If we look at this from a different angle, in our business, if we can expand our installed base in accordance with the total population, the ultimate business potential should be decided by how many people populate the market. The population of Japan is 127 million, the U.S. is 308 million and Europe is 335 million, just with the populations of the countries where Nintendo’s local subsidiaries or its offices are located. The entire EU has 493 million inhabitants.

In Japan, already more than 25million DS are sold, and with the launch of DSi, we are still aiming to grow this figure. So, the ultimate potential based in accordance with the sheer population would be….

It can be said that the U.S. has 2.5 times as much the potential of Japan, and Europe has even bigger, undeveloped potential. Of course, they are theoretical potentials and not the actual demands of today. The fact is, the current European game market potential is smaller than that of the U.S. This is because the ratio of people who enjoy video game in Europe is still less than those in the U.S. and in Japan. However, since the European market has grown rapidly in the last two years, and portable game market has come close to the level of the U.S., the situation is changing. When we consider the potential of each country in the entire EU, we should be able to find the further potential. Adding to them are the potential to be cultivated by DSi, and the potential with the emerging countries. I don’t think it is appropriate to conclude that DS is reaching its final stages on the market and that the market will be saturated in the next fiscal year.

The drastic changes in the economic climate, particularly the sharp rise in Japanese yen’s appreciation, greatly affected our business environment as we have a high ratio of overseas sales. Fortunately, Nintendo has been warmly supported by a number of customers worldwide, and our businesses with DS and Wii remain robust and have been able to generate fair profits despite today’s overall economic situation. However, what matters most in our business is not necessarily the effects of the changing economic conditions, but whether or not we are able to provide customers with new proposals and services that are hard to resist one after another before they bore of the old ones. The former president of Nintendo, Mr. Hiroshi Yamauchi, often told us, “In the entertainment business, there are only heaven and hell, and nothing in between,” and “as soon as our customers bore of our products, we will crash.” We’d like to bear his words in our hearts and try to promptly introduce you to a variety of new proposals one after another that offer customers fresh surprises in order to overcome today’s difficult economic situation.

Thank you for listening.