Since opening the first Toyoko Inn in the Kamata district of Tokyo in 1986, Toyoko Inn has set the standard for business hotels in Japan and grown into a hotel chain with more rooms than any other in the country. In FY2024, the company posted revenue of 143.9 billion yen and served a total of 25.32 million guests at domestic and overseas locations. We have over 7.7 million Toyoko Inn Club Card members, a testament to the loyalty of our customers. Thanks to your support over all these years, Toyoko Inn will celebrate its 40th anniversary in 2026. When our first hotel in Kochi Prefecture opens in this landmark year, Toyoko Inn will boast a truly nationwide network covering all 47 prefectures in Japan. Under our business model, a local entity builds and owns the hotel, which is then leased in its entirety by Toyoko Inn and operated under our brand. Through the owners, we connect with everyone in the community, including local chambers of commerce, and gain a wealth of information that we share with our customers. We also hire managers and other staff members from local communities, and now count more than 19,000 employees in Japan and around the world. During disasters such as major earthquakes and the COVID-19 pandemic, our staff continued to operate the hotels for the benefit of those affected in the local disaster-stricken areas, fulfilling our mission as part of the social infrastructure.

We are grateful to the hotel owners, local residents, and all employees for their support, and are renewing our commitment to continue growing together. In FY2025, we will launch our medium-term management plan "TARGET 2027: Toyoko Actions for Growth and Engagement toward 2027" to lay the foundation for achieving our long-term vision of 300 billion yen in global sales, 100,000 guest rooms, and 80% occupancy by 2033. Amid an ever-increasing number of competing hotels in Japan, we at Toyoko Inn value our loyal customers and hope to earn their trust and be an integral part of their travels with our commitment to consistent pricing, excellent hospitality, and the most convenient locations. We will also focus on expanding overseas in pursuit of further growth. Again, we would like to express our deepest gratitude for your patronage and support over the past 40 years, and promise that Toyoko Inn will continue to evolve. With our pioneering spirit and sincere consideration for our customers, partners, and local communities—the hallmarks of Toyoko Inn—we aim to become a company that lasts more than 100 years.