During the first quarter of JSB's eleventh term, Japan's economy was generally improving. This is mainly due to the growth of corporate profits and the recovery of capital investment, which has been buoyed by consumer spending.
In the real-estate industry, it should be noted that many real-estate funds and REIT were established. These funds and trusts are buying good risks not only in metropolitan areas, but also in local areas.
In the history of the parking business industry, it was one of the watersheds that the employer liability for illegal parking was substantially enhanced by the recent amendment of the road traffic acts. As a result, private sectors started assisting the police in cracking down on illegal parking. These changes boost the potential demand for parking spaces and create a business environment quite favorable for JSB. In this environment, we have engaged in a constant effort to expand business. Particularly, we have invested considerable energy to reach potential customers in the metropolitan area of Tokyo.
The maintenance department for the coin-operated parking system has been committed to establishing new parking structures in the best locations in each of the territories of the branch offices. As for the existing parking structures, this department has out effort into increasing their operation rates. These efforts have paid off and the business has made a good progress. This department also landed many package contracts of the parking management system.
The sales department for the coin-operated parking system has made good progress especially in the metropolitan area of Tokyo. This department increased the number of maintenance stuff and attempted to offer better after-sales care to customers. By virtue of this enhancement, we can now administrate more parking structures than ever before.
The department for asset management has purchased many profitable real estates and tried to improve the earnings from rentals. This department has made great efforts to open as many fitness clubs with our BEAUTO system as possible. As a result, three BEAUTO studios opened during the last quarter.
Our total sales during the first quarter of the eleventh term were 1,113,836 yen, which were increased by another 32.1% compared with the previous quarter.
The segmental sales breakdown is as follows:

The second quarter has already begun. Our business performances generally keep improving as planned. In particular, the BEAUTO fitting system is much in demand. We opened a model house with the BEAUTO fitting system. We hope that this opening of the model house will promote the sales of the system.?
We will continue to explore the most efficient way to utilize idle lands and buildings and to meet the variety of customers' needs. It will be our privilege to be of any service to you.???
We are now energetically advancing the preparation for IPO. Due to the recent scandals of listed companies, the enhancement of CSR, and the stock market slump, the Financial Services Agency tightens listing requirements. In response to this change, we have strengthened the cooperation with our manager, auditing firm, and the exchange. We trust that you can appreciate our best efforts.