In the fifty years since Daiwa House Industry Co., Ltd. was established in 1955, Japanese society has experienced remarkable change. The nation has experienced high economic growth, an economic bubble and a prolonged recession after that bubble burst. Daiwa House Industry has also expanded its operations substantially, from housing into commercial construction, resort hotels and home center businesses. It has grown to become a group of 43 companies in domestic and overseas markets and sales in excess of ¥1 trillion. Over the last few years, we have been putting into place a new group management structure that enables the company to adapt to Japan's constantly changing social climate. Viewing this as an opportunity, we aim to win enduring customer loyalty for our brand and raise our profile among the general public. As we work to realize our ambitions for the future, we will retain the pioneer spirit we cultivated at our founding, and will uphold our commitment to co-creating a brighter future, constantly aware of the crucial social impact of our housing and construction operations. In this way, we will rise to meet the challenges facing Japanese society.