Thank you, Ms. Cobden, from FPAC.
We have another witness who was supposed to be here. He sent an e-mail to the clerk saying he was having difficulty with the flight. I can't imagine that; I've never had that happen personally. I'm sure none of you has. He isn't here yet, but if he arrives, we'll find a logical break in the questioning and go to his presentation.
In the first round, the seven-minute round, we have Mr. Trost, Mr. Julian, and Mr. Hsu.
We'll start with Mr. Trost, please.