Hello everyone, I am Takaku of Kyoritsu Maintenance. Thank you very much for taking a time out of your busy schedule to join us at the financial results briefing for fiscal year ending March 2025. This time again, we are having this remotely, so we are very happy to see many investors, not only from Japan but also from abroad. Thank you very much indeed. Now, as reported, the number of foreign visitors from January to March this year has already surpassed JPY 10 million, which is the fastest ever. Also, last month in April, it increased further. It reached JPY 3.9 million per month, up 28.5% year-on-year. It was a single-month record. Under those circumstances, we will make sure that we respond to this trend. In today's session, we would present the financial results summary of 2025 March, in which we updated the highest record and full-year forecast for 2026 March, as well as the progress of the medium-term management plan. First, I would like to present the financial results summary for 2025 March, and President Nakamura will present the full-year forecast for March 2026 and the progress on the medium-term management plan. Let me start with the financial results summary. This page shows 2025 March financial highlights. Despite improved employment and income environment and recovery signs of consumption, uncertainty continued due to the trade policy trend of each country and foreign exchange fluctuations. Although food and personnel costs increased mainly through sales price optimization, we offset the large-scale renewable expenses, and we recorded the highest profits for two consecutive years. Annual dividend is expected to be JPY 38 per share, up 55.1% year-on-year or JPY 13.5. In dormitory business, as employment environment improved because of the economic recovery and the labor shortage, the number of contracted employee dormitory rooms increased significantly. Sales and profit grew also with the sales price optimization, realizing continued stable growth. In hotel business, demand strengthened with growing inbound visitors, with thorough revenue management to address cost inflation, higher running costs, and large-scale renewable costs to maintain and improve customer satisfaction were offset, and sales and profit grew significantly. As for others, we recorded an equity in earnings of Cosmos Initia, aiming for enhancement of the development promotion capability and synergy effects, and the real estate securitization carried out for the first time in three years. Next is consolidated financial results and main financial indicators. Net sales were JPY 228.9 billion, up 12.2% year-on-year. Operating income JPY 20.4 billion, up 22.6% year-on-year. Both numbers were record highs. Ordinary income was JPY 21.4 billion, up 1.4% year-on-year. The growth rate is low mainly due to about JPY 5 billion equity in earnings of Cosmos Initia that we acquired in the previous year. With the absence of extraordinary losses booked last year, such as about JPY 2 billion impairment loss and business withdrawal in Thailand, net income grew 17.3% year-on-year to JPY 14.5 billion. To show year-on-year comparison in real terms, numbers without special clauses are listed on the right. Excluding the large-scale renewable shown as B column, new openings shown as C column, and the real estate securitization shown as E column, sales increased for JPY 17.8 billion, operating income increased for JPY 4.4 billion, and ordinary income increased JPY 4.6 billion. This is the year-on-year comparison of net sales and operating income by business segments. As shown, hotel business is increasing significantly as our growth driver. Dormitory business is steadily growing. You can also see the growth of comprehensive building management business with increased large-scale renewals. This shows factors for deviation from March 2024 term. In dormitory business, higher costs, which continued throughout the year, were offset by sales price optimization. Operating income increased. In hotel business, despite cancellation of the reservations due to Typhoon No. 7 and No. 10 in August and others, early warning for Nankai Trough earthquake and large-scale renewal conducted during the low season of January to March, we captured strong demand, including growing inbound visitors. Operating income increased with rising RevPAR. In others, profits of development business, comprehensive management business, and senior life business increased. However, with higher consolidated eliminations and unallocated head office expenses, operating income was mostly the same as the year before. As a result, operating income of this term increased JPY 3.7 billion or 22.6% year-on-year. I will now explain each of the segments. First, regarding the dormitory business, our KPI, the occupancy ratio, at the beginning of the fiscal year under review started at 97%, down 1.2% points from the previous period. Net sales increased 5% from the previous period to JPY 54.92 billion due to factors such as the optimization of sales prices and the effect of an increase of 907 rooms or 8 properties that opened during the fiscal year under review. Operating income increased 3.3% from the previous fiscal year to JPY 6.07 billion thanks to the contribution of increased income from increased sales, which absorbed cost inflation of food ingredients and utilities, which soared during the fiscal year. This slide shows the occupancy ratio at the beginning of the year and the number of rooms occupied, which are KPIs for the dormitory business. As you can see, the occupancy ratio at the beginning of the fiscal year ended March 2025 was 97%, and the number of rooms occupied at the beginning of the fiscal year was 43,624, up 370 rooms from the previous fiscal year. The occupancy ratio at the beginning of this fiscal year ending March 2026 started at 97.4%, up 0.4% points from the previous year. The number of rooms occupied at the beginning of the fiscal year ending March 2026 were up due to the success of aggressive sales, with the number of employee dormitory rooms occupied up 559 from the previous year to 12,154, and the number of Japanese-occupied student dormitory rooms occupied up by 777 from the previous period to 23,032. The total number of occupied rooms has started at 45,082, up by 1,458 rooms from the previous period. Next is the Dormy Inn business. During the fiscal year under review, although there were some reservation cancellations in Japan due to natural disasters and the impact of large renovations, we were able to attract many domestic and international customers through aggressive sales activities and thorough revenue management. As a result, RevPAR for existing properties increased by JPY 1,196 or 9.6% year-on-year, leading to a revenue increase of JPY 7.77 billion. Even on an operating income basis, the increase in running costs were absorbed, leading to an increase of JPY 3.79 billion. In addition, the four facilities, or 750 rooms that opened in the previous fiscal year, including Dormy Inn Aomori, have performed well since their opening, resulting in an increase in sales of JPY 3.51 billion. Operating income increased by JPY 1.63 billion. Regarding other factors, the company aims to maintain and improve customer satisfaction on an ongoing basis. This includes the strategic implementation of large-scale renovations. The profit impact was JPY -2.54 billion from the previous period. As a result, for the overall Dormy Inn business, net sales increased 15.1% from the previous year to JPY 83.8 billion. Operating income increased 21.8% from the previous fiscal year to JPY 15.43 billion. Next are the KPIs for the Dormy Inn business: occupancy ratio, ADR, and RevPAR. They are shown by month. In the fiscal year under review, the occupancy ratio fell 0.1% points from the previous period, but ADR increased JPY 1,399, resulting in a RevPAR of JPY 13,655, an increase of JPY 1,196 year-on-year. The occupancy ratio declined slightly due to the impact of typhoons and other natural disasters, but ADR increased substantially as we continue to engage in optimizing sales prices in light of cost inflation. Business conditions in April were favorable, as shown in red, and the current situation in May is as follows: as of May 20, the occupancy ratio was 86.2%, ADR JPY 17,048, and RevPAR at JPY 14,698. The next page is about the resort business. In the resort business, as in the Dormy Inn business, we received a large number of guests. In the existing properties, RevPAR increased by 8.3%, or JPY 2,922 year-on-year, contributing to a net sales increase of JPY 4.27 billion. The impact on operating income after absorbing cost inflation was JPY +1.96 billion. In addition, regarding La Vista Yokosuka Kannonzaki Terrace, which opened in the previous fiscal year, RevPAR increased by JPY 7,146 year-on-year, contributing to a revenue increase of JPY 510 million and profit increased by JPY 150 million. Under others, Noto Kaishu at Wakura Onsen was closed due to the Noto Peninsula earthquake, and large-scale renovations were also underway. Profit impact from these factors were minus JPY 1.22 billion year-on-year. As a result, in the resort business as a whole, net sales increased 5.1% year-on-year to JPY 55.44 billion. Operating income increased 41% year-on-year to JPY 3.06 billion. On the next slide are the KPIs for the resort business. Occupancy ratio, ADR, and RevPAR are shown by month. In the fiscal year under review, the occupancy ratio increased 1.4% points year-on-year, and ADR increased by JPY 2,881, resulting in RevPAR of JPY 38,336, an increase of JPY 2,922 year-on-year. Like Dormy Inn, although there were impacts from typhoons and other factors, the company continued its efforts to optimize selling prices to cope with cost inflation. April conditions were favorable, as shown in red, and current conditions in May, as of May 20, were an occupancy ratio of 77.8%, ADR JPY 50,283, and RevPAR at JPY 39,134. Next, I will explain the consolidated balance sheet and the net debt to equity ratio. Total assets as of end of March were JPY 301.4 billion, up JPY 30.5 billion from the end of the previous fiscal year. The main reason for the increase was higher fixed assets due to an increase in construction in progress resulting from hotel development, mainly in Atami, and the acquisition of land for development. Interest-bearing debt increased JPY 10.6 billion to JPY 149.2 billion. This was mainly due to the use of existing syndicated loans. As a result, net interest-bearing debt was JPY 123.5 billion, with a net D/E ratio of 1.24 times. The equity ratio was 33%, up 1% point from the end of the previous fiscal year. Moreover, towards the realization of our pre-COVID financial policy of achieving a net D/E ratio of 1.0 times or less, we will continue to strive to further improve our business performance and control interest-bearing debt by utilizing financing through securitization of real estate and other means. Finally, I'd like to talk about dividends and shareholder benefits. First, let me explain about dividends. The company currently plans to pay a dividend of JPY 38 per share for the fiscal year under review, an increase of JPY 13.5 or 55.1% year-on-year after taking into account the stock splits for a payout ratio of 20.4%. For this fiscal year, we expect to pay an annual dividend of JPY 46 per share, an increase of JPY 8 per share for the full year, or a 21.1% increase in the annual dividend. Next, I would like to explain the newly expanded shareholder benefit program. There are three main points. First, increase in the benefit amount, which has been almost doubled. Second, longer use period. And three, shift to digital. First, regarding the increase in benefit amount, as described in the slide, the amount offered through shareholder benefit vouchers and long-term shareholder benefit vouchers were increased substantially. Regarding the second point, longer use period, the expiration date has been changed from 6- 12 months instead in order to make it available to more shareholders. As for the third point, digitization, the method of distributing vouchers will be changed from paper to digital. This change will enable more flexibility, enabling use in one-yen increments instead of the previous JPY 1,000 increments on paper vouchers, which should improve customer convenience and operational efficiency, reducing the need for tallying and other operations. By applying these enhancements from shareholders as of March 31, 2025, we are looking to expand retail investors who can also be our potential customers. This concludes my presentation of the financial results for the fiscal year ended March 2025. Next, our President, Mr. Nakamura, will explain the earnings forecast for the fiscal year ending March 2026. Thank you very much for your attention. This is Nakamura speaking. I would like to now explain the financial forecast for fiscal year ending March 2026 and also the progress on the medium-term management plan, Kyoritsu Growth Vision Rise-Up Plan 2028. This fiscal year is the third year of this medium-term plan. For our two core businesses, stable dormitory business and hotel business, that is our growth driver, we continue to expand new openings and sales price optimization. We plan to offset the rising cost by higher marginal profit through the top-line accumulation and plan to increase profit. This is the first year of aggressive new development and new openings. Twelve facilities with 1,364 rooms opened in dormitory business, and we plan to open six facilities with 943 rooms in hotel business, which went through the restrained operation during the COVID-19 pandemic. We plan to restart full-fledged real estate securitization, aiming for recovering investment capital and offsetting the startup costs. Exceeding the previous year, our operating income forecast is JPY 28 billion, and dividend is JPY 46 per share, up 21.1%. Next is the four-year forecast and special causes. First, about sales and operating income, the profit grew without the large-scale renewal done last year. Special causes include the changes of opening costs as well as changes of the real estate securitization that we started in the full-fledged manner, as you can see on this slide. Excluding these special causes, operating income in real terms would be JPY 22.7 billion, adding JPY 2.2 billion to last year's JPY 20.4 billion. Next, it shows the year-on-year sales and operating income comparison by segment, as well as the comparison to FY March 2019, which is before the pandemic. For dormitory and hotel business, higher sales and profit are forecast, and the details will be explained later. For development business, sales are expected to grow about JPY 28.6 billion year-on-year and operating income up JPY 1.7 billion. This is because of the real estate securitization. Four hotel facilities are factored in. Now, let's look at the factors of changes of net sales and operating income by segment. In dormitory business, with 12 facilities, 1,364 rooms new opening this term, pushing up the sales by JPY 1.8 billion. Sales price optimization and others are expected to push sales up by JPY 880 million. Net sales forecast is JPY 57.65 billion, up 5% year-on-year. With higher variable costs, operating income is expected to reach JPY 6.2 billion, up 2% year-on-year. This shows the new openings of the dormitory and senior life business by prefecture and number of rooms. In dormitory business, we have been continuously and intensively opening new facilities in the Tokyo Metropolitan Area and other government-designated cities, where there is a high concentration of educational and business corporations. In the current fiscal year, we opened new facilities in Okayama, Kagawa, Takamatsu, and Tokushima, the medium-sized cities where the national universities are located, to meet the needs of the universities and the students in a wide-ranging locations. Next is the Dormy Inn business. First, for existing facilities, we have set the RevPAR at JPY 753 higher than the previous year and expect an increase of JPY 5.77 billion in net sales and JPY 2.34 billion growth in operating income. In addition, we expect the Global Cabin Yokohama Chinatown, which opened the previous year, to increase the sales by JPY 110 million and operating income by JPY 40 million, while the four Dormy Inn Tsuruga, Dormy Inn Express Unnan, Nono-Kumamoto, and Nono-Fukui opening this fiscal year with 637 rooms will generate JPY 1.07 billion in sales, JPY 170 million in operating expenses. On the other hand, we have factored in JPY 1.54 billion higher profit due to the absence of the large-scale renovation expenses and JPY 610 million decrease in headquarters and other expenses, for a total of increase in profit of JPY 930 million. As a result, we forecast an 8.6% increase in net sales to JPY 91.03 billion and a 20.3% increase in operating income to JPY 18.57 billion. Next is the new opening plan of Dormy Inn business. This is the first year of aggressive new development and new opening. We will accelerate the speed of the hotel openings, which was restrained during the pandemic. First, for this fiscal year, four Dormy Inns with 637 rooms will be opened. Number of the facilities and rooms are shown here. Dormy Inn Tsuruga is expected to capture the increased demand from both business and leisure travelers due to the extension of Hokuriku Shinkansen. Express Unnan, which is part of the new roadside development areas included in the midterm plan, and Nono-Kumamoto and Nono-Fukui, which are intended to create a dominance effect with existing Dormy Inns. With these new openings, we intend to enhance our brand value by offering our unique hotel services to not only the business travelers but also to the growing number of leisure travelers in Japan and overseas. Next, this slide shows the trends in KPIs, occupancy rate, ADR, and RevPAR, showing this fiscal year level in comparison to the past 10 years. On the right-hand side, we are showing the year-on-year changes from FY March 2025 to FY March 2026. For this fiscal year, we expect that the occupancy rate to go up by 1% point, ADR to be JPY 16,500, up JPY 600, and as a result, RevPAR is expected to increase 5.5% to JPY 14,500. We will focus on thorough revenue management to make sure to achieve the targets. In April and May, KPIs are trending slightly higher than the forecast. We have made a good start. Next is resorts business. With existing facilities, RevPAR is set JPY 3,615 higher than the year before, pushing up the sales by JPY 5.45 billion and operating income by JPY 2.42 billion. Kyoto Omuro Kaden Sho and La Vista Atami Terrace will be opening this fiscal year, so 306 rooms with those two facilities, JPY 250 million in sales and JPY 680 million in development costs are factored in. Large-scale renewal cost of JPY 350 million is factored in. Just like the Dormy Inn, we plan to offset the higher costs by higher top-line with sales price optimization through thorough revenue management. Resort business net sales are expected to be JPY 60.17 billion, up 8.5%, and operating income is forecast to grow 13.6% to JPY 3.48 billion. As a result, overall net sales of the resorts business are expected to increase by 8.9% to JPY 60.35 billion. We are working on accelerating the new openings. We plan to open 306 rooms with two facilities. This new facility in Kyoto is right in front of Ninna-ji Temple and is located at the higher rank of our hotels. As for La Vista Atami Terrace, it is located in a great place within walking distance from Atami Station and close to the beach. It will be a large symbolic and a European-style hotel representing our resort business. We will make group-wide efforts for its success. Here are the KPIs for the resort business. Like Dormy Inn, we will conduct thorough revenue management for each facility during the current fiscal year and plan RevPAR of JPY 41,800 for the full year, up 9.4% year-on-year. I would now like to explain the progress of our five-year medium-term management plan, Kyoritsu Growth Vision Rise-Up Plan 2028, which started in fiscal year ending March 2024. First, here are the quantitative targets of this plan and the progress we have made to date. As shown in the upper part of the table, the two initial years of the plan were positioned as a recovery period from COVID and the following three years as a new growth period. In the first fiscal year ending March 2024, inbound demand recovered and increased much faster than expected, and the optimization of sales prices was also successful, resulting in business performance that was one year faster than initially expected. For the current fiscal year, we have set a target of JPY 25 billion for operating income and will concentrate all our efforts on achieving it. We will also focus on the early achievement of this midterm plan and start drafting a new midterm plan that succeeds this one. Next, I'd like to explain the progress of the external growth strategy. First, regarding the number of rooms in five years, toward the final year of the midterm plan, fiscal year ending March 2028, the dormitory business is expected to progress to 99% of its target of 50,000 rooms and 96% of progress to be made on ADR. The projected net sales for the current fiscal year are expected to progress to 93% of the final year's target during this fiscal year. Next, the Dormy Inn business is projected to reach 100% of the 20,000 rooms target for the final year, with ADR and net sales for the current fiscal year projected to reach 128% and 108% for net sales, respectively. For the resort business, it is expected to reach 89% for number of rooms, ADR 92%, and net sales 72%, with a plan focused on more growth in the second half of the plan. As a result, on a group consolidated basis, against the forecast of JPY 280 billion in net sales for the final fiscal year, we expect net sales of JPY 274 billion, or 98% progress this fiscal year, which is slightly faster as a pace than planned. Regarding organic growth next, specifically, in addition to the corporate membership program, Shiki Club, which provides comprehensive access to the group's services, in December 2022, we began operating dormies as an individual member exclusive app. We focused on strengthening the status program and set forth attractive accommodation plans, and we now have more than 1.3 million registered customers. In addition, in February 2024, we launched the improved reservation website intended to attract new members and increased the number of repeat members. We will strive to enhance customer satisfaction further and rationalize referral commissions. Since the current fiscal year, we have been continuously implementing measures to achieve our in-house reservation ratio target of 40%. Every year, we are gradually seeing results. In addition, hotel property management systems, including smart check-in and check-out systems, have been installed at 36 hotel properties up until March 2025, or 39 hotel properties up until March 2025, and 62 properties have automatic payment machines. These measures are steadily contributing to better customer and employee satisfaction, as well as better quantitative labor productivity. In addition, labor-saving efforts through the use of cleaning and catering robots, RPA, and paperless systems are progressing steadily, and both the frontline and headquarters are working together to improve cost performance. Next, I would like to explain our investment plans and shareholder return policy and the progress of our funding plan to support these efforts. The total investment amount has been revised from the previous year to JPY 240 billion over five years, incorporating a JPY 40 billion increase from the original plan and has not changed since then. In addition, for funding, we can expect an increase in after-tax and after-dividend cash flow as the business environment improves beyond our initial expectations and profit margins improve due to the implementation of growth strategy measures. In addition, we are in a situation where the full execution of our investment plan of JPY 240 billion is feasible by steadily building up on real estate securitization with our partners and borrowing from financial institutions. Through these efforts, we intend to continuously work on management that contributes to maximizing corporate and shareholder value, such as ROE, which indicates capital efficiency, and the net D/E ratio, an indicator of financial discipline. Lastly, this shows the new opening pipeline of dormitories and hotels during the period of the medium-term management plan. For the current fiscal year ending March 2026, as explained earlier, the dormitory business has opened 12 properties or 1,368 rooms in April at the beginning of the fiscal year, and as for hotels, four Dormy Inn properties with 637 rooms and two resort establishments with 306 rooms are scheduled to open. The opening plans for next fiscal year and beyond are also shown here. With regard to the progress made on the rooms target under the midterm plan ending March 2028, the dormitory business is at 49,600 rooms against the 50,000 rooms plan, and the Dormy Inn business is in line at 20,000 rooms. The resort business is at 4,900 rooms against the planned 5,500 rooms. Although the external environment remains uncertain with construction costs remaining high, we plan to accordingly open more revenue-producing properties to ensure sustainable growth potential. As mentioned, we will realize and materialize our plan through external growth by capturing improvements in the business environment and internal growth that we are steadily working on. Therefore, we look forward to your ongoing support and your feedback. Thank you very much for your attention.