Thank you very much for taking the time out of your busy schedules to join us today. We would also like to sincerely thank you for your continued guidance and support.

Let me now present an overview of our third quarter results for the fiscal year ending March 2026. First, the consolidated results for the third quarter.

In the third quarter of last year, we were affected by a system outage caused by a ransomware attack. As a result, we lost 13 billion yen in sales and 4 billion yen in operating profit.

For this reason, third quarter results show a significant year-on-year increase in both sales and profits. Net sales were 75.4 billion yen, up 28.1% year-on-year.

Operating profit was 8.7 billion yen, an increase of 7.8 billion yen. The operating margin was 11.5%.

Ordinary profit was 9.5 billion yen, up 8.3 billion yen. Net profit was 7.4 billion yen, up 6.7 billion yen.

Earnings per share were 32.29 yen. This slide shows third quarter results by segment.

The Timepieces segment posted higher sales and higher operating profits, with an operating margin of 19.4%. The Consumer segment also recorded higher sales and higher profits, with an operating margin of 0.7%.

From this fiscal year, businesses previously recorded in System Equipment have been reclassified into the Others segment. Figures for the previous fiscal year have also been restated on the same basis.

Company-wide adjustments amounted to -1.5 billion yen. Next are the cumulative results for the first three quarters.

Net sales were 208.0 billion yen, up 6.2% year-on-year. Operating profit was 18.2 billion yen, up 61.7%.

The operating margin was 8.7%. Ordinary profit was 20.3 billion yen.

Net profit was 15.4 billion yen. Earnings per share were 67.59 yen.

Annualized ROE was 9.1%. Next are cumulative results by segment for the first three quarters.

The Timepieces segment achieved higher sales and profits, with an operating margin of 15.2%. The Consumer segment also posted higher sales and profit, with an operating margin of 4.4%.

Company-wide adjustments were -4.6 billion yen. From here, I will focus on key points in the third quarter results by business.

First, the Timepieces business. Performance was very strong, and the operating margin reached 19.4%.

As mentioned at the previous earnings briefing, new products, including those in new design categories, contributed positively. Sales remained strong during the year-end shopping season.

Regional sales composition is shown in the pie chart on the right. Our dual-brand strategy for G-SHOCK and CASIO WATCH has been effective, contributing to expanded brand awareness among new customer segments.

Next, I will explain third quarter performance by region. As the third quarter of the previous fiscal year was affected by the ransomware-related system outage, we have included comparisons not only with the prior year, but also with the third quarter two years ago for reference.

Overall, on a local currency basis, sales increased 30% year-on-year and 13% versus two years ago. China showed sharp declines in both of the past two years.

Excluding China, sales increased 32% year-on-year and 21% versus two years ago. In Japan, the inbound ratio declined slightly, but domestic demand was strong.

G-SHOCK performed well, driven mainly by new products. In North America, demand for watches was strong.

The year-end shopping season, including Black Friday, saw strong demand both online and offline. We continued to strengthen our direct e-commerce operations, and sales are expanding steadily.

In Europe, CASIO WATCH performed strongly overall. Spain and Italy led growth on a country basis.

There was also some last-minute demand ahead of January price revisions. China sales remain sluggish.

In other regions, both G-SHOCK and CASIO WATCH showed strong growth. In India, part of the Middle East and Africa region, both online and offline sales were strong.

In ASEAN, performance varied by country, but Vietnam and Indonesia led growth. Latin America, the Middle East, and Africa also showed solid performance.

Next, I will explain results and conditions by product category in the Timepieces business. First, G-SHOCK accounted for approximately 43% of sales in the third quarter.

CASIO WATCH continued to perform well globally. In this third quarter, new G-SHOCK products also made a significant contribution during the year-end season.

Details by product category are shown on this slide. Among metal G-SHOCK models, new products performed well globally.

These included GMW-BZ5000, which uses an MIP LCD for superior readability, and GST-B1000, featuring an easy-to-wear minimal design. Among plastic G-SHOCK models, the standard 5600 series saw sales growth among younger customers driven by its retro design.

As mentioned at the previous briefing, a new design category, the ring-type G-SHOCK DWN-5600, has attracted a new fan base. CASIO WATCH continues to perform well globally.

Standard models such as the A159 and new models like the AQ-240 were popular among younger consumers due to their retro and vintage designs. EDIFICE EFR-S108D with a colored dial is popular in Europe and other regions.

In the EdTech business, there was rush demand ahead of price revisions, mainly in Asia. Performance is in line with plan.

In the Sound business, the market environment in Europe and the US remains challenging. The pace of market recovery is slow, and we expect it will take time for demand to return.

Next, I will discuss the full-year outlook. Based on cumulative results through the third quarter, we have upwardly revised our full-year forecast.

For the full year, we have now forecast net sales of 274.0 billion yen, up 4.0 billion yen. Operating profit is forecast at 22.0 billion yen, up 1.0 billion yen, with an operating margin of 8.0%.

Ordinary profit is forecast at 24.0 billion yen, up 3.5 billion yen. Net profit is forecast at 17.0 billion yen, up 2.0 billion yen.

Earnings per share are forecast at 74.53 yen. This slide shows revised full-year targets by segment.

For the Timepieces segment, sales are forecast at 180.0 billion yen, up 4.0 billion yen. Operating profit is forecast at 25.0 billion yen, up 1.5 billion yen.

The operating margin is 13.9%. For the Others segment, sales are forecast at 8.0 billion yen, up 1.0 billion yen.

For the Consumer segment, Sound business sales are forecast at 22.0 billion yen, down 1.0 billion yen. Operating profit is forecast at -2.5 billion yen, a deterioration of 0.5 billion yen.

From here, I will explain our strategies for each business. While CASIO WATCH continues to grow globally and expand sales, G-SHOCK is also showing strong performance, supported by the effects of initiatives implemented to date.

In the Timepieces business, sales for both G-SHOCK and CASIO WATCH are expanding on our dual-brand strategy. For G-SHOCK, we will implement measures by price range.

In the high-price premium line, we will further expand sales with high-price distribution and event-based initiatives. In the high and medium-price range, we will enhance visual quality and develop metal models that represent an authentic evolution of iconic models.

In the medium and low-price range, we will continue to focus on best-selling models. We will also roll out global marketing to raise the appeal of G-SHOCK value to younger consumers.

Next, we will strengthen marketing for CASIO WATCH. First, we will promote higher unit prices.

CASIO WATCH are well supported by customers who value uniqueness through distinctive designs. We will continue to develop products that meet these needs.

In marketing, we will highlight the brand history and heritage of CASIO WATCH. We will also propose styling ideas matched to seasonal themes, delivered in an integrated way through our website and social media.

In priority regions such as ASEAN, we will strengthen outreach to fashion-conscious young consumers to increase brand awareness and favorability. Next, we will look at marketing.

We will continue marketing activities tailored to market characteristics and target users. We will deliver a stronger brand message by synchronizing G-SHOCK with global ambassador XG, which empowers people worldwide with convention-breaking style.

We will also promote collaboration projects using four iconic G-SHOCK model characters designed by world-renowned creator NIGO. Next, regional marketing.

In Europe, we will continue marketing using pan-European ambassador Central Cee, along with local ambassadors in each country. In Japan, we held a Casio pop-up event in December 2025 at The Stage on the first floor of Isetan Shinjuku.

At the venue, we showcased popular products and limited-edition models. For other regions, in India, we will continue marketing using two major partner ambassadors.

We will also expand touchpoints, such as retail stores, from major cities to regional cities. In ASEAN, we will strengthen CASIO WATCH promotions targeting young consumers.

Next, I will explain this year's strategy for the Consumer business. In the Education business, we will expand sales of the highly profitable new ClassWiz models.

At the same time, we will strengthen measures against counterfeit products and stabilize supply to increase market share. We will also continue to create demand in focus countries and expand the use of calculators.

For standard calculators, we will promote sales using the 60th anniversary of Casio calculators as a catalyst. We have also released new user-friendly products with distinctive designs.

For education apps, we will continue to enhance the functions of the comprehensive learning platform ClassPad.net. We will expand adoption by schools through synergies with services from our group company Libry.

In the Sound business, we will continue initiatives to raise brand awareness in high-value-added categories. We will also create new experiential value using new technologies.

We will also continue with structural reforms. The photo shown here features a conversation between world-renowned pianist Martha Argerich and pianist Hayato Sumino, who serves as our electronic musical instrument ambassador.

We have distributed this as video content. Next is a new business area, the AI pet robot Moflin.

Market response has been very strong. It has been well received not only by the initially expected customer base, but also by a wide range of users.

As demand has continued to exceed supply, we have been conducting periodic lottery-based sales on our official website since late 2025. A community of Moflin owners has become active, mainly on social media.

In November 2025, we held an event for owners to mark the first anniversary of the launch. We plan to continue holding fan events in the future.

In response to owner requests, we have also started selling official merchandise. Overseas expansion began in October 2025 in the United States and the United Kingdom.

Next are some highlights. On the left, Casio China received the 2025 Outstanding Corporate Legal Contribution Award in China.

Casio China was highly evaluated for its handling of litigation, and this award recognizes those achievements. The automatic mathematical scoring engine, ClassPad Scoring, which automates grading for math exams and e-learning, received the Ministry of Health, Labour and Welfare Award at the 22nd Japan e-Learning Awards.

Finally, the AI pet robot Moflin won the Grand Prix at the 6th Tsutaya Electrics+ Awards. Next is our capital allocation policy.

We are allocating surplus cash and internally generated cash to growth and strategic investments to drive further growth. Following our investments in Libry and IQ, we are steadily building a track record in new business growth, including an equity investment in and collaboration with TieUp in the communications technology field.

In addition, in order to improve capital efficiency and enhance shareholder returns, the Board of Directors today resolved to allocate 5 billion yen of the 25 billion yen strategic investment budget to share repurchases. The repurchase period will run from January 30th to March 24th, with an upper limit of 3.8 million shares.

All acquired shares will be cancelled on April 30th to eliminate concerns about future share dilution. We will continue to improve capital returns while maintaining a balanced approach to overall capital allocation.

The rest of the slides are supplementary materials. That concludes my presentation.

Thank you for listening.