※Please describe initiatives and status of deliberation regarding "initiatives for realizing management conscious of capital costs and stock prices." Our Company prioritizes the allocation of management resources based on an appropriate understanding of our own capital cost for sustained enhancement of enterprise value. In the 88th fiscal year (fiscal year 2025), we completed the final settlement of debt that arose during the COVID-19 pandemic and eliminated significant events related to the going concern assumption. Based on this, we believe we have clearly transitioned from "defending our financial foundation" to "growth investment." At present, while our medium-term management plan is under development and specific details cannot be disclosed, our basic management strategy will pursue "construction of a robust network emphasizing capital efficiency" as the axis of growth, implementing the following strategies: Promotion of asset-light strategy: By combining operational management (MC) contracts and master lease agreements, we will achieve high capital efficiency while minimizing investment burden. As a result, we aim to establish a "30-facility system in 5 years," targeting a 30-hotel system in the medium term. Regarding our capital cost (cost of equity), we recognize that in analysis on external investor information sites, it is estimated and displayed at approximately 8% overall, with practical WACC (weighted average cost of capital) at approximately 5%. We continue to conduct our own calculations for capital cost; however, we recognize that the correlation between our stock price movements and market indices (TOPIX, etc.) is low. In particular, stock price fluctuations have been significant in the past two years, and purely theoretical calculated values may not necessarily accurately reflect the required rate of return expected by shareholders. Therefore, at this time we refrain from publicly announcing a specific calculated value as a fixed management target, maintaining the figures as reference values. Going forward, we will align our perspective on the appropriateness of the "required rate of return" expected by investors through direct discussions with stakeholders, including institutional investors currently holding our shares, and deepen management conscious of capital efficiency.