The recession that the financial crisis triggered certainly affected operations. But sales were basically unchanged, as we steadily completed orders received in the previous year and the first half of the term. We nearly reached the targets we set at the start of the year, notably by enhancing construction efficiency and cutting indirect costs.    Gross income rose because we leveled out the numerous projects under way from the beginning of the year and because we flexibly allocated personnel among departments and regions. Operating income rose significantly, as we more efficiently managed internal business systems that we updated in fiscal 2007, optimized our sales force, and lowered costs, thus constraining selling, general and administrative expenses. But net income fell, mainly because of a loss on valuation of investment securities and higher tax rates. In our Telecommunications Infrastructure business, all carriers maintained stable capital investment levels, so we stepped up marketing and expanded our business scope by strengthening our nationwide construction and maintenance structure. We also broadened our upstream and downstream construction capabilities, notably in terms of planning, design, operations, and maintenance. Nonetheless, total orders were down from a year earlier because a recession from the second half of the year reduced capital investment demand in the private sector.    Our ENGINEERING-SOLUTIONS business encompasses NTT Group engineering, Non-NTT Telecom engineering, and Environmental and Social Infrastructure engineering. In NTT Group engineering, we received more electrical work to support the deployment of next-generation networks, or NGNs. We attained our targets in mobile engineering by undertaking projects for equipment upgrades and new frequency bands. But engineering work was down overall, as growth in access engineering projects was less than we envisaged.    On the other hand, Non-NTT Telecom engineering covers such customers as new common carriers, railway companies, cable television companies, and national and local government agencies. Network integration orders declined, as private companies reduced their information technology spending. Still, overall orders increased because we boosted our share of work for KDDI's au mobile carrier by setting up a nationwide construction structure for that customer. We additionally did well in info-communications projects for railway companies and municipalities.    We responded to intense competition in the Environmental and Social Infrastructure engineering business by focusing on sales activities that prioritized order profitability. We performed well in fields where the Group's technological prowess shines. Achievements included constructing, operating, and maintaining waste-disposal plants for local governments, building photovoltaic generating facilities and electrical facilities for data centers, and laying electrical and telecommunications cable in underground conduits. Orders declined, however, with slowdowns in private-sector projects.    In the SYSTEM-SOLUTIONS business, which includes commissioned software development and billing solutions, we concentrated resources on areas in which we can add value and have a competitive edge. We thereby expanded our business and cultivated new customers. Commissioned software development orders from carriers and other customers were strong. Overall orders declined, however, as corporate information technology spending stagnated amid the recession. Most people consider telecommunications a defensive sector, yet the global recession affected it. Consider the NTT Group's medium-term management strategy, which in fiscal 2004 targeted 30 million optical fiber access subscribers by 2010. The objective dropped in fiscal 2007 to 20 million subscribers. The NTT Group no longer discloses a target. So, one assumption we made when formulating our current plan in 2006 no longer holds true. At the same time, we have exceeded our profitability improvement goals.    Precisely because the outlook for the operating environment is so unclear, now is an excellent opportunity for us to build a management structure in which we can steadily generate profits in any business environment and respond flexibly to changes in our circumstances. Fools say they learn from experience; I prefer to learn from the experience of others. Consequently, we will be closely monitoring changes in the business environment to identify new opportunities. As ubiquitous networks become mainstream in society, the government is pushing ahead with strategic initiatives to strengthen the global competitiveness of the nation's information, technology, and communications industries while deregulating telecommunications and broadcasting. As progress in broadband ubiquitous technologies keeps driving info-communications services, convergence between fixed, mobile communications, and broadcasting is accelerating. Municipal governments are increasingly building info-communications infrastructures to revitalize local economies. In fixed-line communications, Optical fiber access is growing, while the NTT Group is constructing fast, high-security NGNs.    Video services would be one promising fruit of NGNs. As they take hold, these services are moving from fixed to mobile communications platforms, and should soon become available on digital broadcasting networks. In mobile communications, construction is proceeding for high-speed packet access, WiMAX, and other fast wireless networks that will lead to more diverse and sophisticated services. The spread of such technologies and the new services they enable should enable us to broaden our business scope. First, we are boosting our upstream and downstream business reach. Our core competence is construction, and we are expanding upstream in planning and development while doing more downstream in maintenance and operations. Full coverage at both ends of the business spectrum will empower us to offer more high-value-added services. Such businesses are impervious to capital investment swings, so they offer stability. Upstream and downstream operations account for about 3% of net sales, and we aim to double that revenue contribution within two years.    Our second priority is to increase our share of construction for the KDDI Group's au mobile carrier. We started serving au about five years ago, so we were a latecomer among the several dozen companies doing business with that carrier. But in fiscal 2008 we won accolades in the KDDI Group's satisfaction survey of key vendors. The solid trust we have built with au and elsewhere within the KDDI Group make us confident of further construction share growth.    Third, we are equipping ourselves for the construction of new base stations employing Long-Term Evolution, or LTE technology. The Ministry of Internal Affairs and Communications has announced that four mobile carriers likely to receive LTE bandwidth are planning total capital investments exceeding ¥1 trillion. One of these four companies, NTT DoCoMo, has earmarked ¥343 billion for its commercial LTE services, which it intends to launch in December 2010. We are training and securing engineers to serve new demand for base station construction and thereby broaden our operations. In fiscal 2009, we will work to improve safety, quality, costs, and delivery while building a more collaborative corporate culture congruent with our commitment to creating growth foundations by strengthening the management of the entire Group. We are also endeavoring to implement our initiatives more swiftly to produce results more quickly. For example, we have strengthened ties between our sales and construction units early in the process of filling orders, optimally deploying our people to departments and Group companies as needed to streamline project processes. For all this to work, it is essential to reinforce monthly administration and clarify what is happening at sites. We are accordingly taking full advantage of internal business systems that we revamped in fiscal 2007.    We acquired a building for the Tokyo Integrated Engineering Center in April 2009. The goals were to strengthen Group management, share the premises with other Group businesses, and employ our human resources more efficiently. This move has cut our annual rental costs by ¥500 million, and should boost efficiency by housing both parent and subsidiary engineering operations. In September 2009, we plan to make KANAC Corp. a wholly owned subsidiary through an exchange of shares. This change should bolster our nationwide construction structure and enhance our construction capabilities in Shikoku, thereby improving Group synergies. We have deployed an operating officer system so we can better meet the challenges of swift changes in the business environment. We thereby shifted roles operating from the Board of Directors to such officers. The Board of Directors can thus focus on monitoring implementation.    As the Company is a going concern, it is our duty to keep producing results. But how we reach our goals is also important, and that is where our true capabilities and value lie. So, while the Companies Act mandates three statutory auditors, we have five statutory auditors, two internal and three external. Down the track, management will have to make decisions more transparently. We accordingly maintain Nomination, Internal Control, and Compensation committees that deepen deliberations on issues and report their findings to the Board of Directors. Earnings per share is a priority management benchmark, and we are one of the best performers in our industry in that regard. We will continue to focus on earnings in the medium and long terms to enhance shareholder value. We held cash dividends at ¥20 per share in fiscal 2008. We will draw on our stable free cash flow to set up engineering centers and other facilities and drive efficiency and profitability. At the same time, we will maintain sufficient retained earnings to expand operations and keep paying dividends stably.    In July 2009, we reduced our minimum stock trading unit from 1,000 shares, to 100. I think that this change should broaden our individual investor base and increase the overall number of shareholders while boosting the liquidity of our stock.    As a leader in info-communications network engineering, the KYOWA EXEO Group will endeavor to become a highly trusted and transparent operation for its shareholders and other stakeholders. We look forward to their ongoing support and encouragement as we aim higher in pursuit of the EXEO Way.