Asia accounts for approximately half of the world's paper and paperboard production and consumption. Since establishing a base in Hong Kong in the 1950s, we have developed markets throughout the region as one of our key strategic markets and responded to customer needs. Recently, we are also actively developing projects in emerging countries where the demand associated with economic growth, such as the Philippines and Vietnam, continues to be steadily increasing. We also acquired major paper distributors in Singapore, Malaysia, and India making them Group companies. As a paper distributor with inventory and delivery capabilities, in addition to our existing operations in Hong Kong we are also developing services that are more closely tailored to local communities.