It is my honor to have been appointed as the new president and CEO of Daiwa Securities Group.

Looking at the economic and financial trends in our country, it appears that we have transitioned to a new phase, moving beyond the deflationary stagnation period known as the "lost 30 years." Against the backdrop of mild expected price increases, strong corporate performance, and normalization of interest rate environment, there are expectations for further improvements in corporate governance and capital profitability of Japanese companies.

Discussions on the new NISA system and "Promoting Japan as a Leading Asset Management Center" reflect the significant trend towards shifting from savings to investments. It is a sobering responsibility to have been appointed as the President and CEO of the Daiwa Securities Group considering the crucial role that financial institutions and capital market participants, including our group, play in the society within this economic environment.

This fiscal year marks the beginning of a new medium-term management plan for our group. While inheriting the significant direction of diversifying and stabilizing revenue structure through transitioning to a wealth management business model and expanding hybrid businesses, we will reaffirm the role that our group is expected to play in the society and chart a new course for the group.

We also work on enhancing SDGs finance to solve social issues and to develop future society and financial and capital markets. The entire Daiwa Securities Group strives to engage in the creation of a new cycle of funds for the realization of a sustainable and affluent society in order to be a necessary presence for all stakeholders.

We would like to express our deepest appreciation to our shareholders for your continued support.