Thank you very much for your joining us today, and thank you very much for your wait. This is Mitsui O.S.K. Lines' fiscal year 2021 Q3 financial results reporting. My name is Keiichiro Nakanishi, General Manager of Corporate Communication Division. Let me express our gratitude for your support here. Once again, I'd like to introduce today's presenter first. It will be Umemura, our Executive Officer CFO. As for today's agenda, the first half will be the financial results reporting of the Q3 coming from Umemura using the presentation material and the second half Q&A session. It can go as long as 45 minutes, the Q&A. We're scheduled to end by 3:30 P.M. JST. Now, I hand over to our CFO, Umemura. Hello, this is Umemura, CFO. Today I'd like to share to you our Q3 financial results and the revised forecast numbers for the full year. In our fiscal year 2021 Q3, we achieved ordinary profit of JPY 487.6 billion, a significant increase of more than JPY 400 billion compared to the same period last year. As for the full year forecast, freight rates in the container ship business remained at a high level against the backdrop of a strong transport demand and the supply side constraints due to ongoing supply chain disruptions. Outside of container ship business, the dry bulk business too is expected to perform well for the first time since 2010. With these circumstances, we have revised upward our ordinary profit forecast from JPY 480 billion, announced back at the end of last October, to JPY 650 billion. Please find the outline and explanations on page 3 and 5 of the business performance results, the blue presentation, the provided document. Revenue increased by JPY 196.8 billion year-on-year. In addition to favorable market conditions for dry bulk carrier services, well, this was due to a recovery in the transport volume of car carriers and the cargo volume in terminals and a logistics business. Business profit, which is calculated by adding operating profit and equity in earnings of affiliate to show the company's earning capability, and ordinary profit both rose sharply year-on-year, respectively by JPY 410.9 billion and JPY 414.7 billion. The increase in profit was due to significant positive impact given by the following three: one, as I said earlier, the continued strong demand for cargo transport and the ongoing rise of short-term freight rates connected to supply side constraints. The second, favorable market conditions for dry bulk carrier business. And the third, improved profitability in car carrier business due to a recovery in the number of units transported from the same period of the previous year, which had a significant impact of COVID. I will now explain the financial results by segment. Please refer to page 4 and the middle part of page 5. First, the dry bulk business. Dry bulk business significantly improved its profitability from the same period last year and achieved ordinary profit of JPY 31.9 billion. The next section is the situation of each segment with the detailed numbers. Starting with the iron ore and coal carriers, Capesize bulkers. Profit rose sharply here year-on-year as a result of stable revenues from medium to long-term contracts and a high level of market conditions against the backdrop of generally strong demand for the transport of steel, raw materials and restrictions on the supply of shipping capacity due to a decline in port operations caused by COVID-19 impact. The average time charter rate of nine months as of 11 March was $37,000 this year, compared to $14,500 for the previous year, a much higher number. Small and medium-sized bulkers operated by MOL DryBulk posted an increase in profits over the same period of previous year due to strong transport demand for grains, coal and other commodities, mainly to China, and a favorable market conditions caused by restrictions on the supply side of shipping capacity due to the COVID-19 measures, as was the case with steel raw materials carriers. The woodchip carrier business also improved and remained profitable due to the synergistic effects of a recovery in transport demand and favorable market conditions for general bulk carriers improving profitability. Open hatch bulker business operated by Gearbulk and equity method affiliate improved profitability and secured a profit thanks to a recovery in cargo movements of pulp and paper coming from South America. Their primary cargo on outbound routes, as well as improved profitability on inbound routes, which were favorably affected by market conditions and cargo movements of general bulkers, all contributed to the business remaining profitable. Next is energy and offshore business. The energy and offshore business secured stable profits mainly from medium to long-term contracts centered around the LNG and offshore business. While ordinary profit was JPY 18.2 billion, falling JPY 8.3 billion year-on-year, mainly due to the sluggish spot market for oil tankers. Each sub-segment will be explained now. Tanker. First, tankers. The market for crude oil tankers was sluggish, with first, the decline in oil demand due to stagnant global economic activity because of COVID-19. Second, the continued coordinated production cuts by oil-producing countries, hampering the recovery of crude oil transportation demand. Although we steadily secured profits from medium- to long-term contracts, which account for the majority of our crude oil tanker fleet, profits have decreased compared to the same period of a previous year, which saw a period of high market prices in fiscal year 2020 early spring. As for other than crude oil, LPG tankers and methanol carriers, which are mainly operated under medium- to long-term contracts, continued to generate a steady profit. On the other hand, profit in the product tankers and the chemical tankers deteriorated due to weak demand for transportation of petroleum products and chemicals. Next is LNG carrier offshore business. Most of our LNG carriers are engaged in medium to long-term contracts, and we secure stable profits. One LNG bunkering vessel was delivered in the Q3 and has been deployed in the bunkering business based in the south of France, Marseille. In the offshore business, FPSO operated smoothly and secured stable profits, but less year-on-year with the one existing FSRU terminated its contract in Turkey, and a project in Hong Kong will not start until the next fiscal year. Although a new one FSRU was deployed for a power generation vessel in Senegal. Next is the product transport business, which had a significant profit increase this quarter. The product transport business reported ordinary profit increase of JPY 390 billion compared with the same period a year earlier. First, container ship business. The container ship business, as you know, is divided into the business at ONE, which is an equity method affiliate, and our terminals and logistics business, among others. For details of ONE, please refer to page 3 of the magenta colored disclosure material. As I stated at the top there, we achieved a profit of $4.889 billion in the Q3, a significant improvement over the same period last year due to higher freight rates. The following three are the reasons. First, the continued strong demand for freight despite the seasonal factors. Second, the supply constraints due to continued disruptions in the overall supply chain. Third, the further rise of short-term freight rates from the Q2 because of the first and the second reasons and were higher than expected. As shown in the waterfall chart at the bottom of the slide, the increase in freight rates was the main factor behind the increase in profit. On the other hand, operating costs and variable costs have risen due to increased speed of ships to maintain schedules and additional costs spent to reduce the impact of congestion at ports and inland areas, hence diminishing our profit. Would love you to read the details on this page later on when you have time. On page 5 of the ONE material, there is a summary of information on the supply chain disruptions and countermeasures. As I have mentioned a couple of times, the strong demand for cargo, the shortage of truck drivers and other workers, and the restrictions associated with the COVID-19 are worsening congestion in ports and inland areas worldwide. As mentioned in the middle of the slide, we are taking various measures to minimize the impact. However, unfortunately, measures taken by our company only have not been able to resolve the situation completely. That is the current status. Please return to page six of our blue document. In addition to the container ship business, the terminals and logistics business saw an increase in profits due to a recovery in the volume of cargo handled in both terminals and logistics. As a result, the company's container ship business as a whole posted a significantly greater ordinary profit of JPY 425.1 billion. Car carrier. In the car carrier business, cargo movements recovered significantly, mainly in the first half of the fiscal year from the same period of the previous year when the number of shipments declined significantly due to COVID-19. Although there were some effects of shortage of semiconductors and parts, we secured the same level of transportation volume as expected at the beginning of the fiscal year by capturing demand for transportation of used cars from China and India, where shipping demand was strong, and also from Japan. In addition, due to the adjustment of shipping capacity during the first half of the previous fiscal year, there was no surplus in the supply and the demand of shipping capacity in our car carrier fleet. As a result, the car carrier business turned around from a loss in the same period of the previous year and secured a profit this quarter. As for ferries and coastal Ro-Ro ships, while cargo transport demand was strong, profit deteriorated, reflecting a decrease in the demand for passenger services due to COVID-19 and because of the higher bunker price we observed connected to the price increase of crude oil. Associated businesses. The real estate business mainly operated by Daibiru secured stable profit. The cruise ship, on the other hand, the business resumed their cruises from autumn onwards, but continued to be unable to reach full-scale operation and profits deteriorated. Up to here was an overview of the Q3 results. Next, let me continue to explain our full year earnings forecast for fiscal year 2021. Please refer to pages 7 and 9 of the presentation. First, revenue is expected to amount to JPY 1.26 trillion, an upward revision of JPY 40 billion from the previous forecast announced at the end of October. The main reason for this upward was an increase in the handling and the cargo volume in the product transport business, terminals and logistics and car carrier. Business profit and ordinary profit are revised upward from their previous forecasts to JPY 630 billion and JPY 650 billion respectively. In the container ship business, we expect a decline in cargo volume due to seasonal factors, such as weaker cargo movements, mainly after the Chinese New Year and continued supply chain disruptions. We expect a limited decline in freight rates and hence the upward revision of the full year forecast. In addition, we have revised upward our full year forecasts for dry bulk carriers and car carriers based on their upturns in Q3 results. I will now explain the forecast by segment. Dry bulk business. The dry bulk business ordinary profit has been revised upward by JPY 3 billion from the previous forecast of October, and is expected to achieve a full year ordinary profit of JPY 42 billion. First of all, for the iron ore and coal carriers Capesize bulkers, we have revised downward our market assumptions for the Q4 from the previously announced $23,000 to $15,000 in light of the recent softening of the market and a decrease in shipments from iron ore producing Brazil and Australia due to the start of the rainy season. The number of vessels for which contracts are yet to be finalized towards the end of the fiscal year is small, so the impact on business results will be limited. Next, the market assumptions for small and medium-sized bulkers operated by MOL Drybulk are revised downward, as are those for Capesize bulkers, but the impact on earnings is limited. The woodchip carrier business is, as explained earlier, expected to return to profitability as a result of a recovery in transportation demand and the following improvement in our freight rates. Energy and marine businesses, offshore businesses. Next, the energy and offshore business forecast has been revised upward by JPY 1.5 billion from the previously announced forecast to a full year forecast of a JPY 23 billion ordinary profit. The reason for the revision is mainly the changes in the recording of expenses associated with the changes in the timing of dry dock. The segment as a whole continues to post stable profits with the long-term contracts as its foundation. Tankers. In the crude oil tanker business, market conditions were originally expected to improve in the Q4 due to increased demand for crude oil caused by seasonal factors. Unfortunately, the sluggish condition is continuing. However, the impact on the business outlook would be limited because we have the long-term contracts-based foundation. LPG and methanol carriers, which mainly operate under medium to long-term contracts, are expected to post stable profits on par with the previous fiscal year. LNG carrier and offshore business. Although the number of LNG carriers completed this fiscal year would be limited, with one LNG carrier in the first half and one LNG bunkering vessel in the Q3, we expect to steadily build up stable profit together with the five vessels completed in the previous fiscal year. In the offshore business, one FSRU and one FPSO will be newly put into long-term contracts and together with a stable revenue base backed by long-term contracts, we expect profits to be on par with the previous year. Next is the product transport business. Container ship business has been revised upward by JPY 160 billion from the previous October announcement, and the full year ordinary profit forecast is now JPY 570 billion. First of all, At ONE, in addition to the upturn in the Q3, we expect a decrease in cargo volume in the Q4 due to a drop in a transportation demand caused by the Chinese New Year and a supply side constraints resulting from the ongoing supply chain disruptions. However, we expect that the decline in the freight rates will be limited, and we have revised upward our full year forecast. For more details on ONE's forecast figures, please refer to page 6 of the company's magenta colored document. Pre-tax profit for the Q4 is expected to be $3.75 billion, of which we have included our 31% stake as equity in earnings of affiliates in our full year forecast. Again, please go back to page 10 of our financial results presentation, the blue one. In the terminals and logistics segment, which is included in the container ship business, the forecast has been revised, as I've been saying, upward from the previous announcement, and profit is expected to increase compared to the previous year due to an increase in the volume of containers, automobiles, and air cargo handled or cargo volume in line with the favorable cargo movements. Car carrier business. Although there are concerns about the impact of the shortage of semiconductors and the reemergence of COVID-19 impact on shipments, including of parts, we anticipate that the recovery trend and transport volume will continue in the Q4. The forecast has been revised upward compared to the previous announcement, and an increase in profit is expected due to the effects of the ship reduction and the improved operational efficiency implemented in the previous fiscal year. Now, ferries and domestic RoRo vessels. These two, as explained in the Q3 section, while cargo transport demand is expected to be firm, there is concern about the impact of COVID-19 on passenger demand. However, its impact on the full year forecast is expected to be within a limited range, and there is no change in the forecast from the previous announcement. As a result of all above, the product transport business as a whole is expected to post a full year ordinary profit of JPY 578 billion, an upward revision of JPY 164 billion from the previous announcement due to the substantial upward revision of the forecast in the container ship business, including terminals and logistics and the improvement of earnings in the car carrier business. Among the associated businesses, the real estate business is expected to continue to make a stable contribution to profits. The cruise ship business has resumed cruise operations since late last September, and we did see some recovery in bookings before the recent reemergence of the pandemic. Now again, because of its resurgence, some of the cruises are canceled. The associated business segment as a whole is expected to post ordinary profit JPY 8 billion for the full year, an increase of JPY 500 million from the previous forecast. In accordance with the upward revision of the financial forecasts for the fiscal year, we have revised the planned year-end dividend from JPY 500 to JPY 750, which together with the interim dividend of JPY 300, will give a full year dividend of JPY 1,050 per share. As for the dividend payout ratio, we will maintain our policy of setting it at 20% for the current fiscal year as announced at the beginning of it. Before moving on to the Q&A session, I'd like to make some supplemental announcement for the reference materials. Slide 11 of this blue document shows the status of initiatives and progress in the current fiscal year, which includes major initiatives disclosed to the public since April. The background is color-coded according to the ESG theme. Green is environment-related, pink is society-related, and blue is company-wide or governance-related. This slide on page 12 is an excerpt from the recent press releases we issued on the conversion of two group companies into a wholly owned subsidiary of ours at the time of their commencement of the tender offer. This is highlighting the objectives we have in these initiatives as your reference. I hope this will be a good use to you too. This concludes the first half of this session. We now move on to the Q&A session.