Good afternoon, everyone. I am Takeyuki Kijima, Executive Manager of Investor Relations at Mitsui Fudosan. I will explain in detail the Mitsui Fudosan Group's results for the first quarter of the fiscal year ending March 2026. As usual, I will use the financial results and business highlights materials dated August 5th, which are available on our website. Let's get started. From this quarter, we have added a new page with the key takeaways from the overall results at the beginning of the presentation on page 3. As I will cover the earnings results as shown in the upper part of the page in detail, I will skip the table on this page and highlight the key takeaways on corporate governance, which are shown below. A new female internal director was appointed at the ordinary general meeting of shareholders. To date, we have had outside directors who were women, but this time we have added the first female director from within the company. The addition of this individual to the board will raise the percentage of women on the board of directors by 8% from the previous 15% - 23%, enhancing the diversity of the board's composition. In addition, shareholders also approved an amendment to the compensation system. The resolution was to revise the method of providing equity compensation, but at the same time, we also reviewed the calculation formula to ensure its alignment with the major KPIs set out in the Group Long-Term Vision & Innovation 2030, such as ROE, EPS, Net Income, and Business Income. The amended formula has been disclosed. Please see pages 54 and 55 for more information on this subject. I will now begin with an overview of the first quarter fiscal 2025 results. As usual, I will use the financial highlights page. Please turn to page 4 of the presentation. As shown in the table on the upper part of the page, Mitsui Fudosan's first quarter results for operating revenue, operating income, business income, ordinary income, and profit attributable to owners of parent all reached new record highs for the first quarter, with year-on-year gains in revenues and all levels of profit. Also, business income for each of the four core segments hit new record highs for the first quarter as well. We show the progress rate on business income for each segment versus the full-year plan on the lower part of the page. With the property sales segment at 65.6%, leasing at 26.2%, and facilities operation at 32%, we are making solid progress. The progress rate for these core segments was above 25%. Relative to our full-year forecast, which represents new record highs, progress in the first quarter was favorable, resulting in business income at 44.2% and net profit attributable to owners of parent at 47.8%. I will now explain the results in more detail. Please turn to page 61 of the presentation. I will start with the consolidated profit and loss statement. First quarter fiscal 2025 operating revenue was JPY 802.3 billion, up JPY 171.9 billion, or 27.3% year-on-year. Business income, which is the combination of operating income and gains and losses on the disposal of tangible assets and equity method investments, was JPY 187.7 billion, up JPY 82.9 billion, or 79.2% year-on-year. Ordinary income was JPY 144 billion, up JPY 53.8 billion, or 59.7% year-on-year. Profit attributable to owners of parent was JPY 124.2 billion, up JPY 59.2 billion, or 91.1% year-on-year. On the right, we show the progress rate relative to our full-year forecast in the box titled "Progress Comparison with Full-Year Forecast." Operating revenue was 29.7%, business income 44.2%, ordinary income 50.5%, and profit attributable to owners of parent 47.8%. These figures should give you a sense for the rapid pace of profit generation this fiscal year. Next, before commenting on the details of the individual segments, please return to the table on the left. I will touch upon the major items below the line. I will start with non-operating income and expenses. Equity and net income or loss of affiliated companies fell JPY 2.2 billion year-on-year as a result of increased expenses and other factors owing to opening expenses related to the completion of rental properties in the U.S. in the previous fiscal year. However, the net interest burden fell JPY 0.5 billion year-on-year, chiefly due to the impact of the lowering of rates in the U.S. and U.K. Factoring in declines in dividends received and net other non-operating income and expenses, overall non-operating income and expenses declined JPY 4.9 billion year-on-year. Next, I will discuss extraordinary gains and losses. As shown in the table titled "Extraordinary Gains and Losses" on the upper right, Mitsui Fudosan posted JPY 7.8 billion in extraordinary profits in the first quarter from gains on sales of investment securities. This reflects the policy on strategic equity holdings outlined in the Group's Long-Term Vision & Innovation 2030. On an ongoing basis, we are selling down a portion of the equities that we hold. In addition, we also reported JPY 26.4 billion in gains on the sale of tangible assets. In line with our stated policy under & Innovation 2030 of making no distinction between tangible, fixed assets, and real property for sale in considering asset sales, we sold properties including the Otemachi Building, Nagoya Station Front. There were no extraordinary losses reported in the first quarter. I will now cover the segment results in more detail. I will start with the leasing segment. Please turn to page 63. As shown at the top of the page, first quarter operating revenues were JPY 226 billion and business income JPY 45.7 billion. This represents an JPY 18.9 billion increase in revenue and a JPY 1.2 billion increase in profits year-on-year. In the comment section on the left, we describe recent conditions for the leasing segment. In the first quarter, on the back of revenue and profit growth at domestic and overseas office properties, such as Tokyo Midtown Yaesu and 50 Hudson Yards in New York, the overall segment achieved year-on-year increases in both revenues and profits. We show the office vacancy rate in the box in the middle of the page. On the back of progress on corporate tenants moving in, Mitsui Fudosan's non-consolidated metropolitan area office vacancy rate as of the end of June was 1.1%, remaining at low levels and largely unchanged from the 1.3% as of the end of fiscal 2024. Our initial fiscal year-end guidance for a vacancy rate of around the 2% level also remains unchanged. Next is the property sales segment. Please turn to page 64. As shown at the top of the page, for the overall property sales segment in the first quarter, revenue was JPY 331.7 billion and business income was JPY 124.7 billion. On a year-on-year basis, revenues and profits rose JPY 140 billion and JPY 76 billion, respectively. On the subsegments, I will start with property sales to domestic individuals. Operating revenue was JPY 241 billion and operating income was JPY 85.6 billion. This represents year-on-year increases of JPY 75.6 billion and JPY 44.1 billion, respectively. As stated in the comment section on the left, this mainly reflects progress on handovers at properties such as Mita Garden Hills and Park City Takadanobaba. As of the end of June, the progress rate for contracts relative to the 2,800 new domestic condominium units we expect to report for the full fiscal year has risen to 93.3%. The number of units booked is shown in the middle of the table. The combined units for condominiums and detached housing were 1,150 as of the first quarter, down 618 units year-on-year. However, the average unit price for condominiums and detached housing exceeded JPY 200 million, hitting a new record high. Although not shown on the slide, the OPM for the overall property sales to domestic individuals subsegment was 36% in the first quarter, well in excess of the full-year guidance of 25%. This is the result of a heavy skewing of handovers to high-margin properties in the first quarter. We expect the margin to gradually converge on the full-year forecast level as the fiscal year progresses. We note that near-term selling conditions are strong and unchanged. Completed inventory at the end of the first quarter, as shown in the table on the lower part of the page, was 30 units for condominiums and 23 units for detached housing, for a total of only 53 units. Inventory levels remain at historically low levels. Next, for the property sales to investors and overseas individuals subsegment, which includes gains and losses on both sales of tangible assets and equity method investments, please revert to the top of the page. Operating revenue was JPY 90.6 billion, up JPY 64.3 billion year-on-year. Business income was the combination of JPY 12.1 billion in operating income from property sales to investors and JPY 26.9 billion in combined gains and losses on equity method investments and the sale of tangible assets, for a total of JPY 39 billion, representing a JPY 31.9 billion year-on-year increase in profits. This was the result of the sale of two MFLP properties, in addition to the sale of tangible asset Otemachi Building, Nagoya Station Front. The contract rate, based on profits relative to the full-year forecast, is at around 80%, a faster-than-typical pace, but this is related to the timing of sales, which is determined through negotiations with each counterparty for each individual property. We will focus on steadily building up profits over the year by solidly advancing handovers. Next, the management segment. Please turn to page 65. Please see the top row of the table. For the management segment as a whole, first quarter operating revenues were JPY 120.1 billion and business income was JPY 17.4 billion, for year-on-year gains of JPY 5 billion and JPY 2.3 billion, respectively. I will now discuss conditions for the individual subsegments within this segment. First is the property management subsegment. Operating revenue was JPY 89 billion and business income JPY 8.8 billion, for year-on-year gains of JPY 1.5 billion and JPY 0.1 billion, respectively. The key factors were an increase in users of the car share service and the impact of price hikes for parking in the RePark Car Park service. Next is the brokerage and asset management subsegment. Operating revenues were JPY 31 billion and business income was JPY 8.6 billion, for year-on-year gains of JPY 3.5 billion and JPY 2.2 billion, respectively. The key factors were increases in large-scale corporate brokerage transactions and higher transaction unit prices in the retail brokerage business. Next is the facility operations segment. Please turn to page 66. Overall, facility operations reported first quarter operating revenues of JPY 62.7 billion and business income of JPY 14.4 billion. This represents a year-on-year improvement of JPY 7 billion in revenues and a JPY 3.1 billion increase in profits. The key factors, as outlined in the comment section on the left, were significant increases in ADRs in the hotel and resorts business and the upward revision of usage fees for Tokyo Dome. Looking at the individual subsegments, operating revenues for hotels and resorts were JPY 45 billion, up JPY 5.1 billion year-on-year. The sports and entertainment business, consisting primarily of the Tokyo Dome business, generated operating revenue of JPY 17.7 billion, up JPY 1.8 billion year-on-year. As you can see, both subsegments reported year-on-year top-line growth. Next is the other segment. Please turn to page 67. Overall, the other segment reported first quarter operating revenues of JPY 61.5 billion and business income of JPY 0.05 billion. The improved number of reported properties for Mitsui Homes' new construction under consignment business boosted revenues by JPY 0.9 billion year-on-year and profits by JPY 0.6 billion. By nature, revenues and profits for the new construction under consignment business, which accounts for the majority of the other segment, tend to skew heavily to the end of the fiscal year. As such, while reported business income as of the first quarter is limited, we expect to see a step up on profit generation into the second half. Next, for reference, we show figures for the overseas business. Please turn to page 68. Overall combined overseas business income for the first quarter was JPY 12.5 billion, down JPY 0.3 billion year-on-year. Please note there is a three-month lag in reflecting overseas profits. The figures included in first quarter earnings reflect the results of the overseas business for the period of January to March 2025. Within overseas profits, the leasing segment reported a JPY 4.8 billion year-on-year increase in operating revenues and a JPY 0.6 billion increase in profits on the back of growth in office revenues and profits from properties such as 50 Hudson Yards. In the property sales segment, while we made progress on selling properties, a high base for comparison on the back of strong profits at Asian equity method affiliates in the previous fiscal year led to a JPY 37.1 billion increase in revenues, but a JPY 1.1 billion decline in profits. The combination of management and other segments reported year-on-year gains of JPY 0.6 billion in revenues and JPY 0.1 billion in profits, supported by improvements in occupancy rates and ADR at the Halekulani Hotel in Hawaii. As a result of the above, first quarter overseas business income accounted for 6.7% of the overall total. Next, I will talk about the balance sheet. Please turn to page 69. As shown at the bottom of the page on the left, total assets as of the end of the first quarter were JPY 9,749.8 billion, down JPY 109.9 billion versus the end of the previous fiscal year. Of the year-on-year change, changes in forex rates accounted for a JPY -164.5 billion. I will now discuss the major components of change, such as investment and cost recovery. Please turn to page 70. As shown in the table on the upper left, the total outstanding balance of real property for sale was JPY 2,377.9 billion, down JPY 122.8 billion from the end of the previous fiscal year. New investments were JPY 132.3 billion, cost recovery was JPY 220.4 billion, and other, which includes elements such as forex impact, was a JPY -34.6 billion. As you can see in the breakdown by company, Mitsui Fudosan Residential achieved a net cost recovery of JPY 85.4 billion, mainly due to progress on sales at properties such as Mita Garden Hills. While Mitsui Fudosan made progress on property sales by selling two MFLPs, progress on investments for existing properties resulted in a net increase in investments of JPY 15.7 billion. Mitsui Fudosan America reported a net increase in cost recovery of JPY 65.1 billion as a result of forex effects on the back of a stronger yen. Mitsui Fudosan U.K. reported a net increase in investments of JPY 10 billion on progress on investment projects. Next, looking at the lower left, the outstanding balance of tangible and intangible assets was JPY 4,616.6 billion, down JPY 90.7 billion versus the previous fiscal year end. New investments, including construction investments in projects such as Mitsui Outlet Park Kisarazu, were JPY 40.9 billion, while depreciation was JPY 36.4 billion. Factoring in the impact of the sale of Otemachi Building, Nagoya Station Front, and forex effects, as described in the comment on the lower right, other declined JPY 95.2 billion, resulting in a net drop in tangible and intangible assets of JPY 90.7 billion relative to the end of the previous fiscal year. On the liability side, please see the table on the upper right. The outstanding balance of interest-bearing debt as of the end of the first quarter was JPY 4,523.9 billion, up JPY 107.8 billion from the end of the previous fiscal year. This reflects the impact of factors such as payments for the acquisition of domestic and overseas properties, construction-related expenditures, corporate taxes, and dividends. Going back to page 69, as a result of the above, the D/E ratio as of the first quarter was 1.41 x, and the equity ratio was 32.9%, as shown on the lower right. The Mitsui Fudosan Group as a whole will continue to monitor domestic and overseas financial and real estate market trends, while firmly focusing on achieving the business income and net profit targets for this fiscal year and the achievement of the KPIs set out in the & Innovation 2030. This completes my presentation.