Good afternoon, everyone. I am Wakatsuki, Co-President of Nippon Paint Holdings. Thank you very much for joining us today despite your busy schedules and the short notice. I will now explain our acquisition of AkzoNobel's Decorative Paints business in Southeast Asia. We are also joined today by members of the media. Slide number two. First, let me summarize the acquisition. on October 3rd, we entered into a definitive agreement to acquire AkzoNobel's Decorative Paints business in Southeast Asia for $1.35 billion. The transaction covers the Decorative Paints business in seven countries including Vietnam, Indonesia, Malaysia, and Thailand, and includes the acquisition of the Dulux brand in the region, which we already own in Australia and New Zealand. In a nutshell, this is a strategically significant bolt-on acquisition that adds new brands, a broader customer base, and manufacturing and R and D capabilities to our already strong business platform in Southeast Asia. It is not an asset assembly acquisition like AOC. As you know, through the NIPSEA Group, we have built a strong distribution network brands and supply capabilities across Southeast Asia and have achieved strong growth in the region. By adding brands such as Dulux, Maxilite, and Aquatech, together with customer touchpoints across both retail and project channels, we can further strengthen our business platform in terms of both geographic coverage and sales channels. Through this acquisition, we will acquire the businesses, brands, and operating footprint as an integrated platform and combine them with our existing network. We therefore believe this is an acquisition of considerable strategic significance. In terms of the financial impact, we expect the acquisition to be EPS accretive from the first year and including synergies for ROIC to exceed WACC by the third year. The acquisition will be funded through bank borrowings and cash on hand with no plans to issue new shares. As we have consistently emphasized, M&A is not an end in itself. From the perspective of MSV or maximizing shareholder value, our key criterion is whether a transaction can sustainably contribute to EPS growth. Slide number three. Let me provide an overview of the acquisition. The transaction covers the Decorative Paints business in seven countries, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Australia, and Papua New Guinea. Please note that in Indonesia, we will acquire 100% interest in AkzoNobel's Decorative Paints joint venture. This will be a separate transaction from the share acquisitions and business transfers in the other markets. The transaction also includes three manufacturing sites and one R and D center in Malaysia. For 2026, the target business is expected to generate revenue of over approximately $330 million with an EBITDA margin of approximately 26%. The acquisition price is $1.35 billion, representing a multiple of approximately 16 x forecast 2026 EBITDA. This valuation reflects not only our assessment of the intrinsic value of the target business, taking into account its growth potential, but also its market position, brand strength, growth prospects, and the significant synergies expected from the acquisition. The valuation approach therefore differs from the multiples applied to asset assembly acquisitions. Closing is expected in mid-2027, subject to obtaining the necessary regulatory approvals in each country and completion of the carve-out process. In Indonesia, where the transaction involves the acquisition of the joint venture, closing is expected by the end of 2026, ahead of the transactions in the other markets. While the transaction will take some time to complete, ensuring business continuity throughout the transition period will be our highest priority. Next, page four. There are four key strategic rationales for this acquisition. First, the acquisition will further strengthen our business platform in Decorative Paints, one of our core businesses. We already operate in each of these markets, making this a strategically significant bolt-on acquisition that builds on our existing platform in a region we know extremely well. The second is the brand portfolio led by Dulux. By combining brands such as Dulux, Maxilite, and Aquatech with our existing brands, we will be able to address a broader range of customer needs with an expanded product portfolio. Third is the expansion of our customer base in the fast-growing Southeast Asia market. The target business has customer touchpoints across both retail channels through small format and large format stores, and project channels serving developers and contractors. By combining our distribution network with the target business' project acquisition capabilities, we will drive cross-selling and new customer acquisition. We will also integrate the three production sites and R and D center into our existing network to strengthen supply capabilities, product development, and color services. Fourth, we expect to realize tangible synergies by combining these valuable assets of AkzoNobel's Decorative Paints business with our existing network. Decorative Paints is an inherently local business where the integrated local management of brands, distribution networks, and supply capabilities is a key source of competitiveness. We therefore believe this acquisition is highly strategically aligned as it enables us to leverage the strong regional platform we already have in place. Next, page five is an overview of the target company. The target is a leading business in Southeast Asia's decorative paints market, operating primarily around its core Dulux brand. Its distribution channels consist of retail via small and large stores, and projects for developers and contractors. Operating both seamlessly, it features wide customer touch points. Financially, in 2026, both revenue and EBITDA are projected to grow, with an expected EBITDA margin of about 26% for the 2026 forecast, which is well above our group average. We place high value on the Dulux brand's competitiveness, customer base, and regional hubs, alongside the actionable value creation potential when combined with our existing business. Slides six to seven explain the post-acquisition growth strategy, synergy creation, and the integration approach. The key point is not simply adding the acquired business to our existing operations, but combining it with our business foundation in Southeast Asia to maximize value across production and procurement, brand and products, and sales channels. Regarding brands and products, we will clearly position Dulux, Maxilite, Aquatech, and our existing brands according to customer segments and product characteristics. This will enable us to address a wide range of customer needs, leading to an improved product mix and the introduction of new products. By country, particularly in Indonesia and Vietnam, we will expand our dealer network, strengthen product supply to existing stores, and establish a supply system close to demand areas. After establishing business foundations in both countries, we will expand step by step into neighboring countries. On the cost side, by advancing joint procurement of raw materials and supplier consolidation, operational optimization of production hubs, reorganization of logistics networks, and efficiency gains in overlapping or shared functions, we expect annual run-rate synergies of high single-digit percentage or more of net sales. This acquisition is not about creating a market from scratch, but a bolt-on M&A that combines our existing Southeast Asia network with brands, products, channels, and production and procurement functions. To ensure early realization of synergies, we will proceed with integration in a phased manner. Next, page eight. Let me also explain the Nippon Paint Group's business portfolio after this acquisition. By adding AkzoNobel's Southeast Asia business, the adjusted operating profit breakdown, excluding NIPSEA China, is projected to rise from 29% for actual 2025 to approximately 31% on a pro forma basis for the 2026 forecast. This further enhances the presence of the segment, which already outperforms China in growth rate, profit composition, and margins, resulting in a more geographically diversified business portfolio. However, as we have consistently stated, our goal is not simply to change the portfolio composition. What is important is that while each region continues to grow autonomously, this acquisition leverages our established foundation in sales, supply, and brand management in Southeast Asia to further enhance the profitability and cash generation capacity of the acquired business under our group. I will also explain the financial aspects using slide nine. This acquisition is projected to positively contribute to EPS from the first year, and with synergies included, ROIC is expected to exceed WACC by the third year. Regarding the EPS outlook, as some items are currently under review, we will appropriately disclose specific figures once finalized. Regarding ROIC, we will continuously manage post-integration profits and invested capital, setting a target to exceed the cost of capital by the third year. This outlook includes synergies and is premised on the steady execution of initiatives in procurement, production and logistics, sales, and SG&A. Therefore, synergy progress will be strictly managed from both revenue and cost perspectives. The funds will be covered by bank borrowings and cash on hand, with no new share issuance planned. Pro forma net debt/EBITDA at the end of 2026 is projected to be around 2.8 x. This remains at a level that maintains credit ratings and financial soundness, and we will continue to secure sufficient debt capacity for capturing new investment opportunities through the cash generated by both the acquired and existing businesses. Lastly, page 10. Let me look back at our track record. Since 2018, we have achieved significant compounding of EPS through a combination of M&A and organic growth of existing businesses. This acquisition is positioned as an extension of this solid M&A track record. This acquisition is a bolt-on type premised on collaboration with our existing foundation, and it strengthens the Southeast Asian brand, sales, supply, and R&D capabilities possessed by our group. Moving forward, we will continue to acquire superior assets, respect each other's strengths, and enhance value by combining them with our existing platform, thereby pursuing sustainable EPS growth and the realization of MSV. Thank you very much for your attention. This concludes my brief explanation.