Good morning to you all. I am Takaku from Kyoritsu Maintenance. Thank you very much for taking a time out of your busy schedule to join us at this financial results briefing for the first half of fiscal year ending March 2025. Once again, we are having this briefing session online. We have participation from many Japanese as well as foreign investors. I'd like to thank you very much. This is live streamed, so there might be some sound issues or other technical issues, but I hope you will bear with us. Now, this summer was the record-breaking long and hot summer. Looking back, there was a torrential rain, typhoon, and also the emergency warning for the earthquake. Those are not really the positive factors on the service and tourism industry. However, as of October, we have seen the record high number of inbound tourists for nine months in a row. Because of the government's measure to promote tourism and also the situation in China, we believe that the increasing trend is likely to continue. And under those circumstances, despite the impact from the natural disasters such as typhoons, we are happy to announce today that the highest first half profit and also the report to you on the full-year forecast based on the recent reservation status. So I myself, Takaku, would like to first of all present the overview of first half results. And then President Nakamura will explain the full-year forecast. Let me start with the financial results highlight. This is for the first half for the fiscal year ending March 2025. Employment and income environment gradually improved, but excluding the impact of the changing prices, actual consumption was down. Uncertainties continued, such as unstable international situation, including the Middle East. High energy and raw material costs continued. Higher costs were offset by long-term large-scale renewal to maintain and improve customer satisfaction and sales price optimization. Profit increased significantly year-on-year to achieve the highest record. First, looking at the dormitory business, the economic recovery and the labor shortage improved the employment environment. And with this, the number of contracted employee dormitory rooms increased significantly. Sales price optimization was successful to push up the sales and profit. As for hotel business, in high season, August and September, there were a series of cancellations of the reservation due to the typhoons and the emergency warning for Nankai Trough earthquake. But through the sales activities and revenue management, the high occupancy rate and high prices were maintained. We absorbed the construction cost of the large-scale renewal, as well as the cost inflation, and sales and profit almost doubled compared to pre-COVID time. As for others, large-scale renewal work to maintain and improve the customer satisfaction was continued, and we recorded equity in earnings through Cosmos Initia shares acquired to enhance the development promotion, as well as business synergy effect. This slide shows consolidated financial results and main financial indicators. Net sales were JPY 111.3 billion, up 12.9% year-on-year. Operating income was JPY 10.6 billion, up 26.5% year-on-year, record high level. Ordinary income was JPY 11.2 billion, up 36.6% year-on-year. The factors of the increase for operating income and others is because of the JPY 870 million equity in earnings through Cosmos Initia shares acquired in February last year. As extraordinary loss of JPY 760 million on business withdrawal in relation to the closure of the service apartment operated in Thailand was recorded last year, net income grew 64.2% year-on-year to JPY 7.7 billion. To show the year-on-year comparison in real terms, numbers without special causes are listed on the right. Excluding the cost changes of the large-scale renewals and newly opened facilities after April 2023 onwards, sales increased by JPY 9.9 billion, operating income increased by JPY 2.3 billion. The rate of achievement during the first half to the full-year forecast is shown at the far right. Next, let me explain the factors for deviation from the operating income plans. Starting with the dormitory business, food and labor cost increase was slightly less than expected. The progress was mostly on track. As for hotel business, due to the Typhoon No. 7 and 10 of the season in August and early warning for Nankai Trough earthquake, reservations were canceled, and we failed to meet targets. In others, comprehensive management business and Kyoritsu Maintenance exceeded plans, and with consolidated adjustment differences, we exceeded the plans. Although there was about JPY 700 million deviation from the first half operating income plan, as hotel reservations are trending favorably now, we think we can catch up to the plan in the second half from October and onwards. This shows the breakdown of net sales and operating income by business segments comparing fiscal year March 2024 and 2025. As you can see, the dormitory business is steady and solid, and hotel business is greatly outperforming the year before. And now, I would like to explain about each segment from here. First, the dormitory business. Occupancy rate at the beginning of the term, which is our KPI, decreased 1.2 points from the previous term and started at 97%. However, through optimization of sales price and effect of eight newly opened facilities with an addition of 907 rooms, net sales increased 4.8% year-on-year to JPY 27.44 billion. Operating income, with an increase in profits from increased sales, increased 8.2% year-on-year to JPY 3.2 billion, absorbing inflation of food cost and others. This slide shows the occupancy rate at the beginning of the term and number of rooms occupied, which are our KPIs for the dormitory business. Number of rooms occupied at the beginning of the term increased by 370 rooms. year-on-year, to a total of 43,624 rooms, occupancy rate at the beginning of the term was at 97%. Looking at the breakdown of rooms occupied, number of contracted rooms for employees increased due to improvement in employment environment and stronger recruitment due to shortage of labor. Contracted rooms increased by 578 to 11,595 rooms year-on-year. I have received a report about new application by the Japanese students for April 2025 as of November 19th, and it is making good progress. This is Dormy Inn business. There were some impacts of natural disasters in Japan, such as cancellations, but as a result of our proactive marketing activities and full-fledged revenue management, many guests from inside and outside Japan utilized our properties. As a result, RevPAR at existing facilities increased by JPY 1,062 year-on-year to JPY 3.92 billion. In terms of profits, cost inflation was absorbed and profit increased by JPY 1.75 billion. For four facilities with 750 rooms opened last year, including Dormy Inn Aomori, both the occupancy rate and ADR are increasing daily to reach a normalized occupancy rate. As a result, sales increased by JPY 2 billion and operating income increased by JPY 500 million. For others, with the objective to continuously maintaining and improving customer satisfaction rate, large renovations were done. As a result, profit decreased JPY 510 million. As a result, Dormy Inn business's overall sales increased 17.1% versus the previous term to JPY 41.4 billion. Operating income increased 25.2% versus the previous term to JPY 8.67 billion. This slide shows the KPIs of Dormy Inn business, namely monthly trends in occupancy rate, average daily rate, and RevPAR. In Q2 this fiscal year, year-on-year, occupancy rate declined 0.5 points, but ADR increased JPY 1,259 and RevPAR, which is a multiplication of the two, increased JPY 1,018 year-on-year to JPY 13,976. On a monthly basis, occupancy rate was maintained at around the same level as last year, and we continued our efforts to optimize sales price to meet cost inflation. As for performance for October, shown in red, we are making good progress. For November, as of November 19th, occupancy rate was 92.1%. ADR was JPY 16,643. RevPAR was JPY 15,326. Next is resort business. Just like Dormy Inn, many guests utilize our properties. At existing buildings, RevPAR increased JPY 2,621 year-on-year, resulting in sales increase by JPY 2.21 billion. Operating income also increased to JPY 1.03 billion, absorbing cost inflation. As for others, due to the earthquake in Noto Peninsula, Noto Kaishu at Wakura Onsen had to be closed, and large-scale renovation, etc., was done. As a result, operating income declined by JPY 720 million. As a result, for resorts business, overall net sales increased 5.1% year-on-year to JPY 26.5 billion. Operating income increased 130.5% to JPY 780 million. This slide shows KPIs for resorts business. Monthly trends in occupancy rate, average daily rate, and RevPAR are shown. For Q2 under review, occupancy rate was down 1.9 points versus year-on-year, but ADR increased JPY 3,391 and RevPAR, a multiplication of the two, was up JPY 1,775 to JPY 39,276. Similar to Dormy Inn, occupancy rate was roughly maintained at the same level as the previous year, and we continued our efforts to optimize the sales price to address cost inflation. October performance is shown in red. Both occupancy rate and ADR are trending well. For November, as of November 19th, based on preliminary numbers, occupancy rate was 87.7%, ADR was JPY 50,657, RevPAR was JPY 44,407. Next, I will explain about consolidated balance sheet and net DE ratio. Total assets as of the end of September increased JPY 5.4 billion year-on-year to JPY 2,276.4 billion. Major reason for the increase was an increase in non-current assets due to increase in construction and progress. Interest-bearing debt increased JPY 8.1 billion to JPY 146.7 billion. This is a use of commitment line of existing syndicated loan. As a result, equity ratio, as described at the right bottom, was up 1.8 points year-on-year to 33.8%. Net interest-bearing debt was JPY 125 billion. Net DE ratio was 1.34 times. Since the pre-pandemic, our financial guideline was DE ratio of less than one. In order to achieve this, we will continue to work to improve our performance and control interest-bearing debt. Last of all, I'd like to explain about dividends and shareholder benefits. Let me start with dividends. Dividends for this fiscal year, after taking into consideration the stock split, is planned to increase by JPY 7.5 or 30.6% year-on-year to JPY 32 a year. Next, let me explain about enhancement of shareholder benefits. There are three points. First, amount of shareholder benefit voucher will be doubled. Number two, extended usage period of vouchers. Number three is electrification. First, as for the increase in amount of shareholder benefits, as described, depending on how many shares you own, there is an increase in amount of vouchers you will be able to receive, and there is an increase in amount for long-term shareholders in order to attract more investments. The second, for extension of the expiration period, we will extend it from six months to twelve months so that more shareholders will have opportunities to use the vouchers. Third, we will also change the distribution of e-vouchers to improve convenience and to promote paperless. With this change, it will become more convenient to use as JPY 1 will be the unit of spent instead of the conventional JPY 1,000. By going paperless, it will also contribute to improvement of operational efficiency in the headquarters and on-site. We will enrich returns to shareholders starting from those who are shareholders as of the end of March 2025. We hope more investors will become our guests and also become our shareholders. We would also like to increase individual investors with this initiative. With this, I would like to conclude the briefing of the financial results for the first half of fiscal year ending March 2025. Now, President Nakamura will explain about consolidated financial forecasts for the fiscal year ending March 2025. Thank you for your attention. This is Nakamura. So from my side, I'd like to explain the full-year financial forecasts. For our two core businesses, stable dormitory business and growing hotel business, we continue to expand the new openings and also the sales price optimization. With rising marginal profit through the accumulation of the top line, higher costs are absorbed, and we expect a record high operating income of JPY 18.5 billion, exceeding the record of the last fiscal year. The forecast is unchanged from the beginning of the term. As mentioned earlier, there was an impact of Nankai Trough, Typhoon No. 7 and 10 in August, making us miss the profit target. But as of now, looking at the reservation data for coming six months, ADR and RevPAR are above the level of plans. Therefore, we expect to recover the shortage in Q3 mostly. We maintain the full-year forecast as is and wait and see whether we can make the improvement from those. Next, let me explain the special causes. First, about the sales and operating income. During the term, there was an impact of suspended operations and construction costs due to the enhanced large-scale renewals. During the pandemic, the development was restrained, and the new development expenses declined, as shown here. As for ordinary income, in the previous fiscal year, we acquired the shares of the Cosmos Initia. There was about JPY 5 billion valuation gain, and this was not present this term. Rather, we only booked the equity in earnings. Cosmos Initia announced the upward revision of their performance on the 8th of November, and the impact from that on us will be minor. So, excluding those special causes under the normal circumstances, adding JPY 3.7 billion to the last year's fiscal year's JPY 16.7 billion operating income of JPY 20.4 billion is our underlying profit or in real terms. Next page shows the quarterly operating income by major segments. First, about the dormitory business. At the beginning of the fiscal year, the occupancy rate slightly declined, but through sales price optimization, more than 5% variable cost hike is absorbed, and we expect a moderate operating income increase. As for hotel business, as mentioned earlier, we expect the recovery in Q3 based on the recent reservation status. However, we expect the year-on-year decline because of the planned large-scale renewal in Q4, when we can minimize the impact from the renovations. In January and onwards, we expect the stronger occupancy rate and prices compared to the initial plans. When we see the clearer trend, we will reflect them into our forecasts. Next is year-on-year sales and operating income comparison by segment, as well as comparison to fiscal year March 2019, that is pre-COVID. The biggest factors to improve the profit during this term is about JPY 2 billion profit increase in hotel business, especially Dormy Inn. The details of this factor will be explained later. [Foreign language] From here, I would like to explain about the factors for increase, decrease in sales and profits of each segment. Starting with the dormitory business for net sales, with the opening of eight facilities, 907 rooms during this fiscal year, we expect an increase in sales of JPY 1.19 billion. On top of that, we will optimize sales price, which will contribute by JPY 1.11 billion. As a result, we expect an increase of 5% year-on-year to JPY 54.89 billion. For operating income, we have incorporated increase in variable cost. Thus, an increase by 5.1% to JPY 6.17 billion is expected. Next is Dormy Inn business. For existing properties, we set the RevPAR to increase by JPY 963. Thus, net sales to increase JPY 7 billion, operating income to increase JPY 4.16 billion. For four properties newly opened in the previous year, namely Aomori, Beppu, Toyohashi, and Nono Asakusa Bettei, with a total of four properties, we expect an increase in net sales by JPY 2.94 billion, operating income to increase JPY 1.29 billion. For resumption of operation of Global Cabin Yokohama Chinatown, a capsule-type hotel, we expect net sales of JPY 100 million and opening expenses of JPY 60 million, which have already been factored in the forecast. On the other hand, as a result of incorporating a large renovation cost of JPY 2.38 billion, headquarters costs and others of JPY 860 million, totaling JPY 3.55 billion of cost, sales are expected to increase for Dormy Inn business overall by 13.5% to JPY 82.61 billion, operating income to increase 14.5% to JPY 14.5 billion. Next is resorts business. For existing properties, we set RevPAR to increase JPY 2,358 year-on-year and expect increase in net sales by JPY 3.5 billion and operating income to improve by JPY 1.46 billion. For La Vista Kannonzaki Terrace, which opened in September last year, we are forecasting net sales to increase JPY 600 million and operating income to improve JPY 240 million. For costs, we are expecting large-scale renovation work of JPY 980 million, but just like Dormy Inn, we are going to do full-fledged revenue management to realize appropriate sales price to increase the top line and absorb this cost. As a result, for the results business as a whole, we expect net sales to increase 3.5% to JPY 54.63 billion and operating income to increase 17% to JPY 2.54 billion. This is a slide on KPIs of Dormy Inn. We have the quarterly occupancy rate, ADR, and RevPAR since March 2019 before COVID till fiscal year ended March 2024 in chronological order. The upper graph shows the changes in KPIs for six years since March 2019, which is before the pandemic, and the bottom red boxes show the breakdown of how we set the occupancy rate, ADR, and RevPAR each quarter against the initial forecast at the beginning of the year, which are the factors for revision this time. For the revision of Q3 this fiscal year, compared to the forecast at the beginning of the fiscal year, we raised the occupancy rate by one point, ADR up by JPY 600, RevPAR to increase by JPY 700 to JPY 14,300. With this revision, we have factored in sales to increase in Q3 by JPY 1.07 billion and operating income to increase by JPY 640 million compared to the initial forecast. We set the RevPAR to increase by 10% year-on-year in Q3, but we'll keep the RevPAR in Q4 to increase by 4% year-on-year to JPY 12,600. But current forecast is very strong, but once it becomes clear that there will be an upside compared to the plan, we do plan to make a revision. This slide shows the quarterly changes of KPIs for the resorts business. Similar to Dormy Inn, revised forecast for the Q3 is occupancy rate improvement of 3.0 points, ADR down by JPY 500, and as a result, RevPAR increases by JPY 1,070 to JPY 41,400. With this, we expect an increase in sales in Q3 compared to the initial plan by JPY 410 million and operating income to increase by JPY 280 million. We set RevPAR to increase by 7% year-on-year in Q3, but keep the RevPAR increase of 4% year-on-year at JPY 36,800. However, like Dormy Inn, when it becomes clear that there will be an upside compared to the plan, we plan to make a revision. By full-fledged revenue management for each facility of Dormy Inn and resorts, we will work on optimizing sales price. We will also be agile and flexible in order to increase sales. Last of all, this is a summary of new development plans of dormitories and hotels during this midterm plan. For the fiscal year ending March 2025, we opened eight facilities, 907 rooms for dormitory business in April. At the beginning of the fiscal year, we also opened a hotel, Global Cabin Yokohama Chinatown, with 99 rooms in October. Development plans from next fiscal year onwards are shown here. For the target capacity during this midterm plan spanning until March 2028, we have plans for dormitory business of 49,300 rooms against the target of 50,000 rooms. Dormy Inn business, 20,600 rooms versus the target of 20,000 rooms, and resorts business of 4,800 rooms against the target of 5,500 rooms. So this is the progress as of now. We are not opening much this fiscal year and apologize for making you worry, but I would like to convey that we are in a situation where we will be able to achieve growth through increase in number of rooms, which constitutes one of the external growth factors during the midterm plan, although there might be some timing differences. We recognize that there are many issues and opportunities for acquiring resources for growth, such as development structure to address increasing costs, including construction costs and financing formation after the introduction of lease accounting. We will realize the plans to live up to shareholders' expectations and ask for your continuous support and advice. Thank you very much for your attention today.