Operator

Thank you for taking the time to join the Renesas Electronics First Quarter 2026 Earnings Conference Call. Simultaneous interpretation is available during the call. Please click Interpretation icon at the bottom of the screen and select a language. At this time, speakers are asked to turn the video on.

Joining me on the call today are Hidetoshi Shibata, Representative Executive Officer, President and CEO; Shuhei Shinkai, Senior Vice President and CFO; and some members of the staff. After initial remarks by Mr. Shibata, the first quarter results will be presented by Mr. Shinkai, which will be followed by Q&A session. The earnings call is expected to last for 60 minutes. The materials that will be presented are the same as those posted on the IR page of the company's website. Shibata-san, please turn on the microphone. The floor is yours.

Hidetoshi Shibata
President, CEO, Director & Representative Executive Officer

Good morning. This is Shibata speaking. The earnings results this time had the effect of the divestment of the timing business during the period. Because of the decision to divest the timing business, it may be more difficult to understand the numbers than is the case usually. Later, Shinkai-san will explain and would like to provide a thorough information so that apple-to-apple comparison is possible as much as possible.

All in all, I believe