【Measures toward realizing management with awareness of capital costs and stock prices】 Our company positioned the period from the fiscal year ending March 2018 as a foundation-building phase, reformed our company-wide profit structure, and realized a transition from the declining earnings trend through March 2017 to a generally increasing revenue and earnings trend. From the fiscal year ending March 2022, we transitioned to a growth phase based on our foundation-building efforts and have advanced inorganic business initiatives including the M&A of HobbySearch Co., Ltd. Through this reform, financial indicators such as PBR and PER, as well as stock price, have reached high levels. We are also responding to management that considers capital costs and stock prices, conducting analysis and evaluation of capital profitability and market valuation at least once per year, and disclosing the results in our earnings briefing materials. The basic policy for indicator improvement is to enhance medium-term corporate value through growth in both organic and inorganic businesses. This growth strategy is also disclosed in our earnings briefing materials. Additionally, our company considers ROE (return on equity) and ROIC (return on invested capital) as important indicators of capital efficiency. However, we are currently in a growth phase, and in pursuit of medium-term corporate value enhancement, we may accept temporary declines in ROIC and ROE by prioritizing growth investments. However, as a listed company, we have established as one indicator the creation of ROIC exceeding WACC and ROE exceeding equity cost, ensuring that we do not impair medium-term corporate value and shareholder value. Currently, these targets are being achieved.