Unknown Executive

Ladies and gentlemen, esteemed investors and analysts, thank you very much for taking time out of your busy schedules to join today's earnings conference call for MS&AD Insurance Group Holdings, Inc. My name is Hayashi from the Investor Relations Department, and I will be serving as the moderator for this session. I appreciate your kind attention and look forward to your participation.

Today, in addition to myself, Hayashi, we are joined by Mr. Nakayama, General Manager of Accounting as well as members from the Investor Relations and Accounting Department. The presentation materials are available on our company's website under the Investors section, specifically in the IR Events area listed alongside the earnings release and the other related disclosures for the fiscal 2025 full year results. Please have these materials at hand as we proceed.

Please note that the results for fiscal year 2025 are presented in accordance with Japanese accounting standards, while the forecast for the fiscal year 2026 are based on IFRS. As with our previous conference calls, we have included a summary of today's presentation in the materials. Therefore, at the outset, I will focus only on the key points, and we will dedicate most of the session to the Q&A. We aim to conclude the entire meeting in approximately 45 minutes, and we appreciate your understanding.