Trend Micro Incorporated

So this is the first quarter summary result. The revenue has grown by 2%, and the operating profit has increased by 24%, and the operating profit margin is growing nicely. And we will be presenting another slide to explain this in detail, but out of this operating profit, due to the stock price increase, there are some remuneration linked to the stock price is included here. So if the stock price does not go up, then practically there is an increase of 34%. But the recurring profit minus 9% main reason is due to the translation loss of the exchange rate. Because of the lower dollar, higher yen, there was some translation loss, and that is posted here. And this pre-gap is minus 8%, and this is totally different from the previous quota. So what is happening?

So that is explained by using this slide.

and that is mainly coming from the consumer business of minus 27%. And the reason for that, well, already in the fourth quarter, last fiscal year, as we have explained in the earnings results meeting, there is an EC payment processing company overseas, a digital company, and And this function is non-functional effectively. So in order to avoid any inconvenience to our customers, we have extended the renewal license by two months. So two months in the first quarter for overseas, there is almost none of sales posted there. But in May, we have replaced with a new vendor, and the venue has started to be posted. We are going to go back to the normal in May. So there is no changes after May. So that's the major reason for this big drop in consumer. And as I have mentioned earlier, the increase in stock price, 1.2%. So there's a variable bonus or the renovations included here. So in reality, there is an increase of a profit by 34%. And this is the full year forecast for the first quarter. we are in line with our plan for the revenue and the operating income. In the pre-gap, as I mentioned earlier, the fourth quarter last year and the first quarter this year, there is a very big gap. And Kevin will explain about this later on. The revenue for the enterprises, there is uncertainty in macro environment, and that has been impacting the first quarter result, we believe. And then enterprise ARR, the subscription has seen a double-digit growth, and the details will be explained by Kevin later on.