Financial highlights for third quarter fiscal year 2020. A-1, financial results for third quarter fiscal year 2020. For the nine months of the fiscal year ending March 2021, consolidated operating revenues were JPY 468.7 billion. Operating loss totaled JPY 3.2 billion. Ordinary income was JPY 42.9 billion, and net income attributable to owners of parent was JPY 63.2 billion. The average exchange rate during the period was JPY 106.14 per U.S. dollar, and the average bunker price was $347 per metric ton. Compared with the same nine-month period of the previous fiscal year, consolidated operating revenues declined JPY 98.5 billion, and operating profit declined JPY 24.8 billion. Ordinary income increased JPY 18.4 billion year-on-year, and net income attributable to owners of parent increased JPY 38.0 billion. The ordinary income and net income results exceeded the forecast disclosed on December 28th, 2020, by about JPY 3 billion. Regarding the major factors affecting results, the consolidated ordinary income was boosted by higher after-tax profit from equity method affiliate Ocean Network Express, hereinafter ONE. Specifically, ONE's containership business enjoyed strong cargo demand along with stable market conditions. The consolidated ordinary income reflects equity in earnings of ONE. In regard to net income attributable to owners of parent, in addition to the profit growth from ONE, the company booked extraordinary income from the sale of its shares in International Transportation Service, Inc., hereinafter ITS, which operates terminals on the North American West Coast. In terms of key financial indicators, as of December 31st, 2020, our shareholders' equity was JPY 153.1 billion, an increase of JPY 62.0 billion compared with the end of fiscal year 2019. Interest-bearing liability was JPY 536.0 billion, almost unchanged from the end of the previous fiscal year, with a decline of JPY 7.5 billion. Cash and cash equivalents at the end of the third quarter totaled JPY 143.7 billion, an increase of JPY 31.8 billion from the end of the previous fiscal year, as we increased liquidity to respond to the novel coronavirus, hereinafter COVID-19, pandemic, among other needs. Net DER was 238%, a year-on-year improvement of 185 points from the end of the previous fiscal year. Our equity ratio was 17.7%, nearly 18%, and an improvement of six points compared with 11% at the end of the previous fiscal year. It was about 22% when including the 50% equity credit assigned by a rating agency to our subordinated loans. A-2, financial results for third quarter fiscal year 2020 by segment. Our ordinary income and loss for the nine months of the fiscal year ending in March 2021 by segment show the following results. The Dry Bulk segment posted an ordinary loss of JPY 7.6 billion. The Energy Resource Transport segment recorded ordinary income of JPY 4.0 billion. The Product Logistics segment generated ordinary income of JPY 51.9 billion, and the Containership business alone posted ordinary income of JPY 51.7 billion. The Product Logistics segment, excluding the Containership business, had ordinary income of JPY 0.2 billion. B. Forecasts and initiatives for fiscal year 2020. B-1. Forecasts for fiscal year 2020 and key factors. Regarding our forecasts for the fiscal year ending March 2021 and key factors affecting results, we forecast operating revenues of JPY 612.0 billion, an operating loss of JPY 21.0 billion, ordinary income of JPY 50.0 billion, and net income attributable to owners of parent of JPY 65.0 billion. The average annual exchange rate is forecast at JPY 105.73 per U.S. dollar, and the average bunker price is forecast at $358 per metric ton. Year-on-year, ordinary income is forecast to improve JPY 42.6 billion, and net income attributable to owners of parent is forecast to improve JPY 59.7 billion. The current ordinary income and net income forecasts are significantly higher than the forecast made at the end of the second quarter, with increases of JPY 50.0 billion and JPY 45.0 billion respectively. Our assumptions for foreign exchange rates and explanations on key factors are shown at the bottom of the slide on page seven. At present, we are not decided to pay year-end dividends. We will make an announcement after carefully considering our full-year forecast, financial condition, and other factors. We appreciate the patience of our shareholders and regret we have not decided to pay it. B-2, forecasts for fiscal year 2020 by segment. We look at the full-year forecast by segment. Regarding the Dry Bulk segment, Capesize market demand was robust at the start of the third quarter due to a rebound in crude steel production in major producing nations, driven primarily by robust steel demand in China. However, the Capesize market slumped considerably toward the end of the quarter, due mainly to lower iron ore exports from Brazil caused by poor weather and maintenance to mining equipment. Panamax and smaller-sized vessel market conditions held firm in the third quarter as a result of robust North American grain shipments to China and Australian coal shipments to India, Japan, and South Korea. Regarding the outlook for the fourth quarter and beyond, seaborne cargo demand is expected to continue to rebound. It is important to note, however, that the global economy could be adversely affected by a resurgence in COVID-19 infections and the appearance of new strains of the virus in various countries. Additionally, other factors may emerge to prevent efficient vessel operations, including restrictions on crew changes. These and other factors could undermine the stability of the Dry Bulk market conditions moving forward. As a result, we are forecasting an annual ordinary loss of JPY 8.0 billion for the segment, which would be a year-on-year deterioration of JPY 12.1 billion and JPY 1.0 billion lower than the previous forecast. The Energy Resource Transport segment is expected to perform steadily, supported by long-term chartering contracts, mainly in the LNG carrier and tanker businesses. The segment is forecast to continue generating stable profit through the end of the fiscal year. Within the segment, however, offshore support vessel business is expected to continue to slump in the fourth quarter due to the decline in oil prices. We continue to cut costs and take other measures to improve profitability. Regarding drillship business, there is a risk of a temporary deterioration in profitability, taking into consideration the market condition forecast following the expiration of the current chartering contracts in 2022. For the entire Energy Resource Transport segment, we forecast ordinary income of JPY 1.0 billion, a year-on-year decline of JPY 8.9 billion, and JPY 0.5 billion higher than the previous forecast. In the Product Logistics segment, shipments plunged in car carrier business, particularly at the start of the fiscal year due to the impact of COVID-19, which caused a global slump in car sales and suspended factory operations in countries around the world. We have responded by suspension of vessels and reviewing some services, as well as disposing of surplus vessels in order to reduce costs. Car carrier demand is currently rebounding, but the market improvement will not be enough to offset the decline in the first half of the fiscal year. For the full year, we forecast a significant year-on-year decline in shipment volume. In the fourth quarter and beyond, in addition to the disposal of surplus vessels and other measures previously completed, we will continue to optimize fleet scale and vessel deployment as shipping demands rebounds. Regarding logistics business, cargo demand also plunged at the start of the fiscal year due to the spread of COVID-19. Short sea and coastal businesses have experienced a decline in shipping demand for steel products, logs, and others, while ferry business has also slumped. Currently, while there is concern of a resurgence in COVID-19 infections in and outside Japan, the stronger demand for container shipping is expected to continue for the time being. E-commerce-related cargo movement are robust at present, thanks to growing stay-at-home demand. Overall, therefore, the business remains strong, and profitability is expected to remain stable. In December 2020, we completed the sale of the company's shares in ITS, which operates the terminals business on the North American West Coast to infrastructure investment fund owned by Macquarie Group. In Containership Business, equity method affiliate ONE posted higher profit year-on-year as a result of strong container shipping demand, flexible operations to meet changes in demand, and general higher freight rates. In the fourth quarter and near term, freight rates are expected to remain at high levels. There are, however, various unknown factors clouding the outlook, including how disruptions to supply chains will be resolved in the future and how liftings will change and thus affect freight rates. ONE continues to monitor market developments and will flexibly and steadily adapt to business environment change. Overall, therefore, the Product Logistics segment is forecast to generate a full-year operating income of JPY 65.0 billion, a year-on-year improvement of JPY 67.9 billion and JPY 53.5 billion higher than the previous forecast. B-3, forecasts for fiscal year 2020 by segment. The waterfall chart on page nine provides an analysis of the changes to ordinary income and loss for each segment by comparing the previous fiscal year's results with the current full-year forecast. Overall, in contrast to fiscal year 2019's year-on-year improvement of JPY 7.4 billion, the current fiscal year's ordinary income is forecast to improve by JPY 50.0 billion. The Dry Bulk segment is forecast to post ordinary loss of JPY 8.0 billion, a deterioration of JPY 12.1 billion compared with fiscal year 2019's ordinary income of JPY 4.1 billion. The Energy Resource Transport segment is forecast to post ordinary income of JPY 1.0 billion, a deterioration of JPY 8.9 billion compared with fiscal year 2019's ordinary income of JPY 9.9 billion. The Product Logistics segment, excluding containership business, is forecast to post ordinary loss of JPY 1.0 billion, a deterioration of JPY 8.6 billion compared with fiscal year 2019's ordinary income of JPY 7.5 billion. The containership business is forecast to post ordinary income of JPY 66.0 billion compared with fiscal year 2019's ordinary loss of JPY 10.4 billion, for an improvement of JPY 76.5 billion. Overall, the total year-on-year improvement is forecast at JPY 42.6 billion to reach the current forecast of JPY 50.0 billion in operating income. Overall, there was a substantial decline in business in the first half of the fiscal year, with the exception of Containership business. In the second half, both cargo volume and market conditions are generally recovering, and with the exception of some temporary factors dragging on profitability, our overall business is recovering. It is important to note, however, that countries around the world have enacted strict border controls, the result of which has been to force vessels to deviate from the most efficient route for ship crew change, to lengthen onboarding period, and to cause higher personnel costs due to special payments to crew. Altogether, COVID-19 has caused direct expense of about JPY 2.0 billion. Financial results of Ocean Network Express. Regarding ONE's business, we have explained that the company results and the contribution to our consolidated results. We would also like to take a minute to explain how ONE is tackling severe disruptions to global supply chains. First, in the containership business, supply chains from one port to another are very long and complex. Shippers rent container boxes from the shipping company and load their cargo on the containers, which are then transported to the terminal at a loading port. At the loading port, the containers are loaded on the vessels and transported by sea to the discharging port. At the discharge port terminal, the containers are unloaded and picked up by consignees. After cargo delivery, the empty containers are returned to the discharge port and finally to the next loading port. Currently, this long supply chain is being disrupted by extremely low efficiency in the cargo handling operations at ports. California has been especially hard hit by COVID-19 infections among port workers, and ports have suffered from lower manpower. Due to the slow cargo handling operation, vessels have remained at port longer than usual. A number of vessels are waiting outside ports of Los Angeles and Long Beach, waiting to load and unload cargo. At discharge ports, empty containers cannot be collected due to disruptions to railway services and lack of trucks. In other cases, the container cannot be retrieved from customer sites. As a result, there are both a lack of space on vessels and a lack of containers to ship new cargo. At loading ports, there are not enough containers or not enough space on vessels. These problems have created significant inconvenience to customers. To deal with these problems, ONE has secured short-term time charter vessels. These chartered vessels are collecting accumulated cargo at loading ports and transporting them to discharging ports and picking up empty containers for return. There has been a shortage of container boxes due to lower operating rates at container manufacturers. ONE placed significant orders for new containers in the second half of the fiscal year and will deliver them to markets where needed. On the customer relations side, the company has launched a self-service platform to manage the increase in the number of inquiries. As explained, ONE's role within the supply chain is limited as a shipping company. ONE is working diligently to implement effective measures to optimally circulate containers. If containers are not circulated efficiently, these supply chain problems cannot be alleviated. There have been some media reports about the issues surrounding containership companies. We hope this explanation helps to understand the whole picture on the issue.