The fiscal year ended February 2025 was the final year of the 3-year Medium-Term Business Plan announced in April 2022. Our employees had been working together to achieve the goals of the plan and to successfully complete it.

With only two months remaining in the current fiscal year, the results of the third quarter announced on December 27 last year showed that we had been slightly behind the previous year's performance up to the third quarter. This was due to the backlash from revenge spending following the end of the COVID-19 pandemic two years ago and the delayed start of the autumn and winter sales season caused by record-high temperatures. However, since entering the fourth quarter, with the drop-in temperature, autumn and winter product sales have finally gained momentum, and progress has turned around to exceed the previous year.

Based on these results, we have formulated and disclosed on April 14, 2025, a new Medium-Term Business Plan ("New MTBP") for three years starting in the fiscal year ending February 2026, along with the financial results for the fiscal year ended February 2025.　The details of the New MTBP are described in the disclosure documents. The outline of the New MTBP is to envision the ideal state of the company 10 years from now, and then implement various measures that will put the company on a growth trajectory within three years to work towards this vision.　The fiscal year ending February 2026 is the first year of our New MTBP and is a crucial year for gaining momentum toward achieving our goals.　We are committed to putting all of our company's strengths together to achieve the goals of the plan.

The entire management team, with strong determination, is firmly committed to achieving the plan. We appreciate your continued support.