The fiscal year ending February 2024 was the second year of the 3-year Medium-Term Business Plan announced in April 2022. Based on the results for the fiscal year ending February 2023, which was the first year of the plan, we worked together to establish the foundation for achieving the final year target.

The COVID-19 pandemic, which had forced us to take severe measures for the past three years, gradually subsided, and the social environment became back to normal after the transition to the Category V Infectious Diseases in May last year, and the market recovered. Against this backdrop, our sales also remained firm throughout the fiscal year.

As a result of the business restructuring that we continued to promote during this period, we made further progress in reducing inventories, increasing the full-price sales ratio, and improving the gross profit margin. Consequently, we were able to close our financial statements for the fiscal year, with both sales and profits reaching their original targets and almost achieving the revised targets announced in October of last year.

The fiscal year ending February 2025 is the final year of the Medium-Term Business Plan, and we believe this is an extremely important fiscal year in which we should accomplish the plan. We are committed to continuing to put all of our company's strengths together to achieve the goals of the plan.

The entire management team, with a strong determination, is committed to achieving the goals of the plan, and we appreciate your continued support in the future.