Tetsuya Otake.

Hello, everyone. Welcome to the financial results conference call for the fiscal year 2014 first quarter. I am Nobukatsu Takano [ph], from the Accounting division of Toyota Motor Corporation. Today, we have Mr. Tetsuya Otake, Managing Officer in charge of the Accounting Group of Toyota Motor Corporation; and Ms.

Keiko Morita [ph], our interpreter, with us. The agenda of today's conference call is as follows. First, Mr. Otake will briefly discuss the highlights of Toyota's earnings results. And then Ms. Morita will take over the rest of the presentation. This will take about 10 minutes. After the presentation, you are welcome to ask questions.

Please note that the presentation contains forward-looking statements that reflect our current expectations, and our actual result may be materially different from these statements.

A complete cautionary statement concerning forward-looking statements is included on Page 2 of today's presentation material, and a complete cautionary statement concerning insider trading is included on Page 3. Both of the statements can be downloaded from our Internet homepages. Now I'd like to turn the call over to Mr. Otake..

Thank you for joining us today. This is Tetsuya Otake. I would like to discuss Toyota's financial results for the 3 months through June 2013. Please see Slide 5. Our consolidated vehicle sales for the first quarter of this fiscal year decreased by 37,000 units to 2,232,000 units compared to the same period last year.

In Japan, where the new Crown, which was launched in December 2012, and the new Lexus IS, which was fully renewed in May, are being extremely popular. Our sales, nevertheless, decreased from the first quarter of the last fiscal year, when the eco cars subsidies boosted demand.

In North America, on the other hand, where the new car market has been solid, our sales have been growing, driven by RAV 4 and Avalon, among others. In Europe, our sales decreased as a result of the sluggish market.

In Asia, our sales decreased as well, mainly as a result of declined sales in China, a slowdown of the economy in India and the expiry of the first-time car buyer tax rebate in Thailand. For your information, the fiscal year end in December in China. Hence, the first quarter results for China represents the period from January to March 2013.

In other regions, sales increased due to solid sales in Central and South Africa -- America, the Middle East and Africa. Please see Slide 6.

Our consolidated financial performance for the first quarter resulted in net revenues of JPY 6,255,3,000,000, operating income of JPY 663.3 billion, a pretax income of JPY 724.1 billion, and a net income of JPY 562.1 billion. And now I'd like to hand the rest of today's presentation over to Ms. Morita, our interpreter..

net revenues, JPY 24 trillion; operating income, JPY 1,940,000,000,000; pretax income, JPY 2,030,000,000,000; and net income, JPY 1,480,000,000,000. Please note that we maintain our assumption on the foreign exchange rates of JPY 90 to the U.S. dollar, and JPY 120 to the euro from July onwards.

On the full year basis, based on the actual exchange rates for the first quarter, we are assuming JPY 92 to the U.S. dollar and JPY 122 to the euro. While paying close attention to the conditions in each market and taking measures flexibly in response, we plan to continue our efforts to improve the company's profit structure.

Finally, please look at Slide 14 for our revised forecast of CapEx, depreciation expenses and R&D expenses, based on the revised Forex rate assumption. This concludes my presentation on the financial results for the first quarter. Thank you very much for your attention..