Net operating revenues were JPY 99.2 billion, up 12.5%. Ordinary income was JPY 39.7 billion, up 6.6%. Capital inflows from clients continued on the back of progress in total asset consulting, leading to an accumulation of asset balances, primarily in equity investment trusts and fund wrap services. While flow-based revenues declined due to the market volatility, asset-based revenues expanded steadily. By product, equities revenues declined by JPY 6.2 billion, reflecting a decrease in equity trading for both domestic and foreign equities compared to Q1. Fixed income captured investment demand amidst rising interest rates, maintaining solid revenue levels. Wrap-related revenues met client needs for stable management and portfolio diversification, increased by JPY 1.6 billion- JPY 20.8 billion, setting a new all-time high. Asset-based revenues set a record high of JPY 38.3 billion, driven by ongoing net inflows into equity investment trusts and fund wraps. The fixed cost coverage ratio of asset-based revenues in the Wealth Management Division rose to 128.4%, and the total cost coverage ratio increased to 82.1%. Net asset inflows totaled JPY 312.6 billion. The individual segment maintained net inflows for the 11th consecutive quarters, with new fund flows consistently originating from yen time deposits, in addition to equity investment trusts and fund wrap services. Please refer to pages 28 and 29 for detailed figures. Please turn to page 16. This slide presents sales and distribution amount by product in the domestic Wealth Management Division. Wrap account services, the contract value was JPY 418.2 billion, and net increase was JPY 294.6 billion, both reaching record quarterly highs. Contract AUM climbed to an all-time high of JPY 6,946.9 billion. Equity investment trust sales volume was JPY 502.7 billion. With redemption remaining low, the net increased at a high level of JPY 165 billion. For wrap services and equity investment trust reached JPY 459.6 billion, marking an all-time quarterly high. Please turn to page 17. This slide shows the result of Daiwa Next Bank. Net interest income, et cetera, came to JPY 13.4 billion, up 3%, and ordinary income was JPY 7.8 billion, up 8.5%, both record highs. Deposit balances declined from the end of the previous quarter, as growth in time deposit driven by our promotional campaign was more than offset by increased transfers of funds into security investments and withdrawals of maturity proceeds. Please turn to page 18. This slide shows the results of ORIX Bank, which we began consolidating this quarter. On a standalone basis, ORIX Bank posted ordinary revenues of JPY 24.1 billion, up 8.5%, and ordinary income of JPY 8.3 billion, up 20.5%. Its contribution to the consolidated ordinary income of the Wealth Management Division was JPY 6.7 billion after deducting amortization of goodwill. The loan balance was flat compared with the end of the previous quarter, as an increase in investment property loans and other loans was offset by a decrease in corporate loans. Please turn to page 19. I will now explain the Asset Management Division. First, securities asset management. Net operating revenues were JPY 22.9 billion, up 7.9%, and ordinary income was JPY 12.8 billion, down 18.3%. While revenues increased on the back of higher AUM during the period, profit declined due in part to valuation losses recorded on certain assets. The AUM in publicly offered investment trust at Daiwa Asset Management surpassed JPY 44 trillion, reaching a record high. Please turn to page 20. Next, real estate asset management. Net operating revenues were JPY 12 billion, down 9.7%, and ordinary income was JPY 9.8 billion, down 0.3%. AUM reached a new record high, reflecting the steady accumulation of assets. Ordinary income was broadly in line with the previous quarter, supported by stable AUM-linked revenues and gains on property sales at Daiwa Securities Realty and Samty. Please turn to page 21. Next, alternative asset management. Net operating revenues were JPY 3 billion, and ordinary income was JPY 1.2 billion. Capital gains declined due to lower gains realized from investment exits. In addition, Daiwa Energy & Infrastructure recorded losses on renewable energy-related investments. Please turn to page 22. Finally, the Global Markets and Investment Banking Division. First, Global Markets posted net operating revenues of JPY 45.7 billion, down 15.1%, and ordinary income was JPY 11.1 billion, down 38.6%. In equity, while trading value in stock market declined globally, we steadily captured institutional investor flows, and performance remained solid. In equity derivatives, despite the lower volatility, we captured client demand, and both the number and the value of new trades increased. In FICC, domestic business remained solid as we steadily captured client flows, mainly in Japanese bonds and derivatives, even amid rising interest rates. Overseas, however, client flows decreased due to rising U.S. interest rates and challenging portfolio management. Please turn to page 23. Global Investment Banking posted net operating revenues of JPY 23.4 billion, up 3.4%, and ordinary income of JPY 4 billion, up 22.7%. Higher revenues from debt underwriting and the domestic M&A contributed. This concludes my explanation of our financial results for the second quarter of FY 2026. Let me make some closing remarks. In the second quarter, the steady accumulation of stable asset-based income supported overall results, enabling us to secure an annualized ROE of 11.3%. With markets partially correcting amid uncertainty about the outlook, flow-related revenues declined, and ordinary income was JPY 78.2 billion, down 11.2% from the previous quarter. At the same time, we believe this quarter demonstrated that our earnings foundation remains solid, as reflected in our Base Income level, even as tailwinds from an external environment temporarily weakened. Asset inflows from clients continue at a high level. Net sales, that is net inflows of equity investment trusts and wrap account services, reached a record high for a quarter. Although client activity declined due to factors such as correction in the theme stocks and the rising interest rates, we view it as a significant achievement that our net inflows, which are the most important factor in growing our customers' assets over the medium to long term, reached a record high. Turning to the current situation, even as market conditions fluctuate, we sense that client demand for medium to long-term asset building and diversified investment remains strong. Since the start of October, Wealth Management has continued to perform well. Meanwhile, Global Markets has been affected by market conditions and is slower than in the second quarter. Global Investment Banking, we are steadily building our deal pipeline. In addition, ORIX Bank became a wholly owned subsidiary of Daiwa Next Bank on August 3rd and has been consolidated since the second quarter. The addition of lending capabilities will diversify our revenue sources and broaden the range of solutions we can offer to meet client needs. Going forward, with Wealth Management as the core of the group's growth, we will achieve profit growth by deepening and extending our relationships with our clients. We will also work to further expand Asset Management AUM and to create business opportunities as primary and secondary markets become more active. We'd like to ask for your continued support. This concludes my presentation. Thank you so much.