As it is now the scheduled time, may I ask Mr. Son to take the chair? Maybe we should wait a little bit more time for other shareholders to take seats. Good morning. I am Masayoshi Son, Chairman and CEO of SoftBank Group Corp. Thank you all very much for taking time from your busy schedules to attend today. As stipulated in Article 13 of Articles of Incorporation, I will act as chairperson of this meeting. I hereby declare the opening of the 46th Annual General Meeting of Shareholders. This meeting utilizes an online attendance system, allowing shareholders to vote and ask questions via the Internet. Our directors, Mr. Masami Iijima and Ms. Keiko Erikawa, are absent today due to unavoidable circumstances. The agenda today is just as stated in the notice of convocation posted on our website. I also report that the meeting has a quorum. Our moderator will explain the proceedings of this meeting. Thank you. We'll start with the reporting matters, then explain the resolutions and our business strategy. Following that, we will proceed to a Q&A session on all reporting and resolution matters. After the Q&A session, we will take votes on the resolutions only. For exercising voting rights, shareholders present will be asked to vote by applause, and shareholders participating online are asked to cast their votes via the Internet. Please note that online voting is already available, but once a vote is cast, it cannot be modified. After explaining the resolutions and business strategy, we will first answer the questions submitted in advance. We will invite questions and comments from shareholders attending in person. To ensure many shareholders can participate, each person will be limited to one question. When asking a question, please stand, keep your remarks concise, and limit them to no more than one minute. Questions and comments from attending shareholders will only be accepted until the start of the Q&A from online shareholders. We will respond to the questions submitted online today. Online question submission is already open and will close five minutes after the start of the Q&A session. Online shareholders who wish to ask questions should submit them in 200 characters or less. Each person may ask one question. Regarding motions, online shareholders cannot submit motions, including those related to the meeting procedures or resolutions, as previously notified. In case any attending shareholders submit a motion to amend the resolutions, these will be deliberated together with the original proposals, and we will vote on the original proposals first. Thank you very much for your understanding. I'd like to call for a vote to confirm if this procedure is acceptable. Online participants, please press the applaud button if you agree. Those attending in person, please applaud. Thank you very much. Let us now confirm the voting results. Please wait for a moment. Thank you. As the majority is in favor, we will proceed with this procedure. The reporting matters are shown on the screen, and we have prepared a video to explain our business overview. Please watch. [Presentation] That concludes the video presentation. Let me now present today's resolutions. Details are available in the notice of convocation on our website. Proposal 1, appropriation of surplus. Proposal 2, partial amendment of the articles of incorporation. Proposal 3, election of nine members of the board. We will now proceed with the business strategy presentation. Recently, AI is a buzzword. I myself using ChatGPT pretty much every day, maybe 10 times or 20 times a day for asking questions, checking my ideas. I was doing so many things in the weekends, maybe two hours or so, I will be communicating with AI. Even weekdays, maybe one hour, two hours. Of course, I communicate and discuss with employees every day, but the agenda of the discussion may vary. Asking ChatGPT, "How do you think about this? How do you think about that?" AI or ChatGPT reply back to me in details, in deep, or in a wide range of areas. It's a great revolution, great evolvement. So far, AI has been your consultant to answer your questions or generate the videos, clips, or voices. Now we are using it as an agentic AI or AI agent. AI itself autonomously think and make an action by itself. We don't have to ask them to do this, do that in details. As long as we share the same goal, AI will be working without resting and working for around-the-clock. That's how it comes. This is exceeding a human's brain. Now superintelligence, not only the brain is great. If it's only the brain, then AI may just make its own move. Now, if you look at a human, we know the ethics. AI will also cherish the things that we cherish. Those are the things being built into these latest models. We can stop AI's own move or any cheatings that AI may do. Those can be banished. We are seeing the superintelligence now. With the superintelligence, we would like to be such a platform provider. In Japanese, it's like a social infrastructure or more simply put, it's like an organizer. SoftBank Group is aiming to become the provider of the infrastructure of artificial superintelligence. In my presentation, I have three agenda. One is ASI, artificial super intelligence. ASI is abbreviations for that. I would like to discuss and present my vision on ASI. Two agenda is the one quadrillion yen. What is one quadrillion yen? That's a second agenda of mine. Third, as we say, we would like to be the platform provider of ASI, maybe I should put more colors on how we picture ourself, how we going to increase. That'll be another third agenda of mine for today's presentation. 16 years ago, SoftBank Group actually celebrated 30 years since its foundation. Maybe that second week of the anniversary, I said, we discuss the next 30-year vision to my employees. Maybe I discuss about 30 minutes or so, for this next 30-year plan, I want to be making our sales for JPY 1 trillion, JPY 2 trillion. That's the size that we are aiming for. That's how I explained to my employees back then. The next day that they left the company. That's very beginning. That's the very first 30-year vision. After 30 years, about 16 years ago, we celebrated next 30-year vision. When I was 19 year old, I had a 50-year life plan as a business person before we discuss about 30-year plan. In my 20s, get acknowledged as a business person. In my 30s, finance purchased, so on and so on. There are three chapters that I set out for my 50-year life plan. Now I am 68 years old. 60s, hand over business to next generation. That was my original plan as a 50-year life plan, now becoming 68, I became more greedy. I'm still doing healthy. Fifty year ago, the average life was not this long, and when you imagined when you are 60s, I would be a very old man. For my health, I play the ping pong with young employees. I have three young employees, they will change the part, I will be playing by myself for 90 minutes or so and play the ping pong. My actually ping pong is all the smashes and the hits. I'm the risk taker, I just make a smash here and there. It's like quite a wild ping pong game jumping around and play very hard until I'm so sweated and tired, I will play. Still, those three young employees, they have to switch the part, otherwise they'll not be able to sustain. We all exhausted. I myself, on the other half, I'll be even more energetic. I think I still can do. If I retire now, maybe I cannot really kill the time anymore. At the same time, for the growth of SoftBank Group, I wanted to be more contributor for the growth of the company. As a result, I decided to revise my 50-year life plan. 70s, maybe 10 years, 15 years, I would like to do more. Of course, I will stay healthy as long as I can be staying as healthy and also sound, so far I'm doing so great. Every month, I will making a business trip overseas twice or three times a month, still doing great, in very good health. In 70s, I'm 68 now, in my 70s, what I will be doing? In my 70s, as I mentioned in the very beginning of my presentation, I would like to pursue artificial super intelligence. As far as we do, I want to be number one, of course. It has to be number one. That's my character. Of course, in Japan, I have to be overwhelming number one and even in the world, we want to be. In our business area for ASI, we want to also target for becoming number one in the world as well. We will do it. I will do it. There has been evolution of humanity history for about 200,000 years or so. Most high level or highest capacity, highest levels has been reached by human, but the constraint of such humans' evolution has been intelligence. Nothing can be more intelligence than ours or than humans. At the same time, execution has to become along with intelligence. Compared to other animals, human is the superior, and that itself is actually the evolution of humanity. That's the power of ASI. Once that we have combined human and ASI, we can take the best of the intelligence, then that we can extend the intelligence even further. At the same time, we can have Physical AI for the execution of such intelligence. So many things will be even more evolved. As I mentioned, about 16 years ago, we announced next 30-year vision. When I start saying about AI in super intelligence, robots, that's not something that new. When I was 19 years old, I created my 50-year life plan. Even two year before, when I was 17, I first time saw microchip computer, photo of the microchip, and I imagined back then that actually the way we should be heading, I should be heading, and human may be creating something exceeding human in the future. That was when I was 17, now is the time that we are about to see by our own eyes. This next 30-year vision, we're about half of it. This is 16 years now, it's about half that has come. I would like to look back once again. That time I said, "We will be seeing the brain computer to life." It's not a simple programming, but the computer itself is going to be think autonomously. That kind of computer is going to be born, that's how it comes as a result. At the same time, this brain computer will be connected to robots. Once robot coexistent with intelligence, then the things that are too dangerous or too boring, those kind of actions can be replaced with robot. Next 30-year vision actually announced two thing. One, ASI. Another thing was robots with super intelligence. I called it Physical ASI. It's about, I mean AI robots here. First, this ASI. Once that you see more evolution of ASI, it's not only the simple answer, but actually AI itself is going to work on behalf of you. One person will be able to play 1,000 people's labor. Many things, many calculations, many tasks that the one person has been doing Can be a super white-collar. At the same time, 1,000 agents per person will be actually worked out quicker, faster, also a better way. I myself actually applying for the patent for 1,000 cases by myself. That's how I like to think hard. Invention, think about it, I draw a design and so on. How do you think about this idea? What do you think about these things? That's something that I ask ChatGPT, we create the design details made together with ChatGPT so many times, so that we'll be able to brush it up. Not only the simple calculation, but think, create, and generate. We can draw the design, or we can build the business plan together, or at the home, your kids, your grandkids. One teacher can be, or 10 expert teachers can be, provides education to each individual kids. That's also available in the future. Researchers, engineer. For the one person or for each individual researcher or engineer, so many artificial the super intelligence will be provided so that they'll be able to amplify their power. Each individual has a different status of the health every day. Even you want to check with your doctors, doctor may be very busy, or doctors may not be the expertise of what you are feeling. You'll be able to receive the best care of the super intelligence doctor. You'll be able to consult with such doctors. Of course, they will evolve through ASI, human will not be replaced or should not be replaced. Human needs to connect to human and try to aim for the happiness for each other. You cannot replace, but you can evolve the human. This is a tool to evolve. This is a colleague, partner of yours to evolve the humanity. That's how I see the ASI. The second agenda for the next 30-year vision was Physical AI, or so-called Physical AI in the industry. A robot with intelligence. Intelligence with the body. 24/7 autonomous operation in the factories. Robot and robot will be communicating each other, cooperate each other, make the operation, go into the high-risk wars, space, disaster areas, deep in the ocean. We can also use for the rescue from the disaster when we have any threats for the people's life, for those area that the people cannot really go and rescue. At the factories, there are the labor shortage, especially in Japan. We are in the aged society, those labor power is in short here and there. Even the farm, there are difficulty finding the successor, that's also the area that the super AI robot can help and support. As you can see, AI is evolving at a tremendous speed, which is exciting. Again, it's evolving in the process of ASI advancement. What can SoftBank Group do? We have four main themes or focus. First, AI model, which is related to AI intelligence. We want to make sure that we have the best AI model. We alone cannot do, we work with OpenAI, which is a creator of ChatGPT, OpenAI was the trailblazer of AI. We work together with OpenAI to keep evolving AI models. Arm, one of our core businesses or core companies, and our CEO of Arm, Rene, is with us today as a board member, again, will play a key role. The chip is not only a potential bottleneck, but also power can be a limitation. AI infrastructure or data center, which can be a limitation of AI evolution. We want to be the best AI infrastructure provider in the world. In terms of robot, we want to be the best robotics company in the world. Let me dive into those four focuses more in detail. First, AI model. In the last three years, OpenAI has been helping evolving products. ChatGPT is for chat, not only chatting, but also image creation, video creation, program coding, and cybersecurity. OpenAI has been enhancing their capabilities. Going forward toward the ASI, OpenAI will keep evolving and expanding into new domains. When I talked to the head of the development team, Mark Chen. Whenever I talk to him and his team, it's really exciting because they are getting ready for new programmings and new products. Next, semiconductor. NVIDIA has the top market cap. Just three years ago, not so many people heard about the name, but NVIDIA surpassing Google, Microsoft, and Apple, NVIDIA's market cap is the biggest at the moment. NVIDIA is good at generative AI, creating talks, creating images, creating videos. In the area of generative AI, NVIDIA is best at GPU, which originally was designed in create images. Speech, image are the leading areas where NVIDIA can surpass and NVIDIA strives. NVIDIA has the biggest market cap at the moment, but in the next phase, not just creating communications or images, but each and every agent thinks and acts, thinks and acts like 1,000 people working at the same time. That's what it calls agentic AI, or I would say Agent AI. In the world of agentic AI, not a GPU for graphics, but CPU will play a more central role. In terms of CPU design, Arm is absolutely number one in the world. Arm is listed now, but still, SoftBank Group owns around 90% of its stakes. Arm is effectively our company, your company. You are a shareholder of Arm effectively. Arm will play the key role in the world in terms of chip. In the past, Arm just made a design and provided the design to the manufacturer of chips. Not only creating design, but also creating chip itself is something that Arm is now going to do, which was announced a month ago. In the last several months, Arm's stock price has been skyrocketing because of those two reasons. CPU will play a key role in AI, and Arm evolves itself from just the designer to chip maker. That's the reason why. I think Arm's market cap is around JPY 70 trillion or something, which is well beyond Toyota and Kioxia in Japan. I think Arm can grow even more, 10 times and even more. Arm is just at the starting point. Arm's chip, NVIDIA's chip. Those chips are needed to build a server as a system, and the data center is the place where those servers will work. That infrastructure has complex pipelines and wiring, and that would emit heat. You need to cool the heat in the data centers. It's like an AI factory. AI infrastructure or AI data center is an AI factory, and data centers would need a little power. SoftBank Energy, we have 90% of a stake in SoftBank Energy. That's one of our subsidiaries. 10 GW of capacity, or it's equivalent to the capacity of 10 nuclear power plants. I think we have about 30 nuclear power plants in Japan. One-third of the total Japan's nuclear power plants capacity, that will be the capacity of a data center in America. The secretaries of Department of Commerce and Department of Energy are standing with me. That's a joint project with the U.S. government. This is the absolute number 1 data center in America., and that's what SoftBank Group is help creating. In Europe, which also suffers from power shortage. In France, French President Macron, I met with him earlier this month, and we agreed to create a data center in France as a capacity of five gigawatts, which will be the biggest data center in Europe. That's about AI infrastructure. The fourth focus, robotics or robots. How prepared are we in terms of robots? We have many robotics companies. Each business is number one in respective sector. We have been acquiring those businesses. I think Pepper is the most popular in terms of robot by SoftBank. We started creating Pepper 10 years ago, and Pepper is still working in our retail stores, if you know this. We've acquired robotics companies like them, and those businesses include ABB Robotics, which is number two in the world. In the traditional robot, ABB Robotics is number two in the world. Now we have ABB Robotics underneath our SoftBank Group. We want to create a leading robotic company. We have those robotics company underneath our SoftBank Group umbrella to get ready for AI robotics in the future. Again, we will be the absolute number one AI robotics company in the future. In the times of ASI, in those four sectors, we will become the absolute number one provider in the world. In playing Othello, for example, a board game, it doesn't make sense if you have center areas. The key is to get four corners. In the times of ASI, we want to create a new social infrastructure, and we want to take control of the four corners of ASI board game, if you will. We want to be number one in the world. SoftBank Group started from domestic business, but recently we entered overseas markets like U.S., China, and Europe, we started investing in those markets through our Vision Fund. Now generative AI gets evolved into ASI. The United States is most powerful at the moment, and we want to compete in the United States. We want to have number one position in each and every four corner. As we try, as we strive, we want to be the number one. Last year, we had AGM around the same time. Since then, our share price has been up a little bit, but most of them, most of the shareholders, may still be skeptical about our story. You might believe in me today, but you might get, again, skeptical, and you may feel sad or happy by looking at SoftBank Group share prices, because our share prices are so volatile. Maybe our financial statements are too complex, even to the professionals. I understand if you're half convinced, but half skeptical. I'm not, though. I am 100% convinced. I have no skeptics at all. Looking at the share price, I understand some of them, some of you, are half convinced, half skeptical. Think about it. SoftBank is a strategic holding company. We have operating companies in our group, but SoftBank Group is rather not doing our businesses, but we are strategic holding company, having equity of different group companies, whether it be Arm or OpenAI. SoftBank Group is a strategic holding company, an investment company. Our market cap, compared to Arm's value, we have about 90% of stake in Arm, and our Arm's equity value of holding is bigger than SoftBank Group's market cap. We have about JPY 55 trillion of Arm, we are looking at the value every day. According to the latest value, our Arm equity value of our holding is JPY 61 trillion. PayPay, Yahoo Line, and SoftBank, we have those subsidiaries in our group, ByteDance and others. Putting them all together, we have little borrowings as well. Against the value that we have, maybe the debt percentage is about 10%, 11%. Just 10% of borrowing a debt, what should we be afraid of? Because we have a strict financial policy with a set LTV target. Just a net asset value is JPY 74 trillion as of today. Two times bigger than our market cap is our net asset value. Most of the companies that we own are listed, which means those values are being evaluated every day. As of today, our net asset value is twice as our market cap. I think your share is maybe JPY 6,500 per share. Arm's equity value. Sorry, OpenAI's equity value of our holding and SoftBank's equity value of our holding value, less net debt. We have net asset value of JPY 74 trillion. In your wallet, you have cash, and you have shares, only half of that value in your wallet is not seen clearly. You keep holding your value because you believe in the value. You may be much richer than you think, actually, because unrealized value has twice as the share price that your share has. Until you monetize, it's not cash. Looking back our history, 16 years ago, when we announced a new 30-year plan at the general shareholders meeting. 16 years ago, equity value of holdings was JPY 5 trillion. A few years ago, I talked about a goose story. Let's say one golden egg equals to JPY 1 trillion. 16 years ago, we had five golden eggs or JPY 5 trillion, but we had JPY 2 trillion of borrowing. Shareholders' value 16 years ago was JPY 3 trillion, or three golden eggs. Equity value of holding minus net debt equals shareholder value, which was JPY 3 trillion 16 years ago. The net asset value, or NAV, was JPY 3 trillion 16 years ago. NAV is one of the key metrics in the financial sector, and NAV 16 years ago was JPY 3 trillion. SoftBank's market cap was around JPY 3 trillion 16 years ago. Again, market cap JPY 3 trillion, and the net asset value JPY 3 trillion. That was 16 years ago. That means even though a goose lays eggs, value of that goose was valued at zero. Only the three eggs were seen as SoftBank's value. The goose had no value at all. That was what the market saw or thought. Think about that. In the last 16 years, we increased the number of golden eggs from three to 74. Again, three eggs increased to 74 eggs. Eggs don't lay eggs. A goose lays eggs. Eggs don't lay eggs. Which means, who helped increasing the golden eggs? That's what I want to ask. Again, eggs do not lay eggs. The goose increased the number of eggs laid. Future value of the golden eggs was calculated already at present. 16 years ago, the value of the goose was seen as zero, but we or I found the value of the goose, and it was proved. History proves. Was that by chance? Looking back the time since listing, when we were listed, it was JPY 2 trillion. I started this company with only JPY 10 million, and we got listed at the value of JPY 200 billion. In 16 years, our value increased 15 times. The number of golden eggs was three, we grew by 25 times. Now, we have 74 golden eggs. In the last 15 years, it was not just by chance. How many years do I have to fight to prove myself and convince you that, "Oh, the goose did a good job"? The things that you have to count is not only the number of golden eggs that you see now, but you have to look at potential eggs that the goose can lay in the future, like AI data centers and everything. Those are the things that are not seen yet, but they are inside the goose, if you will. Again, you should not look at only the golden eggs in front of you. You have to find value of the goose because the goose has a capacity to keep laying eggs for 40 years. See. The only people who believe in that story, I think you are those people. You have an opportunity. You still have an opportunity. You should be happy. You should be relaxed. You feel good. You feel better now. What about the future? You may start being skeptical, stop. It's been just a half of the new 30-year vision. The next 16 years. 15 times increase, 25 times increase in the last two phases of 16 years. For the next 16 years, should be quadrillion. I have to be brave enough to say this, believe me, because if I turn out to be wrong, people start criticizing me and giving me hard time. I have a small pride in myself since the foundation of SoftBank. Every time we have not disclosed profit outlook in following year. Most major companies do, but we don't. We are holding company, and our share prices go up and down. If we say that our outlook for next year's income will be like that, and if it don't hit, we'll get criticized. Sometimes we announce, but whenever we announce next year's outlook, we never miss. We have made mid, long-term business plans, and we never missed the outlook target. That's what I'm proud of. My commitment, and whenever I say something, I will just do it. In other words, I wouldn't say anything that I don't have confidence to achieve. I think talk big is not bad thing. If you talk big, sometimes may call you a liar, but I would say big vision. When you have a vision, when you have a big, mid, long-term vision, you have a dream, you have a vision, and you have a specific image with a specific target date and numbers, and imagine like that you have already achieved. When we talk about big vision, I think in the last 30 years, what's missing is big business leaders, big vision. Konosuke Matsushita or Soichiro Honda or Akio Morita, they all talked about big vision, remember? Now, the major business leaders don't talk about the big visions because they need to be brave enough to do that. The founder had confidence to grow their own business. I think that's why they would talk about big visions. Again, 1 quadrillion, 1,000 golden eggs. From three to 74 golden eggs. Again, eggs do not lay eggs. The goose lay the eggs. SoftBank Group is the factory of golden eggs. Our role is to help the businesses that we have to become a golden egg. We invest and we nurture the businesses that have potential to be a golden egg in the future, and then they will get listed. They will go public. Why? Because those leader should be seen by analysts sometimes get criticized, so that they keep motivated by themselves to grow further. We, as a holding company, help them to nurture, making sure that they can create and enjoy synergies. Again, those golden eggs were laid not by accident, not by chance. Our absolute focus is to own specific areas that we identified, AI, for example, and we have built our expertise in the last 40 years. The value of golden eggs and the value of the goose should be seen not only just by egg value. Still, plus alpha of goose value should be there. 74 + alpha, which is goose value, is truly valuated. Maybe the value of the goose should be or could be JPY 900 trillion. Call me Son Gacho or not Son Kaicho, which is Chairman Son. Joking aside, I know what role I should play. The goose value should be upside. Again, shareholders or some people, even though AI chips, memories, and those companies' share prices are going up, but some people may wonder AI might be a bubble, like in the era of a net bubble, so-called, and some people called it internet bubble. AI revolution has just started. A bubble? I think it's an insult of AI if you say it's an AI bubble, because it's just the beginning. AI's potential will be unlocked. In the third year of the internet revolution, if you could go back to the era, like Google, Microsoft, Yahoo, and Amazon back then, maybe those were still startups since their foundation, like a three-year-old. If you could go back that years, you would have bought more shares of those companies. AI, again, is still beginning, and it's been maybe three years since AI was born, and I talked big. AI and ASI will be coming, and we will control the four corners of ASI, the board. That big vision, at least in Japan, nobody else but me talks about that big vision. In the United States, maybe somebody takes control of only one of four corners, but I don't think many leaders try to take control of four corners, every four corner. I'll do. I will do it. I cannot be retired. Two and a half years ago, I lost my daddy. He fought against cancer, and he suffered from pain, like cancer spread from the lung to every corner of his body. I visited him every day, and I spoke with him every day. On the day he passed away, maybe before, two hours before he passed away, he was too weak to talk. He was too weak to talk. I was with my brother, Taizo, visiting him at the hospital, and we cried and screamed, "Don't give up. Don't give up." to my father. He was too weak to say, but he just opened his eyes and said a word. "A tiger leaves behind his skin when he dies, and a human leaves behind his reputation when he's dead." That's the last thing that he said to me. I screamed like crazy. Father and Dad. I often look back the time when he said that right before he died. What did he want to say? When I was a kid, he went back from work, and he enjoyed sake at home. He often said to me when I was little, "You need to make money to live. I will do in my generation, but do you? Don't live a life for the sake of money," he said to me. "Don't live a life for the sake of money. You should live a life to make millions of people happy." He talked to me, he said to me always with tears in his eyes. I talked about goose and golden eggs, but I'm not doing this for the sake of money. Otherwise, my dad would be mad. To make people happy, to make billions of people happy, that's what I want to do with AI and robots. I want to develop technology to make people happy. I want to create AI revolution, ASI, to make people happy. Robots should help people, should help suffer from disease. AI should educate people. AI should make people smile. That, SoftBank is trying to achieve. Count on us, I really, really appreciate your support and help us to do this. I took so much time. I was too passionate. Thank you for your patience and listening. We will begin the Q&A session. The moderator will explain how it will proceed. We will first address pre-submitted questions, followed by questions from in-person shareholders. If you wish to speak, please raise one of the colored papers provided at the receptions so the chairperson can see it. A staff member will bring you a microphone. Please note that each person is limited to one question. Shareholders speaking from the floor are asked to begin by stating only the numbers shown on their admission card. There is no need to state your name. Please stand when asking your question. Keep your remarks concise and limit them to no more than one minute. To allow as many shareholders as possible the opportunity to ask questions, the moderator will provide a reminder when your remarks have reached the one-minute guideline. We will answer online questions submitted today regarding the matters presented at the meeting next. Each online participant may submit one question. The deadline is five minutes from now. Let us begin with pre-submitted questions. The moderator will read them aloud. What is the growth outlook for the company's major business other than Arm? As I mentioned in my presentation just before, AI model, AI robot, and those four corners, one of them is Arm. The three other corners will be blooming from now on. What are the expected ROI and revenue prospects for the data center business, including project in Milam County, Texas? In Ohio, like I said earlier, we are building the number of data centers in the world, like capacity worth 10 nuclear plants. Investment is big, but also we expect a lot of revenue from the data center. We are signing MoU with potential customers. Once official agreement is in place, we should expect a huge revenue. That MoU signing process is underway. We should expect a huge revenue only from Ohio. We can expect many, many golden eggs from only Ohio project. Not only Ohio, but Milam in Texas and other areas. In parallel, we are getting prepared. Also France. Eventually in Japan, we want to extend more. Definitely you should be excited. There are a lot of golden eggs are being laid. What was the strategic rationale for investing in Intel? It's been six months since we invested in Intel. JPY 300 billion we invested. Right after the investment, a lot of criticism. "Why Intel?" People said that. "What happened? What are they looking at?" We've been criticized. Why Intel? Especially among the specialists and those who are familiar with this industry, criticized a lot. In six months, Intel actually became five times or six times bigger. Market cap already seen the bit of in a trillion level. In the world, chips hub manufacturing makers, wafers to chips, that foundry, TSMC in Taiwan is overwhelmingly number one right now. The second is Intel. The third is Samsung in Korea. Intel in the U.S., it is second, but still there is a big gap from the top one. Under the national security initiatives, the U.S. Intel has to be nurtured more, enhanced more. Under such were the circumstances and considering the situation in Taiwan, Intel had to be reinforced and put more focus on. That is why we also invested in Intel. There will be more and more important roles for Intel. Right now you see Apple, NVIDIA, all these big names are signing contract or planning to sign contract with Intel. It has been announced. That is why its share price has increased fivefolds or sixfolds. I answered three key questions pre-submitted. Since there are a lot of shareholders here today in the venue, I would like to take questions from the venue. If you have a question, please raise one of the colored papers. After I call on you, please stand up and state your admission card number only. You do not have to say your name. Are there any questions? My number 1,012. Seven years ago, when we had AGM, you talked about the big vision. It was amazing. Back then, you said year 2040, market cap JPY 200 trillion. I think you are in good progress. Do not you think that you can achieve target well before 2040? Yes. Should come much before 2040. I said JPY 1 trillion 16 years ahead. I believe that we can surpass that target that we set for 2040. We should achieve that much earlier. I have confidence. That is why I said in front of you, "I will do it." Thank you. My number is 0206. I have a question about Physical AI use. In the image I saw is that the Physical AI will be replacing the existing tasks. Do you have any plan to build the Physical AI factory using the Physical AI robots? Yes, I do. I haven't announced officially yet. Already in the existing factory, our robots, Physical AI, actually started already mass manufacturing, mass producing robots. I think it's the very first in the world. AI already started mass producing of AI. I would like to make an official announcement when the right time comes. When the right time comes, you will be surprised, but I will make it happen. My number is two. I want to talk with ChatGPT a lot, but I'm concerned about privacy issue. Mr. Son, I think you may talk with ChatGPT, and you may talk with them about your privacy or personal things. I wonder if privacy protection is in place in your ChatGPT. You have free and paid ChatGPT. I use paid ChatGPT. I don't know difference between free ChatGPT and paid ChatGPT. I talk to ChatGPT every time. At least, paid ChatGPT I'm using has a long memory. Based upon the past conversation, ChatGPT responds back to me. Even though I didn't tell the ChatGPT my name, but the ChatGPT guessed, and correctly guessed, "You are Masayoshi Son." Correct? Whenever I talk to them recently, he said, "Mr. Son, it's not good enough or something." As a serious partner of conversation, my ChatGPT is really helpful. As an OpenAI, as a company policy, your private information, they will not tell your private information to others. Be reassured. My number 874. Well, happiness, information revolution, happiness for everyone. That's the philosophy of SoftBank Group Corp.. About the successor, you said that the successor will be coming from the companies under SoftBank Group and after competition. What kind of system do you think you need to realize that? That's a very important question. Thank you. And to me also, and I've been asking to myself again and again. From outside, actually, outsider does not have deep understanding. That's why I believe that the successor should be from within our group, because I'm not going to live another 300 years. As a company, a corporate culture and the vision and the policy and the philosophy have to be repeated over and over by my successor and its successor and so on. It's been 200 or 300 years since industrial revolution, and this intelligence revolution will continue, last another 300 years. The brain is the most important function in human body. The next 300 years, AI revolution will be the center of the next 300 years or so, where we, SoftBank, is going to concentrate on in order to make everyone happy, which has no need to be changed. This vision does not have to be changed. Under this philosophy, and we would like to have a successor who can maintain these two important pillars of our visions. We have 2,000 group companies, means that there are 2,000 candidates of my successor, and I hope that they'll be competing each other to come out. My number 1,202. I come from Fukuoka, where you created your company. Last year was the first time I joined AGM, and you said you'll be a number one platformer. I brought my wife together with me this year. You talked big vision last year. Also, you talk big vision today. If you surpass NVIDIA, you'd be about JPY 1 trillion. You talked about JPY 1 trillion now, so I think that my wife is convinced. Anyway, for you to become number one, who will be number two? Who would be number three as your contenders? Our rival, if you will, you would imagine, would be the top 10 market cap companies. They have a great capacity, capabilities, and most of them work on AI. The top 10 market cap companies are working on AI in the world. AI or AI-related businesses are those companies. I wouldn't call them rivals. We are much smaller in terms of market cap. In other words, we have potential. We have a tremendous potential. I believe that we can deliver on those potentials, at least take control of four corners. We will start from the four corners of the board game of Othello. It'll be easy to win the game if you start from taking control of the four corners. Again, I will make it happen. Those are the companies that I'll see, the rivals as well as partners. My number 1307. At the time of Lehman Shock, I bought the share of SoftBank Group for the very first time. That was at JPY 700. I did split, and I hold nearly 10,000 shares. Well, I'm earning a lot. To be straightforward, Mr. Son, you have big vision, you have great scale, and I have been a simple housewife, but my son is one of the contributor to Alibaba's. The proposal three, you're nominating nine directors. Election of nine directors. Yes. nine directors. Nomination of nine directors. I wonder if you could nominate my son next year? He is in a cloud business, I would like my son to become like Mr. Son. Yes, if there is I am 1,003. My number is 1,307, once again. Thank you. Okay, I'll remember that. I'll keep that in mind. Next question. My number 638. My question, Arm SCP business, Intel is one of your competitors. According to latest news, NVIDIA plans to create a CPU for a data center. NVIDIA can be your competitor, but what's Arm's strength? Compared to other companies, what is Arm's strength? That's my question. You know good about NVIDIA, AMD, Arm. Strength of Arm, I would say is Arm's power consumption is tremendously good compared to NVIDIA. In the 1st stage of AI evolution, NVIDIA was number one in the area of graphics. At the second stage of AI evolution. Again, the first stage, NVIDIA was number one. Second phase, agentic AI is the key player where CPU plays more important role. In terms of CPU, Arm is the world's number one, Arm will be the winner in the world of CPU. Arm, AMD are good CPU players. AMD copies Intel. It's like a Pepsi to Coca-Cola. That's AMD in the space of CPU. Intel and AMD consume a lot of power to run CPU. Electricity and power is the limitation of the data center capacity because they need more power. Arm has twice as much efficiency, so you don't need much electricity. You need only half of the electricity to perform as good as others. Arm will be the absolute number one. That's why when we acquired Arm, the value was JPY 3.4 trillion back then, but now it's JPY 70 trillion. 20 times bigger than when we acquired. We paid a 40% premium to acquire Arm. Right after we announced to purchase Arm, our share price dropped by 40%, and people said, "You are crazy." I said, "Maybe you don't see." Again, people say it's crazy for SoftBank to buy Arm, but I said, "I look ahead 50 steps beyond. 50 steps ahead." In my mind, I have a vision for 40 steps ahead. Arm will be the winner. Arm has still potential to grow further. Now, maybe I should ask Rene to talk about Arm's strength because Rene is CEO of Arm. That's a very good answer. I don't know what to add on to that. Just to maybe add a few other comments, the growth rate that we are seeing with AI, as we move into the agentic AI era, means more and more compute. When you add more and more agents to everything that's going on with artificial intelligence, all the tokens that are generated, all of the distribution of those tokens, that is only work that can be done by CPU. The work that needs to be done by the CPU needs to be done by the most power-efficient CPU. That's why we are very confident about our growth rate. We're very confident about our opportunity, and I think the best is yet to come for Arm. Thank you. With Rene, I talk to him over the phone or exchange emails on a daily basis, almost every day, especially for these three years. It's amazing. He is amazing, and I believe that we are the best partners. Time is running. I think I've spoken quite a lot. Next questions. My number 740. In the IT industry, the U.S. is leading the industry and Japanese companies. Well, if a Japanese company becomes number one in the AI field, it's so exciting. It's like almost my dream also will come true. When you have actually come close to realize the AI platform. Well, recently, as the government suspended the release of Anthropic's new product, I wonder what will be any constraint. Well, the Anthropic matter, it's not all of the Anthropic products, but a certain services is now banned due to some security issue. A certain model of a certain company may be suspended temporarily. It could be possible, but not AI as a whole. Well, the Chinese ones will be proceeding, moving forward while we are in pause. Well, we have to compete each other and I believe that AI as a whole will not be banned, but some rules need to be made and when you drive a car, you are not supposed to drive when you are drunk, and you have to follow certain rules and under certain discipline, it is possible to use AI as well. Three more questions. 1212 is my number. Gogh painted himself because he was poor. When you were 16 years old, you painted your picture by yourself. I saw it was completely different from what you look like now, the paint looked like he was convinced or he was committed, it's been 50 years, looking at you now, you look like 16-year-old boy, next 50 years, Mr. Son, I believe that you stay like 16-year-old boy, I keep coming back to AGM because I want to keep watching you. I am so impressed. You believe in yourself, you have a strong commitment and convince yourself. I learned a lot from you. Rest in peace for your past daddy. Remain as 16 years old. Spirit-wise, well, yes, definitely young. As young as 16 years old. I went to U.S. for the first time again. I will make it happen. Count on me. Two more. 203. At the beginning of this year, you met President Trump, my mother, who is 80 years old, she is suffering from leukemia, your picture with President Trump with big smile my mother saw that picture how do you look at President Trump? Maybe there is the face that he does not show to public and where you know more. I've met him several times. I believe he is a great person. Of course, media has lots to say, pros and cons, but the person who could become a president of such a big country, he's a great person. Of course, politically, there are many different opinions. What he believes in is that he wants America to prosper, he's 80 years old, he's very healthy, he's very powerful. Even one hour, two-hour media conference, he delivers messages on his own words I believe he is a great person. I sometimes play golf with him I'm a pretty good player, golfer. My best score is 68. I think there are a lot of people who play golf. 68 is quite tough to achieve as an amateur player. I'm a single player, he hits driver quite long distance, his score is always better than mine. He always finishes at score of 70 range. Considering his age, he's physically strong, he eats well, he's very, very powerful, I would like him to stay well. Another question. The last question from the venue should be female. My number 0658. Thank you for that positive talk. My question is about AI infrastructure. You announced a big investment in the U.S. and in France, I believe that you have some plan in Japan. Like you said, data centers location, the power can be potential limitations. To have Tokyo Power as a group company or partner could be significant. Tokyo Power, do you think how much you would need for you to grow further? Tokyo Power, as a next owner of that company, our SoftBank Corp, our telecom business, said they want to be a next owner of Tokyo Power and SoftBank Corp is one of the candidates for the future owner of the company. If or when it comes true, I know we should have data centers in Japan, otherwise we'll be left behind. We don't have enough power in Japan. Too much regulations, to be honest. It takes six years only for application of the permission. In six years, how much AI can advance? If Tokyo Power were to be our group companies, bringing AI data centers back in Japan would be the role that they should play. At the end, I would like to take questions on the Internet. Yep. The questions submitted online, the moderator will read them aloud. Regarding the Physical AI and AI profitability projection, you may have outlook, please. PaaS is a Platform as a Service. Last week or so, we made an announcement together with OpenAI management members. This PaaS model is the technology to identify the cyberattack. This is to protect from cyberattacks. In order to identify cyberattacks, need to have a deeper understanding of that first. OpenAI and Anthropic developed that, and in six months or one year or so, soon China and North Korea or Russia will be launching its copied versions soon. The cyberattack is getting more and more serious issues all over the world in order to protect companies and the country. This is our mission, and this is what we should be doing as our mission. The internet security companies will do as their mission, plus they also have to generate revenue and profit. This business is also profitable as well. This, it's like SECOM, the house and the total security. The services aligned with this kind will be launched more. Total dividend payment is JPY 30 billion, which is too little, I think. Don't you think? Which you prefer, the cash just in front of you or future golden eggs? Which would you prefer? The future golden eggs can be reflected in share price. Getting dividend by cash and share price growing two times, three times. Dividend is what we continue to deliver, but golden eggs or share price, we want to focus more on them as a return to you, shareholders. We need money to grow, please be excited about the future return. Regarding the Stargate plan, do you have a plan to scale? Yes, we do. Stargate plan is an OpenAI and us, OpenAI and Oracle. To enhance the data center and its infrastructure facility investment, which is a way ahead of schedule, and it's under construction. As for us, the data center for OpenAI, but for other hyperscalers which are in need of AI data centers. Align with that demand, we would like to deliver our data center services. We spent a lot of time on my presentation and on Q&A. Let's now move to voting. The moderator will explain how to proceed. Online shareholders, please cast your votes on all proposals and then click the exercise button once. Voting is done in one batch. While tallying the online votes, we will proceed with the in-person vote. We will vote on each resolution. Online shareholders, please cast your votes via the internet. Proposal 1, appropriation of surplus, that is to say, dividend. If you agree, please applaud. Thank you. Proposal 2, partial amendment of the articles of incorporation. If you agree, please applaud. Thank you very much. Proposal 3, election of nine members of the board. If you agree, please applaud. Thank you very much. Please wait while we confirm the voting results. Voting results have been confirmed. Proposal 1 and 3 received majority approval, and Proposal 2 obtained two-thirds majority. As such, all three proposals have been passed as proposed. That concludes the proceedings of this meeting. I hereby declare the 46th annual general meetings of shareholders closed. Mr. Iijima and Ms. Erikawa retire from their roles as members of the board at the conclusion of the meeting. We have received messages from both individuals, which I will now read on behalf of the meeting. We have received the following message from Ms. Keiko Erikawa. I'd like to express my sincere gratitude for all the support I received during my tenure as an external director of SoftBank Group. Although I am stepping down from this position, I am confident that Chairman and CEO Masayoshi Son will continue to demonstrate his exceptional leadership, and sincerely wish SoftBank Group continued growth and success in the years ahead." "I am truly sorry and disappointed that I am unable to attend today's annual general meeting of shareholders. It has been a great honor to serve SoftBank Group over the past eight years during a period of significant change in the world. I would like to express my sincere gratitude to our shareholders for your continued support. Even after stepping down from the board, I'll remain a strong supporter of SoftBank Group and look forward to its continued success as it enters a new entrepreneurial chapter in the age of AI." Thank you so much, both of you, and I appreciate your precious advice. Thank you so much. Here are newly appointed members of the board, Mr. Ohashi and Ms. Ohmori. First, Ms. Ohmori, could you give us a few words? I am Miwa Ohmori. Thank you so much for appointing me. So far, I have been in the financial industry, the trading, M&A, private banks, and corporate banking, also the bond and insurance, where I was in charge of. When I was a junior trader, I experienced bubble in Japan, I experienced the difficult times and in this world. Also, I faced the huge impact, what can impact in the insurance industry as well. The Lehman shocking shock was a huge surprise to me. When my new team was resolved, I had to deal with the structural matters, I had to go through how the risk has to be governed, it was the mixture of all these complication. After Lehman shock, under the U.S. new policy, there was a difficult time for the financial industry in the U.S. To keep balance has been a big challenge for me. SoftBank Group is where I feel very impressed by, because adjusting the direction in a very quick manner. When I see it from the objective perspective, this company has a great passion then keep progressing aggressively. As Mr. Son presented today, with the great vision challenging to the new things, I would be very happy to be able to work with you. Thank you so much. Thank you. Now, please watch this brief video message from Mr. Ohashi. Hello, everyone. My name is Ohashi, and I am honored to assume the position of external board director of SoftBank Group. My professional background spans approximately 50 years at Komatsu Limited, a manufacturing company. In the manufacturing sector, building long-term relationship with client is vital. It is a business that requires a wide range of long-term perspectives. I believe SoftBank Group is a pioneer that will lead the world into the AI era. In this upcoming era, the key challenge will be bridging the real and virtual worlds. In that sense, Physical AI will become crucial. I hope to leverage my extensive background in manufacturing and my long-term strategic perspective to contribute to this area. As an external board director, I am committed to supporting the continued growth of SoftBank Group. Thank you very much. That is really encouraging. New two board members, we are pleased to welcome. Sorry, we ran out of time of my presentation, but I hope that my passion was well understood by you. I would keep talking for another five hours, but we now can close this meeting. I wish I could answer to more questions, but through our business operations, next year, I look forward to seeing you again. The goose. We will play the role as the goose for you. Thank you very much. That will be all for today. Once again, thank you very much for joining us today. Once again, thank you very much for attending today's general meeting of shareholders. Please make sure you have all your personal belongings with you. The exit can be crowded, so please proceed slowly. Thank you once again for your participation.